Book 1: ETHOS II Book 1: Report Book 1: ETHOS II Report ETHOS II Report © 2022 International Bank for Reconstruction and Development / Acknowledgement The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This report was prepared by The State University of New York in Korea (SUNY Korea) and World Bank’s virtual Entrepreneurial Talents’ House of Opportunities and Supports (v-ETHOS II) team in Digital Development Global Practice led by Samia Melhem (Lead Dig- This work is a product of the staff of The World Bank with external contributions. The ital Development Specialist, IDD02) and Je Myung Ryu (former Senior Digital Development findings, interpretations, and conclusions expressed in this work do not necessarily reflect Specialist). The report was written by Jang Ik Lee (v-ETHOS Program Manager), Chanmi the views of The World Bank, its Board of Executive Directors, or the governments they Kim (GDC Consulting, Inc), Yerin Cho (Samsung Electronics), Taehyeon Kim (v-ETHOS Coor- represent. dinator), Suhyeong Kim (Yonsei University) and Yewon Cho (Buzzvil) at SUNY Consortium with inputs from Samia Melhem (Lead Digital Development Specialist, IDD02), Seda Pahla- The World Bank does not guarantee the accuracy, completeness, or currency of the vooni (Senior Consultant, IDD05), Marta Lucila Priftis (Knowledge Consultant, IDD02), Su- data included in this work and does not assume responsibility for any errors, omissions, or sie Youngyun Lee (Consultant, EPSPA), Do Kyu Lee (Senior Digital Development Specialist, discrepancies in the information, or liability with respect to the use of or failure to use the IDD05) and Zaki Khoury (Senior Digital Development Specialist, IDD05) at the World Bank. information, methods, processes, or conclusions set forth. The boundaries, colors, denomi- nations, and other information shown on any map in this work do not imply any judgment The team is very thankful for thoughtful comments and suggestions on the drafts re- on the part of The World Bank concerning the legal status of any territory or the endorse- ceived from Alvaro S. Gonzalez (Principal Economist, HSPJB), Ida Mboob (Senior Digital ment or acceptance of such boundaries. Development Specialist, IDD02), Michael Trucano (Senior Advisor for Education, Technolo- gy & Innovation, HAEE2), Ekua Bentil (Education Specialist, HAWE3), and Wilson Muyenzi Nothing herein shall constitute or be construed or considered to be a limitation upon (ET Consultant, IDD04). or waiver of the privileges and immunities of The World Bank, all of which are specifically reserved. The team also wishes to thank Mark Williams (Practice Manager, IDD05), Michel Rogy (Practice Manager, IDD02), and Nicole Klingen (Practice Manager, IDD01) for the inputs and overall guidance as well as Tala Khanji (Consultant, EMNGU) for support with editing and Hadiza Eneche (Program Assistant, IDD05) for administrative assistance. Rights and Permissions This report is prepared as part of the activity on Digital Skills Development for ICT entrepreneurs in developing and FCV countries (ETHOS II) (P168424), financed by the Ko- The material in this work is subject to copyright. Because The World Bank encourages rea-World Bank Group Partnership Facility (KWPF), supported by the Government of Ko- dissemination of its knowledge, this work may be reproduced, in whole or in part, for non- rea. commercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. Table of Contents Executive Summary 001 I. Introduction 005 1. Background 005 1.1 Digital Entrepreneurship Support and WBG’s Mission 005 1.2 Approaches Toward Entrepreneurship Building 008 1.3 Short History of ETHOS 008 2. ETHOS Initiatives 010 2.1 ETHOS Objectives 010 II. Program Development 011 1. Business Plan Competition Preparation 011 1.1 Pilot Program Planning and Implementation 011 1.2 Main Program Preparation 028 2. Business Training Program and Material Development 041 2.1 Main Program 041 2.2 List of Startup Experts 052 III. Business Training Program 057 1. Mentoring Experiences 057 1.1 Schedule 057 1.2 Contents of Each Mentoring Sessions 059 1.3 Mentor-Team Assignment 059 1.4 Mentoring: Before and After 060 2. Tech Partnership Experiences 063 2.1 Tech Partnership Session Schedule 063 2.2 Tech Partner Selection 064 3. Demo Day Experiences 065 3.1 Schedule 065 3.2 Business Gallery 066 3.3 Demo Day 068 001 Executive Summary IV. Monitoring & Evaluation 073 This report is a collection of ETHOS II program experiences (2020-2021). It aims to pro- 1. v-ETHOS Survey Result 073 vide a reference for future World Bank efforts to promote digital entrepreneurship in de- 1.1 Overall Evaluation 073 veloping countries and those affected by fragility, conflict and violence (FCV). Recognizing 1.2 Summary Table by Subject 076 the strategic value in supporting entrepreneurs unleash their creativity with digital tech- 2. ETHOS Follow-up Interview Result 084 nologies, the ETHOS II program, in collaboration with SUNY Consortium and World Bank 2.1 Follow-up Interview Result 084 Digital Development team, managed to convene virtually 27 participants from 12 countries despite the global COVID-19 pandemic. This new cohort is now part of the ETHOS alumni V. Conclusions and Lessons Learned 086 group, which includes 52 participants from 16 countries. 1. Key Conclusions 086 The Objectives of the ETHOS program can be summarized as follows: 2. Lessons Learned for Future ETHOS 088  THOS provides specialized services to search, identify and keep track of entrepre- •E neurial talents from developing and FCV countries. VI. References 091  THOS creates a seamless learning environment by delivering entrepreneurship •E training through knowledge sharing and skills development for entrepreneurs and Appendix 088 startups and facilitates business connections. Appendix A: List of ETHOS II Participants 092  THOS provides continuous and sustainable support for entrepreneurial talents •E Appendix B: Survey Questionnaire 094 through funding opportunities and by building a global network with potential in- Appendix C: Follow-up Interview Result 103 vestors. Appendix D: List of Applicants (Main program) 114 Appendix E: Application Form 120 The ETHOS II program builds on ETHOS I, which was held in 2015 and 2016. The pro- Appendix F: First Round Evaluation Form 124 gram was initially designed to invite talented startups from developing and FCV countries Appendix G: Interview Evaluation Form 125 to Korea. However, when the global pandemic hit, the team - in consultation with SUNY Consortium and World Bank Digital Development team – decided to transform the pro- gram into a virtual format (v-ETHOS). With the transition to v-ETHOS, a pilot program with selected participants was planned, developed and launched to test the feasibility of ETHOS in virtual format. This was intended to ensure that key components and spirit of the original ETHOS program, with regards to mentoring, hands-on learning, and networking were maintained as much as possible. 002 003 v-ETHOS Pilot Program Mentoring Sessions  hree-week intensive online mentoring sessions were held. Each team had four two- •T  he design of an online collaboration platform took approximately five months to •T hour sessions: two on Business Model (BM) mentoring and two on Investor Relations develop and test. (IR) mentoring.  he five-week pilot program [09-07-20 to 10-19-20] was composed of 3 countries: •T Myanmar, Sri Lanka, and Cambodia Tech Partnership Sessions  uring the pilot, the ETHOS program components were tested and responses were •D  he operation was conducted on a rolling-up basis so that twelve tech partners could •T collected to assess feasibility for a larger group. meet all the groups. Each group conducted a total of four sessions (70 minutes each). Thus, 840 minutes of 12 sessions were completed in total. Main Program Business Gallery Sessions  usiness Gallery sessions were designed to train ETHOS participants in business. In •B Based on lessons learned from the pilot program, the ETHOS II program started pro- parallel, these sessions served as a networking venue for ETHOS participants to con- moting and recruiting talents with the help of World Bank country offices, embassies, and nect with Korean young entrepreneurs. The virtual Business Gallery sessions were local and regional startup communities. The ETHOS alumni group also was a great source divided into three groups and two three-hour-long sessions were conducted online. of support. The main ETHOS II program was set to run from April 19th to May 21st, 2021 (Five weeks). Demo Day Thirty-six teams from twelve developing and FCV countries were selected from the  emo Day 1 and Demo Day 2 were held on May 18th and May 20th. Each group partic- •D total of sixty-three teams that participated from seventeen countries. The finalist countries ipated in a Demo Day session simultaneously from different online meeting rooms. of ETHOS II are: Algeria, Cambodia, Cameroon, Côte d’Ivoire, Ethiopia, Georgia, Lao PDR,  total of eighteen companies (67%) were selected to participate in the Demo Day •A Lebanon Rwanda, Tunisia, Vietnam, and West Bank and Gaza. and each finalist team participated in two three-hour-long sessions. Each team gave a ten-minute pitch followed by a five-minute feedback from the investor panel. Main ETHOS II Components Outcome Knowledge Series (Webinars / Lectures)  ebinar 1: Digital Partnership for Global Entrepreneurs •W This report is a compilation of ETHOS participants’ experiences throughout the pro-  ebinar 2: Entrepreneurship and Sustainable Development •W gram with a particular emphasis on their experiences across various business subjects and different diverse groups. The ETHOS aimed to close the digital skills and entrepreneurship The first webinar aimed to distill the key steps and concepts for business modeling, gap between developed, developing and FCV countries. Key outcomes from the virtual analytics and re-engineering, as well as fundraising and investor relations. The second we- ETHOS II program can be summarized as follows: binar focused on the importance of global entrepreneurship for sustainable development; more particularly on the use of digital and disruptive technologies to promote socio-eco- nomic development as well as on the role of partnerships in promoting entrepreneurship. 004 005 Book 1: Responses from the participants were very positive:  verall evaluation of the ETHOS program was very positive with an average overall •O score of 4.3 out of 5. ETHOS II Report  entoring was reported by the participants to be the most valuable experience. •M Responses on the future of ETHOS program quoted:   nvestment and/or grant need to be a part of startup support program •I I. Introduction  ore time and personal meetings with mentors and fellow participants •M  ore breakout rooms for networking •M  continuous supporting platform for long-term ETHOS alumni •A 1. Background Other outcomes from the ETHOS II program are: 1.1 Digital Entrepreneurship Support and WBG’s Mission  oint business ventures are expected between Korean tech-partners and ETHOS par- •J ticipants; more particularly Greenjoy (Vietnam) and 3DWAVE (Tunisia). Expectations are high on entrepreneurship and digital technology for socio-economic  s ETHOS I has sparked interest in startups from developing countries, ETHOS II is •A development, especially for developing and conflict-stricken countries. Despite the high promoting awareness to increase interests amongst Korean investors, tech-firms and expectations, startups and entrepreneurs are always known to be at a high risk of failure. governments in startups from developing and FCV countries. Nevertheless, as we have witnessed from many efforts, promoting and helping them build  stablishment of a global network of digital startups with an increased number of •E successful startup ecology are valuable investments in and by themselves. The definition ETHOS alumni with over 100 members from 21 developing and FCV countries. of success for startups is often measured with high-growth startups, but this might mis-  evelopment of Massive Open Online Course (MOOC) to disseminate knowledge •D guide the startups in the context of developing countries. gained from ETHOS II program, and establishment of a sustainable learning platform For startups in developing and FCV countries, “human capital” was the priority fac- for more talented entrepreneurs from developing and FCV countries tor affecting a startup’s success (Khong-khai and Wu, 2018). The top three subcategories among “human capital” that influences success were the knowledge of the entrepreneur, the capacity of innovation, and the capacity of a startup team. Moreover, it is important to note that financial support by the government, professional consulting services for legal, financial, and technical experts in the form of ‘mentoring’ are necessary to strengthen the entrepreneurship capacity. Also, opportunities for professional training, making connections with other founders, mentoring, preparing digital skillsets, receiving continuous support, building global net- works, receiving funds, and more are extremely limited in developing and FCV countries. In addition, the lack of these supports is much more critical for early-stage startups. It is, therefore, crucial for entrepreneurs in developing and FCV countries to get a sufficient amount of training and support to attain business success and increase human capital for 006 007 the growth of society and the economy as a whole. 2021). The pandemic also pushed entrepreneurs to respond to consumers’ needs in a more The five biggest needs that early startups in developing and FCV countries face are as agile way, reflected in the growth in the number of tech-based startups (Altun, 2021). Also follows. noteworthy is the increased government support and funding that has been provided to compensate for the losses incurred during the pandemic, which has helped in spurring in- 1. Entrepreneurial knowledge novation and building an entrepreneurial ecosystem. 2. Innovation capability The pandemic, has on the other hand, increased inequalities within and between 3. Technological capacity countries. The United Nations highlights that these exacerbated inequalities are likely to 4. Support of a mentor jeopardize Least Developed Countries’ (LDCs) progress towards inclusive sustainable de- 5. Staged financing velopment for years to come (United Nations, 2021). More particularly, the report points out that COVID-19 has pushed back development gains by years in the areas of poverty re- ETHOS contributes to solving the aforementioned problems by helping entrepreneurs duction, education access, and debt (United Nations, 2021). This pandemic has highlighted in developing and FCV countries acquire digital skills that will enable them to leverage the vulnerability of LDCs to disasters, flagging the importance in reducing the gaps to en- digital technologies and platforms towards innovative services and job creations in their able LDCs to better respond to future disasters. home countries. In order to fill up these needs, the ETHOS program first offered knowledge Entrepreneurship and startups can be leveraged to find solutions to address many series of lectures and webinars to inform entrepreneurs about the startup scene around of these challenges and can play a driving force in recovering the economy. It is estimat- the globe. Since the entrepreneur’s capability is a significant success factor for startups in ed that the global startup economy is worth over $3.8 trillion in Ecosystem Value, more developing countries, knowledge sharing, and absorption processes were included in the than the individual GDP of most G7 economies (Startup Genome, 2020). As such, knowl- program as well. edge-sharing and international cooperation becomes particularly critical to strengthen the Also, mentoring and tech partnership sessions were provided to complement the entrepreneurial ecosystems across countries, and LDCs’ more particularly. knowledge series components. As mentioned above, help from the experts is an asset that Given the World Bank Group’s (WBG) core support in helping communities and local needs to be strengthened in the startup ecosystem in developing countries, especially. For governments cope with crisis impacts and build resilience for future shocks, this workbook an outcome, a considerable number of practical implications were given to the teams to aims to provide lessons learned for and best practices to strengthen the entrepreneurial build the innovation capacity building. Lastly, through the Business Gallery and Demo Day ecosystem across LDCs. It is targeted towards entrepreneurs, investors, stakeholders, pol- session, many teams were able to experience how to pitch their idea clearly and attract in- icymakers, and students around the globe to support the WBG realize its core missions of vestors, which is a critical part of the growth of startups. ‘ending extreme poverty’ and ‘promoting shared prosperity’. Through its five operating During the program, however, it was additionally difficult to support startups due to institutions (IBRD, IDA, IFC, MIGA and ICSID), the WBG is one of the world’s largest sources the pandemic situation. The COVID-19 pandemic created significant disruptions for thou- of funding and knowledge for developing countries dedicated to reducing poverty, increas- sands of businesses, forcing hundreds to close down. However, despite these disruptions, ing shared prosperity, and promoting sustainable development . there has been an increased global interest in startups - boosting the global growth of a startup ecosystem. The new reality, brought by the pandemic, created new opportunities for startups: According to a recently published article in Forbes, the number of newly launched com- panies in 2021 around the world significantly surpassed those established last year (Altun, 008 009 ation of a strong network of partners and friends. 1.2 Approaches Toward Entrepreneurship Building The second ETHOS program (‘ETHOS 2’) was held in January of 2016 with 30 partic- ipants from seven countries. Based on the lessons learned of the previous program, the Categories Examples length of ETHOS 2 program was shortened to a two-week program rather than three, with Incubators Go Austria(Austria), REACH(US) a particular focus on networking activities in parallel to the learning sessions through lec- Y-Combinator, 500 Startups, Tencent AI Accelerator(China), Fast Track tures and workshops. This format has enabled greater interactions between participants Accelerators Malmö(Sweden), TINC(US) leading to better synergies among members. French Tech Ticket(France), Ideation(Tnufa) Incentive Program(Israel), K-Startup Grand Challenge(Republic of Korea), K-Startup Center Business(Republic of Ko- Government(public) rea), K-Global Startup Mentoring(Republic of Korea), KOICA Creative Technology Seed 0 Program(Republic of Korea), Start-Up Chile(Chile), Start-Up Brasil(Brazil) Global Partnership UNLEASH(UN), Technology Pioneers(World Economic Forum) Private Corporations Tech Nation(UK), Google Launchpad Accelerators(Google) Venture Buildings Antler(Singapore) Company Buildings Fast Track Asia Academia IEEE Innovation Nation Universities KAIST, Kookmin University, Korea University Startup Programs for Early-Stage Entrepreneurs As the table shows, entrepreneurship building is being promoted by diverse entities. Common theme is to select, connect, and invest(or provide financial grants) in a competi- tive processes. ETHOS is focusing more on training and connecting. 1.3 Short History of ETHOS The first pilot program (‘ETHOS 1’) was designed to provide entrepreneurs from different countries with the opportunity to grow and network through a focused learning program . After the first pilot program, the initial ETHOS program was held in January of 2015 with 20 participants from Bangladesh and Vietnam. Outcomes of the program highlighted the high demand from aspiring young entrepreneurs for similar programs. Although the program seeks to provide entrepreneurs with learning and business connec- tions, it was also built with the objective to promote a lifelong mentoring through the cre- 010 011 2. ETHOS Initiatives II. Program Development 2.1 ETHOS Objectives 1. Business Plan Competition Preparation The target audiences who will have different benefits from ETHOS can be defined as follows: First of all, young and talented entrepreneurs from developing and FCV countries are the primary target of ETHOS. At the same time, investors will have the opportunity to 1.1 Pilot Program Planning and Implementation get connected with new markets and new partners which may lead to entirely new busi- ness ventures. Also, ETHOS is expected to provide platform for ODA (Overseas Develop- 1.1.1 Planning ment Aid) agencies to explore alternative approaches. The experiences from the ETHOS 1.1.1.1 From ETHOS to v-ETHOS program will help policymakers in developing and FCV countries to witness the evidence With the transition of ETHOS into a virtual format (v-ETHOS) when the pandemic hit, that startups are both important and viable in their respective countries. the program had to undergo a re-design process to transform its content into one suitable Entrepreneurship programs must equip future entrepreneurs with the necessary for virtual learning. A pilot session was therefore conducted ahead of launching v-ETHOS skills to meet the need to accelerate economic development through generating new to ensure the smooth transition to a virtual setting. ideas and converting those ideas into viable and profitable ventures. Studies on the effectiveness of entrepreneurship education stress that one of the major challenges is the appropriate development of curricula and training programs. While little is known about effective teaching techniques for entrepreneurship, teaching approaches and methods that involve learning by doing, immersion in real-life situations, case studies and talks by en- trepreneurs have proved to be more effective. Therefore, entrepreneurship training pro- grams have expanded to include more experiential learning and opportunities to interact with leaders in the field. ETHOS (also known as ‘Entrepreneurial Talents House of Opportunities and Sup - port’) is an initiative that aims to support young entrepreneurs understand and identify
v-ETHOS Pilot Session Planning factors that will help them succeed. More particularly, the program will focus on how In- formation and Communications Technology (ICT) can be leveraged for business growth The program had originally three core objectives: Mentoring, sharing & connecting(- and success. networking), and pitching experience, which have been identified as the more important As boosting entrepreneurship has increasingly become a top priority for policymak- skills for mentees participating in the program. Activities related to field experience, such ers to spur job creation and boost growth, ETHOS aims to contribute to this objective by as visits to Korean startups, have been removed from the virtual format and greater em- supporting policymakers and other stakeholders in building the required ecosystem for phasis was placed on mentoring and networking through webinars and roundtable discus- entrepreneurship. The program goes beyond offering a one-off training program to build- sions. ing a sustainable platform that is continuously leveraged amongst ETHOSians’ as a mento- ring and networking space. 012 013 Two-way audio and video streaming player - Customized two-way transmission player development development Real-time video mento- - Hosting system development ring system design - Access system development
v-ETHOS Pilot Session Platform Mentoring Room Development Common Room - Development of the common room where real-time webinars and recorded lectures take place. The common room includes functions to enable the upload of recorded videos including keynote lectures and other materials as well as a video stream- ing player that enables two-way video and audio transmissions simultaneously.
