NovigoLabs introduces a collaborative platform to bring together brilliant minds through discovery and innovation to meet the needs of a growing population. The platform connects ideas to teams, teams to resources, resources to prototypes, and products to market. NovigoLabs aims to lower costs and decrease time-to-market through open collaboration.
1. 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
2. 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 & expertise
In order to approach the actual target market we relied upon a
combination of:
statistical data
Research papers
input from customer surveys & interviews
3. Market size
The 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).
4. The market potential we were able to identify during the initial market
assesment amounts ~ $10 billion global market value and a market
share of estimated ~ 50 million for NovigoLabs.
Competition
5. So which problems are we solving?
Innovators face Solutions by NovigoLabs
limited access to a pool of Access specialized information
knowledge shared by patent owners or peers
working on similar ideas
limited access to technical Identify and gain access to shared
resources technical resources
increased time pressure to bring Decrease time-to-market through
ideas & innovations to market collaboration & faster solution
finding
costs pressure Lower costs by accessing
otherwise unavailable information
or expensive technologies
difficulty in recognizing weather Ask & receive valuable feedback
"are we solving the right regarding the feasibility of your idea
problems"? on local & global level
6. The business model
Customer 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
7. 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)
8. 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 rate
Ideas we picked up:
Market to start-ups & entrepreneurs
Partner with crowdfunding platforms
9. How it works – Prototype demo
Visit http://www.novigolabs.com for more
10. 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 can't 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
11. Financing
- Bootstrapped in the very first stage
- VC
- Financing through funding programs fostering
education, innovation and development
(national, EU, international)
- Private-public partnerships
12. The Team that makes it happen
There's a philosophy that believes, the answer to all of life's 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 Stanford's 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:
13. Team Brainergy
Christina Udrea: I started my professional journey as a
scientist, fascinated by the world of secrets still to be discovered.
Unfortunately, the lab at times can be a much isolated space
and I felt that I wanted to reach out more to people and get
involved in new ventures. The internet provided the perfect
environment for that to happen so I enthusiastically dived into
the web tech and the new media & communication worlds where
I have now spent more than a decade. Surely enough, this very
same space also provided a platform for this unique Stanford
adventure to take off. The path from a nice idea to finding a
great 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 of
enthusiasts blended together beautifully. I am confident we will
see this project through and make the NavigoLabs venture a
REAL success beyond Venture-Labs.
14. Team Brainergy
Anna Trankova: I’m Anna. My story started with a special report about
technology and innovation in the Economist, during my summer semester at
university. While reading i, I discovered an inner passion about entrepreneurship
and creation, but I really didn’t have a clue where to start. I took my first MOOC
Stanford University class, Computer Science 101 by Nick Parlante, followed by
Charles Severance’s Internet History, Technology, and Security course at
University of Michigan. I had just completed an internship at a financial
institution, during my summer vacation, when I stumbled across an opportunity
to apply theory to practice with Professor Chuck Eesley’s Technology
Entrepreneurship course at Stanford University’s Venture Lab. After enrolling I
landed in a team for Machine Learning through the development of a Forex
Algorithm 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. The
next step was to create the environment to serve as the platform for
collaboration. Within hours after posting my team, I received message from
Robert and while exchanging ideas as to how the idea could work, I received a
message 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.
15. Team Brainergy
Robert Esposito: I am an impact entrepreneur and start-up specialist who
decided to take a course in Technology Entrepreneurship to enhance my
familiarity with tech start-ups. During the 5+ years I have spent traveling, the
world has changed rapidly and so has the way new ideas become great
businesses. I didn't find Christina right away, instead like many others I started
off in a numbered, faceless, directionless, team, before gravitating to another
team with a really interesting travel related idea. Unfortunately our leader
abandoned 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 unifying
vision. While struggling through our second project I came across Anna
Trankova's idea of creating a platform where people could post problems and
seek or create solutions. While exchanging emails with Anna, she in turn came
across Christina who had started Novigo Labs, a platform to connect ideas to
teams, teams to resources, resources to prototypes, and products to market.
While I struggled to wrap my head around the business model, I loved the idea
and believe that it can gain some traction. Christina and Anna both
demonstrated professionalism, dedication, and great energy so I requested to
join the team. Gratefully, Christina accepted and even though I came to the
team late, and have experience some technical challenges, I've been doing my
best make Novigo Labs an awesome success.
16. Team Brainergy
Tony Hanberg: I was born in Denmark but have lived in New
Hampshire, US, for the last 7 years working as a software
consultant. I joined the Technology Entrepreneurship course with
the hope of gaining more experience with the start-up process,
while making some new connections, and possibly get something
going. My journey began with the Rock, Paper and Scissors team,
but as the course went on members slowly trickled out until there
was only active person left. I turned to the TE community via the
forum and found Christina, who invited him to join Brainergy. Given
my background as a developer, I have been heading up the back-
end part of the MVP.
17. Team Brainergy
Krystle Phillips: My name is Krystle Phillips. I am 25 years of age. At the age of
19, I opened my first business and tasted the joys and freedom of
entrepreneurship. I live in Trinidad and Tobago and I am the Stores
Administrator at Royal Castle Limited, the Zone Coordinator for a local youth
group and also the PR and Marketing manager for a local charity. Currently, I
am pursuing 8 other courses in addition to this one, along with managing my
own 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 Stanford
courses. I was ecstatic and immediately signed up for four that were along my
career path. This course has interested me the most and I was apprehensive
since I was coming into it at the halfway mark. When I was finally enrolled, I
realised I needed a group and frantically messaged about 20. In the end a few
groups responded favourably but Christina’s Brainergy stood a foot above the
rest.
I also spread the word about the course and my experience and a few of my
friends have since enrolled as well.
