Background
Our client, a leading bank in the Middle East, was looking to strengthen its engagement with the startup ecosystem and reduce investment risks by identifying and supporting promising early-stage ventures. With internal resources stretched and operational risks in mind, the bank required a structured, scalable approach to evaluate, onboard, and support startups across the country.
Challenges
The Sakoo project emerged from the bank’s need to efficiently manage and accelerate startup growth while ensuring credibility and risk management. Key challenges included:
Geographic Reach: Identify and support startups across the region, including regional towns and cities outside major hubs.
Sector Flexibility: While initially focused on FinTech startups, the system needed to accommodate a broader digital sector.
The Financial Credibility Gap: Founders are not equipped to deliver the high-standard, investor-ready plan that European banks see as a prerequisite. They are missing the key details, like solid market research and financial forecasts for funding.
Scalability & Automation: Handle a high volume of startups without compromising on the quality of guidance, evaluation, and follow-up support.
Solutions
Bugloos developed the Sakoo Platform, a comprehensive system designed to guide startups through ideation, business planning, market validation, and execution, ensuring every step provides high professional standards. The platform is structured around four progressive stages:
Guided Step-by-Step Planning: The platform asks simple questions to guide you through four steps from idea to launch to create a strong business plan for investors.
Engaging & Interactive UX: Designed for young entrepreneurs, the experience uses gamified elements like sliders and smileys to make the process intuitive and motivating.
Integrated Expert Coaching: Startups are never alone. They can connect with mentors and advisors for real-time guidance directly through integrated chat and video calls.
Dynamic Validation & Tracking: The system helps startups test their ideas against the real market and uses a live dashboard to track KPIs, ensuring the plan stays relevant and on track.
Outcome
With full implementation, the Sakoo platform successfully transformed the bank’s approach to identifying, evaluating, and supporting startups across the region.
Initial Successes: The project found new startups, helped them build strong business plans, and opened doors for them to get funding. As a result, more businesses started using the bank's own technology.