The following is a guest post by Kahlil Corazo, and was originally published on his personal blog.
When I first found out about the Cebu Startup Weekend, I was surprised that the fee was only PhP 1,000. Five years ago I had to pay 15 grand just to be in the same room as Dado Banatao and Winston Damarillo. Now it’s practically free. I immediately bought a ticket, but I was certain that there was something fishy going on.
It turns out that it’s a global conspiracy masterminded by Kauffman foundation to spread the methodologies (eg, 1 2 3), the network and thewisdom essential to a healthy startup community. They use a clever multisided social business model. It has four customer segments, each one being duped into contributing to an entrepreneurial renaissance all around the world.
Here are those four segments:
- Passionate entrepreneurship activists – these guys work for free on top of their day jobs just because it’s pretty obvious that the Startup Weekend the quickest way to ignite the local startup community.
- World-class mentors and judges – It’s unbelievable. Top venture capitalists and entrepreneurs fly half-way around the world (or drive a few blocks). They are led to believe that sharing their expertise to the next generation is the best way to give back to humanity and create more wealth while doing it.
- Sponsors – They give away money, food, products and services hoping that they could actually help grow the local economy. And the only basis for this belief is the repeatedly confirmed fact that innovation is the main driver for prosperity.
- Hackers, hustlers and designers – simply to gain ton of startup experience, they give up 54 hours of their lives (crazy!). The mentors spend hundreds of dollars worth of consulting time with them. Food and coffee are overflowing. They get to meet awesome people and make new friends. They have an insane amount of fun and they even have the chance to win cool prizes. It’s inconceivable why these people trade a weekend of American Idol replays with the excitement and hard work of creating a startup in 54 hours.
It looks like this when mapped out in the business model canvas (click to enlarge).