AspireLabs! Startup Summer
- 1. Startup Summer 2010 Summary | Elements Structure | Tools
- 2. Startup Summer - Summary • Multiple startups working in a mini-Silicon Valley-style environment to develop their products and find their first customers over a 10-week period • Entrepreneurship School to learn and apply startup development methodologies – Lean Startups, Customer Development, Startup Metrics • Seed funds to cover basic expenses during the initial development stages Startup Summer startupsummer@aspirelabs.net http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 3. Elements Multiple startups Startup University Business Model Minimum Viable Product working together Learn the different aspects of Hypothesis Develop the first version to Work in a mini-Silicon Valley- how to develop a startup Create the hypotheses to be put in front of customers style environment evaluated •Entrepreneurship School •Development of a MVP •Focus on scalable startups Based on courses from the •Definition of the startups’ •Mockup/Screenshots •Ex. Dropbox, Rescuetime, Stanford Technology business model (initial •First version Posterous, Weebly, Reddit Ventures Program hypotheses) •Iterate bases on customer •Lean Startups •Define the value feedback •Cultural elements •Customer Development •Share lessons learned proposition and key •Hi-tech Marketing benefits •Stories and examples •Entrepreneurial Finance from Silicon Valley startups •Basic website (landing •Creativity and Innovation page) •Present experiences to the following generations of startups Startup Summer startupsummer@aspirelabs.net http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 4. Elements Product iteration and Office Hours Demo Day Fund to pay for basic metrics evaluation Receive one-on-one coaching Learn to present to expenses (optional) Improve the product customers and investors Work on your startup full- continuously •Customized coaching for time each startup Internal Demos •Product iterations and •Develop the different •Practice presentations Seed funds weekly presentations to components of your (every 4 weeks) •Amount to cover basic the other teams startup Demo Day living expenses during the •Up to twice per week initial development stage •Presentation to an •Dashboard to evaluate •Investment for a 5%-15% external audience (people hypotheses equity stake with relevant experience, Based on “Getting to Plan B” •Each startup maintains and if possible, potential and ‘Startup Metrics for control and makes its own investors) Pirates’ decisions •Acquisition •Help to find additional •Activation investment if necessary •Retention •Referrals Startup Summer startupsummer@aspirelabs.net •Revenue http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 5. Structure Weeks 1-4 1st Iteration & Minimum Minimum Introduction 1st Internal Viable Product Viable Product Demo Startup University MVP MVP Iteration Business Model Office Hours Office Hours Office Hours Demo Day (internal) Startup Summer startupsummer@aspirelabs.net http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 6. Structure Weeks 5-8 5th Iteration & 2nd Iteration 3rd Iteration 4th Iteration 2nd Internal Demo Iteration Iteration Iteration Iteration Office Hours Office Hours Office Hours Office Hours Demo Day (internal) Startup Summer startupsummer@aspirelabs.net http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 7. Structure Weeks 9-10 7th Iteration & 6th Iteration External Demo Iteration Iteration Office Hours Office Hours Demo Day Startup Summer startupsummer@aspirelabs.net http://www.aspirelabs.net/en/startup-summer-en/ #startupsummer
- 8. Tools Example: Base Website • Clearly defined value proposition • Key benefits • Call to action Source: LeanPub
- 9. Tools Example: Business Model • Product and required resources • Customers and users • Distribution and demand creation Source: Steve Blank
- 10. Tools Example: Dashboard • List of hypotheses • Metrics to evaluate hypotheses • Tracking over time Source: John Mullins & Randy Komisar
- 11. Tools Example: Demo Day Presentation • Business Model • Lessons learned • Metrics and data that support conclusions Source: Steve Blank