v-ETHOS Pilot Session Planning with Date Video player develop- - Video player development to upload recorded videos ment Two-way audio and video streaming player - Customized two-way transmission player development 1.1.1.2 Platform Design and Development development Real-time webinar sys- - Hosting system development tem design - Access system development To conduct v-ETHOS, a gateway platform was designed to include various platform in- terfaces where ETHOS II activities can take place.
v-ETHOS Pilot Session Platform Common Room Development Design the customized user interface enabling different user types includ- -  ing v-ETHOS team, participants, mentors, lecturers, startup participants, and Pitching Room - Development of the pitching room that can be used by startups and Interface design investors investors to see recorded pitching videos and conduct real-time pitching sessions. Design interface with affiliated rooms in the platform -  - User login system development User sign-in and login Video player develop- - User database storage system - Video player development to upload pitching videos of participants system development ment - User access control system development Two-way audio and
v-ETHOS Pilot Session Platform Design video streaming player - Customized two-way transmission player development development Real-time Demo Day Hosting system development to give different access authentication to mod- - Mentoring Room – Development of the mentoring room where business mentoring design erators, participants, and investors and tech coaching takes place. The mentoring room includes audio and video transmission
v-ETHOS Pilot Session Platform Pitching Room Development tools, which enable information transmission in real-time. 014 015 1.1.2 Promotion v-ETHOS Pilot session promotion was carried out from May 25 to July 29, 2020. The target countries were Cambodia, Myanmar, and Sri Lanka whereby the v-ETHOS team contacted forty-five institutions and 121 startups in target countries. Number of contacted institutions Country Number of contacted startups (e.g. community, incubator, VCs, etc) Myanmar 19 28 Cambodia 14 59 Sri Lanka 12 34 Total 45 121
v-ETHOS Pilot Session Promotion Summary 1.1.3 Application and Selection Process 1.1.3.1 Application Process 1.1.3.1.1 Eligibility Entrepreneurs, employees, and individuals who have entrepreneurship experience or aspiring to become entrepreneurs in an ICT-related field are eligible to apply. Candidates must commit to participate in the v-ETHOS program. Nationals of Myanmar, Cambodia and Sri Lanka are preferred for the pilot program. 1.1.3.1.2 Application Package
v-ETHOS Pilot Session Application Package Applicants to the ETHOS program are required to submit the following documents in En- glish. [Part 1]: Application Form [Part 2]: Curriculum Vitae [Part 3]: Business Plan *CVs and Business Plans can be submitted in a separate file if necessary. 016 017 The application deadline for the pilot session was July 29, 2020. After carefully re - viewing applications, the first selection batch was announced on August 11, 2020. Online interviews were conducted between August 18 to 20, 2020 to select the finalists. The results were announced on August 31, 2020. 1.1.3.3 Finalists Below is the list of finalists from each country: Applied Selected Team Country 1 Kind Cash Myanmar O 2 Real Pixels Sri Lanka O 3 UNIVISER Sri Lanka X 4 SmartBin Cambodia Cambodia O 5 KARZO Myanmar △ (Withdrawal) 6 LBS (AEBIZ) Cambodia O 7 Okra Cambodia X 8 RecyGlo Myanmar O 9 TapEffect Cambodia O Total 9 Teams 6 Teams
v-ETHOS Pilot Session Applicants Summary
v-ETHOS Pilot Session Platform Main Page No Country Company Name Business item 1.1.3.2 Selection Process 1 Myanmar Okka Phyo Maung Waste management RecyGlo RecyGlo is a B2B SAAS waste management, data collection, analytics, and sustainability reporting plat- form. The entreprise works with more than 100 global clients in South East Asia to help them with their circular economy waste management solutions and reporting. Nicholas Boerema 2 Cambodia piped water solution
v-ETHOS Pilot Session Selection Process Timeline Ajay Chouhan TapEffect 018 019 TapEffect is a social piped-water enterprise supplying safe and affordable tap water to hard-to-reach ru- 1.1.4 Program Operations ral and semi-rural communities in Cambodia, with the objective to scale our solution to South-East Asia. 1.1.4.1 Schedule E-commerce plat- 3 Cambodia Soun Bunthorn form The v-ETHOS pilot was conducted for five weeks from September 7 to October 19, LBS(AEBIZ) 2020. It included four mentoring sessions (for two hours each), four showcases, one live During covid-19, Cambodians, especially parents, faced significant economic and mental challenges. This enterprise aims to support them figure out how to address these challenges and provide them with Business Gallery session, and two live (virtual) Demo Day sessions geared towards provid- solutions on how to maintain sustainable economic growth during the pandemic. ing reference material and trainings for participants to refer to. At the end of the program, one review meeting was held. Jaume Marques 4 Myanmar colom donation application Seher Nihal Cam Kind Cash Kind Cash is an application tracking individual and organizational donations while providing a platform for donations to people in need through top-up cards. The donees are given almost full flexibility in purchasing goods and services that meet their basic needs while staying safe, keeping their dignity, and making decisions autonomously. Arun Pragash Virtual hologram ad- 5 Sri Lanka Devasagayam Dens- vertiser need Real Pixels Real Pixels is an Artificial virtual intelligence next-gen advertiser company creating holographic pioneer- ing displays solution using IoT technology for B2B. Chanamrithvatey Digital waste man- 6 Cambodia Kim agement systems SmartBin Cambodia A digital eco-enterprise implementing the first digital recycling bin and waste management systems in Cambodia to boost recycling and nudge the behavioral change to tackle waste management in the coun- try.
v-ETHOS Pilot Session Schedule
v-ETHOS Pilot Session Finalist 020 021 1.1.4.2 Mentoring Sessions Mentoring Session Key Activities 1.1.4.2.1 Mentor-Team Assignment a) Introduction b) Business presentation (mentee) Team Chief Mentor Mentee 1st c) Mentoring Seungtae Hwang d) Scheduling for mentoring sessions 1 RecyGlo, TapEffect NH Investment & Securities Senior vice president nd 2 Mentoring Hwasung Jeon 2 LBS(AEBIZ), Kind Cash 3rd Mentoring/ Pitching rehearsal CNT Tech CEO Mentoring/ Pitching rehearsal Miyoung Yeo 4th 3 Real Pixels, SmartBin Cambodia * pitching deck/ updated business presentation Studio D3 CEO
v-ETHOS Pilot Session Mentoring Plan
v-ETHOS Pilot Session Mentor-Team Assignment 1.1.4.2.2 Mentoring Schedule 1st 2nd 3rd 4th 8th Sep, 9pm 11th Sep, 10pm 14th Sep, 10pm 16th Sep, 10pm Mentor : Hwang Mentor : Yeo Mentor : Hwang Mentor : Jeon
Team 1 Mentoring Schedule (Chief Mentor: Seungtae Hwang) 1st 2nd 3rd 4th 8th Sep, 9pm 11th Sep, 10pm 14th Sep, 10pm 16th Sep, 10pm Mentor : Jeon Mentor : Hwang Mentor : Jeon Mentor : Yeo
Team 2 Mentoring Schedule (Chief Mentor: Hwasung Jeon) 1st 2nd 3rd 4th 8th Sep, 9pm 11th Sep, 10pm 14th Sep, 10pm 16th Sep, 10pm Mentor : Yeo Mentor : Jeon Mentor : Yeo Mentor : Hwang
Team 3 Mentoring Schedule (Chief Mentor: Miyoung Yeo)
v-ETHOS Pilot Session Mentoring Session Screenshot A total of eight hours of mentoring was conducted in a team-teaching setting. De- spite this format, there was a chief mentor for each team who led the sessions and was in charge of the mentees. Constructive feedback was provided throughout these sessions and at the end of each, the chief mentor had to decide whether the team moves on to the Demo Day or not. 022 023 1.1.4.3 Showcase 1.1.4.4 Business Gallery Pikurate (Seokkue Song) CEM (Mark Whitaker) An innovative mobile-accessible platform to effec- Online knowledge curation platform based on AI tively manage the world’s commodities and reach the UN SDGs
v-ETHOS Pilot Session Live Business Gallery Screenshot Date Sep 22nd, 2020 10PM(KST) World Bank Group Marta Priftis Dreamary (Keonwoo Shim) Timo (Grace Jung) Korean Startup Jihee Jung (MEDIAI Plus CEO) Nguyen Thi Mai Huong (Color Pencils,Vietnam) All-in-one application that lets kids decide and AI-based hairstylist recommendation & reservation Phuc Pham Tan (Global PAT Company, Vietnam) manage their routines, schedules, to-do’s, and Participants platform Tong Vu Than Dan (Gremsy, Vietnam) reminders Alumni Md Mahamudur Rahman (YES Technologies, Bangladesh)
v-ETHOS Pilot Session Showcase Summary Nguyen Trong Nghia (Bizigo, Vietnam) Hasib Ahsan (mPower Social Enterprises, Bangladesh) Showcase activities were designed to exhibit pitching videos from global startups se-
v-ETHOS Pilot Session Live Business Gallery Summary lected by SUNY Korea Consortium to provide participants with relevant reference material to be used for their pitching videos. During the Business Gallery, six mentees presented their pitch decks to the partici - pants - followed by a Q&A session. The session aimed to push mentees to better reflect on their business models and connect practitioners from the field with relevant startups to provide further support. 024 025 1.1.4.4.1 Sample Conversation from Business Gallery 22:35~22:50 SmartBin Cambodia Pitching Vatey 22:50~23:00 Feedback Panelists Q. Hasib Ahsan : Around 42 percent of people do not have internet access in Cambodia. What is your strategy to scale up this initiative around the country given the lack of internet access? 23:00~23:15 RealPixels Pitching Arun/Glen 23:15~23:25 Feedback Panelists A. SmartBin Cambodia: At the moment, we are focusing on large indoor facilities such as community 23:25~23:40 LBS Pitching Soun malls and universities as they are busy spots. Our first aim is to install this circular system in the com- munity mall: We aim to provide discounted rates to people in the community who bring us items to be 23:40~23:50 Feedback Panelists recycled to expand use and reach. We then want to expand this platform to universities and schools; 23:50~24:00 Closing Remark Jang with a particular focus on youth. After that, we hope to get the support of the government to install
v-ETHOS Pilot Session Live Demo Day 1 Agenda this system as well in outdoor areas such as parks or touristic areas. Q. Hasib Ahsan : Thank you very much for the nice presentation. Jungmin Lim Smart Radar System / Director Minchi Park 500 Startups Korea / Program Manager Panelists Jimin Ryu TheVentures / Associate 1.1.4.5 Demo Day Sukhee Yoon 500 Startups Korea / Manager 1.1.4.5.1 Demo Day Live Session 1: October 6th, 2020 9PM(KST)
v-ETHOS Pilot Session Live Demo Day 1 Panelists All six companies participated in the Demo Day sessions, which included a fif- teen-minute pitch presentation followed by a Q&A for each team. Investors who participat- ed in Demo Day 1 were Jungmin Lim (Smart Radar System), Minchi Park (500 Startups), Jimin Ryu (TheVentures), and Sukhee Yoon (500 Startups). 1.1.4.5.1.1 Sample Conversation from Demo Day 1 Sample Conversation 1 Q. Minchi Park : I Just checked your revenue model which includes a 70 dollar connection fee and a 5 dollar water bill for a month. 5 dollars for month in Cambodian household, what would that be equiva- lent to?
