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Business Bout: Venture Bootcamp.


What a weekend! We had access to incredible information and coaching all weekend. As a team, we made some big decisions and realizations that give us a much more concrete understanding of our development vector as well. We were having trouble reconciling our consumer sales model with the developing user support model. Our two patrons just needed two very different things. We refocused our business strategy to market towards International Aid Organizations, Peacekeeping forces, and Government Departments operating within hostile water conditions. This allows us to develop the same product for our paying customers as well as our supported patrons in developing areas.

While learning from and bouncing ideas off of 35 other new venture teams we were able to really validate and improve a lot of the aspects of our company strategy, which was invaluable. In an impromptu pitch competition we were placed 4th out of the 35 by our peers and sponsors, and after a week to prepare we were invited to join Thrill Mill’s 2014 incubation team. This is very exciting and values our company at a little bit more than $100,000. They have offered us $5000, incorporation, and a place to work for a year, in exchange for 5% equity. We will have to discuss our plans as a team, as I know a bunch of us were interested in continuing this project out west. Regardless of what we decide, this is a great opportunity, and it is an honor to be chosen among such a strong class of applicants.

 

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