Is it possible to accelerate and launch a startup in just 100 days? This is what the 10 startups participating in the Startupbootcamp Internet of Things and Big Data acceleration programme demonstrated on the afternoon of 9 April 2015 before 300 potential investors and partners.
For a few hours the landmark Torre Agbar building became a venue where entrepreneurs from around the world presented disruptive services and solutions to forge the future. The Demo Day of the first edition of the Startupbootcamp IoT & Data acceleration programme in Barcelona constituted the culmination of a process that began in January and changed the lives of all the participants who obtained a slot.
Over the course of the 100 days in which representatives of the 10 startups shared the mStartup floor of the Barcelona Growth Centre, all of them received on-going guidance from specialised mentors and participated in workshops organised to improve their products. The objective was none other than to get to the Demo Day with a pitch convincing enough to sway investors.
For Cubilog, a Hungarian startup whose technology controls all of one’s home devices, connected through a single application, the acceleration programme demonstrated the importance of working with other startups at the team level. In addition to a much more established business, they have drawn from their experience contacts and points of view from startups they can create synergies with in the future.
Boosting a company’s value and providing clear knowledge of the different business phases is what Datumize, a startup that has created corporate data compilation and management software, highlighted from the Startupbootcamp, while the Zolertia team reported that the mentors did essential work to redefine many of the startups’ businesses. The Catalonian startup, which produces hardware allowing anyone to develop their Internet of Things-related applications, modified its image, logo, website and its community based on the advice received during the 100-day acceleration programme.
Other startups that underscored the significant work done by the mentors were eNovalys, which is focused on the creation of a consultation platform designed to amass all scientific research; Muzze, developers of audioguides for museums; and Nuwe, a creator of tools devised to implement health and well-being apps. The latter, in addition, learned through the acceleration process about the importance of identifying a company’s weaknesses in order to adjust its strategy and convert them into elements that contribute value.
Image | Startupbootcamp Demo Day
In addition to the mentors’ advice, the workshops also helped all the startups to take a step forward in their approaches to their businesses. The Social Coin, for example, singled out the workshop led by Ian Collingwood, from UXdna, for the lucidity of its global market view. Collingwood’s participation in the IoT & Data acceleration programme was acknowledged on the Demo Day, where it was recognised as Best Workshop. Meanwhile Luke Angell, business development director at Vittalia Internet, received the prize for Best Mentor.
Ôasys, the startup that wants to introduce the first smart device specific for connecting families, also appreciated the opportunity that the Startupbootcamp programme furnished them to form part of 4Years From Now (4YFN), the premier mobile entrepreneurship showcase. The event provided them with valuable feedback to continue ahead, in addition to media exposure they never could have imagined.
In short, as stressed by Plytix, a startup specialised in retail sector Big Data, and Teraki, which works on reducing data packages, the essential takeaways from the 13-week Startupbootcamp programme were – in addition to the financing, office space, contacts, and the mentors and workshops – guidance on how to run a startup, and thorough knowledge of market needs and requirements.
The Demo Day on 9 April demonstrated that in 100 days, with the right methods and tools, a startup can be accelerated in the first stages of its development and transformed into a company that is fully prepared to enter the market. This is something that, without a doubt, will have to be followed up on during the coming months.