v-ETHOS Pilot Session Live Demo Day 1 A. TapEffect : It’s less than five cent of income. It’s quite affordable but is based on how much water is used; so in general less in the wet season because of the rainwater and more in dry season. Wealthier Time(KST) Session Detail Moderator households use a lot more water. That’s why it combines how much water they use with their incomes 21:00~21:10 Session Introduction Jang as well. 21:10~21:20 Panelist Introduction Jang Sample Conversation 2 21:20~21:35 TapEffect Pitching Nick Q. Jungmin Lim : You have one-stop solution. Which solution is your company’s best service solution, core competency? 21:35~21:45 Feedback Panelists A. RecyGlo: Our core competency is IT and analytics. We focus on data, algorithm, and AI. Our platform 21:45~22:00 RecyGlo Pitching Okka provides analytic services where data is analyzed to visualize the supply chain of our clients. Our com- 22:00~22:10 Feedback Panelists petitors don’t have this advantage. As we are spending more time and energy in this area, we can be a 22:10~22:25 KindCash Pitching Seher/James monopoly in this market. 22:25~22:35 Feedback Panelists 026 027 Sample Conversation 3 18:15~18:25 Feedback Panelists Q. Sukhee Yoon : My first question is what is the profit model? And the second question is who will be 18:25~18:40 RecyGlo Pitching Okka the donor? Who is your potential customer? 18:40~18:50 Feedback Panelists A. Kind Cash : We have different kinds of customers: One is the donor -simply a person who thinks 18:50~19:00 Closing Remark Jang poverty is a problem and want to be able to track the donation made The other type of customer is our partners who benefit from donee’s purchases: The donee can purchase anything they need at the
v-ETHOS Pilot Session Live Demo Day 2 Agenda partners’ shop using the money donated by Kind cash card or application. Jeon Hwasung CNT Accelerator / CEO Uhm Chulhyun Nanuhm Angels / CEO 1.1.4.5.2 Demo Day Live Session 2: October 15th, 2020 4PM(KST) Panelists Lee Jiyong SK Telecom / Director Koo Namhoon Headstart Silicon Valley / CEO
v-ETHOS Pilot Session Live Demo Day 2 Panelists In the second Demo Day, ETHOSians conducted a fifteen-minute presentation followed by a ten-minute Q&A session per each team. Investors who participated in Demo Day 2 were Jeon Hwasung (CNT Accelerator), Uhm Chulhyun (Nanuhm Angels), Lee Jiyong (SK Telecom), and Koo Namhoon (Headstartv Silicon Valley). 1.1.4.5.2.1 Sample Conversation from Demo Day 2
v-ETHOS Pilot Session Live Demo Day 2 Sample Conversation 1 Q. Namhoon Koo : Assuming I’m the owner of a retail shop, what is the benefit of using your adver- Time(KST) Session Detail Moderator tisement tool? How can you boost efficiency of advertisement by connecting real and end customers using your advertisement tool? 16:00~16:10 Session Introduction Jang A. RealPixels : By purchasing our AVINA device, you will be able to reach a wider number of customers 16:10~16:20 Panelist Introduction Jang using our hologram technology: By just clicking on ‘tablet’ or ‘smart- phone’, our device can make the 16:20~16:35 RealPixels Pitching Arun/Glen virtual illusion of the product, which should help businesses increase sales as people are attracted by new things. Also, in the future, our device will provide you with more accurate data on potential target 16:35~16:45 Feedback Panelists customers who will be interested in your products. Using these customer data, businesses will be able 16:45~17:00 KindCash Pitching Seher/James to make more targeted sales. This product is targeted to business owners as it will help product sellers 17:00~17:10 Feedback Panelists get better data on their customers. 17:10~17:25 LBS Pitching Soun 17:25~17:35 Feedback Panelists 17:35~17:50 TapEffect Pitching Nick 17:50~18:00 Feedback Panelists 18:00~18:15 SmartBin Cambodia Pitching Vatey 028 029 Fourteen countries were selected as target countries: 8 from Africa, 2 from the Middle Sample Conversation 2 Q. Namhoon Koo : The biggest challenge in the business industry today is transparency. Everyone East, 3 from Asia and 1 from Europe. More particularly, 5 FCV countries were included: today questions how does their money get spent? That’s why sometimes I hesitate to donate money. Lao PDR, Lebanon, West Bank and Gaza, Burkina Faso, and Cameroon. Your Idea sounds very nice and I hope you can make it happen but I’m not sure A. Kind Cash : We are working to develop a tool to trace donation. When you donate, of course you will No Target Countries Cluster not be able to know who exactly is the person spending your money but you will be able to track how 1 Algeria your donation is spent by kind cash. We trying to find a solution for full transparency- if you wish to 2 Tunisia track. We are also considering collaborating with NGOs to increase transparency from their side as well. 3 Cameroon Q. Chulhyun Uhm: I think the initiative can generate a lot of social impact. However, what financial val- 4 Cote d’Ivoire ue can you bring? To build a successful business, you need to ensure the financial sustainability of the African 8 5 Ethiopia company. How can you make your company more sustainable going forward? A. Kind Cash: We hope to achieve this through commissions: Donors will be charged a very small fee 6 Rwanda but it will mainly be through our partners, who will be able to include this as part of their social impact 7 Morocco strategies. I acknowledge that ensuring sustainability is difficult, but commissions should be one solu- 8 Burkina Faso tion to address the funding gap. 9 West Bank and Gaza Mideastern 3 Sample Conversation 3 10 Lebanon Q. Chulhyun Uhm: I’m curious about the meaningful business model between the installation of your 11 Lao PDR smartbin and actual pay out. During those pay out period, what is the average time duration you ex- pect from installation to the actual money or business model you can generate from it? 12 Cambodia Asian 3 A. SmartBin Cambodia: For our financial forecasting, we will try to implement our smartbin first in 13 Vietnam facilities. For example, we are working with community malls and universities so far. Our first business 14 Georgia Europe 1 model is to install these bins for them and generate income by selling the bins. The second business model is advertising. We are providing these bins for free for universities but hope to generate reve- 14 Countries 3 clusters 14 nues from advertisement six months after installation.
List of Target Countries At the moment, we are marketing and connecting with our partners using our platform’s rewarding system. When users recycle their items using our bins, they get reward points which can be used to buy something in our community. I believe this second model can be also deployed community malls and it 1.2.2 Promotion will be implement next year. 1.2.2.1 Promotion Partners 1.2 Main Program Preparation No Organizations 1.2.1 Program Planning 1 World Bank Country Offices 2 KOICA Innoport Cluster Target Countries 3 The Bridge African Burkina Faso, Cote d’Ivoire, Algeria, Morocco, Tunisia, Cameroon, Rwanda, Ethiopia 4 Korean embassy in selected country Middle East Lebanon, West Bank and Gaza 5 The Korea-Africa Foundation Asian Cambodia, Lao PDR, Vietnam 6 Inforintelligence (Netherland) Europe Georgia 7 Born2Global center 14 countries
Promotion Partner List
List of Target Countries The promotion partners of the program are listed in Table 22. 030 031 1.2.2.2 Promotion Target List 1.2.2.3.1 Brochure Country Number of Organizations Number of Contacts Cote D’Ivoire 11 13 Burkina Faso 6 7 Algeria 9 25 Morocco 38 38 Tunisia 19 19 Cameroon 11 13 Lebanon 29 34 Rwanda 23 30 Ethiopia 14 14 Georgia 11 11 Lao PDR 10 12 Cambodia 30 34 Vietnam 29 29 13 240 279
v-ETHOS Promotional Brochure _ Page 1
Promotion Summary Statistics v-ETHOS team contacted 279 people in 240 organizations. The team also conducted a marketing campaign after collecting the contact information of relevant organizations in target countries. 1.2.2.3 Promotion Methods A total of three promotional methods was used: brochures, video, and invitation let- ters.
v-ETHOS Promotional Brochure _ Page 2 032 033 1.2.2.3.2 Promotional Video
v- ETHOS Promotional Video Testimonials from previous ETHOS participants. 1.2.2.3.3 Invitation Letter
v- ETHOS Invitation Letter The invitation letter is shown in Figure 14. 034 035 1.2.3 Application and Selection Process 16 Cyan Technology 1.2.3.1 Schedule of Selection Process 17 TapEffect Cambodia 4 18 Jojoon 19 Tech for Kids Academy 20 Prodestic Cote d’Ivoire 2 21 BAHROCEL 22 GNMSN project
Schedule of Application and Selection Process 23 BEYI 24 Juice Blender Machine The program planning was conducted over a three-month period - from January 16 25 Cyber cafe to March 19, 2021. The selection period lasted five weeks from March 19 to April 12, 2021. 26 TechMos 27 A&J Company Following the selection, the main program schedule ran from April 19 to May 21, 2021 for 28 AGRI TESt five weeks. 29 Pineapple juice 30 MEAL EATERY Rwanda 18 31 1000 Hills Traveler 1.2.3.2 Applicants 32 Pig farming 33 Clothing fashion design No. Company Country Sum 34 EASYLINK 1 GreenJoy 35 Pineapple juice 2 Multi Meter Machine 36 Shaving hairs salon 3 Kind Cash 37 Detecter Running System 4 Game Studio Vietnam 38 Jerika 7 5 TECHVICO 39 WatchIT Group 6 Kyons project 40 E-commerce 7 Digipay 41 Rido Ebook 8 TechHealth 42 APIA 9 UBANI Georgia 3 43 PFMS Cameroon 7 10 MYCOFOUNDER 44 St Digital 11 E-pharma 45 AG 12 Suntrepreneur 46 Kalicomfort 13 Smarter Buses Lebanon 5 47 Sharee Lao PDR 1 14 EquEduTech 15 digiTAL 036 037 48 Rednaks 1.2.3.3.2 1st Screened Applicants 49 3DWAVE No. Company Country sum 50 DATA PM Tunisia 5 1 GreenJoy 51 COVID SCAN 2 Multi Meter Machine 52 Hope Horizon 3 Kind Cash 53 BLUE FILTER 4 Game Studio Vietnam 7 Palestine (Gaza) 2 54 Startup Palestine 5 TECHVICO 55 Bit Bait 6 Kyons project Algeria 2 56 VIRTUWARD 7 Digipay 57 Ethiolocate 8 MYCOFOUNDER Georgia 1 Ethiopia 2 58 QINASH 9 E-pharma 59 SYSAURUS Morocco 1 10 Crowdpowered (Suntrepreneur) Lebanon 4 60 WazInsure 11 digiTAL Kenya 2 61 Fastagger 12 Smarter Buses 62 Trabble Singapore 1 13 Cyan Technology 63 Vyobotics India 1 14 Tech for Kids Academy Cambodia 3 16 countries 63 15 TapEffect
List of Applicants 16 Prodestic Cote d’Ivoire 2 17 BAHROCEL For v-ETHOS, 63 companies from 16 countries applied. Applicants were required to 18 GNMSN project submit CVs and business plans while pitch decks were optional. 19 Cyber cafe 20 TechMos Rwanda 6 21 1000 Hills Traveler 22 Jerika 1.2.3.3 1st Round Review 23 WatchIT Group 1.2.3.3.1 1st Round Reviewing Process 24 Rido Ebook The panelists for the first round of review were: ETHOS Team (SUNY), Hwasung Jeon, 25 APIA Sokjin Chang, and Jinsol Hwang. Selection was based on the applicants’ business plans, CV Cameroon 4 26 PFMS and their nationalities. The screening process lasted for three days from 26-29 March 2021. 27 St Digital 28 Sharee Lao PDR 1 29 DATA PM 30 Hope Horizon Tunisia 4 31 3DWAVE 32 Rednaks 33 BLUE FILTER Palestine (Gaza) 1 038 039 34 Bit Bait The selection board was composed of nine panelists from six organizations: The Algeria 2 35 VIRTUWARD World Bank Group, NH Investment & Securities, Born2Global, the Bridge, Studio D3, and 36 QINASH Ethiopia 1 CNT Tech. The interviews were scheduled for 4 days with 36 participants. 12 countries 36
Main Session _ List of 1st Screened Applicants Organization Panelist Marta Lucila Priftis 36 out of 63 companies passed the first round. Seda Pahlavooni World Bank Group Youngyun Lee Jemyung Ryu NH Investment & Securities Seungtae Hwang 1.2.3.4 2nd Round Review Born2 Global Sokjin Chang The Bridge Jinsol Hwang 1.2.3.4.1 2nd Round Interview Scheduling Studio D3 Miyoung Yeo CNT Tech Hwasung Jeon 6 organizations 9 panelists
Selection Board of Finalists The selection board interviewed 36 applicants and selected 27 as finalists. Originally 63 teams had applied while 36 were dismissed after the first screening of CVs and business plans. Following the pitch interviews (second screening step), twenty-seven teams were se- lected as finalists. 1.2.3.4.2 2nd Screened Finalist ETHOS was designed to be open across business subjects because 1) it offers a chance to have interesting cross-learning among and between different businesses. For example,
2nd Round Interview Schedule a fin-tech business might find business connection with agriculture tech firm. 2) Digital and ICT provide a common denominator across diverse industries. ETHOS II hosted 46 participants in total (both pilot and main program) of which 33 were male and 13 were female (28.2%). It should be noted that a balanced gender representation in startups is a challenging issue especially for certain developing countries due to their religious, social, and cultural contexts. Special efforts and considerations should be given to encourage and support female entrepreneurs. 040 041 2. Business Training Program and Material Development No. Company Country 1 GreenJoy 2 Multi Meter Machine 2.1 Main Program 3 Kind Cash Vietnam 6 4 TECHVICO 2.1.1 Program Development 5 Kyons project 6 Digipay v-ETHOS provides the following opportunities to participants: 7 MYCOFOUNDER Georgia 1 Specialized services that search, identify, and Seamless learning environments for entrepre- 8 Crowdpowered (Suntrepreneur) keep track of entrepreneurial talent from devel- neurship and business startups with skills and 9 digiTAL Lebanon 3 oping and FCV countries knowledge development trainings 10 Smarter Buses Platform to share best practices from diverse 11 Cyan Eco Tech sources such as research institutions, venture Mentoring support for entrepreneurial talents by 12 Tech for Kids Academy Cambodia 3 firms, investors, experts, and fellow entrepre- fellow entrepreneurs and investors 13 TapEffect neurs 14 Prodestic Cote d’Ivoire 1
v-ETHOS Functions 15 GNMSN project 16 1000 Hills Traveler Rwanda 4 The v-ETHOS approach developed by SUNY consortium can support the World Bank in 17 Jerika identifying best practice examples for developing result-oriented training programs across 18 WatchIT Group its client countries. Based on the various ETHOS forms rolled out so far, the below princi- 19 PFMS Cameroon 2 20 St Digital ples have been outlined as key factors for promoting a successful learning environment 21 Sharee Lao PDR 1 for entrepreneurs: 22 DATA PM  onnecting young entrepreneurs with experts in the field to maximize exposure to •C 23 3DWAVE Tunisia 3 project implementation 24 Rednaks  uilding a sustainable platform for mentoring that goes beyond the training pro- •B 25 BLUE FILTER Palestine (Gaza) 1 gram to provide ongoing counseling for entrepreneurs 26 Bit Bait Algeria 1  upport entrepreneurs in prototyping their business concept to test the practicabili- •S 27 QINASH Ethiopia 1 ty of the current design and investigate how a sample of users think and feel about a 12 countries 27 product. nd
Main Session _ List of 2 Screened Finalists 042 043 2.1.1.1 Program Draft with tech-partners that have business AND technology expertise was highly valued by ETHOS participants. The concept of tech-partners complements and enriches the mentor- ing process, and it can be expanded to more diverse digital technologies in diverse regions.
