Status update 4 – Day 44/139

Our project experienced its biggest misfortune to this date today. Our business plan failed to make the top 10 with in Venture Cup. Feel free to check out the finalists, there is definitely some great stuff in there!

It is noteworthy that there is only one web service that made the finals. It is extremely difficult to determine the value of a web service. It all comes down to the actual users that the service gets. In favor of this finalist called AudioDraft, it must be said that their service is targeted for experts.  That makes it perhaps a bit easier to put a price tag on their product.

Where do we go from here?

Now that we no longer need to concentrate on the Venture Cup we can focus our time and energy in developing our idea further. We have a proof of concept and now we need to take the steps to make it publicly available for a group of testers.

I want to personally invite everyone interested in helping to fill out this form to join an alpha tester mailing list.

What else is going on?

We’re getting closer to actually founding a company that will start making great things. We’re starting discussions with TEKES to show how our solution could help the Finnish economy.

We’re also eagerly going to the Aalto ES Boot Camp. This is a great opportunity for any entrepreneurial team to fast-track their ideas into a successful business.


4 responses to “Status update 4 – Day 44/139

  1. Aww…

    Well VentureCup historically have given very few finalist places to service companies in general…

    I wonder why…

  2. Setbacks aren’t really that bad. And it’s actually good to have some – that way you’re able to learn what went wrong.

    At this point, it would be good to re-evaluate your strategy. Your product may even be perfect, but your strategy may be something that is hard to sell to investors.

    It’s common that a startup is excited about the product, but because of this, the startup haven’t thought about the business plan.

  3. This is just good news. My personal opinion is that Venture Cup only slows things down – unless you really believe the success of your project depends on their support.

    You can get more right stuff done quicker without having to bother about it. Just Nike it. 🙂

    • Thanks Jussi for this comment. This is the exact attitude our team has had when discussing about this setback.

      Now we can concentrate our effort on reaching actual people, not just random audience in a business planning contest.

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