How far along is your startup?

How far along is your startup?

We can provide the most support during the early stages of development because we are focused on getting teams feedback on everything from product to marketing to business model and policies.  And at this stage, teams can quickly incorporate and use the feedback to make changes to their offering.

The 3 Stages

1) Discovery

Purpose: Your startup is focused on validating whether you are solving a meaningful problem and whether anybody would hypothetically be interested in your solution.

Events: form your founding team, many customer interviews are conducted, value proposition is found, minimally viable products are created, Friends and Family financing round, first mentors & advisors come on board.

2) Validation

Purpose: Your startup is looking to get early validation that people are interested in your product through the exchange of money or attention.

Events: refinement of core features, initial user growth, metrics and analytics implementation, seed funding, first key hires, pivots (if necessary), first paying customers, product market fit.

3) Efficiency

Purpose: Your startup is refining its business model and improving the efficiency of your customer acquisition process. Your startup is seeking to efficiently acquire customers in order to avoid scaling with a leaky bucket.

Events: value proposition refined, user experienced overhauled, conversion funnel optimized, viral growth achieved, repeatable sales process and/or scalable customer acquisition channels found.

Is your startup in one of these stages and working on solving a big urban challenge? You should apply.

These startup stage definitions are based on http://blog.startupcompass.co/pages/marmer-stages.