Main Program Planning Draft The main program consists of four main parts: Introduction to Startups’: which includes a week of Knowledge Series and orienta- •‘ tion through webinars ‘Building Your Business’: which includes a two-week mentoring program focused • on business modeling and investor relations • ‘Tech Partnership’: which includes a two-week model on how to build partnerships with tech firms Financing Your Business’: which includes a Business Gallery and a Demo Day for •‘ two-weeks Mentors are known to be the most important elements in any training and/or support programs for entrepreneurs. Mentors must have two fundamental qualifications: 1) Busi- ness/Technology experience and expertise, 2) Communication and leadership qualities. It is therefore challenging both to find and retain qualified mentors. The main reason for the success of the ETHOS program can be found in its qualified and dedicated mentors. What should be particularly noted is the introduction of the Tech Partnership pro- gram which will augment and provide a longitudinal and sustainable digital training mod- el and was the most talked about item during post-pilot review sessions. Responses from the pilot session asked for more tech-partners and more time for interaction. Connecting 044 045 2.1.1.2 Program Elements Session 1 Live Session 2 Live Tech Partnership Session Session 3 Live Session 4 Live 1st Business Gallery Live Business Gallery 2nd Business Gallery Live st 1 Live Pitching Live Demo Day 2nd Live Pitching Live Administration Round talk Live Alumni day Live
Program Elements and Methods Live sessions were guided with ZOOM, and streaming videos were uploaded to the platform to enable self-paced learning. In addition, mentoring sessions were divided into eight groups based on business area and level of development of the startup. Orientations,
Program Concept Note Tech Partnership, Business Gallery, and Demo Day were also divided into three groups based on participants’ locations. The program focused on three important elements shown in Figure 18. First, in or- Implementing ETHOS program online can be quite different cost-wise from in-person der to provide targeted trainings for participants, mentoring sessions were held to better training . If ETHOS were to develop its own online conference platform, the developing understand the needs of these startups and tech partnerships were established to pair en- cost could be more than the savings from traveling and accommodations. Development of trepreneurs with relevant experts. Second, during the inception phase for business devel- dedicated stand-alone online platforms does have its merits in terms of long-term stabili- opment, participants tried to identify key success factors and the critical needs in specific ty, security, and custom-made quality. On the other hand, utilizing a ready-made platform regions. Lastly, they were able to meet with investors during the Demo Day. such as ZOOM showed a big cost-saving in terms of program operations. However, it must be pointed out that, regardless of platform status, it is the people (mentors, staff, and lec- turers) that make the difference. Program Element Live / Streaming Welcome message Streaming Program Element Duration Estimation Sub Total Orientation Program Introduction Streaming 2mins * 4 = 8 mins Cluster live meeting Live Orientation 12mins 3h 20mins Lecture Series Streaming 1hour * 3 = 3hours Knowledge Series Webinar Live 1hour * 2 = 2hours Knowledge Series 6h 40mins Session 1 Live 2h 20mins * 2 = 4h 40minrs Session 2 Live Mentoring session Session 3 Live Session 4 Live 046 047 2h * 12teams = 24h 2h * 12teams = 24h 2.1.1.3.1 Weekly Schedule Summary Mentoring 96 hours 2h * 12teams = 24h 2h * 12teams = 24h 70mins * 3 = 3h 30mins 70mins * 3 = 3h 30mins Tech Partnership 14 hours 70mins * 3 = 3h 30mins 70mins * 3 = 3h 30mins 3h * 3 = 9h Business Gallery 18 hours 3h * 3 = 9h 4h * 3 = 12h Demo Day 24 hours 4h * 3 = 12h 1h * 2times * 3cluster = 6h Administration 8 hours 2 hours Total 170 hours
Program Schedule - 1st Week
Planned Program Duration During the orientation, welcome remarks from SUNY, WBG, and the Korean Ministry of Science and ICT were delivered to participants, which was followed by an introducto- 2.1.1.3 Program Schedule ry video of this year’s participants (ETHOSians). Members later participated in the first mentoring session, and each team presented their business models and received feedback Mon Tue Wed Thu Fri from mentors. 4/19 4/20 4/21 4/22 4/23 The first webinar focused on digital partnerships for global entrepreneurs where Orientation 1st BM mentoring Webinar 1 1st BM mentoring 2nd BM mentoring speakers gave a presentation on the topic followed by a Q&A session. Lecture 1 4/26 4/27 4/28 4/29 4/30 nd 2 BM mentoring Tech Partnership 1 1st IR mentoring Tech Partnership 2 1st IR mentoring Lecture 2 5/3 5/4 5/5 5/6 5/7 2nd IR mentoring Tech Partnership 3 Break & Prep-day Tech Partnership 3 2nd IR mentoring 5/10 5/11 5/12 5/13 5/14 Webinar 2 Business Gallery 1 Break & Prep-day Business Gallery 2 Roundtalk Lecture 3 5/17 5/18 5/19 5/20 5/21 Roundtalk Demo Day 1 Break & Prep-day Demo Day 2 Roundtalk
v-ETHOS Main Session Schedule
Orientation Session Screenshot 048 049
Program Schedule – 4th Week
Program Schedule – 2nd Week Webinar 2 mainly focused on entrepreneurship and sustainable development. The Business Gallery was also conducted like a ‘real Demo Day’ to improve the pitchingcskills An investor relations mentoring program followed the business mentoring curricu- of the mentees. As part of this process, an audience was recruited so that active Q&A ses- lum, which focused on how to build tech partnerships and build an effective network. sions could be conducted. During the round talk, feedback was exchanged between partic- ipants on the pitches ahead of the Demo Day.
Program Schedule – 3rd Week
Program Schedule – 5th Week In Week 3, following the completion of the investor relations mentoring, mentees were selected to enter the Business Gallery. The selection was conducted by mentors based Demo Day candidates were selected more competitively than those of Business Gal- on business development level, participation rate, and level of improvement. Also, during lery. The Demo Day selection criteria were determined by region (country), business devel- this period, tech partnerships 3 and 4 were conducted and completed. 050 051 opment level, and skill improvement level. Demo Days were conducted in three groups, to 2.1.2.2 Platform Feature and Contents accommodate the number of finalists who passed the Business Gallery. During these, each team gave a ten-minute pitch to investors followed by a five-minute Q&A session where feedback was later shared. 2.1.2 Platform Development 2.1.2.1 Platform Planning This platform was developed to promote and facilitate team building, engagement, and management, as well as to enable self-paced learning.
Platform UI – Category The Menu (Category) includes Today’s Event, information on v-ETHOS, Program De- tails, Mentors, Participants, and Partners. It was designed to help participants check their schedules and ongoing events as well as to upload the recorded sessions for self-learning. During the development process, few changes were made from the draft version shown in Figure 25. The final version is available at https://v-ethos.site/.
Platform Planning Draft
Platform UI – ‘My Page’ Section 052 053 2.2 List of Startup Experts Manager, The Bridge International (2020-Present) Social Cohesion Officer, UNDP Jordan (2018-2019) Program Coordinator/Entrepreneurship Fellow, 2.2.1 Mentors List GWU Office of Innovation and Entrepreneurship (2017-2018) Founder and CEO, Big Fish Little Fish (2017-2018) Mentor Affiliated Institution Position Miyoung Yeo Studio D3 CEO Hwasung Jeon CNT Tech CEO Creative Director, D3 (2015-Present) Adjunct Professor, Yonsei University (Underwood International College)  Culture and Design Manage- CEO, CNT Tech Ltd. (2003-Present) ment (2019-Present) Presidential Commendation in the 20th Korean Software Awards Merchandise Award Category (2019) Chief Curator, UI ART LINE, Seoul Metropolitan Government, Design Policy Division(Present) Presidential Commendation from Venture Start-up Promotion Agency (2019) - Seoul Design Consultant, Innovative Education, Seoul Metropolitan Office of Education (Present) National IT Industry Promotion Agency Award for unmanned eating-out ordering transaction service (2018)
Information Summary – Mentors - Presidential Award from ICT Innovation Awards (2015) Sokjin Chang Born2Global Director 2.2.2 Tech Partners List Director of international Cooperation, Born2Global Centre (2020-present) Vice President, Pioneer Investors Co. Ltd / i-Aurora Co. Ltd (2014-2020) Advisor to Chairman and CEO, Korea Development Bank (2011-2013) Tech Partners Affiliated Institution Position (job title) Special Advisor, Presidential Council on National Competitiveness (2008-2011) Deputy Director, Ministry of Strategy and Finance (2002-2008) Youjin Choi Classum COO Hyeri Hyun TheBridge Team Leader COO & Co-founder of Interactive Learning Platform CLASSUM Team Leader, Global Innovation, The Bridge International (2021-Present) Ah-rum Choi Dot Inc. Director Gender Officer, Women’s Economic Empowerment (WEE) Team, UN Women Timor-Lester Country Office Social Impact Director of Dot (2018-2020) Winnie Badiah WazInsure CEO Head of International Cooperation, Center for Asia-Pacific ICT Development (CAID) (2017-2018) Founder of WazInsure Seungtae Hwang NH Investment & Securities Senior Vice President Oversee the company’s strategies and business expansion Vice President, ECM Syndicate, Investment Banking Department NH Investment & Securities (2009-Cur- Young Gwang Chu Live’s Talk Project Manager rent) Project Manager of 2021 Kyrgyzstan KOICA CTS Program As a ECM syndicate and banker, led and managed most of crucial & sizable IPOs, especially focused on global & domestic investor management, offering & marketing strategy, marketing activities, etc. Mutembei Kariuki Fastagger CEO Business Analyst, Equity Capital Markets, HANA DAETOO Securities (2009) Co-founder and CEO of Fastagger Inc - Analyst, Investment Banking Department, Macquarie Securities (2008) Leading a team of 3 co-founders and 100 remote workers Soongkyu No Born2Global Manager Chand Gudi Vyobotics CEO Business Alliance Manager, Born2Global Centre (2020-Present) CEO of Vyobotics Conducting regular investor relations meetings and monthly tech matching, introducing Korean startups Full time researcher of Innovation and Enterprise Research Laboratory (The Magic Lab), Centre of Artifi- that fit the needs of the corporates and investors cial Intelligence, University of Technology Sydney Assisted the coordination of the Global Innovative Growth Forum event hosted by the The World Bank Tony Taewon Han Coconut Silo COO and the Ministry of Economy and Finance Head of global business department (Global branches in the USA, China, Vietnam and India) Property Management Associate, Savills Korea (2018-2019) Set KPIs and global platform business strategies BA International Relations, Royal Holloway University of London (2013-2016) Jihoon Ryu Idciti CEO Hyunjung Lim TheBridge Manager Assistant Professor of SUNY Korea and CEO of Idciti 054 055 Ian Low Jian Liang Trabble CEO 2.2.4 Webinar Panelist List Founder, Trippening Pte Ltd 2.2.4.1 Webinar 1 Session Summary Tech based company specializing in providing solutions and services to the tourism and hospitality in- dustry Webinar 1: Digital Partnership for Global Affiliated Institu- Kevin Choi Medi Whale Inc. COO Presenter Position Entrepreneurs tion CEO of Medi Whale Inc. Global Tech Partnership for Sustainable Business development in Digital Healthcare (KR, ASEAN) Sokjin Chang Born2 Global Director Development Inventors of medical AI technologies (Patents 40+) ICT and Socio-economic development James Larson SUNY Korea Professor Youngho Baik Ecolant Chief Consultant George Mason Chief consultant of smart street lighting solutions Financing in Developing Country Jongdoo Lee Professor University Jaewon Lee Milk for Lao CEO CEO of Milk for Lao and Ph.D students of agriculture
Information Summary – Presenters for Webinar 1
Information Summary - Tech Partners Discussion Panelist Affiliated Institution Position Hun Jai Lee ASEIC Team Leader 2.2.3 Lecturer List Samuel Danaa UN DESA Associate Capacity Development Expert Hyunjung Lim The Bridge International Manager Affiliated Institu- No. Lecture Topic Lecturer Position (job title) tion
Information Summary – Discussion Panelists for Webinar 1 George Mason Uni- Lecture1 Business Analytics Jongdoo Lee Professor versity Webinar 1 was held during the first week of the program. The main topic was ‘Digital Lecture2 Get a Job or do a Startup? Philip Man Port App Founder Reverse Innovation and Entre- Partnership for Global Entrepreneurs’. Three presenters and three panelists as well as all Jungmin preneurial Opportunities for Seoul National Uni- ETHOSians (26 teams) participated. Panelists were Hun Jai Lee [ASEIC], Samuel Danaa [UN Lecture3 Leonardo Professor Sustainability in Developing versity Lim DESA], and Hyunjung Lim [The Bridge International]. Please refer to the Book 2 for de- Countries tailed information.
Information Summary - Lecturers 2.2.4.2 Webinar 2 Session Summary The lecture was conducted in the form of independent learning by uploading stream- ing sessions to the platform. Please refer to the Book 2 for detailed information. Webinar 2 : Entrepreneurship and Sustain- Affiliated Institu- Presenter Position able Development tion Entrepreneurship and sustainable develop- Namhee Yoon Impact Square Director ment Palestinian startups: Current Status and Rafat Abushaban Startup Palestine CEO Future Challenges Building bridge for global entrepreneurs Hwang Jinsol TheBridge CEO
Presenters Information Summary –Webinar 2 056 057 Discussion Panelist Affiliated Institution Position III. Business Training Program Seda Pahlavooni World Bank Group ICT Policy & Strategy Specialist Jacob Fohtung JamanInclusive CEO Jungmin Lim Seoul National Univ. Professor 1. Mentoring Experiences
Discussion Panelists Information Summary – Webinar 2 1.1 Schedule Webinar 2 was held during the fourth week of the program. The main topic was ‘En- trepreneurship and Sustainable Development’. Three presenters and three discussion Mon Tue Wed Thu Fri 4/19 4/20 4/21 4/22 4/23 panelists as well as all ETHOSians (26 teams) participated. Discussion panelists were Seda 1st BM Session 1st BM Session 2nd BM Session Pahlavooni [WBG], Jacob Fohtung [JamanInclusive (Cameroon)], and Jungmin Lim [Seoul Team 1,3,5,7 Team 2,4,6,8 Team 1,3,5,7 National Univ.]. Please refer to the Book 2 for detailed information. 4/26 4/27 4/28 4/29 4/30 2nd BM Session 1st IR Session 1st IR Session Team 2,4,6,8 Team 1,3,5,6,7 Team 2,4,8 5/3 5/4 5/5 5/6 5/7 1st IR Session 1st IR Session Team 1,3,5,7 Team 2,4,6,8
v-ETHOS Mentoring Schedule
Mentoring Schedule - 1st Week 058 059 1.2 Contents of Each Mentoring Sessions Session Subject Detail BM mentoring Meet up & Mentoring - PT (10-15mins per each mentee) Session 1 planning - Individual coaching about business model 30 mins lecture about business model (Item, Finance) - BM mentoring Business Modeling - Revised PT check Session 2 - Coaching and peer comment IR mentoring Pitching deck develop- - 30 mins lecture about business pitching Session 1 ment - Pitching deck check and individual coaching IR mentoring Pitching skill develop- - Revised pitching deck check Session 2 ment - Pitching rehearsal
Mentoring Session Guide Twenty-seven teams participated in the mentoring program, which were divided into
Mentoring Schedule – 2nd Week a total of eight teams. The team composition is shown in Table 40. Each team participated in two investor relations mentoring sessions and two business mentoring sessions. 1.3 Mentor-Team Assignment Affiliated Institu- Position Mentor Mentoring Type Assigned Team tion (job title) Hwasung Jeon CNT Tech CEO Business Modeling Team 1,2 Sokjin Chang Born2 Global Director Business Modeling Team 3,4 Hyeri Hyun The Bridge Team Leader Business Modeling Team 5,6 NH Investment & Senior Vice Presi- Business Modeling Team 7,8 Seungtae Hwang Securities dent Investor Relations Team 3,4 Soongkyu No Born2Global Manager Investor Relations Team 1,2 Hyunjung Lim The Bridge Manager Investor Relations Team 5,6
Mentoring Schedule – 3rd Week Miyoung Yeo Studio D3 CEO Investor Relations Team 7,8
Mentor-Team Assignment The schedule of the three-week intensive mentoring program is shown in Figure 28, 29, 30, which included eight teams. The business mentoring was conducted according to Each team was composed of three-four participants who shared a similar business the needs of each team, such as customer analysis, profit model review, business feasibili- concept and had a comparable business level development. ty evaluation, market research methods, and cost structure. Meanwhile, Investor Relations mentoring focused on pitch deck design, storytelling, and presentation methods. 060 061 1.4 Mentoring: Before and After The ‘High’ level of classification represents teams that implemented the largest chang- es in their pitch decks, which centered mostly on: For young entrepreneurs or startup founders, mentoring plays a critical role. Mentors can transfer decades of institutional knowledge to driven, talented newcomers. Most first- 1. Modification of Investment framework & logical flow time entrepreneurs will face various obstacles and experience failures. Mentors have valu- 2. Compliance with general business presentation guidelines able experiences regarding failures and can help mentors identify the types of failures to 3. Improved business model description expect and how to avoid them. Mentoring enables the development of management skills 4. Rephrasing of technology-heavy information into more business focus and may be more cost-effective than up-front prescribed training in the long run as it sup- 5. Eliminated unnecessary information ports entrepreneurs in their development life cycle (Sullivan 2002). 6. Clarified explanation of products and features During the v-ETHOS program, thirty-two sessions of mentoring were provided to par- 7. Revised language and grammar ticipants and the overall satisfaction was very high. As most of the teams were still at seed stage, learning from successful startup founders in Korea was a positive learning experi- Teams in the ‘Medium’ classification made fewer adjustments after the mentoring ses- ence. sions, with modifications centered on: As pitch decks are one of the key components used to give investors a concise snap- shot of a company, these mentoring sessions particularly focused on analyzing pitch decks 1. Developed product description of teams. 2. Enhanced description of business development phases Modifications most commonly focused on: 3. Better problem statement and solutions 4. Addition of data for more evidence-based problem solving 1. Product Description 5. Completion of a competitor analysis and market research 2. Company portfolio 6. Improved mission statement and vision 3. Business model 4. Mission and Vision Teams with minimum changes, the ‘Low’ classification group, are divided into two dis- 5. Market validation and strategy tinct groups. The first group is the one that already had a solid business model, which did 6. Competitive advantage not require significant changes after the mentoring sessions. The second group includes 7. Design and wording improvements participants who received significant feedback from mentors but were unable to adjust 8. Client and partnership lists their business models. Typically, these groups were at a very early stage of their business 9. General information about the company development and need further support to accompany them and motivate them. 10. Cost analysis, investment and projection 11. Supply chain 12. COVID-19 We classified the levels of change of each team’s pitch decks into three levels: High, Medium, Low (This represents the level of change, not the quality). 062 063 Themes Product Company Business Mission and Market validation and Competitive Design and wording Client and partnership General information Cost analysis, investment and Supply COVID-19 2. Tech Partnership Experiences Description portfolio model advantage about the chain vision strategy improvements lists projection company Business Market Competitive Supply COVID-19 context 1 Features Milestones Goal Keywords Client list Contact info Projection plan validation advantage chain and tech match Company past Market size Existing Team Price Company’s 2 App mock up and future Mission and product and its Images Partnership members and comparison and capacity summary opportunities limitations founders scaling Business Tech Partners Affiliated Institution Position (job title) 3 Service concept Success stories Vision Target market Benefits Slogan Introduction Cost structure model 4 Demonstration of a program Key achievements Business phase Problems Market background Hyperlink Sales stats and projections Youjin Choi Classum COO Annual project Global Clear target 5 QR code IR requirement time line vision group Ah-rum Choi Dot Inc. Director Emphasis of a Market Investment 6 Cover page portfolio channels allocation 7 Impact Market Video Revenue streams Winnie Badiah Wazinsure CEO strategy 8 Graphs Young Gwang Chu Live’s Talk Project Manager 9 Thank you page Mutembei Kariuki Fastagger CEO 10 Figures 11 Wordings Chand Gudi Vyobotics CEO 12 Numbers Tony Taewon Han Coconut Silo COO 13 Section dividers Jihoon Ryu Idciti CEO 14 Simplified 15 Narrative slide Ian Low Jian Liang Trabble CEO 16 Statistics Kevin Choi Medi Whale Inc. COO
List of Revisions on Pitching Deck After Mentoring Sessions
List of Revisions on Pitching Deck After Mentoring Sessions Youngho Baik Ecolant Chief Consultant Jaewon Lee Milk for Lao CEO
Participated Tech Partners 2.1 Tech Partnership Session Schedule EST KST Group April 27th April 29th May 4th May 6th 1st Session 2nd Session 3rd Session 4th Session Fastagger Trabble Dot Inc. Idciti 7:00- 20:00- Live’s talk Coconut Silo Vyobotics Ecolant Group1 8:10 21:10 Medi Whale Classum Wazinsure Inc. Idciti Fastagger Trabble Dot Inc. 8:10- 21:10- Ecolant Live’s talk Coconut Silo Vyobotics Group2 9:20 22:20 Medi Whale Wazinsure Milk for Lao Classum Inc. (Absent) Dot Inc. Idciti Fastagger Trabble 9:20- 22:20- Vyobotics Ecolant Live’s talk Coconut Silo Group3 10:30 23:30 Medi Whale Wazinsure Classum Inc.
