Somali Stem Summit 2022, Science Technology Engineering and Mathematics (STEM)
Omad Reservoir after a heavy rainfall. Baliga few months later without rain. and the image, the black dots you can see is promise global, physical and economic water scarcity. physical occurs when the demand of the population exceed the available water resources of a region. Economic
water resour ces Economic water scarcity occurs when is adequate but is unavailable due to lack of a significant investment in water infrastructure. As you can see is a colour coded. All the blue Africa most of Africa is defined as economic water scarcity. They have got the resources but they don't they are not able to extract lack of invest and our know-how technology. Drought, again, this is something that diversity then it is going to be more resilient to the effect of drought. Once a drought is over, the land needs time to recover. Just as a person needs
time to recover after a hardship. take home points devouring at precipitation is not the most important factor in the If the answer is yes, then keep watching Manmau, the Somali for innovative business ideas. This entrepreneurship TV program incubates innovative business ideas into investments, startups to spur the economy. There are three phases to the program. Phase one, entrepreneurs will pitch the business ideas and present how the ideas meet market leads to a panel of business and project development experts. Where they must receive three yeses from the panel to advance to the next phase. If they receive two
yeses or less, their business idea needs further improvement in their terminated from the program. Phase two, the advancing entrepreneurs from phase one will be invited to participate in a three to four weeks entrepreneurship boot camp program where the participant will receive training in the Hano Leap Accelerator Program. participant will undergo rigorous business development training to refine the ideas further and develop a business plan. The knowledge and skills
gained during the training at the Entrepreneurship Bootcamp can not only be put into practice and the entrepreneurs will enhance the business ideas into a robust business idea. With a business plan, with all the evidence and support and information needed by potential investors participating in the program. Moreover, the new entrepreneurs will have a chance to complete on a televised live broadcasted program for a chance to win the coveted seed money needed to launch the Each week one or more of the entrepreneurs will be eliminated allowing the viewer to learn more and more about each remaining team member. Phase three, the grand finale where the winner is selected to receive investment needed to get the business off the ground. While the remaining participant will be thanked for their participation of the program and escorted out of the stage. The three criteria for selection include innovative idea, sustainable and profitable potential, salesmanship, adaptability, employment generation, corporate social responsibility, design thinking, or otherwise known as the next big thing. If you're
up for this challenge, yet have an innovative way of business incubation when learning innovative business models. Then step up and join the program as the producers of Myanmar, the Somali Libra family, and looking for you and others with innovative business idea. In the Somali community. So if you're seeking business investment, mentorship, coaching or training, we will help you launch business to the next level. So all you have to do is just sign up on our website, fill in the application, and come forth auditions.
I think Pike. Yes, good. My braised venture capital in startups and then I've also worked for companies like Amazon AWS. Um Proctor and Gamble, Large Fortune 50 companies developing products, services, brands, strategies. So, I guess I guess who I am is that I've over my career, I've worked for small startups and large corporate corporations and so I've seen patterns of of successful business behavior across that spectrum. Thank you. Khalija, welcome to the
mic. Assalamu alaikum. Um English my name is Doctor Khadijah.
I've been emceeing a hosting this event. And my role I'm a medical doctor and my role in this event was basically emceeing. My role in Manmal, I met Doctor Saadio three years ago with such passion, with such drive to basically give back to the community. And basically have quote and quote like the Somali apprentice Jumpstart in ah hammer and I really admired her drive and her passion to basically propel Somali to international levels and I took up the role as the host or as the conveyor of message ehm to the public and basically create this pilot episode to help her get investors and hopefully in the future or even you know soon maybe even after this event we do get investor to basically help us jump start the program. Thank you so much. Thank you.
Hello, Gio. So, and also we know that almost 80% of the startups fail in the first six months and then even more Uh in the first year or two. So, what sort of advice do you have for the young entrepreneurs who have the opportunity today to attend this system? My second, that's for Mike but I also have one for Sadiya and also to the Khadijah to contribute. Now, what we saw was basically of Somali because life Yeah. Somali okay. for a large company like Hormood or Alibaba or Amazon.
Um when we first start out with our ideas, we we have an idea for a product or service and we We think we know how to implement. We we think we know how to make this product and we put that into a business plan and we go to try to raise money either from an investor or from somebody in finance at a company. The mistake that we've made is that we've we think that the order of things is we have our idea probably based on some experience. So, we'll call
that our research and we have how we're going to go about building it. We'll call that our strategy and all we want is money so that we can do the design. We can build it. a successful startup, what a venture capital firm will want, what somebody in charge of finance is going to want us to do is to switch the order a bit. We're going to start with
our idea but instead of coming up with a strategy, we're going to start with a design and we are going to take it and test it immediately. Whether it's a startup or a large company, everything is run on data. creative ideas will help you survive. They'll help you get started. But I promise you, you will not be taken seriously if we do not learn how to measure our beliefs. So, we start with
an idea. we turn that design, and maybe it's a marketing idea or maybe it's a simple prototype but we test it. We see if our assumptions about what our customers want are real and as we can demonstrate progress in those metrics, we're taking our first steps to building an actual business because I can assure you that a company like Alibaba or Amazon, they measure everything and everything, nobody's assumptions, no matter, even if you're the, the president or CEO of the company, nobody's assumptions go and test for very long. The data will reveal. So, as a startup, you have an idea you test it with the design. If it doesn't work,
you do it again. Strategy is what happens at the end. It comes into focus at the end. If we start with this idea that we know how to go about this business, we're almost always going to be wrong and a wise investor or a wise finance person knows that because they've invested a lot. They're always going to want to see how you're measuring your success and that's really what lean startup. That's what the training is about. It's about
prototyping. You build, test, you learn, you build, test, learn, and this is a daily practice in large companies. It's they call it continuous improvement. They they call it customer analytics. They'll
even just call it data science. But that's what they're measuring. Are we in reality or are we living out of our heads? So that this is what I would say is the number one advice I would give to on entrepreneurs.
