Welcome back to another update on how the teams are doing on Venture Up 2016! So many more changes this week with more teams getting stuck into the thick of what it takes to be an entrepreneur in this day and age! Check it out below with each team on their current status!
Team name: Crave (Formerly Darkhorse)
Team members: Jacksen L, Alana K, Jacob VW, Jakobb M, Nick H.
Where is your idea at? Our MVP is live on our website at craveapp.nz. After having heaps of meetings with businesses about their lunch eating habits, we validated our market/product fit and decided to tackle the problem we are solving in geographical stages – starting with a 500m radius of the companies we have validated with and expanding from there. This includes the big guys like the CEO of Hell’s Pizza. We have also started looking into including a more social element to the service – i.e. giving users info on how many of their friends said yes to this particular dish/ liked this/ are planning on going here. So finalizing those features while we build up from the basic outline of our MVP.
How many pivots do you think you’ve made since day 1? 1 more since last week, which was to do with increasing the social element of the offering – looking at it from the perspective that lunchtime is about hanging out with friends – so giving users the ability to have their own profile, to see who of their friends have rated the food options etc.
Most challenging thing about week 2? The midway pitch event was challenging in terms of being able to express yourself in a really efficient and effective way – getting all key points out in the 3 minutes! But it was really helpful to prepare us for the real deal in a few weeks.
Where are you making progress/ what are you proud of? We are really proud of our validation – getting the feedback from people, knowing that they had the problem that we thought they had, and cementing our process so we know we are going in the right direction.
Team name: Part-Timer
Team members: Dylan R, Michael S, John R, Loren T, Dani W, Rebecca G.
Where is your idea at?
Our MVP is live at www.parttimer.co.nz, we are trying to get 5 businesses on by the end of this week, as well as a student database of 200 by end of the showcase, and we are sorting out our pricing plan. So we are currently fixing up little bugs that we find now the website is live, and continuing to talk to more business to firm up the details of our offering.
How many pivots so far? None, it’s been straight straights since last week!
Most challenging thing about last week? Thursday was a really unproductive day for us – it was a combination of a mental block and lack of direction. The pitch really got to us and we have begun to notice just how tired we are. We hadn’t gone through our goals in a really long time so this week we have made sure to revisit them and set new ones.
Where are you making progress/ what are you proud of? That businesses are still saying yes and liking our idea, that the website is up and functioning. It’s really hard to isolate one thing because we are steadily moving across 100 little things at once rather than accomplishing one thing at a time – there is a lot of juggling going on, especially given that we have to validate both sides of the market so twice the validation!
Team name: Influencer
Team members: Omer H, Felix P, Hunter W, Rachel Y, Jordan P.
Where is your idea at? Our MVP is up and running: www.influencerland.com. Our talks with Chow are going well, and we have got a 6 month deal with Mojo Coffee across the line! We are juggling both sides of our platform in terms of meeting with businesses and researching instagrammers with large followings to match them with so that is quite time intensive at the moment.
How many pivots so far? 1 small-medium sized 1 after taking on advice and ongoing feedback from one instagrammer in particular who gave us lots of good insight into that world.
Most challenging thing about last week? We all have different roles so it’s different for everyone. Setting pricing for our Mojo deal was challenging as there are heaps of options, so navigating that space around what the contract should look like and what the pricing should look like.
pitch went well, rich nailed it
Where are you making progress/ what are you proud of? The pitch went really well – Rachel nailed it! Securing a deal with Mojo was major affirmation that people are really interested in what we are doing.
Team name: Intrude-a-lock
Team members? Elisha F, Hayden W, Keith T.
Where is your idea at? Our progress is hinged on our MVP at this stage and this will be up this week in the form of a basic application – the final product will be a device. We’ve done plenty of market research to continue to validate and make sure we have the right market/product fit.
How many pivots so far? No pivots at this stage, just firming up our offering.
Most challenging thing about last week? Going and asking people at the airport for their feedback. The emotional toll of getting knocked back when trying to approach people is pretty gruelling.
Where are you making progress/ what are you proud of? All of our research and the development of our MVP.
Team name: Relay (Formerly Deliver Me)
Team members? Sophie S, Sam Y, Cameron F, Aiden S, Derek L.
Where is your idea at? We are currently building our MVP, which you can find at www.relayapp.nz/. So our website is up, we have been doing lots of branding work and creating our tagline to help express our offering quickly and clearly.
How many pivots so far?
No pivots, just developing from last week. We got awesome validation after the pitch event last Thursday with the Young Enterprise attendees registering their interest – it was really well received.
Most challenging thing about last week? Developing our branding and tag lines, in terms of being really concise about what we do and who you are.
Where are you making progress/ what are you proud of? Bringing everything together – our name, MVP, and the branding is coming together too.
Team name: MultiMenu (formerly Recorded Intent)
Team members? Kim E, Charlotte K, Toby H, Tiger C.
Where is your idea at? We’ve started working on our MVP, and done our market validation so know there is a problem that we can solve. Our MVP will be a programme that will translate a complicated menu description and output a simplified version at the level of 12 year old reading ability.
How many pivots so far? Only 1 – expanding on our idea rather than pivoting, which is a big change from last week!
Most challenging thing about last week? Sleep deprivation, figuring out next steps in terms of how we are actually going to get our MVP to work!
Where are you making progress/ what are you proud of? Lots of positive feedback from the pitch practice. We had people coming up to us saying I like your idea, my mum would use it!!
Team name: Story Unfolded (Formerly Feelen)
Team members? Francisco S, Emily C, Emma F, Liberty T, Eleanor J, Nicholas B.
Where is your idea at? We have had lots of meetings, and affirmations of what we’ve done so far. Today will be a big day for us, we have an hour with Dave Clearwater on the various ways we can solve the problem we are looking at and want to come out the other side with a clear direction. We have been spending time finding the other side of the market of our platform – the people who would actually donate the money to these charities, and the next step is to talk to more of them to find out if they would use what we are offering.
How many pivots so far? We might today after our meeting with Dave, but we have been pretty steady for the last week or so.
Most challenging thing about last week? We struggled with our customer segment in terms of who we should be focusing on since its a two sided platform and there are only so many hours in a day.
Where are you making progress/ what are you proud of? We clarified where we were with our idea with the pitch practice, and got to see where the other teams were. We are proud of having lined up lots of meetings, and getting out there and talking to people!
Team name: Youth on Board
Team members? Joy W, Jimmy P, Cameron O, Logan J.
Where is your idea at? It’s been more of the same, focusing on which way we are going to go about solving our validated problem as we have narrowed it done to 2 main options around focusing on boards or management as the target market, and undercover boss vs. youth advisory panel as the right way forward depending on the market we choose. We have set ourselves a deadline on Wednesday to have a plan of attack and also have a meeting with the Wellington City Council COO which we are pretty excited about.
How many pivots so far? Still exploring options rather than pivoting from a set direction.
Most challenging thing about last week? We’ve had lots of mentor/ mental whiplash with plenty conflicting advice. We have been mapping out our options and going through all the pros and cons to make some final decisions and get a grip on what will be the best move forward for us.
Where are you making progress/ what are you proud of? All the weeks are starting to blur together – the networking last week was really good. Our service is something that can’t really happen until the we have an early adopter that is willing to give us a go – so we have some big decisions to make and important meetings to have to make that happen.