The Station and KAPITA Business Hub Partner to Launch CoGrowth Project
Baghdad, Iraq - The Station Foundation for Entrepreneurship and KAPITA Business Hub, the two leading actors in the entrepreneurship ecosystem in Iraq, are thrilled to announce their partnership to launch the CoGrowth project, a 4-month program designed to help early-stage start-ups in Baghdad succeed with mentorship, coaching, and resources. The project is funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
The CoGrowth is designed to help early-stage start-ups in Baghdad succeed with mentorship, coaching, and resources. The Station, a co-working space and incubator, will focus on prototyping, business development, and revenue generation for start-ups in the program until they reach the stage where they require investment. KAPITA Business Hub, an accelerator and incubator, will then provide its expertise in helping entrepreneurs with established start-ups grow their businesses beyond the formation and validation phases.
"The CoGrowth project is a powerful collaboration between The Station and KAPITA Business Hub," said Mustafa Dawood, Executive Director of The Station. "With a shared vision of fostering growth and innovation, our partnership aims to not only empower early-stage startups in Baghdad but also to unify the startup pipeline in the Iraqi entrepreneurial ecosystem. By providing comprehensive support, mentorship, and resources, we are paving the way for a unified and thriving ecosystem where startups can flourish and drive sustainable economic development in Iraq."
The program is open to start-ups in Baghdad between the ages of 18-35, with a minimum viable product and a focus on sustainable development goals. The selection process will be rigorous, with an application process that includes an in-depth interview with The Station's staff and business advisors. The 10 selected start-ups will then be invited to join The Station's co-working space at a discounted rate.
During the 4 months of incubation, there will be 4 monthly business gatherings for the start-ups to network and share advice and resources with each other. The program will also provide continuous interpersonal coaching and intensive weekly follow-up with the start-ups from The Station's staff to ensure success.
"We are grateful for the financial support provided by GIZ on behalf of BMZ, which was facilitated through KAPITA Business Hub to effectively kick-start the CoGrowth project. As the program progresses, the collaboration with The Station will ensure that the funds are strategically utilized to maximize the benefits for the participating start-ups," said Mujahed Waisi, Founder and CEO of KAPITA Business Hub. "This partnership underscores our commitment to fostering a vibrant and sustainable entrepreneurial ecosystem in Baghdad."