NovigoLabs introduces a collaborative platform aimed to bring brilliant minds together to meet the needs of a growing population through discovery and innovation. NovigoLabs online platform connects your ideas to teams, teams to resources, resources to prototypes, and products to market.Technology Entrepreneurship Programm 2012 Stanford University
Let us tell you a story …You thinkathat bringingthat believes, Theres philosophy newAbout 10,000 years ago, humanswere answerto the of lifes problemsinnovations to all market is were the prey and predators exists in our collectivewinning. boys" game andthe "bigtheres little to no Novigo Labs consciousness. place inthere for you?platform to bring provides the Not true!We weren’t more ferocious than a that creative consciousnessTurning the game cheetah, or bigger in yourlion, fasterand facilitate innovators‚ together than athan an about survival andfavor is elephant.winning. success. way toSoabout playing the sameIs we had to outsmart themgame your ancestors did.To compete, we developed newIts about using fine skills,technology, language, giving us thedetermination and a platformability to communicate complexto give you the competitivethoughts and create community, weAdvantage.started to share knowledge, learnfrom each other and work togetherto outsmart the threats and becomefrom prey, predator.
The market opportunity Increased pressure on cost & the need to bring products to the market faster increases atractivness of gaining fast access to a bigger pool of knowledge & supports adoption of open collaborative innovation. Changes in globally available infrastructures (ex. cloud computing) push towards adopting new collaborative business models Improved models and approaches regarding intellectual property (ex. open source) allow for more flexibility and sharing between innovators or companies rise in the number and mobility of knowledge workers makes it incresingly difficult for companies to control ideas & expertiseIn order to approach the actual target market we relied upon acombination of: statistical data Research papers input from customer surveys & interviews
Market sizeThe 2012 EU Survey on R&D Investment Business Trends sees investments in R&D increasing by an average of 4% annually over 2012 to 2014 with the software and computer services sector exceeding expectations with growth rates in R&D investments over 2012-2014 of 11% per year* Interesting fact: collaboration with suppliers & customers is given more importance than to formal licencing > indicates a trend towards more open innovation.*Participants were large companies accounting for €45 billion in R&D investments (which makes ~ 40% of the total R&D investment by the 1,000 top EU based investors).
The market potential we were able to identify during the initial marketassesment amounts ~ $10 billion global market value and a marketshare of estimated ~ 50 million for NovigoLabs. Competition
So which problems are we solving? Innovators face Solutions by NovigoLabslimited access to a pool of Access specialized informationknowledge shared by patent owners or peers working on similar ideaslimited access to technical Identify and gain access to sharedresources technical resourcesincreased time pressure to bring Decrease time-to-market throughideas & innovations to market collaboration & faster solution findingcosts pressure Lower costs by accessing otherwise unavailable information or expensive technologiesdifficulty in recognizing weather Ask & receive valuable feedback"are we solving the right regarding the feasibility of your ideaproblems"? on local & global level
The business modelCustomer segments Value propositions creative people with a a collaborative tool to drive for innovation and enable formation of "cluster disruptive thinking (age teams" & work on projects groups: 12+) based on similar interests research labs and access to shared independant scientists (otherwise very expensive) Education networks technologies Small to midisze foster innovation in businesses as beneficiary education of innovations privileged access for Small & serial established businesses & entrepreneurs entrepreneurs to the latest discoveries and innovative applications
Revenue streams Cost structure Revenue Salaries 2% royalty fee on PR & Marketing innovations Development 10% on buying / selling Other licences over the platform Membership fees for businesses & participating organizations Small membership fee for users (in the 2nd stage, from 10000 users up)
Marketing Strategy Marketing channels Marketing channels tested for stage 2 (once the Direct approach of peer platform is fully functional) innovators Email marketing Google+ social marketing Content marketing & PR Specialized LinkedIn groups B2B networks advertising Facebook marketing on Entrepreneurs & VC relevant fan pages and networks groups Between 30 – 50% conversion rateIdeas we picked up: Market to start-ups & entrepreneurs Partner with crowdfunding platforms
How it works – Prototype demo Visit http://www.novigolabs.com for more
Risks• Financial risk needs to be addressed first. Solution: Identify potential revenue streams. ‘Work out the bugs‘ than build an early user base and collect more data.• Technical risk. We need to develop the platform fast enough to satisfy the early adopters and keep them excited . Solution: Money alone cant solve this problem, we will set up a technical rollout schedule, HR and strategy through the first year.• Third risk is people: Early stage employees and Users. Employees are the largest expenditure for a tech startup Solution: Shares, deferred payments, vacation & other non-monetary rewards
Financing- Bootstrapped in the very first stage- VC- Financing through funding programs fostering education, innovation and development (national, EU, international)- Private-public partnerships
