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
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 BrainergyChristina Udrea: I started my professional journey as ascientist, fascinated by the world of secrets still to be discovered.Unfortunately, the lab at times can be a much isolated spaceand I felt that I wanted to reach out more to people and getinvolved in new ventures. The internet provided the perfectenvironment for that to happen so I enthusiastically dived intothe web tech and the new media & communication worlds whereI have now spent more than a decade. Surely enough, this verysame space also provided a platform for this unique Stanfordadventure to take off. The path from a nice idea to finding agreat team who can help make it happen was not an easy one,and although we had a late start as a team, the final group ofenthusiasts blended together beautifully. I am confident we willsee this project through and make the NavigoLabs venture aREAL success beyond Venture-Labs.
Team BrainergyAnna Trankova: I’m Anna. My story started with a special report abouttechnology and innovation in the Economist, during my summer semester atuniversity. While reading i, I discovered an inner passion about entrepreneurshipand creation, but I really didn’t have a clue where to start. I took my first MOOCStanford University class, Computer Science 101 by Nick Parlante, followed byCharles Severance’s Internet History, Technology, and Security course atUniversity of Michigan. I had just completed an internship at a financialinstitution, during my summer vacation, when I stumbled across an opportunityto apply theory to practice with Professor Chuck Eesley’s TechnologyEntrepreneurship course at Stanford University’s Venture Lab. After enrolling Ilanded in a team for Machine Learning through the development of a ForexAlgorithm and I realized my desire to solve problems in collaboration with others.I started a team for “finding and defining” the relevant problems in the world. Thenext step was to create the environment to serve as the platform forcollaboration. Within hours after posting my team, I received message fromRobert and while exchanging ideas as to how the idea could work, I received amessage from Christina stating that she already had a great idea how to do that-“Novigo Labs”. This was a great start to the “real thing” with her and Brainergy.
Team BrainergyRobert Esposito: I am an impact entrepreneur and start-up specialist whodecided to take a course in Technology Entrepreneurship to enhance myfamiliarity with tech start-ups. During the 5+ years I have spent traveling, theworld has changed rapidly and so has the way new ideas become greatbusinesses. I didnt find Christina right away, instead like many others I startedoff in a numbered, faceless, directionless, team, before gravitating to anotherteam with a really interesting travel related idea. Unfortunately our leaderabandoned the course and the team decided to not to elect a new team leader,instead deciding that each person would do what they want without any unifyingvision. While struggling through our second project I came across AnnaTrankovas idea of creating a platform where people could post problems andseek or create solutions. While exchanging emails with Anna, she in turn cameacross Christina who had started Novigo Labs, a platform to connect ideas toteams, teams to resources, resources to prototypes, and products to market.While I struggled to wrap my head around the business model, I loved the ideaand believe that it can gain some traction. Christina and Anna bothdemonstrated professionalism, dedication, and great energy so I requested tojoin the team. Gratefully, Christina accepted and even though I came to theteam late, and have experience some technical challenges, Ive been doing mybest make Novigo Labs an awesome success.
Team BrainergyTony Hanberg: I was born in Denmark but have lived in NewHampshire, US, for the last 7 years working as a softwareconsultant. I joined the Technology Entrepreneurship course withthe hope of gaining more experience with the start-up process,while making some new connections, and possibly get somethinggoing. My journey began with the Rock, Paper and Scissors team,but as the course went on members slowly trickled out until therewas only active person left. I turned to the TE community via theforum and found Christina, who invited him to join Brainergy. Givenmy background as a developer, I have been heading up the back-end part of the MVP.
Team BrainergyKrystle Phillips: My name is Krystle Phillips. I am 25 years of age. At the age of19, I opened my first business and tasted the joys and freedom ofentrepreneurship. I live in Trinidad and Tobago and I am the StoresAdministrator at Royal Castle Limited, the Zone Coordinator for a local youthgroup and also the PR and Marketing manager for a local charity. Currently, Iam pursuing 8 other courses in addition to this one, along with managing myown business. It’s a lot I know, but my appetite is huge.One night while doing some research, I came across a link for free Stanfordcourses. I was ecstatic and immediately signed up for four that were along mycareer path. This course has interested me the most and I was apprehensivesince I was coming into it at the halfway mark. When I was finally enrolled, Irealised I needed a group and frantically messaged about 20. In the end a fewgroups responded favourably but Christina’s Brainergy stood a foot above therest.I also spread the word about the course and my experience and a few of myfriends have since enrolled as well.
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