He left his well-paid job to be an entrepreneur, he moved out from his penthouse to finance his business, he left almost everything to be his own instructor. Then he failed and was left with almost nothing but he didn’t give up, he stayed focused. He never believed in making the sky his limit because he desired to go beyond the sky and aimed to nurture startups and that’s what made him the founder of Innovify. Here is Maulik’s slice of life in the form of interview at The Chrissy B Show.
Having understood the struggle that a startup faces, Innovify has pointed out 6 most common mistakes that entrepreneurs can avoid making to ensure a successful business.
Some believe there is little or no planning with Agile. In fact, there is detailed planning. The difference with Agile is that planning is ongoing instead of a one-time event that gets signed off at the beginning of the development cycle, which occurs at varying levels of complexity and granularity.
When we first met Fred, the founder of Brickowner, we could feel his passion and ambitions to be the market leader for property crowdfunding. He had a great idea, highly experienced partners, and a very aggressive plan to grow and fund raise. They were also working with UI/UX and branding agencies. But if they were going to succeed, they desperately needed technology know-how and the right business processes required to set such platform. So they came to Innovify.
It’s surprisingly common that startups don’t carry out enough research to back up the hypothesis around their idea. At times, they completely misunderstand the value proposition on which they build their product. In simple terms, they try to solve a problem which doesn’t exist or can easily be solved with alternative solutions.
The Minimum Viable Product (MVP) is a product which has just enough functionality to validate the underlying assumptions, test and learn about the target market and plan for the next evolutionary functionality for its continued development. Incidentally, most founders confuse the MVP with either a prototype or a full-blown product and fail to find the right balance between the two.
Innovify inked an historic MOU with GVFL , ensuring its graduating startups an opportunity to get the perfect launch-pad. This MOU is another milestone towards the mission of Innovify to launch 100 products in 10 years via its incubation lab.
Startup success stories abound billion‐dollar acquisitions, high‐stake exits, consecutive rounds
of funding. That is unless you track the world of entrepreneurship and startups for a living. Like
we do. Because that is when you see the other side of things. The dose of reality that shatters
the rags‐to‐riches tales that the world has come to see, nay, expect of entrepreneurship. No sir,
that’s far from the complete frame. While those that make it, go on to carve their names in the
books of history, it’s a long journey to startup stardom, and a longer one from there. For a great
idea alone, does not a great business make.
Innovify was invited to Judge the annual business plan competition for MSc & MBA students of the Imperial College, London keeping in account Innovify’s core expertise to encourage & hand hold tech-startups to succeed.
12 participating teams presented their startup ideas to the Panel.