Tag Archives: competition

An idea worth 50.000 € for free – Day 55/139

During Easter I stumbled upon a classified ad on the largest Finnish newspaper Helsingin Sanomat. The ad promotes a website:

www.ideatykki.fi (roughly translates to http://www.ideacannon.com)

Their business idea is to sell “business ideas”. This basically means founding a company and selling it to a new owner who avoids the “paperwork”. Filling in the paperwork yourself costs 350 € for a limited company in Finland. These guys should obviously add their margin and especially if they are not only selling the paperwork but a “business idea”.

And they do!

Their ideas cost between 7.500 € and 50.000 € and this price includes the newly established company and a few Internet domain names. What is even more interesting is that they don’t even have a single actual business idea, all they have is a set of B-grade names with a price tag.

Selling a real business idea is quite difficult since an idea is not worth anything before it has been turned into business. The cutting edge name that the guys at Ideatykki are selling for 50.000 € is NaturPower Finland that could be doing “applications with renewable energy sources”.

Here’s a better suggestion for the first taker

If you want to start a business in renewable energy, how about ViherPower Finland Oy (roughly translates to GreenPower)? With this name you could even get both the dot-com and dot-fi domain names unlike just the dot-fi for NaturPower.

All you need to do now is to think of what you really want to do. Without any searching of potential competitors, here’s a bunch of ideas you could do with that name (even with rather limited previous knowledge in the area):

  • Import and retail of solar cell powered battery chargers
  • Import and retail of bicycle powered battery chargers
  • Consulting on small-scale solar cell power system choices
  • Website for comparing renewable energy power system alternatives
  • Website for comparing and rating subcontractors that install renewable energy power systems
  • Website that makes it easier for people to show their friends how they have saved energy

If someone finds the name ViherPower or any of these ideas a least bit interesting, I’m happy to help you in founding the company completely free of charge.

Status update – Day 8/139

I’ve been saving today’s post to send a status update to all of you following my project.

As I mentioned before I was pitching an idea at the Aalto ES today. It went about as good as I expected and definitely better than the rehearsal speech on Monday.

The judges apparently liked my pitch and my idea came third out of eight. That was probably the best possible place to be at, since I got concrete help on where the drawbacks of my idea are. I will have plenty of time later to tell you more about the idea and how I’m going to make it happen.

In the pitching competition the first place was awarded to a great social media experiment called Promises where you can make a promise that your friends can see so that  you have the social pressure of keeping it. I love the idea. Get the site running guys and I can come and promise to do the million before thirty.

The second place went to an idea of starting a Colombian coffee franchise in Finland. All they need is two million to start with but really I hope they pull it through.

So what now?

Now I will discuss with the Tuli people on Monday how they see how they see the market potential in what I’m doing. After that we’ll just start doing it together with the team I will be building in the next few days. It was great to see so many people who had good ideas and wanted to help me in any way they can. Thank you all, I really appreciate your expertise and love to see your ideas developed further.

What comes to this project financially, obviously so far it is on the negative side. After registering a couple of domain names, I’m now at -$21.90.