How does the WinX 5 startup community from Uzbekistan work

27 July, 2022

 

Four startups from the Uzbek WinX 5 community – Agni, Haru, Evaset and MeFarm – participated in Startup KPIs Day, which was hosted by Startup Central Eurasia on 7 July. Another startup, Digital Agronom, had its metrics analysed using the Startup KPIs success calculator. We spoke with the founder of this startup association, Azizbek Madaminov, and found out why startups at the initial stages prefer to team up and, in case one of them wins, to pool the money they win. 

For Venture Day, startup Agni has proposed a device for detecting gas emissions. First, the team wants to cooperate with government agencies and then sell the device to residential homes and gas-powered car owners. Haru, a startup, then gave a presentation. The founders looked into the future and offered an educational platform for IT professionals based on Web 3.0. The founders of the retail project Evaset and the agrotech start-up Me Farm, which sought to solve the still-important problem of farmers taking care of livestock, also presented their project idea to investors.

The founder of WinX 5, which includes these startups, is Azizbek Madaminov, a PR specialist who teaches at IT Park Uzbekistan. He set up a community to help fledgling start-ups with everything from PR to investor search, so they would have a better chance of growing into fully fledged companies. WinX 5 is at the same time a club of people interested in the IT field, who can give each other advice in meetings, and it is also a community where young people can get professional skills and find jobs in partner projects.

— How did you come up with the idea for WinX 5?  

At first, my friends and I had project ideas with which we won the 100 Ideas for Uzbekistan project. Later, we took part in the Unicorns SCO startup competition, which was co-organized by SCO (Shanghai Cooperation Organization, approx.), and we were among 40 finalists.  As we went through the stages of the competition and talked to other participants, it became clear that many startups had a misunderstanding of how to pitch and how to move forward. So we formed a community to informally share experience with each other and develop ideas together.  Now we have about 20 people in the team who understand different spheres.

— Can a startup, once financed, disconnect from WinX 5?

We conclude a contract with each member of the team. As the same people, for example marketing specialists, may be involved in several startups at once, the shares in the project are divided up depending on the job they are doing. Therefore everything is fair. 

— What results have your startups had so far?

Our project Haru participated in a Cambridge hackathon in Uzbekistan and won 50 million sum. This money became seed money in our internal fund.  Agni - also participated in this hackathon, but did not win. That is why we continue to adhere to the theory that some project will shoot up. If just 1 of 10 of our startups gets funding, the money can be used by other members of our community. 

— How useful was Startup KPIs Day for your team members? 

First of all, it was useful for the startups to go through the selection system of your Startup KPIs success calculator. We had fairly good ratios at the end, and we saw for ourselves a kind of cross-section. After your event, the Evaset founders pitched in front of the Aloqa tech lab. They left a slide with the calculator's metrics in their presentation, and this slide was a kind of confidence trigger for the jury. Now the guys are continuing the procedure to get funding in this accelerator.

Telegram   /   Instagram   /   VС.ru