The Team that makes it happenTheres a philosophy that believes, the answer to all of lifes problems exists in our collective consciousness and Novigo Labs provides the platform to bring that creative consciousness together. Novigo Labs came about with one person and a simple idea to bring brilliant minds together to meet the needs of a growing population through discovery and innovation. The simplicity, ambition, and potential of idea formed the nucleus attracting like-minded individuals to its core, forming a team to breathe life and substance to the idea. During the early days of the Technology Entrepreneurship course at Stanfords Venture Labs most of us were arbitrarily jammed together into groups based on geography not interests or complimentary skills. Many of us were stuck with poor leadership, bad ideas, and ultimately failed teams. Along the way each of us eventually were eventually introduced to Christina at Novigo Labs and new we found our home. Five active members now round out our team, each with complimentary skills to help us bring Novigo Labs from idea to reality.Brainergy is our team and these our our stories:
Team Brainergy Robert Esposito: I am an My story started with a special report about Anna Trankova: I’m Anna.impact entrepreneur and start-up specialist whoKrystle Phillips: My name in the Economist, during my summer semester age ofChristinaand a course inbornmyDenmarkam andyearslived in At my at decided to Udrea: was Technology Entrepreneurship toofas a scientist, technology take innovation is Krystle professional journeyenhance the Tony Hanberg: I business and tasted the joys 25 freedomage. New19, I opened my first I started in Phillips. I but have familiarity While reading it, I During the 5+ years I have aboutof university.with tech start-ups.discovered an inner passionspent traveling, the Hampshire, US, live in Trinidad has Tobago and be discovered. start. I fascinated by the the last secretsworking as abecome for world of years still to ideas softwareentrepreneurship. and creation, so7and the way new I amclue Storesgreat entrepreneurship I rapidly and but I really didn’t have a the where to world has changed consultant. atjoinedCastle at timesaway, be a muchmany acourse with businesses. I Royal Christina right can instead like Science 101 started Unfortunately, the lab University class, Computer isolated spaceAdministratorIMOOCfindthe TechnologyZone Coordinator for others Iyouth took my first didnt Stanford Limited, the Entrepreneurship local by Nickgroupa numbered, bywanted Severance’steam, beforestart-up and another the hopealsothat faceless, directionless, Internetthe people process, I off and I felt gaining more to reach outwith local charity. Currently, in and of the I Charles experience more to gravitating to get Parlante, followed PR and Marketing manager for aHistory, Technology, and Interested in partnering with us?am involved8in atinteresting in addition internetUnfortunately managing my at a team with a really University of Michigan. idea.just along withget something Security course some new travel relatedIthisand possiblythe perfect while making new ventures. The to hadone, completed our internship pursuing other courses connections, provided an leaderown business. It’s a during my summerappetite isnot to elect a newacross an abandoned journey that the but my vacation, when I and Scissors into going. institution,for Iand to happen so I to huge. environment lot know, team decided enthusiastically team team, financialMy the coursebegan with the Rock, Paper stumbleddived leader,One night while doingeach person would do what they wantfor free Stanford instead deciding that some research, with Professor Chuck Eesley’s opportunity to apply theory to practice I came across a link without any unifying the web course went on members slowly trickled out until there the tech and the new media & communication worlds where but asWhileEntrepreneurship course at Stanford University’s Venture Lab. After vision. email@example.com Technology struggling through our second project I came across Annacourses. I was ecstatic and immediately signed up for four that were along mycareer path.idea of creating ainterested decade. throughI the development of a washavelandedspent more Machineme topeople could was apprehensive Trankovas active person for than awhere most and post problems and enrolling I now course hasleft. I turned thetheSurely enough, thisthe I only This in a team platform Learning TE community via very ForexI wasspace also provided a platformhim this unique Stanford same coming I realized who invited for I Anna, she in turnsince or and foundinto it Whilemy desire to emails with join in collaborationI with forumAlgorithm and Christina,exchanging solve problemsfinally enrolled,Given seek create solutions. at the halfway mark. Whentowas Brainergy. camerealisedChristinatoatakefor “finding pathdefining” theabout 20.to finding back- across neededwho had and frantically from a nice idea problems a to my backgroundteama off. TheNovigohave beenrelevantconnect ideasfew adventure group started and Labs, a platform to In the end a others. IIstarted a as developer, I messaged heading up thein thegroupsThe of the MVP. to help Christina’s Brainergy serve asan to market. teams, teams tostep was resources to prototypes, wasproducts platform for end partteam resources, create the environment and not the above the world. responded favourably but make it happento stood a footeasy one, great next who canrest. I struggled to wrap my head around the business model, I loved the idea While collaboration. Within hours after posting my team, I received message from and althoughcan gain some traction. Christina and the final group of we had a late start as a team, Anna both and believe that word about ideas as to how the idea could work, I received Robert and whileitexchangingthe course and my experience and a few of my aI also spread the blended together beautifully. I am confident we will enthusiastsfriends have since enrolled as well. she already had a great idea requested to demonstrated Christina stating that message from professionalism, dedication, and great energy so I how to do that join the team. Gratefully, a great start to the “realNavigoLabs venture a -“Novigothis projectwas Christina accepted and even though I came Brainergy. see Labs”. This through and make the thing” with her and to the REAL success beyond Venture-Labs. team late, and have experience some technical challenges, Ive been doing my best make Novigo Labs an awesome success.