What Are The Chances??

About 8 months back we have been working on our idea and now we are happy to say that we are working to build an mobile app which will be done in 3 months time!

Is a SaaS mobile application targeting the fitness industry & we understand that is a really competitive market, no doubt we still have confidence in our business model!!

There is no proof of concept yet, so what are the chances that VCs & angel investors in SINGAPORE would invest in us?

We need someone valuable, we are open to interested parties (Investors & VCs) and constructive feedbacks, furthermore this pandemic is a blessing in disguise for us!!

submitted by /u/donnawelladmin
[link] [comments]
Startups – Rapid Growth and Innovation is in Our Very Nature!

Slow customer growth post-Seed, what are the chances of raising another round?

TL;DR: Startup struggling to grow post-Seed, any advice for future funding rounds?

Hi everyone

I'm the founder of a B2B marketplace startup. I was a solopreneur during most of 2019 and bootstrapped the entire business. I launched the product in Q3 2019 and began acquiring business customers quite soon after launch.

We raised a pretty sizeable seed round from a VC right before Xmas 2019 and I spent the first 3 months hiring two experienced senior team members (Ops & Tech), and developing our branding & website.

At the end of January this year, we were seeing average growth, probably getting a new business customer every 2-3 weeks. We weren't too worried as we were still developing our product, funnel, sales strategy and so on.

Once COVID hit, like many of us, all sales and interest took a nosedive. Our pipeline turned to shit, and they claimed to no longer have budget for our product, despite it sitting in a relatively integral function of a business (HR/Culture).

Our strategy to cope with this so far:

  1. Circle back on our product. We recently retained a great UX/UI designer for a lot less than his market value (due to being furloughed) to properly design what I had bootstrapped and sold to clients. Prior to covid, the strategy was to sell what we had (a crappy looking but very functional platform) for as long as possible until our revenue reached a milestone that triggered a redesign.
  2. Focus on getting the most out of our current clients. Our platform is accessed by all employees of a business, so our focus was to boost engagement so we can potentially grow their account size. Moreover, we could use that to build case studies to attract new customers
  3. Slightly shift our marketing strategy. We ceased all direct sales advertising, and have now ceased cold-mailing and outbound campaigns. Instead, we are investing our budget on building brand recognition and awareness in our sector so that we are top of mind when things go back to normal.
  4. Market research. The nagging question mark is that of Product Market Fit. I fear that early signs of PMF we had before covid-19 are now out of the window as those businesses have been dealt a hammer blow. So our challenge now is to build a method in which we experiment and test different iterations and marketing messages to see which market segment gains the most traction.

My worry is: without growth, are we a lame duck?

Why I've decided to post. I'm anxious that we're not going to be attractive to any investor if we haven't shown aggressive growth, despite the recession.

My question to you:

What are the kinds of achievements to strive for, if growth is not possible, to investors in Q4 2020 in order to raise another round?

Currently we have a run rate of about 15 months which is OK but that's if we strap ourselves in and essentially only pay salaries.

submitted by /u/vincentvanglock
[link] [comments]
Startups – Rapid Growth and Innovation is in Our Very Nature!

Ocean Of Opportunities Brings Waves Of Chances To All Startups

Organized by Symphony Creative Solutions & NUS Enterprise, Ocean of Opportunities and its corporate partners, among them Hapag-Lloyd, the “K” Line, Ocean Network Express, and Yusen Logistics, are looking for innovative solutions to specific questions within the logistics and shipping industries.

Looking for a variety of technologies, including chatbots, virtual reality, and gamification among others, O3 has themed its challenge statements around two tracks:

General Track

This year, the general track centers around 5 specific challenges:

#1 Virtual Walkthrough for Vessels

How can we break away from the conventional 2D drawings of vessels?

#2 Digitalizing and categorizing contract terms

How can we effectively digitize the systematic processing and recording of our contracts with various vendors, which would enable future in-depth analyses?

#3 Determining the necessity of container inspection

How can we use technology to determine the condition of the container without physical inspection?

#4 Efficient Data Exchange with non-system-integrated Container Freight Station (CFS)

How can we exchange data accurately with non-system integrated CFS efficiently and promptly?

#5 Visualization of roll trailer management

How can we accurately and efficiently manage and track roll trailer movements and conditions?

If you have a solution that answers one of these questions, apply by 10 June!

Artificial Intelligence (AI) Track

For the AI Track, O3 formulates 3 challenges:

#1 Schedule reliability prediction using publicly available data

How can we make use of publicly available data to improve predictions in arrival times of liners?

#2 Dynamic pricing based on all determinant factors

With short historical data and non-digital determinant factors, can we still adopt dynamic pricing?

#3 Identification of high-risk vessels based on open-source intelligence

How can we gather enough information from open-sourced intelligence to have a good oversight on the conditions of charter vessels?

If you have a solution that answers one of these questions, apply by 10 June!

What’s In It For Your Startup?

For the winners and finalists of its Innovation Challenge, Ocean of Opportunities offers a variety of exciting prizes:

  • Cash prizes totaling more than $ 8,000
  • Opportunity to test your solutions on O3’s testbeds and operational sites
  • Direct cooperation on Proof of Concept with corporate partners for winners in the framework of a Bootcamp
  • Mentorship from experienced industry players
  • Special chance to open a new market in Hong Kong, one of the hotspots for shipping companies, through O3’s newest partner, Hong Kong Cyberport – including the chance to meet corporates, investors, and mentors
  • Possibility for your technology to be implemented in ports and ships all over the world
  • Exposure in the trillion-dollar logistics & shipping industries

Timeline

  • 10 June – Application Deadline for the Artificial Intelligence Track
  • 10 June – Application Deadline for the General Track
  • August – Final Pitch
  • October – Bootcamp

To bring your startup to the next level, visit O3’s website & apply [LINK]!

O3 Recap 2019

Challenge statements will be announced on 26 Feb 2020! Check out ooo.sg for statements and submission details!Excited about O3 2020? Here's what you can expect!

Posted by Symphony Creative Solutions on Sunday, February 23, 2020

 

_________

Sharing is caring!

The post Ocean Of Opportunities Brings Waves Of Chances To All Startups appeared first on StartUs Magazine.

StartUs Magazine