Like this innovation? Show your support by tweeting it, ‘liking’ it on Facebook, or leaving a comment below.
1. THE BEGINNING
This innovation came to life when…
I was talking to a founder with a great idea for an online startup. But he needed help. Help to build it. Help to turn that nub of a concept into something that could be articulated. He didn’t know who to turn to, what he should be looking for or how to take the next steps.
Having been an entrepreneur myself and worked with numerous startups running an incubator, I thought there ought to be a service bootstrapping founders could call upon right at the beginning of their journey. Something effective and efficient to get them off on the right foot.
2. WHAT & HOW
The purpose of this innovation is to…
Help bootstrapping founders get their ideas up and running as quickly as possible, without the shortcuts.
It does this by…
Streamlining business modelling, market research and online product development into a four-week process. At the end of the process entrepreneurs have a lean prototype of their idea, as a fully functional site, that they can use to validate their concept. We also build Google Analytics into the product to ensure founders test, measure and learn along the way.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
We have streamlined many components of the lean startup approach into a systematic process that is fast, embeds critical elements of the startup business development process, as well as being as objective as possible.
The benefits to the customer/end-user include…
- Reducing time to market for ideas
- Helping founders test their ideas out objectively
- Reduction of the opportunity costs, otherwise spent on products/services that are not ultimately viable
- Consistently producing better startups for entry into incubators and accelerators in the future
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Taking a fairly ad-hoc approach to market research and online product development. We have systematically streamlined and integrated the whole process to help founders get up and running as quickly as possible without taking any shortcuts.
Its predecessors/competitors include…
Incubators and accelerators. With so much competition for entry though, many entrepreneurs often need to develop their ideas more fully before having a realistic chance. We are here to help them get to that stage.
5. TARGET MARKET
This innovation is made for…
Founders new to startups. We help both DIY entrepreneurs and those wanting to test/validate their ideas out for potential entry into incubators/accelerators.
6. DISTRIBUTION STRATEGY
It is available for sale through…
We largely partner with co-working spaces, by providing a value-added service for residents/members.
Our marketing strategy is to…
Deliver seminars for founders around the process of starting up a business. We primarily do this in partnership with co-working spaces.
Your Turn — VOTE!
If this SMART 100 innovation wowed you, why not get the word out?
- Tweet it: Top left of each page
- Trigger a Reaction: Facebook ‘Like’, etc.
- Leave a Comment: Anonymous comments excluded.
We’ll use your vote to create the 2013 SMART 100 Readers’ Choice Index. Learn more here!
This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.