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. When validating, Innovify looks for a startup which has addressed a real problem. Has made a comprehensible business model where numbers & figures are backed by enough research. Creating an ecosystem which can be easily analysed, where each & every player & their impacts can be identified. Emphasizing on the importance of defining the value chain efficiently, Innovify looks for a low risk startup with a potential for high returns, making it attractive for investments.
The ideas Innovify witnessed were appalling. Team Pegasus excelled at Innovify’s expectations, winning the competition. Closely following was Team Food2(Food Squared) as the runners up.
Some of the other teams with noteworthy ideas were team Comparify, Fitme Flex, Cloud Key & PEX. Startup ideas varied from fulfilling the users’ need of getting the best phone contract as per individual’s need, enabling users to come across chefs in their region to cook for them at users’ home, a marketplace for art lovers to rent and get highly valuable art pieces, addressing one of the biggest problems while shopping online i.e. how to order shoes without trying them, a way out to an everyday problem i.e. losing the keys and paying expensive call-out charges from local locksmiths, Fin-tech concept based on person to person foreign exchange, and many more.
Innovify understands that an idea is worth only if it can be executed. With the same vigour, Innovify has mentored and nurtured a number of startups and aims to launch 100 startups in 10 years.
Walking towards achieving our aim, we have launched crowdfunding campaign to address high failure rate in uk start-ups