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eegloo business lab pitch @ TechHub Riga monthly meetup
13+	
  years
in	
  web/mobile	
  development
+money	
  	
  +experience	
  	
  -­‐perspective	
  	
  -­‐fun
Arghhh,	
  I’m	
  
gonna	
  die!
To	
  survive
you	
  need	
  to	
  adapt	
  
3	
  startups
SaaS/social/mobile
-­‐money	
  	
  ++experience	
  	
  ++perspective	
  	
  +fun
What	
  eegloo	
  actually	
  is?
An	
  igloo	
  (Inuit	
  
language:	
  iglu,[1]	
  ᐃᒡᓗ	
  
[iɣ.'lu]	
  or	
  snowhouse	
  
is	
  a	
  type	
  of	
  shelter	
  built	
  
of	
  snow,	
  originally	
  
built	
  by	
  the	
  Inuit.
a	
  new	
  type	
  of	
  incubator	
  that	
  offers	
  its'	
  
inhouse	
  team	
  &	
  cozy	
  place	
  to	
  bake	
  lean,	
  
itch-­‐scratching,	
  globally-­‐oriented	
  and	
  
revenue	
  focused	
  startups.
Bakery
Get	
  feedback.
Launch.
Pivot.
3x
3x
3x
Much	
  faster...
How	
  it	
  was	
  born
Solo	
  founders	
  take	
  3.6x	
  longer	
  to	
  reach	
  
scale	
  stage	
  compared	
  to	
  a	
  founding	
  
team	
  of	
  2	
  and	
  they	
  are	
  2.3x	
  less	
  likely	
  
to	
  pivot.
How	
  it	
  was	
  born
Many	
  investors	
  invest	
  2-­‐3x	
  more	
  
capital	
  than	
  necessary	
  in	
  startups	
  that	
  
haven’t	
  reached	
  problem	
  solution	
  ;it	
  yet.	
  
They	
  also	
  over-­‐invest	
  in	
  solo	
  founders	
  
and	
  founding	
  teams	
  without	
  technical	
  
cofounders.
How	
  it	
  was	
  born
Startups	
  need	
  2-­‐3	
  times	
  longer	
  to	
  
validate	
  their	
  market	
  than	
  most	
  
founders	
  expect.	
  This	
  underestimation	
  
creates	
  the	
  pressure	
  to	
  scale	
  
prematurely.
The	
  purpose
revenue	
  
stream
quality	
  
level
time	
  to	
  
market
ABCD
Round’mania
Round’mania
A	
  beer	
  pub	
  
growing	
  it’s	
  
userbase
Monetization:	
  
charge	
  for	
  WC	
  
visit	
  :)
ofZice	
  in	
  Valdemāra	
  Pasāža
Now	
  eegloo	
  is
€200K	
  funded	
  (with	
  €400K	
  cap)
team	
  of	
  6+	
  people
What	
  eegloo	
  has	
  to	
  offer
designdevelopment
premises
salary
marketing
β
advisory
β
! !
Focus	
  is	
  the	
  king
we	
  have	
  some	
  criteria	
  to	
  Zit	
  in
revenue-­‐focused
itch-­‐scratching
light-­‐n-­‐lean
go-­‐global
trendy-­‐but-­‐classic
tech-­‐able
business-­‐light
Let’s	
  take	
  an	
  overview
revenue-­‐focused itch-­‐scratching light-­‐n-­‐lean go-­‐global
trendy-­‐but-­‐classic tech-­‐able business-­‐light
! ! ! !
Startups	
  at	
  any	
  stage	
  are	
  welcome
idea	
  +	
  founder prototype	
  +	
  founder prototype	
  +	
  founder
idea	
  +	
  founder prototype	
  +	
  founder prototype	
  +	
  founder
Stage	
  VS	
  Equity
90%....50%....10%
Startup	
  Lifecycle
Develop	
  
prototype
<6w <4w
Launch	
  &	
  
Market
<8w
Pivot.	
  Develop	
  
2nd	
  version
<6w
Update	
  &	
  get	
  
feedback
<8w
Pivot.	
  Develop	
  
3rd	
  version
<4w
Get	
  Zirst	
  
revenue	
  or	
  hit	
  
milestone
exit	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  &Zly	
  
Underperforming	
  is	
  not	
  an	
  option.
Life	
  is	
  tough.
We’ll	
  keep	
  startup	
  pool	
  alive.
Future	
  ahead
5-­‐8	
  startups	
  this	
  year
get	
  another	
  €	
  200K	
  on	
  board
eegloo@Stockholm	
  in	
  a	
  year
eegloo@Berlin	
  in	
  two	
  years	
  
Join	
  Startup	
  Crusade!
Pledge	
  your	
  sword
apply@eegloo.net
@eegloolab
Thanks	
  to	
  Māris	
  Jansons	
  for	
  the	
  delicious	
  snacks!

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eegloo business lab pitch @ TechHub Riga monthly meetup