Startup Weekend Bhubaneswar Teams

Startup Weekend Bhubaneswar saw some great startup ideas coming up. These are the brief desription and link to of them.

Maxokraft is a marketing startup which aims in bridging the gap between customer and offline traders. It provides a platform for the offline traders (Brick & Mortar Shops) to adopt this mode of marketing at a cheap price and help customers discover their product in their own convenience before purchasing it. This saving from trader side due to efficient marketing can be passed on to customers in form of more offers and discounts

Golden Dogs

A website to connect Dog lovers with potential sellers of all breeds (KCI registered) and we provide them a platform to use services like Healthcare, Insurance, Dog walkers, trainers, Food, Breeding.

For better connection with customers, it also organizes events like Share your Dog Story and Pic of the week.

This is a fashion website which’ll help customers design clothes in their own unique way and wear them. This enables to make people designer clothes by themselves. And also provides great styles at cheaper rates.

They are trying to build a community of people around the globe to give valuable unbiased reviews to various product and services.

1) They are providing diversified reviews on a unified platform
2) It’s a not a service or a Product. It’s a Community.
3) Providing Unbiased rating and reviews through certified techniques

Blood Buddies
It is an online platform which’ll swiftly connect Blood Donors and those who are in need of it. It’s a life saving idea.
It provides Pick, drop & store solutions to make you feel contented with your luggage. Helps to keep your luggage and makes you feel free to do any work.

The Thellewalas
It connects all the street food vendors to a single and provides home delivery of their items to various places across the city.

It facilitates the businesses to get their apps installed by customers. It’s provides sync between PC and Mobile providing ease to customers and profits to businesses.

The Repairers
To allow the service persons and the customers going along through a medium. It connects the service persons to the people who are in need of their services.

The Stellar Grid
It helps to provide B to C solutions for Solar System installations. Helps people install solar power systems in the environment thus conserving it.

A one stop solution for all your travel problems. It provides you extensive details and reviews of areas, wherever you travel.

Exact Reviews
A service to provide expert reviews to help customers make informed choices. It’ll have an expert team which will give proper reviews that actually helps customers.

Judging Criteria for SW Bhubaneswar

The Startup Weekend judging criteria is broken up into three sections. Teams are judged according to the following 3 criteria (weighted equally):

  • Business Model
    How does the team plan on making this a successful business? Have they thought about (either solved or identified problems) competition, how to scale, acquiring customers, their revenue model etc?
  • Customer Validation
    Are teams building something that people actually want? How well does the team understand their customer and their customer’s needs. Did the team get out and talk to customers? What is the value proposition to customers?
  • Execution & Design
    Have they established a “Minimal Viable Product” for the weekend (software, hardware, etc.)? *Note: an MVP is the minimum set of features to be able to start collecting data. Does it deliver a compelling and captivating user experience? Were they able to demo something functional?

    Good luck to all the teams! 🙂

Creating a Prototype

Creating a prototype is important for any business model. Be it a website or an app, prototype helps us see how the actual thing would look like and work. Coding might not be an option for all entrepreneurs. So there are certain prototyping tools which’ll help you create a simulation of what actually things may look like.

Here is a site that will help you analyse the various protoyping tools available across the web.

Here are links to certain tools which might be of help.
Adobe Flash Catalyst
Axure RP
Balsamiq Studios
Concept inbox
Pidoco – The Rapid Prototyping Tool
Microsoft Visio

Business Model Canvas

The Business Model Canvas is a Lean Startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s or product’s details of cost, it’s customers, revenues and value proposition. It brings in all the aspects of a startup in a single piece of sheet or canvas and helps to evaluate it in a much easier and effective way.

The canvas can have 9 important sections.
The Business Canvas Model is as shown –

The sections can be described as –

Customer Segments
These are the customers you target in your business, people who you create value for. It’s quite important to keep in mind the age group, location, financial ability etc. while you fill thsi section in.

Value Proposition
These are the bundle of Products or services that create value for your customers

They are the touch points or links through which you deliver value to your customers. A better channel will ensure better services and hence, customer satisfaction.

Customer Relationships
This outlines the relationship you’re building while delivering value to your customers. This is quite important and decides whether the customers continue to be with you or not.

Revenue Streams
These show how and by what pricing mechanisms, your business is capturing revenue. This will decide the profits you make.

Key Resources
This refers to the indispensible resources or the assets you’ll require to build the startup. They refer to the infrastructure you need to build your product.

Key Activities
They are the main activities you need to perform in order to perfectly deliver value. These stay as primary activities in your startup.

Business Partners
These are the partners who’ll help you leverage your business

Cost Structure
After knowing these details you can write the cost structure of your company, cost of inputs and infrastructure and revenue collected.

This helps you get your business plan in a single sheet. This not only helps people who startup but other business executives as well.

The video below describes what Business Model Canvas is –

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The Lean Startup Methodology

According to convention, the first thing every founder must do is create a business plan, a static document that describes the size of an opportunity, the problem to be solved, and the solution that the new venture will provide. It includes a five year forecast for income, profits and cash flow. It’s just a research based document written by an entrepreneur before actually building a product, unaware of the actual problems that are going to sneak in while executing the idea.
After raising a funding, entrepreneurs build a product without even taking substantial customer feedback and when ready to sell those, they realize that most features of the product weren’t necessary at all.

The Lean Startup Method

Proposed by Eric Ries in 2011, Lean startup method adopts a combination of business-hypothesis-driven experimentation, iterative product releases and customer validation.
Lean startup method removes the obsolete ‘Stealth Mode’ operations of business and lays importance on ‘Consumer Feedback’.

It can put down in three simple steps.

1) Rather than planning and research, entrepreneurs find a series of untested hypothesis or good guesses. Rather than writing B-Plans, they summarize stuff in a Business Model Canvas

2) Then they take up a ‘get out of the building’ approach to test their hypothesis. They ask potential users, purchasers, partners and try to analyse problems and solutions that come up. This process is iterative and feedbacks are taken care of in all subsequent product stages.

3) They make a MVP(Minimum Viable Product) by assembling their analysis reports and collected feedbacks. This product is developed by a practice called ‘agile development'(Quick, Responsive Development) which works hand in hand with customer development and reduces the yearlong product development cycles.

It means startups invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures.
Today, the lean startup’s popularity has grown outside of its Silicon Valley birthplace and has spread throughout the world.

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