Your creativity is valuable but learn to design tests that can put metrics in front of investors. Thank you, thank you Mike. And because okay, and Su of economics. Irrespective of
the field they have. They should have some type of soft skills that would make sure that they can basically be successful in the program. And as ah Doc has mentioned ahm obviously there is basically during the training as their lives will be broadcasted or basically documented I'm sure most of you have watched the apprentice, the US, the UK one. Um they would be basically experts who basically guide them, maybe teach them soft skills, maybe teach them because in the business world, people do go through a lot. IE mental health issues or basically impostor syndrome. So this specialist are there basically to guide them. And
then when basically the winner is selected there is a protocol I would be followed in terms of reports or basically data analyst or basically graphs that basically project or basically talk about what type of business they are running. So it would be monitored continuously. They wouldn't be let out in the world. So yeah that's it. So we want to do a up in three seconds. When we write one,
two, three, we use pens, isn't it? Listen, warm up, warm up, just one more, 2 seconds. driven businesses. So, the training that I would like to see is along the lines of what I just talked about which was that you try to create some sort of customer experience using research and data we've mentioned Alibaba a couple of times. So, for instance, that Ecommerce experience, that platform that they are going to be good at, It somebody didn't just create that. It was built
through experimentation and so the skill sets that we would like to do is to give those exact same skill sets. This could include things like under like persona building of our customers. Getting very descriptive of who our customer is what their behaviors are, what their beliefs are, and journey mapping, what what we call journey mapping, where if they're going to be using a service, how do they find out about us, how do they turn on the app, how do they log in, how do they put, how what kind of personalization is going on in the app? And what would, where are they wanting to buy products? Is it on the phone? Is it is it voice first? Uh we I saw Akman using Alexis. These are technologies that are coming and they're they're inevitable. They're they're coming. And the other thing I'd
like to do is with this idea of customer journey or experience design is to introduce the idea of a a low code or no code technology skill set. Where where we live in a fortunate time where most software today can be built with existing APIs We don't have to all learn how to code anymore and and in fact, the majority of enterprise applications are not built by coders anymore. So, I think 60% of software is built in this fashion and this is because of the cloud architectures have enabled us who have ideas to take expected technologies like voice first or simple credit card transactions or any machine learning ideas and implement them ourselves because they already exist as services, micro service in themselves. These skills would be very accessible in Somalia. It is definitely technical training but the learning curve compared to traditional software development is fractional and these tech and and even at a cost. So, these would be very
important technologies to allow Somali young entrepreneurs to produce digital services and products that are even beyond Somali's borders. They they're global. Mike, thank you for thank you a lot because time So, Summit that you all have gathered in Mogadishu to attend and see how you can progress STEM education for the world, for Somalia, and for women and girls. We totally believe that education makes such an impact on every point of society that it is the most important thing that people should get into. Yes, it sounds and yes, it requires discipline but at the end of the day, it's going to be worth it because it will help you make better decisions.
And better decisions will lead to a better life for you, for your family, for your community, but also for humankind because putting all of this together makes one and that's us. Every problem on this planet is a global one. Never forget that. And let's work on a better future where every decision will have a much better act on what's happening to humans all over the place Have a great three days and we wish we could be there next time for sure we will attend and support personally. For
now, please accept our best regards and we will help you promote the results of this summit globally. All the best. Enjoy. Speak soon. Thank you very much. Good morning everybody and welcome to the Somali Stem Summit twenty twenty-two. I'm sorry that I am not there to be with you but you've just met my brilliant business partner Thomas Reemer. I'm Deborah Sass. I'm the
co-CEO and founding partner of Space Hero. Space Hero, which everybody can apply for when we announce the applications. Space Hero is a global casting show giving away the biggest prize ever given out on television. A very expensive ticket to space. Every year for the next 30 years. So, you guys
can all be part of the Space Hero ecosystem. You can already follow us on social media. We are Space Hero. But I wanted to say a special few words about what you're going to in the next few days. You're going to see some exciting, interesting parts about the STEM industry not only in Somalia but I think on a global level. So,
congratulations for even being there. I hope you have a wonderful, wonderful event and I look forward myself and Thomas look forward to being there in person next year. Bye, guys. We are Space Hero. Welcome everybody to the twenty 22 or so I've done a banana skin mister Yusuf Mahmoud Kuso Dawo. ah
2022-08-15 17:50
