Having the mechanics of a strong business model can offer start-ups a significant competitive advantage. That was one of the many lessons learned this past weekend at the first set of workshops kicking off the third cohort of ideaBOOST.
The three days encompassed an intense array of training sessions teaching the absolute must-knows for launching a successful digital business. Our stellar roster of ideaBOOST cohort 3 companies participated in the following programming designed to both sharpen their business acumen, and exercise their vast industry knowledge:
- Virginia Lee Montgomery, expert graphic facilitator from New York-based ImageThink, mapped out the extensive ideaBOOST ecosystem, demonstrating its value to cohort 3 companies.
- Alan Smith from Strategyzer broke down the basics of building a business model with the use of three simple tools: The Business Model Canvas, Value Proposition Canvas and Testing Canvas. Their uses were demonstrated through two case studies, one focused on the B2B sale of solar energy and the other discussing how Nespresso influenced Swiss consumers to spend more on coffee products.
- Business Coach, Warren Coughlin, lectured on the art of delivering an effective business pitch to potential investors and corporate partners. At this time, ideaBOOST companies took their pitches out for a first test drive and were given tips on how to improve their performance.
To wrap up the long weekend, cohort 3 was given the opportunity to test out early versions of their pitches to ideaBOOST Founding Partners. Over the next three months, these start-ups will continue to refine their presentations and business cases in preparation for April, where they will pitch to a large audience of 400+ at ideaBOOST Launch Pad.
Join Us For ideaBOOST Cohort 4!
Are you a start-up looking to accelerate your technology platform or interactive application for the entertainment industry? The next cycle of the ideaBOOST program may be for you. The application process for the 4th cohort of ideaBOOST opens in mid-March 2014. Stay tuned for more details.
Photo Credits: Aida Da Silva & Mike Tjioe