Tech Partnership Session Schedule 064 065 The goal of Tech Partnerships is to promote technological advancement through the introduction of tech startup solutions from Korean startups, and to expand network with Locust Hunters, Automation, Prodestic App Maker, IT Consulting Korean startups. Three tech partners gave presentations in every session followed by Q&A and networking for thirty minutes. These activities were conducted on a rolling basis to enable the twelve tech partners to meet all the groups. Insure Tech, Fintech DigiPay 2.2 Tech Partner Selection Seamless Booking Platform (Automating 1000 Hills Traveler Twelve tech partners were selected based on the following criteria: a) tech core pres- Travle & Hospitality industry) ence b) willingness to connect with developing countries c) relevance with participants’ business development concept. Make Mobility Easy DATA PM Tech Partner Company Main Solution Matching Participant The Fastest Detection PFMS AIaaS (Deep Learning Algorithm) TechVico (Artificial Intelligence as a Service)
Tech Fit between Tech Partners and Participants Nomad Solution Tap Effect (Communication Infrastructure) The above table matches participants with relevant tech partners. Educational Communication Tool Tech For Kids Academy (Data Report, AI Assistant) 3. Demo Day Experiences Enabling Your Business 3.1 Schedule (Expert in design, build and support of complex IT St Digital solutions) Mon Tue Wed Thu Fri 5/10 5/11 5/12 5/13 5/14 IoT Smart Street Light Solution Cyan EcoTech Business Gallery 1 Business Gallery 2 (Group1,2,3) (Group 1,2,3) 5/17 5/18 5/19 5/20 5/21 Assistive Devices with Demo Day 1 Demo Day 2 WatchIT Tactile communication tech (Group1,2) (Group 1,2)
v-ETHOS Final Pitching Schedule 066 067 3.2 Business Gallery 16 Yang Hyun Kim Student Student 17 Yeji Kim Student Student The General Treasury of The 18 Jari Head of departement Kingdom of Morocco Junior Account Manager for 19 Jinha Seo Amazon Web Service Startups 20 Dain lee Korea development bank senior manager 21 Jinhyeok Choi Better World Director 24 Bah Rodrigue BAHROCEL Manager 25 Jaeyoung Park Intern 26 Hyolee Han Thermofisher Scientific Korea Financial Analyst
Business Gallery Audience List
Business Gallery Session (Group1) To allow participants to rehearse in a setting like the Demo Day, an audience com - Two ‘Business Gallery’ sessions were held during the fourth week of the program, posed of twenty-six members was recruited for the Business Gallery sessions. with each composed of presentations followed by a Q&A – for an overall three-hour ses- sion. 3.2.2 Sample Conversations from Business Gallery 3.2.1 Audience Information Business Gallery 1, Group 1 Q. Tamnjong Larry: what is the biggest risk to your startup? No Name Affiliated Institution Job Title A. Rednaks: Our biggest risk is Tunisia: It is very likely that companies in Tunisia do not understand 1 Jay Lee Sirloin Marketing very well the added value of our model. That’s why we aim to target other countries in North Africa. 2 Basheer Sharaf GASG Co-Founder We have another solution that we just launched, it’s a marketplace- It’s already live since October. The marketplace aims to help companies during the pandemic: We basically have the SAS application that 3 Jihoon Ryoo SUNY Korea Member has nine modules and we have a marketplace to help companies sell their products online - both appli- 4 Sohyun lee Student Student cations are linked together and have a seamless transition between both. Our goal is to try to remove 5 Taejin Jeon KOICA Assistant Manager barriers between offline and online commerce. We are basically trying to unite them through the Mar- ketplace, which is an online shop. 6 Chand Gudi Vyobotics CEO 7 Youngho Baik ECOLANT General Manager Business Gallery 1, Group 2 8 Jongseo Jung SUNY KOREA Student Q. Elie Akayezu: My question is about to the main objective of the smarter buses. The main object is that smarter buses or also another service or application? Can it be also applied to different countries. 9 Jae yeon Jo Student Student Can anyone buy it and apply in his country? 10 Humphrey Odame - Adjei Ph.D Student Student A. Smarter Buses: What I’m trying to do is the smarter buses, which is a tailored solution for every 11 HyeSu Kwon Student Student system or county. So, the system will have settings customizable for any system. That’s why we want to 12 Loic Mbougeko Tagne Kalicomfort corporation CEO start with our country and then we will go to other countries and make the cultural and settings inte- grated for other countries. 13 Jacob Fohtung Jamani Corporate Group, LLC Founder 14 Desmond Takwi CamPay CEO 15 Wonnyung Kim The Korea-Africa Foundation Director 068 069 Business Gallery 2, Group 3 Sharee Lao PDR O Q. Ray Baik: For Digipay, what is your competitive edge among Fintech industry? Team6 Tech for Kids Academy Cambodia O A. Digipay: In our market, currently, there is no direct competitor. We are the only one that has this Multi Meter Machine Vietnam X system set up, with a large network. We are the only company that can release a mobile app in App Rednaks Tunisia O store that interview multiple financial and insurance services, because the App Store is very restricted on this. However, our company is compliant with the international standard for Information Security 3DWAVE Tunisia O Team7 Management System - that’s why we were able to release our application on the App store. DATA PM Tunisia O Even if we had a direct competititor, our advantage lies in our ability to provide customers with multiple WatchIT Group Rwanda O choices rather than limited products or services from a specific company. So, in conclusion, the main competitor is our sale. We have to become big enough to attract the largest PFMS Cameroon O number of financial services to partner with us and become available on our platform. digiTAL Lebanon O Team8 Crowdpowered Lebanon O Questions of the Business Gallery mainly focused on: 1) competitive edges, 2) target (Suntrepreneur) QINASH Ethiopia X market, and 3) risks and opportunities. 8 27 16 18
Demo Day Participants 3.3 Demo Day 3.3.1 Demo Day Participants Team Participant Country Demo Day Bit Bait (quitted) Algeria X Team1 Blue Filter Palestine (Gaza) O Jerika Rwanda O Prodestic Cote d’Ivoire O Team2 St Digital Cameroon O Smarter Buses Lebanon O GreenJoy Vietnam O TECHVICO Vietnam X Team3 TapEffect Cambodia O DIGIPAY Vietnam O Cyan Eco Tech Cambodia O Team4 Kind Cash Vietnam X
Demo Day Live Session Screenshot Kynos Vietnam X 1000 Hills Traveler Rwanda X Team5 MYCOFOUNdER Georgia X Demo Day 1 and Demo Day 2 were held on May 18 and May 20. Demo Day sessions GNMSN project Rwanda X were held simultaneously in different online meeting rooms. 070 071 gels), Namhoon Koo (Headstart Silicon Valley), Keehwan Kwon (KK Fund), Minchi Park (500 3.3.2 Session Schedule of Demo Day Startups), Hwasung Jeon (CNT Tech), Hyunjae Shin (D3Jubilee Partners), Namhee Yoon (Impact Square), and Jinsol Hwang (TheBridge). Time (KST) Subject 8:00 - 8:05 Opening 3.3.3 Invited Investors for Demo Day 8:05 - 8:35 Pitching (Rednaks | Watch IT Group | 3DWAVE) 8:35 - 8:50 Q&A Name Affiliated Institution Position 8:50 - 8:55 Break Time Sokjin Chang Born2Global Director of International Cooperation 8:55 - 9:25 Pitching (Blue Filter | Jerika | PFMS) Cheolhyeon Uhm Nanhum Angels Investment Founder & CEO 9:25 - 9:40 Q&A Namhoon Koo Headstart Silicon Valley CEO 9:40 - 9:45 Break Time Keehwan Kwon KK Fund Project Manager 9:45 - 10:15 Pitching (Prodestic| St Digital | DATA PM) Minchi Park 500 Startups Program Manager 10:15 – 10:30 Q&A Hwasung Jeon CNT Tech CEO 10:30 – 10:35 Closing Hyunjae Shin D3Jubilee Partners Principal
Demo Day Schedule of Group 1 Namhee Yoon Impact Square Director Jinsol Hwang TheBridge CEO Time (KST) Subject
List of Invited Investors for Demo Day Time (KST) Subject 8:00 - 8:05 Opening 8:05 - 8:35 Pitching (Crowdpowered | TapEffect | GreenJoy) 3.3.4 Demo Day 8:35 - 8:50 Q&A 8:50 - 8:55 Break Time Demo day is an event where the ETHOS participants demonstrate and receive valu- 8:55 - 9:25 Pitching (Smarter Buses | Cyan EcoTech | Sharee) able inputs from experienced investors. The investor/panelists who joined in on the 9:25 - 9:40 Q&A ETHOS Demo day did so mainly because  1) they already have interests in a specific region 9:40 - 9:45 Break Time or countries, 2) they have found attractive business item on the Demo list, or 3) simply out 9:45 - 10:15 Pitching (digiTAL | Tech for Kids Academy | DIGIPAY) of curiosity for a potential business connection with exotic markets. 10:15 – 10:30 Q&A Investors with a different set of reasons, expectations and intentions have come to 10:30 – 10:35 Closing the Demo day to share real experiences with ETHOS participants. As usual, valuable, criti-
Demo Day Schedule of Group 2 cal, and encouraging comments were given which was unanimously positive both for the investors and participants. The response from the Korean investors can simply be sum- A total of eighteen companies (67%) entered the Demo Day and teams were reorga- marized as: ‘an eye-opening experience to the business potentials of developing and FCV nized into two groups instead of three. Groups were divided based on their locations. Each countries.’ team participated in two sessions, composed of a ten-minute pitch followed by a five-min- As of Dec. 2021, two cases are progressing through ETHOS Demo sessions. 1) ute Q&A per team. Greenjoy from Vietnam has had follow-up meeting with Korean investors. Greenjoy’s natu- Invited investors were Sokjin Chang (Born2Global), Cheolhyeon Uhm (Nanhum An- ral and bio-degradable straw is getting attention from Korean companies. 2) 3DWave from 072 073 Tunisia is also having business conversations with Korean computer graphic/2D compa - IV. Monitoring & Evaluation nies for a possible business development. More are expected to have new business oppor- tunities and business partnership building. 1. v-ETHOS Survey Result Demo Day 1, Group 1 Q. Charles Uhm: You guys mentioned some of the traction numbers at a particular time, but I just want- Program Evaluation Questionnaire ed to know whether you have these quarterly or monthly figures. How are you growing your business, - Overall Evaluation or do you have the growth projections for the next two months? A. Lectures / Webinar A. Scander (Rednaks): So, we just started this company in the last eight months - I think, and for the 1. Program Contents B. Mentoring marketplace, it’s growing quite rapidly. We have so far 500 clients so, it’s growing 10% every month - C. Tech Partnership Session with only two vendors at the moment, the SAS application and the marketplace. It will continue to grow D. Networking among ETHOSians quite rapidly because now we have the support and some funding from our government, so every - Overall Evaluation month now everything is expected to change quite rapidly A. Length / Times 2. Program Operation B. Staff Support Demo Day2, Group 2 C. Promotion Q. Minchi Park: So I have two questions. One is more a clarification and the second is a direct question. You mentioned $2 million in revenue, is this a monthly revenue or a yearly revenue? 3. Suggestions for ETHOS - Open Question A. Georges(Crowdpowered): Well this is the revenue at the particular year, but starting that year, we
Program Evaluation Questionnaire Summary only included the vertical rooftop solar power for homes, and then starting this year, we have other two verticals that we’re tackling - which are the agriculture market, and the CNI market. So, these are projects that are bigger in ticket size but smaller in numbers. Those were favoring creat- A program evaluation survey was conducted using Google survey form from June, 7 ing as many jobs as possible for the electricians but then afterwards, the revenues will go up because to June, 30. About thirty participants responded to the survey. we are tackling bigger ticket projects. As for the competition, the main players who launch grid scale contractors in the region are Aqua pow- er and Taka, which are based in Saudi and UAE. Of them, the smaller scale, I mean, the startups that are not really startups, they’re more like individual contractors, but then the SME level companies are 1.1 Overall Evaluation really a yellow door in the Siraj and Saudi. So, these are people who do about $5 million in sales a year. So this is the scale of competitors we’re talking about. 1.1.1 Overall Evaluation of the ETHOS Program Q. Minchi Park: So, can I ask a follow up question, if it’s okay with everyone? You mentioned your com- petitors and you also mentioned that you’ll be tackling the long tail more than the 20% bigger check size, right? So, among your competitors, are they focusing more on the bigger check sizes, meaning the 20%, and you’re going to approach the 80%? A. Georges (Crowdpowered): They’re mostly focusing on the CMI market, because they’re offering financing services that the individuals seem to love having access to - they’re like leasing long-term loans. So, we are focusing on the long tail acquisition. Questions were mainly about: 1) revenue (traction numbers, monthly/yearly reve - nue), and 2) competitive edges and market portion. Total Number of Participants: 30 074 075 1.1.2 Overall Evaluation of Mentoring Session 1.1.4 Overall Evaluation of Networking Total Number of Participants: 30 Total Number of Participants: 30 1.1.3 Overall Evaluation of Tech Partnership Session 1.1.5 Value of Networking Total Number of Participants: 30 Total Number of Participants: 30 076 077 1.1.6 Overall Evaluation of the ETHOS Program Administrative Supports Question 1 2 3 4 5 Mean The topic was of value to me 0 0 3 16 11 4.3 The materials were helpful to my work 0 1 6 10 13 4.2 The lecture was useful to my work 0 0 5 14 11 4.2 Overall evaluation of lecture 0 1 2 16 11 4.2 Lecture3_Reverse Innovation and Entrepreneurial Opportunities for Sustainability in 1.2.1.1.3  Developing Countries (Dr. Jungmin Leonardo Lim, Seoul National University) Question 1 2 3 4 5 Mean The topic was of value to me 0 0 1 15 14 4.4 The materials were helpful to my work 0 0 2 17 11 4.3 The lecture was useful to my work 0 0 3 15 12 4.3 Total Number of Participants: 30 Overall evaluation of lecture 0 0 0 19 11 4.4 1.2.1.1.4 Webinar1_Digital Partnership for Global Entrepreneurs (April 21st) 1.2 Summary Table by Subject Question 1 2 3 4 5 Mean The topic was of value to me 0 0 4 13 13 4.3 1 : Very Unsatisfactory The materials were helpful to my work 0 1 3 13 13 4.3 2 : Unsatisfactory The lecture was useful to my work 0 1 5 11 13 4.2 3 : Moderate Overall evaluation of webinar 0 1 4 12 13 4.2 4 : Satisfactory 5 : Very Satisfactory 1.2.1.1.5 Webinar2_Entrepreneurship and Sustainable Development (May 10th) Question 1 2 3 4 5 Mean 1.2.1 Program Contents The topic was of value to me 0 0 4 14 12 4.3 The materials were helpful to my work 0 0 4 16 10 4.2 1.2.1.1 Lectures/Webinar The lecture was useful to my work 0 0 6 10 14 4.3 1.2.1.1.1 Lecture1_Business Analytics (Dr. Jongdoo Lee, George Mason University) Overall evaluation of webinar 0 0 4 16 10 4.2 Question 1 2 3 4 5 Mean The topic was of value to me 0 0 3 14 13 4.3 The materials were helpful to my work 0 0 6 13 11 4.2 We collected feedbacks from our participants on the lectures and webinars to im- The lecture was useful to my work 0 0 3 11 16 4.4 prove our next ETHOS program. Overall evaluation of lecture 0 0 3 12 15 4.4 Participants acknowledged that it would be useful to include more technology-relat- ed contents, focusing on the latest technology trends like automation, robotics, AI, and blockchain. Participants also mentioned that it would be helpful to include more hands-on 1.2.1.1.2 Lecture2_Get a job or do a startup? (Philip Man, Port Co-founder) practical trainings to build particular business skills such as conducting financial analysis, 078 079 fundraising, running a successful business, building MVP (Minimum Viable Product), and 1.2.1.2 Mentoring using Key Performance Indicators to track growth. In addition, some participants pointed 1.2.1.2.1 Business Modeling Mentoring out that it would be interesting to receive tips and greater know-how about how to operate Question 1 2 3 4 5 Mean a startup in the Korean context as the country is a booming ground for entrepreneurship. Overall evaluation of BM Mentoring 0 0 0 8 22 4.7 Lastly, participants stated that the program should include also practical insights on how The mentor was well prepared 0 0 0 7 23 4.8 to manage mental health as entrepreneurs go through significant amounts of stress during Mentoring helped my work 0 0 1 5 24 4.8 this journey: rapid change, unpredictable environments, intense workload, and financial pressure are all conditions that generate high levels of stress to entrepreneurs (Baron et 1.2.1.2.2 Investor Relations Mentoring al., 2016). Question 1 2 3 4 5 Mean Participants also provided suggestions relevant to the selection of speakers for the Overall evaluation of IR Mentoring 0 0 1 11 18 4.6 next program: they expressed that it would have been valuable to invite founders that The mentor was well prepared 0 0 1 9 20 4.6 have already managed to secure investment and/or Venture Capitalists (VCs) to learn more Mentoring helped my work 0 0 1 8 21 4.7 on the Korean startup ecosystem and their implications. Moreover, other participants ex- pressed interest in wanting to hear the academic perspective on entrepreneurship and Regarding mentoring session, participants believed that the Investor Relations mentor suggested that relevant professors should be invited to the webinars in the future. program was redundant. Also, participants pointed that it would be important for mentors On the other hand, participants shared some dissatisfying elements related to the to be selected from the same field to provide more targeted personal mentorship, which overall program. Some participants felt that a few speakers were not dedicated. Since the has been identified as a priority for participants. They suggested to have ETHOS alumni as whole session was conducted online, participants felt that there was a limitation in deliv- mentors or coaches. Participants also highlighted that more mentoring sessions should be ering the message. Other speakers pointed that sessions could be made more personalized, added and the overall program should be more diverse. and activities such as break-out rooms, pop quizzes, or ‘surprises’ for the audience would be helpful to make people to participate better. Lastly, participants acknowledged that it 1.2.1.3 Tech Partnership Session was unfortunate that the program had to be transformed into a virtual format due to the 1.2.1.3.1 Classum (Youjin Choi) pandemic, since the elements related to networking and engagement program were affect- Question 1 2 3 4 5 Mean ed by this new format. Overall evaluation of session 0 0 7 12 11 4.1 The presenter was well prepared 0 0 5 13 12 4.2 Shared insights were helpful for my work 0 3 4 13 10 4.0 Was networking satisfied? 0 2 6 12 10 4.0 1.2.1.3.2 Dot Inc. (Ah-rum Choi) Question 1 2 3 4 5 Mean Overall evaluation of session 0 0 6 10 14 4.3 The presenter was well prepared 0 0 6 12 12 4.2 Shared insights were helpful for my work 0 2 7 12 9 3.9 080 081 Was networking satisfied? 0 1 7 11 11 4.1 Shared insights were helpful for my work 0 2 7 11 10 4.0 1.2.1.3.3 Wazinsure (Winnie Badiah) Was networking satisfied? 0 1 9 11 9 3.9 Question 1 2 3 4 5 Mean 1.2.1.3.8 idciti (Jihoon Ryu) Overall evaluation of session 0 0 7 10 13 4.2 Question 1 2 3 4 5 Mean The presenter was well prepared 0 0 6 11 13 4.2 Overall evaluation of session 0 0 6 13 11 4.2 Shared insights were helpful for my work 0 2 9 10 9 3.9 The presenter was well prepared 0 0 6 13 11 4.2 Was networking satisfied? 0 2 9 8 11 3.9 Shared insights were helpful for my work 0 1 8 11 10 4.0 Was networking satisfied? 0 1 6 14 9 4.0 1.2.1.3.4 Live’s Talk (Young Gwang Chu) Question 1 2 3 4 5 Mean 1.2.1.3.9 Trabble (Ian Low Jian Liang) Overall evaluation of session 0 0 6 11 13 4.2 Question 1 2 3 4 5 Mean The presenter was well prepared 0 0 7 12 11 4.1 Overall evaluation of session 0 0 9 10 11 4.1 Shared insights were helpful for my work 0 1 9 9 11 4.0 The presenter was well prepared 0 0 8 11 11 4.1 Was networking satisfied? 0 2 10 9 9 3.8 Shared insights were helpful for my work 0 2 9 9 10 3.9 Was networking satisfied? 0 1 11 9 9 3.9 1.2.1.3.5 Fastagger (Mutembei Kariuki) Question 1 2 3 4 5 Mean 1.2.1.3.10 Medi Whale Inc. (Kevin Choi) Overall evaluation of session 0 0 5 14 11 4.2 Question 1 2 3 4 5 Mean The presenter was well prepared 0 0 7 12 11 4.1 Overall evaluation of session 0 0 7 14 9 4.1 Shared insights were helpful for my work 0 1 8 13 8 3.9 The presenter was well prepared 0 0 7 11 12 4.2 Was networking satisfied? 0 1 8 13 8 3.9 Shared insights were helpful for my work 0 1 9 11 9 3.9 Was networking satisfied? 0 1 10 13 6 3.8 1.2.1.3.6 Vyobotics (Chand Gudi) Question 1 2 3 4 5 Mean 1.2.1.3.11 Ecolant (Youngho Baik) Overall evaluation of session 0 0 7 11 12 4.2 Question 1 2 3 4 5 Mean The presenter was well prepared 0 1 5 14 10 4.1 Overall evaluation of session 0 0 6 12 12 4.2 Shared insights were helpful for my work 0 2 9 9 10 3.9 The presenter was well prepared 0 0 6 13 11 4.2 Was networking satisfied? 0 2 10 9 9 3.8 Shared insights were helpful for my work 0 1 8 11 10 4.0 Was networking satisfied? 0 1 6 10 13 4.2 1.2.1.3.7 Coconut Silo (Tony Taewon Han) Question 1 2 3 4 5 Mean Overall evaluation of session 0 0 8 10 12 4.1 Overall, participants stated that it would be better to have more engaging members: The presenter was well prepared 0 0 7 12 11 4.1 they mentioned that there was a lack of two-way communication as Q&As were left until the end of the sessions. In addition, they mentioned that it would have been useful to have 082 083 tech partners in various fields and even more desirable if they were able to select partners 1.2.2.2 Staff Support from relevant fields. 1.2.2.2.1 Staff Support 1.2.1.4 Networking among ETHOSians Question 1 2 3 4 5 Mean Overall evaluation 0 1 0 12 17 4.5 Regarding the networking session among ETHOSians, participants expressed that they Staff supports 0 1 0 13 16 4.5 would also like to meet members from outside their groups and spend more time in small Responsiveness to issues 0 1 0 12 17 4.5 groups. Lastly, participants thought it would be useful if members’ contact information was shared across ETHOSians. Participants were overall quite satisfied with the administrative support. 1.2.2.3 Promotion 1.2.2 Program Operations 1.2.2.1 Length/Times For program promotion, it would be beneficial to use startup communities/incubators and alumni networks in the future. Also, it will be necessary to narrow the criteria for se- Too short/ Short/ Long/ Too long/ Question Good less less much much lection of applicants to ensure a more cohesive cohort at a more-or-less similar business Overall evaluation 0 3 24 2 1 development stage. Five weeks session 0 4 24 1 1 Mentoring times 2 6 20 2 0 (4 times) 1.2.3 Suggestions for ETHOS Mentoring length 2 5 19 4 0 (2 hours) Overall, participants expressed their wish to have more offline meetings to promote Tech Partnership times 0 5 20 5 0 (4 times) engagement. Also, participants wished to have greater diversity in the agenda and addi- Tech Partnership PT length tional sessions on pitching, fundraising and more meetings with potential investors. 0 4 22 4 0 (15 mins) Webinar 1 3 21 5 0 Lecture 1 1 24 4 0 Business Gallery 2 1 23 3 1 Demo Day 2 0 25 2 1 Regarding the overall operations of the program, participants highlighted the need to add more mentoring sessions and to devote more time for Demo Days. 084 085 2. ETHOS Follow-up Interview Result 2.1.2 Improvements v-ETHOS follow-up interviews were carried out from June 28, to July 5, 2021. Jangik First, mentees would like to have more customized Tech Partnership sessions. Some Lee [Project Manager], Chanmi Kim [Program Coordinator], and Yerin Cho [Program Coor- participants expressed that there was not a suitable partner to collaborate with and/or dinator] interviewed 24 teams out of 26 teams. discuss their products in more depth. Second, they think the agenda should include more variations in lectures and webinars with greater emphasis on tech-content and business operations for founders, since they are still in their early stage of development. Third, 2.1 Follow-up Interview Result more personalized mentoring sessions and mentors from diverse backgrounds should be provided. Moreover, mentoring sessions should be longer and more breakout rooms for 2.1.1 What was Good networking are needed. Participants also want this program to be a long-lasting platform so that ETHOSians, including alumni, can stay in touch and create a strong network. Fi- First, most participants found that the mentoring sessions were of great help: They nally, many mentees expressed the need of greater funding and grants opportunities, espe- were able to improve their business model and pitch decks. they also pointed out that cially for startups from FCV countries or developing countries. they were able to develop strong pitching skills during the Business Gallery and Demo Day. They also acknowledged that they learned a lot from other ETHOSians. Lastly, one of the 2.1.3 Technical Supports What ETHOSians need greatest achievements is the business collaborations between ETHOSians, tech partners and mentors created throughout the program. Table 53 shows the collaborations created Figure 33 shows technical supports that ETHOSians looked-for the most. among participants. Mobile Application Collaborated Members Development Cyan Eco Tech Greenjoy Both green-tech startups [Cambodia, Participant] [Vietnam, Participant] Digipay Kind Cash Both fin-tech startups Cloud AI [Vietnam, Participant] [Vietnam, Participant] Technology Technology Tech for Kids Academy Classum Both edu-tech startups [Cambodia, Participant] [Korea, Tech-partner] Techvico Coconut Silo[Korea, Both mobility-tech startups [Vietnam, Participant] Tech-partner] Cyan Eco Tech Sokjin Chang Institutional support [Cambodia, Participant] [Born2Global, Mentor] 3DWAVE Miyoung Yeo Blockchain Web Business opportunities [Tunisia, Participant] [Studio D3, Mentor] Development Development
Collaborations among Participated Members
Technical Needs from ETHOSians
Technical Needs from ETHOSians 086 087 V. Conclusions and Lessons Learned knowledge sessions and especially from business modeling and mentoring sessions. One good example is an attempt to replace plastic straw with natural material, which has re- ceived significant positive responses from the investors. 1. Key Conclusions • Investing in People. Digital technology and entrepreneurship are strategic drivers of economic and social The ETHOS experience demonstrated the value of investing in people by sharing development for a country. For developing and FCV countries, the needs for supporting knowledge, skills and business connections. This report showed that some of the funda- and promoting digital technology-based entrepreneurship are more evident as entrepre- mental outcomes of this program are the collaboration amongst participants to co-create neurs in these countries face greater barriers and obstacles: lack of investment opportu- and find solutions to the most pressing challenges. As evidenced from the first ETHOS in nities, high entry barriers, skills shortage, and lack of technical support are to name a few. 2015, the value in cooperation was equally constructive to both entrepreneurs from devel- The ETHOS program was unique and valuable in its efforts to provide support and solu- oping and FCV countries as well as to those from developed countries. tions to young entrepreneurs from diverse developing and FCV countries. Social entrepreneurship has proven to provide impactful innovations for ‘poverty Despite the promising impact of ETHOS in promoting digital entrepreneurship, en- eradication’. As demonstrated in this report, the ETHOS program was valuable to support trepreneurs from developing and FCV countries continue to face significant hurdles and the World Bank’s mission in various ways: challenges. The program will therefore need to be further developed and expanded to pro- vide much-needed support to entrepreneurs and contribute to building an equitable and • Achieving economic stability. sustainable entrepreneurial ecosystem. The ETHOS program helped to fill the gap in knowledge and digital technology part- nership. As demonstrated by the experience of ETHOS participants, the mentoring and technology partnership programs helped members expand and scale up their businesses, which is likely to result in more job creation opportunities and greater prospects for con- necting to global markets. • Leveraging the digital revolution. The ETHOS program has demonstrated that online collaboration is not only possible but also constructive for business mentoring and development. The v-ETHOS platform can provide an efficient and convenient channel for business development. Moreover, this program has been successful in promoting global cooperation between developing and de- veloped countries in the field of digital technology. • Making development greener and sustainable. This report showed that young entrepreneurs from developing and FCV countries are very much aware of the sustainability and environmental impact of their business ef- forts. The green and sustainable businesses were more emphasized and enhanced through 088 089 2. Lessons Learned for Future ETHOS The platform also enabled the ‘storing’ of all activities for further dissemination. How- ever, it is important to note that the success of the virtual format experience would not The following section aims to summarize the discussion on the ETHOS experience of have been possible without two key factors: 1) Selection of competent ETHOS participants SUNY Consortium members, ETHOS participants from developing and FCV countries and through a stringent process. This report showed that efforts were deployed to find suitable entrepreneurship experts. It attempts to highlight key lessons learned for promoting a entrepreneurs not only to increase the interests of investors, but also to provide a valuable successful learning experience for entrepreneurs from developing and FCV countries. This network among the ETHOS cohort. It is also worth noting that the level of business ma- report showed that, despite the differences in business development stages and diversity turity and development should be more-or-less homogenous to provide a better learning of business themes, as well as national/regional characteristics, most entrepreneurs had environment. 2) The quality and competence of mentors are another key success factor. similar “next-steps” that need to be addressed. These common needs are summarized be- In addition, mentors who have large networks can act as important agents to strengthen low and aim to provide insights for future ETHOS implementation. business networking with developing and FCV countries. • Digital technologies are imperative for any business startups. • Investments and/or incentives. Digital technologies are a fundamental ‘enabler’ and ‘enhancer’ to all entrepreneurs It is common practice for most entrepreneurship programs to provide investment op- in the ETHOS program. From agricultural products to professional businesses services, dig- portunities and/or incentives for participants. These opportunities should be particularly ital technology is the backbone infrastructure for all entrepreneurs. Providing secure and emphasized as they will strengthen the motivation of young entrepreneurs as well as en- robust ICT infrastructure is therefore a vital element for the socio-economic development hance the commitment of mentors and investors as well. A contingency plan for securing of any country. While building a national ICT infrastructure is beyond our scope, building third-party commitment to provide investment opportunities either in the form of grants digital technology partnerships between developed, developing and FCV countries is the or seed-funding should be actively considered. One promising development towards this core contribution of the ETHOS program to this mission. Digital cooperation is not always goal is the recent approval received from the Ministry of SMEs and Startups to invest in a unilateral direction: As demonstrated with the case of 3DWAVE from Tunisia, joint busi- foreign start ups, especially from developing countries, which SUNY consortium members ness ventures can occur where the application and development of digital technologies and mentors have strived to receive. Additionally, corporate venture capital offices and the can be shared not transferred. Korean Aid Agency (KOICA) are showing greater interest in providing funds. Increasing in- vestment opportunities in the ETHOS program will most certainly increase the program’s overall entrepreneurial impact in developing and FCV countries’ entrepreneurship build- • Focus on human factors. ing efforts. The ETHOS II program was implemented in a completely virtual format due to the global COVID-19 pandemic. Considering that participants in ETHOS I spent 4 to 6 weeks to- gether in Korea, the quality of the overall experience was a concern at the planning stage. • Long-term perspectives. Yet, the virtual format proved even more valuable for participants in certain aspects: For One of the most shared feedback from ETHOS participants is that they appreciate the instance, the online platform enabled self-paced learning, which was particularly useful value of the program and hope to continue the conversation through a long-term sustain- for people with tight schedules. able ETHOS platform. 090 091 ETHOS was able to cultivate a strong alumni network with mentors and investors VI. References from more than thirty developing and FCV countries. To leverage this network for the ‘poverty eradication’ mission, it is vital to provide a long-term ETHOS platform. The MOOC initiatives based on ETHOS experiences could serve as a promising first approach towards Altun, Y. (2021, April 9). Pandemic Fuels Global Growth Of Entrepreneurship And long-term and continued support for young and talented entrepreneurs. Startup Frenzy. https://www.forbes.com/sites/forbestechcouncil/2021/04/09/pandemic-fu- els-global-growth-of-entrepreneurship-and-startup-frenzy/?sh=7fa745057308 Baron, R. A., Franklin, R. J., & Hmieleski, K. M. (2016). Why entrepreneurs often expe- rience low, not high, levels of stress: The joint effects of selection and psychological capital. Journal of management, 42(3), 742-768. Khong-khai, S., & Wu, H. Y. (2018). Analysis of Critical Success Factors of Startups in Thailand. Indian Journal of Public Health Research & Development, 9(11). Paradise, A. (2020, Feb 13). Why Mentorship Is Essential For Entrepreneurs. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2020/02/13/why-mentorship-is-essen- tial-for-entrepreneurs/?sh=a21e2017e6b5 Startup Genome. (2020). The Global Startup Ecosystem Report. https://startupgenome. com/reports/gser2020 St-Jean, E., & Audet, J. (2009). Factors Leading to Satisfaction in a Mentoring Scheme for Novice Entrepreneurs. International Journal of Evidence Based Coaching & Mentoring, 7(1). Sullivan, R. (2000). Entrepreneurial learning and mentoring. International Journal of Entrepreneurial Behavior & Research. United Nations. (2021). COVID-19 widened the chasm between Least Developed Coun- tries and the rest – new UN report. https://www.un.org/ohrlls/news/covid-19-widened- chasm-between-least-developed-countries-and-rest-–-new-un-report van der Sijde, P., & Weijmans, G. (2013). Benefits and impact of mentoring for entre- preneurs: the entrepreneur’s perspective. International journal of human resource studies, 3(4), 194. Hudson‐Davies, R., Parker, C., & Byrom, J. (2002). Towards a healthy high street: developing mentoring schemes for smaller retailers. Industrial and commercial training. World Bank Group. (2021). https://www.worldbank.org/en/home 092 093 Appendix 15 GNMSN project 16 1000 Hills Traveler Rwanda 4 17 Jerika Appendix A: List of ETHOS II Participants 18 WatchIT Group - Pilot 19 PFMS Cameroon 2 20 St Digital No. Company Country 21 Sharee Lao PDR 1 1 TapEffect 22 DATA PM 2 LBS (AEBIZ) Cambodia 3 23 3DWAVE Tunisia 3 3 SmartBin Cambodia 24 Rednaks 4 Real Pixels Sri Lanka 1 25 BLUE FILTER Palestine (Gaza) 1 5 RecyGlo Myanmar 2 26 Bit Bait Algeria 1 6 Kind Cash 27 QINASH Ethiopia 1 3 countries 6 12 countries 27 - Main session No. Company Country 1 GreenJoy 2 Multi Meter Machine 3 Kind Cash Vietnam 6 4 TECHVICO 5 Kyons project 6 Digipay 7 MYCOFOUNdER Georgia 1 8 Crowdpowered (Suntrepreneur) 9 digiTAL Lebanon 3 10 Smarter Buses 11 Cyan Eco Tech 12 Tech for Kids Academy Cambodia 3 13 TapEffect 14 Prodestic Cote d’Ivoire 1 094 095 Appendix B: Survey Questionnaire A.4 : Webinar 1_Digital Partnership for Global Entrepreneurs (Apr.21st, Wed) The topic was of value to me ① ② ③ ④ ⑤ v-ETHOS Program Evaluation Form The materials were helpful to my work ① ② ③ ④ ⑤ The lecture was useful to my work ① ② ③ ④ ⑤ Overall evaluation of lecture ① ② ③ ④ ⑤ 1. Program Contents [Overall question] A.5 : Webinar 2_Entrepreneurship and Sustainable Development (May.10th, Mon) Q1. What is your overall evaluation of the ETHOS program? The topic was of value to me ① ② ③ ④ ⑤ Very unsatisfactory Very satisfactory The materials were helpful to my work ① ② ③ ④ ⑤ ① ② ③ ④ ⑤ The lecture was useful to my work ① ② ③ ④ ⑤ Overall evaluation of lecture ① ② ③ ④ ⑤ A. Lectures / Webinar Additional questions A. Are there particular topics you would suggest for future ETHOS? Please list: A.1 : Lecture 1_Business Analytics (Dr.Jongdoo Lee, George Mason University) The topic was of value to me ① ② ③ ④ ⑤ The materials were helpful to my work ① ② ③ ④ ⑤ B. Are there speakers/lecturers you would recommend for future ETHOS? The lecture was useful to my work ① ② ③ ④ ⑤ Overall evaluation of lecture ① ② ③ ④ ⑤ Comments that will help us to improve the ‘Lecture/Webinar’ part of ETHOS: A.2 : Lecture 2_Get a job or do a startup? (Philip Man, Port App Co-Founder) The topic was of value to me ① ② ③ ④ ⑤ The materials were helpful to my work ① ② ③ ④ ⑤ The lecture was useful to my work ① ② ③ ④ ⑤ Overall evaluation of lecture ① ② ③ ④ ⑤ Lecture 3_Reverse Innovation and Entrepreneurial Opportunities for Sustainability in Develop- A.3 :  ing Countries (Dr.Jungmin Leonardo Lim, Seoul National University) The topic was of value to me ① ② ③ ④ ⑤ The materials were helpful to my work ① ② ③ ④ ⑤ The lecture was useful to my work ① ② ③ ④ ⑤ Overall evaluation of lecture ① ② ③ ④ ⑤ 096 097 B. Mentoring C. Tech Partnership Session B.1 : Overview Very unsatisfactory Very satisfactory C.1 : Overview Very unsatisfactory Very satisfactory Overall evaluation of mentoring ① ② ③ ④ ⑤ Overall evaluation ① ② ③ ④ ⑤ Mentoring team selection ① ② ③ ④ ⑤ Tech partner selection ① ② ③ ④ ⑤ B.2 : BM Mentoring Very unsatisfactory Very satisfactory C.2 : Classum (Youjin Choi) Mentor name Overall evaluation of session ① ② ③ ④ ⑤ Overall evaluation of BM mentoring ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ The mentor was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Mentoring helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ B.3 : IR Mentoring Very unsatisfactory Very satisfactory C.3 : Dot Inc. (Ah-rum Choi) Mentor name Overall evaluation of session ① ② ③ ④ ⑤ Overall evaluation of IR mentoring ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ The mentor was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Mentoring helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ Comments that will help us to improve the ‘Mentoring’ part of ETHOS: C.4 : Wazinsure (Winnie Badiah) Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ C.5 : Live’s Talk (Young Gwang Chu) Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ 098 099 C.6 : Fastagger (Mutembei Kariuki) C.11 : Medi Whale Inc. (Kevin Choi) Overall evaluation of session ① ② ③ ④ ⑤ Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ C.7 : Vyobotics (Chand Gudi) C.12 : Ecolant (Youngho Baik) Overall evaluation of session ① ② ③ ④ ⑤ Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ C.8 : Coconut Silo (Tony Taewon Han) Additional questions Overall evaluation of session ① ② ③ ④ ⑤ A. Please write Korean company names that you will correspond The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ B. Comments that will help us to improve the Tech partnership session of ETHOS: C.9 : idciti (Jihoon Ryu) Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ C.10 : Trabble (Ian Low Jian Liang) Overall evaluation of session ① ② ③ ④ ⑤ The presenter was well prepared ① ② ③ ④ ⑤ Sharing solution helped my work ① ② ③ ④ ⑤ Networking helped my work ① ② ③ ④ ⑤ 100 101 D. Networking 2. Program Operations [Overall question] Roundtalk Very unsatisfactory Very satisfactory Q1. What is your overall evaluation of the ETHOS program administrative supports? Overall evaluation of networking ① ② ③ ④ ⑤ Very unsatisfactory Very satisfactory Networking helped my work ① ② ③ ④ ⑤ ① ② ③ ④ ⑤ Comments that will help us to improve the ‘Networking’ part of ETHOS: A. Platform v-ethos.site Very unsatisfactory Very satisfactory Overall evaluation ① ② ③ ④ ⑤ User convenience ① ② ③ ④ ⑤ Connection stability ① ② ③ ④ ⑤ ZOOM Very unsatisfactory Very satisfactory Overall evaluation ① ② ③ ④ ⑤ User convenience ① ② ③ ④ ⑤ Connection stability ① ② ③ ④ ⑤ Comments that will help us to improve the v-ETHOS platform 102 103 B. Administrative Supports Appendix C: Follow-up Interview Result Administrative supports Very unsatisfactory Very satisfactory - Follow-up Interview at 28th, June Overall evaluation ① ② ③ ④ ⑤ Staff supports ① ② ③ ④ ⑤ Response to issues ① ② ③ ④ ⑤ Follow-up Interview Team Greenjoy Interviewee Nguyen Vo Participants Comments that will help us to improve the ‘administrative supports’ part of ETHOS Interviewer Jangik Lee, Chanmi Kim, Yerin Cho th Date(KSt) 28 , June 1. What was good - Mentoring was really good and I could improve our pitch deck. 2. What was bad / Improvements / Demands - Technical solution should have more diversity. > More customized tech partnership - More relationship with investors, funding. 3. Suggestions for ETHOS [Open] - (if it is meet with our plan, app solution applied in the Vietnam factory) Follow-up Interview Any and all Comments and suggestions for ETHOS: Team Techvico Interviewee Chia Chou Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho Date(KSt) 28th, June 1. What was good - Reached Coconut Silo(tech partner) for potential beta tester. - I learned a lot from my peers. 2. What was bad / Improvements / Demands Need more variety agenda and topic by each week. (e.g. other startups’ struggle, reaching - out to the investors in the region) Thank You. - Want to know how the startups of other regions do (e.g. African startups) Go ETHOS! - (Robotics engineering) 104 105 Follow-up Interview Follow-up Interview Team Digipay Team TapEffect Interviewee Long Phan Thanh Interviewee Nicholas Boerema Participants Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho Interviewer Jangik Lee, Chanmi Kim, Yerin Cho Date(KSt) 28th, June Date(KSt) 29th, June 1. What was good 1. What was good - Mentoring was good 2. What was bad / Improvements / Demands - Meeting other startup was impressed - There’s no related tech partner Hope to have deep coaching. 1:1 mentoring, not team mentoring. For specific problem - 2. What was bad / Improvements / Demands solving, not general problem. >> Personalized mentoring Looking for targeted investors. Company in the developing country and water pipe tech - - Willing to have partnership with south korea’s fintech company looks not that attractive that other high-tech startups. So, we need investors who think im- - (AI engine applying to specific business) pact important. - More tech-specific accelerators, mentors (e.g. K-water) Follow-up Interview Team Cyan Eco Tech Follow-up Interview Interviewee Vong Oudom, Kim chanamrithvatey Team Kyons Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho Interviewee Tu Nguyen Thanh, Thanh Duy Tran th Participants Date(KSt) 28 , June Interviewer Jangik Lee, Chanmi Kim, Yerin Cho th Date(KSt) 29 , June 1. What was good Getting international relationship with Born2Global, they matched a lot of support for - 1. What was good impact tech - Get the good contact with mentors and good insight about business - One of tech partner(Classum) could be a good partner for our startup’s tool - Meeting good potential partner(Greenjoy) among the ETHOSians 2. What was bad / Improvements / Demands - In terms of early stage startup, need more discussion about the problem with mentors. 2. What was bad / Improvements / Demands - Hope to face to face meeting (IoT technology-chip attached the trash bin, cloud technology, Mobile application devel- - - Hope to contact with similar startup in Korea(Riiid) opment) - Follow-up interview at 29th, June Follow-up Interview Team Sharee Interviewee Sitthideth Abhay, Silivanxay Phetsouvanh Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho th Date(KSt) 29 , June 106 107 1. What was good Follow-up Interview - Coaching and mentoring session Team digiTAL Interviewee Deanielle Dawra Participants 2. What was bad / Improvements / Demands Interviewer Chanmi Kim - Growth hacking matrix Date(KSt) 30th, June - (web development, AI, blockchain) 1. What was good Follow-up Interview - Pitch practice opportunities were good Team Tech for Kids Academy - Mentoring was great. I can meet different people and perspectives. Interviewee Chakyra Choeun Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho 2. What was bad / Improvements / Demands th Date(KSt) 29 , June - For more interactive way, we need more break-out rooms (smaller groups) - Survey of every session will be better (e.g. Last 5 mins, everybody go to survey) 1. What was good - Please tell me what happened after Demo Day - Get a connection with Korean startup related online classroom business. - HR/PR, how to scale business - Not only tech side 2. What was bad / Improvements / Demands - Mentoring sessions were too tight Follow-up Interview - (UX/UI design for website development) Team Suntrepreneur Interviewee Georges Khoury Participants Follow-up Interview Interviewer Chanmi Kim Team Multi Meter Machine Date(KSt) 30th, June Interviewee Cong Nguyen Thanh Participants Interviewer Jangik Lee, Chanmi Kim, Yerin Cho 1. What was good th Date(KSt) 29 , June - BM mentoring was great. We could change our business model. - IR mentoring was good. 1. What was good - Mentoring and pitching practices helped our business better 2. What was bad / Improvements / Demands Tech partnership session had limited impact. Because it was difficult to find similar tech - 2. What was bad / Improvements / Demands partners. - (Block chain, AI) - Please match tech partners in the same fields. (e.g. social entrepreneurs) - Follow-up interview at 30th, June Need narrower business stage and field. Also, grouping as similar business stage and - fields. - 5 weeks plan is okay but participating in session everyday was hard. 108 109 - Grant 1. What was good - (web/app development, AI support digital platform development) - Mentorship was good Follow-up Interview 2. What was bad / Improvements / Demands Team Qinash - Hope more Georgian people Interviewee Biniam Alemayehu Participants - More live meeting Interviewer Chanmi Kim - (Web development) Date(KSt) 30th, June Follow-up Interview 1. What was good Team Jerika Interviewee Jean Luc Rwamasirabo Participants 2. What was bad / Improvements / Demands Interviewer Chanmi Kim - In developing countries, internet connection was bad. So contacting was hard. Date(KSt) 1st, July (In terms of application development, now we are in the stage of optimizing and finaliz- - ing, so app development support would be needed.) 1. What was good - I was happy to hear many opinions. Follow-up Interview - As I meet many different people, I could know how other startups do. Team GNMSN project - Through the mentorship, I could learn how to scale up the business Interviewee Anne Tuyizere Participants Interviewer Chanmi Kim 2. What was bad / Improvements / Demands th Date(KSt) 30 , June Due to the Covie-19, fact to face time was limited. We need more time with investor and - partners. 1. What was good - Had only local connection (same country) - Financial support and investment 2. What was bad / Improvements / Demands - Shipping, logistics - Add more time with mentors - (one platform control whole value chain) - Need more communication with Rwandan companies. - (For developing application, we need IT employee) Follow-up Interview - Follow-up interview at 1st, July Team 1000 hills traveler Interviewee Niyigena Amina Follow-up Interview Participants Interviewer Chanmi Kim Team MYCOFOUNdER Date(KSt) 1st, July Interviewee Baklaga Luka, Gubaz Gogua Participants Interviewer Chanmi Kim 1. What was good Date(KSt) 1st, July Mentorship was good. I could learn how to develop pitch and how to present our project - 110 111 to the investors. Date(KSt) 2nd, July - Connecting with different entrepreneurs. Getting partnership with other countries. 1. What was good - Through the mentoring and consulting, we could develop our software and business. 2. What was bad / Improvements / Demands - We didn’t fine the partnership. I tried to contact with Trabble, but it was hard. 2. What was bad / Improvements / Demands - Digital marketing, web platform globally - (E-commerce solution) Long lasting platform – communicate with whole ETHOS alumni and many entrepre- - neurs. Follow-up Interview Team 3DWAVE Follow-up Interview Interviewee Ferid Kamel, Hela Mkadmi Participants Team Smarter Buses Interviewer Jangik Lee Interviewee Chadi Faraj Date(KSt) 2nd, July Participants Interviewer Chanmi Kim Date(KSt) 1st, July 1. What was good - Great time and chance to meet investors, improve pitching skill. 1. What was good One of mentor(Miyoung Yeo) was very interested in our business and she wanted to - - First time to meet entrepreneurs from all around the world. match our technology and Korean business item. - International webinar (multiple culture) - I learned pitch a lot. 2. What was bad / Improvements / Demands - We don’t know about the Korean startup ecosystem. 2. What was bad / Improvements / Demands - (Mobile application development, VR/AR) - My startup’s sector was unique(mobility sector), mentoring was hard. - Upload the recording video in the platform. Follow-up Interview - There were a lot of links. (e.g. mail, whatsapp, etc) Need centralizing communication tool. Team Blue Filter Interviewee Salah El sadi - Matching mentor in the same working sector would be better than general mentoring. Participants Interviewer Jangik Lee - I want to know other countries’ business culture. nd Date(KSt) 2 , July - Connection with local startups. - (Outsourcing technology, real-time data analyzing) 1. What was good - Follow-up interview at 2nd, July - I can improve my skill, especially pitch deck development. - Commitment by your team was very helpful. Follow-up Interview Team Rednaks Interviewee Chouka Skander 2. What was bad / Improvements / Demands Participants Interviewer Jangik Lee - Funding opportunities, for example launching small grants. Training was good but we need the ‘next step’ and opportunities for realizing what we - 112 113 trained. Recognizing why we should be a tech partner with Korean tech startup. - - Inbound program for selected participants (e.g. In terms of market, in terms of partner, etc) The most difficult in Gaza strip is using instrument, so we need to produce device locally. - - Special program for developing countries in Africa to help startups (But the quality of device is not that good) Except that, now the political situation is stable - (AI) and money stream is also stable. - Follow-up interview at 5th, July - (Digitalize the system) Follow-up Interview Follow-up Interview Team PFMS Interviewee Henry Ngale Foretia Team Kind Cash Participants Interviewer Yerin Cho Interviewee Jaume Marques Colom Participants Date(KSt) th 5 , July Interviewer Jangik Lee Date(KSt) 2nd, July 1. What was good - Mentoring was helpful and pitching in Demo Day was nice 1. What was good - Main session was more engagement and well-planned than pilot session. 2. What was bad / Improvements / Demands - Meeting good local partner among the ETHOSians (digipay) - More collaboration with other startups - (AI, machine learning) 2. What was bad / Improvements / Demands - If you ask simple question right after the session, it would be better Follow-up Interview - Want to know the information about investor in advance Team St Digital - (Blockchain) Interviewee Anthony Same Participants Interviewer Yerin Cho Follow-up Interview Date(KSt) 5th, July Team Data PM Interviewee Aymen Karoui, Saber Bellaaj Participants 1. What was good Interviewer Jangik Lee - Meet local entrepreneurs in Cameroon nd Date(KSt) 2 , July 2. What was bad / Improvements / Demands 1. What was good - Finance sector 1:1 mentoring - Good connect and mentoring - Not too long session would be better - (Cloud hosting, SaaS, IaaS) 2. What was bad / Improvements / Demands - It will be better to match with mentors by sector - Tech partnership will be better to match by sector. 114 115 Appendix D: List of Applicants (Main program) 28 Rwanda AGRI TESt Joseph Komezusenge 22 Male 29 Rwanda Pineapple juice Ndayishimiye Jean Eric 25 Male Applicant 30 Lebanon Smarter Buses Chadi Faraj 40 Male 31 Rwanda MEAL EATERY Nizeyimana Gad 24 Male No Country Company Name Age Gender 32 Algeria Bit Bait Abdelyamine Zeino 27 Male 1 Georgia TechHealth Anna Maisuradze 27 Female 33 Lebanon EquEduTech Manar hadi Abou Chakra 24 Female 2 Georgia UBANI Tamuna Zhgenti 33 Female 34 Cameroon APIA Sophie Ngassa Monkam 44 Female 3 Georgia MYCOFOUNdER Baklaga Luka 19 Male 35 Tunisia 3DWAVE Ferid kamel 38 Male 4 Cote d’Ivoire Prodestic Traore Ousmane 31 Male 36 Rwanda 1000 Hills Traveler Niyigena Amina 24 Female 5 Lebanon E-pharma Hiam Matar 49 Female 37 Rwanda Pig farming Sifa Muhawenimana 21 Female 6 Lebanon Suntrepreneur Georges Khoury 48 Male 38 Rwanda Clothing fashion design Uwase Clementine 22 Female 7 Cameroon E-commerce Jordan Momo 18 Male 39 Tunisia DATA PM Aymen Karoui 38 Male 8 Vietnam GreenJoy Nguyen Vo 33 Female Achref Chouchene 28 Male 40 Tunisia COVID SCAN 9 Cote d’Ivoire BAHROCEL Bah Rodrigue 36 Male Hamdi ben fekih 29 Male 10 Morocco SYSAURUS Abderrafie Tazi 51 Male 41 Rwanda EASYLINK Nshizirungu Moise 23 Male 11 Rwanda GNMSN project Anne Tuyizere 20 Female 42 Lebanon digiTAL Deanielle Dawra 34 Female 12 Cameroon Rido Ebook Tamnjong Larry Tabeh 21 Male 43 Tunisia Hope Horizon Raouf Ben Aissa 31 Male 13 Tunisia Rednaks Skander Chouka 30 Male 44 Rwanda Pineapple juice Iradukunda Nathan 30 Male 14 Vietnam Multi Meter Machine Cong Nguyen Thanh 40 Male 45 Cameroon PFMS Henry Ngale Foretia 35 Male 15 Vietnam Kind Cash Jaume Marques Colom 27 Male 46 Rwanda Shaving hairs salon Rhaddee Murazimana 30 Male Kim ChanAmrithvatey 20 Female 47 Algeria VIRTUWARD Marouan Aoudia 41 Male 16 Cambodia Cyan Technology Vong Oudom NA Male 48 Cameroon St Digital Anthony Same 40 Male 17 Rwanda BEYI Abayisenga Enock 22 Male 49 Rwanda Detecter Running System Iyadukunze Emile 20 Male 18 Rwanda Juice Blender Machine Tuyisenge Dorcas 23 Female 50 Palestine(Gaza) Startup Palestine Rafat Abushaban 32 Male 19 Vietnam Game Studio Nhat Minh Nguyen 22 Female 51 Vietnam Digipay Long Phan Thanh 36 Male 20 Rwanda Cyber cafe Akayezu Elie 25 Male 52 Kenya WazInsure Winnie Badiah Omondi NA Female 21 Palestine(Gaza) BLUE FILTER Salah El Sadi 39 Male 53 Rwanda Jerika Jean Luc Rwamasirabo 34 Male Biniam Alemayehu 54 Cambodia Jojoon Vanthol Pich 21 Male 22 Ethiopia QINASH 24 Male Bekele 55 Cameroon AG Awanchiri Godlove Suh 19 Male 23 Vietnam TECHVICO Chou Chia Yu 25 Female 56 Kenya Fastagger Mutembei Kariuki 36 Male 24 Cambodia TapEffect Nicholas Boerema 35 Male 57 Cameroon Kalicomfort Mbougeko Tagne Loic 26 Male Thanh Duy Tran 31 Male 58 Cambodia Tech for Kids Academy Lydet Pidor 26 Male 25 Vietnam Kyons project Khoi Ton 25 Male 59 Lao PDR Sharee Sitthideth Abhay 31 Male Nguyen Thanh Tu 27 Male Siva Leela Krishna Chand 29 Male 26 Rwanda TechMos Regis Niyonzima 24 Male Gudi 60 India Vyobotics 27 Rwanda A&J Company Uwizeyimana Adeline 23 Female Ashish Rauniyar NA Male 116 117 61 Singapore Trabble Low Jian Liang 32 Male 36 Rwanda 1000 Hills Traveler Niyigena Amina 24 Female 62 Ethiopia Ethiolocate Yishak Amdeselassie 23 Male 39 Tunisia DATA PM Aymen Karoui 38 Male 63 Rwanda WatchIT Group Simbi Arsene NA Male 42 Lebanon digiTAL Deanielle Dawra 34 Female 43 Tunisia Hope Horizon Raouf Ben Aissa 31 Male 45 Cameroon PFMS Henry Ngale Foretia 35 Male 47 Algeria VIRTUWARD Marouan Aoudia 41 Male 1st Screening 48 Cameroon St Digital Anthony Same 40 Male No Country Company Name Age Gender 51 Vietnam Digipay Long Phan Thanh 36 Male 3 Georgia MYCOFOUNdER Baklaga Luka 19 Male 53 Rwanda Jerika Jean Luc Rwamasirabo 34 Male 4 Cote d’Ivoire Prodestic Traore Ousmane 31 Male 58 Cambodia Tech for Kids Academy Lydet Pidor 26 Male 5 Lebanon E-pharma Hiam Matar 49 Female 59 Lao PDR Sharee Sitthideth Abhay 31 Male 6 Lebanon Suntrepreneur Georges Khoury 48 Male 63 Rwanda WatchIT Group Simbi Arsene NA Male 8 Vietnam GreenJoy Nguyen Vo 33 Female 9 Cote d’Ivoire BAHROCEL Bah Rodrigue 36 Male 11 Rwanda GNMSN project Anne Tuyizere 20 Female Finalist 12 Cameroon Rido Ebook Tamnjong Larry Tabeh 21 Male 13 Tunisia Rednaks Skander Chouka 30 Male No Country Company Name Age Gender 14 Vietnam Multi Meter Machine Cong Nguyen Thanh 40 Male 3 Georgia MYCOFOUNdER Baklaga Luka 19 Male 15 Vietnam Kind Cash Jaume Marques Colom 27 Male 4 Cote d’Ivoire Prodestic Traore Ousmane 31 Male Kim ChanAmrithvatey 20 Female 6 Lebanon Suntrepreneur Georges Khoury 48 Male 16 Cambodia Cyan Technology Vong Oudom NA Male 8 Vietnam GreenJoy Nguyen Vo 33 Female 19 Vietnam Game Studio Nhat Minh Nguyen 22 Female 11 Rwanda GNMSN project Anne Tuyizere 20 Female 20 Rwanda Cyber cafe Akayezu Elie 25 Male 13 Tunisia Rednaks Skander Chouka 30 Male 21 Palestine(Gaza) BLUE FILTER Salah El Sadi 39 Male 14 Vietnam Multi Meter Machine Cong Nguyen Thanh 40 Male Biniam Alemayehu 15 Vietnam Kind Cash Jaume Marques Colom 27 Male 22 Ethiopia QINASH 24 Male Bekele Kim ChanAmrithvatey 20 Female 16 Cambodia Cyan Technology 23 Vietnam TECHVICO Chou Chia Yu 25 Female Vong Oudom NA Male 24 Cambodia TapEffect Nicholas Boerema 35 Male 21 Palestine(Gaza) BLUE FILTER Salah El Sadi 39 Male Thanh Duy Tran 31 Male Biniam Alemayehu 22 Ethiopia QINASH 24 Male 25 Vietnam Kyons project Khoi Ton 25 Male Bekele Nguyen Thanh Tu 27 Male 23 Vietnam TECHVICO Chou Chia Yu 25 Female 26 Rwanda TechMos Regis Niyonzima 24 Male 24 Cambodia TapEffect Nicholas Boerema 35 Male 30 Lebanon Smarter Buses Chadi Faraj 40 Male Thanh Duy Tran 31 Male 32 Algeria Bit Bait Abdelyamine Zeino 27 Male 25 Vietnam Kyons project Khoi Ton 25 Male 34 Cameroon APIA Sophie Ngassa Monkam 44 Female Nguyen Thanh Tu 27 Male 35 Tunisia 3DWAVE Ferid kamel 38 Male 30 Lebanon Smarter Buses Chadi Faraj 40 Male 118 119 32 Algeria Bit Bait Abdelyamine Zeino 27 Male Chadi Faraj 40 Male Lebanon Smarter Buses 35 Tunisia 3DWAVE Ferid kamel 38 Male Lara Sayegh NA Female 36 Rwanda 1000 Hills Traveler Niyigena Amina 24 Female Algeria Bit Bait Abdelyamine Zeino 27 Male 39 Tunisia DATA PM Aymen Karoui 38 Male Ferid kamel 38 Male Tunisia 3DWAVE 42 Lebanon digiTAL Deanielle Dawra 34 Female Hela Mkadmi NA Female 45 Cameroon PFMS Henry Ngale Foretia 35 Male Rwanda 1000 Hills Traveler Niyigena Amina 24 Female 48 Cameroon St Digital Anthony Same 40 Male Aymen Karoui 38 Male Tunisia DATA PM 51 Vietnam Digipay Long Phan Thanh 36 Male Saber Bellaaj NA Male 53 Rwanda Jerika Jean Luc Rwamasirabo 34 Male Lebanon digiTAL Deanielle Dawra 34 Female 58 Cambodia Tech for Kids Academy Lydet Pidor 26 Male Cameroon PFMS Henry Ngale Foretia 35 Male 59 Lao PDR Sharee Sitthideth Abhay 31 Male Cameroon St Digital Anthony Same 40 Male 63 Rwanda WatchIT Group Simbi Arsene NA Male Vietnam Digipay Long Phan Thanh 36 Male Rwanda Jerika Jean Luc Rwamasirabo 34 Male Lydet Pidor 26 Male Cambodia Tech for Kids Academy Choeun Chakrya 19 Female Finalist (Team Members) Chhorleang Horm 25 Male Country Company Name Age Gender Sitthideth Abhay 31 Male Lao PDR Sharee Baklaga Luka 19 Male Moukdavanh Bannavong 28 Female Georgia MYCOFOUNdER Gubaz Gogua NA Male Simbi Arsene NA Male Rwanda WatchIT Group Cote d’Ivoire Prodestic Traore Ousmane 31 Male Mukashyaka Alphonsine NA Female Lebanon Suntrepreneur Georges Khoury 48 Male Vietnam GreenJoy Nguyen Vo 33 Female Rwanda GNMSN project Anne Tuyizere 20 Female Tunisia Rednaks Skander Chouka 30 Male Vietnam Multi Meter Machine Cong Nguyen Thanh 40 Male Vietnam Kind Cash Jaume Marques Colom 27 Male Kim ChanAmrithvatey 20 Female Cambodia Cyan Technology Vong Oudom NA Male Palestine(Gaza) BLUE FILTER Salah El Sadi 39 Male Biniam Alemayehu Bekele 24 Male Ethiopia QINASH Chombe Hadji NA Male Vietnam TECHVICO Chou Chia Yu 25 Female Cambodia TapEffect Nicholas Boerema 35 Male Thanh Duy Tran 31 Male Vietnam Kyons project Khoi Ton 25 Male Nguyen Thanh Tu 27 Male 120 121 Appendix E: Application Form Applicant 122 123 124 125 Appendix F: First Round Evaluation From Appendix G: Interview Evaluation Form Applicant Applicant 126 127 128 129