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Building Your Product: Alternative Funding Models for Digital Success

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When you’re passionate about your product idea it’s tempting to do as much as you can yourself to get it off the ground. Learn how to source the right strategic partners and you’ll be able to get your product to market faster and give yourself more time to focus on the big picture.

This presentation explores:

- How to source strategic partners to help you launch your digital product
- Pros and cons of alternative funding models
- Using strategic partners to establish process and grow your team

Published in: Technology
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Building Your Product: Alternative Funding Models for Digital Success

  1. 1. Building Your Product: Alternative Funding Models for Digital Success
  2. 2. CHRIS EBEN Partner, The Working Group Startup Weekend Organizer / Facilitator @ceben @twg
  3. 3. ABOUT TWG Strategy Design Engineering @twg
  4. 4. IN THIS PRESENTATION What is a strategic technology partnership? Benefits of strategic partnerships How to pick a strategic partner @twg
  5. 5. BUILDING A BUSINESS IS TOUGH… @twg
  6. 6. @twg
  7. 7. BUILDING A BUSINESS IS TOUGH… 44% of new businesses are dead within three years, rising to 50% by year four. Usually due to incompetency: Nonpayment of taxes, insufficient pricing knowledge, lack of planning, poor record keeping. More than 565,000 startups launch each month in the US alone @twg
  8. 8. FAILURE RATE 45% 47% 37% Year 1 Year 2 Year 3 @twg
  9. 9. Speed is a critical factor in today’s market. To give yourself the greatest chance of success, you need to find and build a high-quality team and get your product to market fast. ! For many startups, who are racing to raise capital, develop their product and scout for talent all at the same time, the demands of trying to do it all are simply too high. @twg
  10. 10. Farhan Thanwar from Xtreme Labs / Pivotal Labs says: ! “MYTH: You can build your mobile app internally as fast as an outside firm. REALITY: Building your app yourself will take 4x the time.” ! When they decide to go internal, they’re essentially choosing to pay with time instead of money. Why does it take startups so much longer to do it on their own? They don’t anticipate their most critical need: Hiring. @twg
  11. 11. ENTER THE STRATEGIC PARTNER…. @twg
  12. 12. @twg
  13. 13. “Our success has really been based on partnerships from the very beginning.” ! – Bill Gates @twg
  14. 14. TYPES OF STRATEGIC PARTNERSHIPS Joint ventures Buying shares Co-operation on R&D Channel partnerships Technology partnerships @twg
  15. 15. THE BENEFITS @twg
  16. 16. CAPITAL @twg
  17. 17. @twg
  18. 18. EXPOSURE @twg
  19. 19. @twg
  20. 20. KNOWLEDGE @twg
  21. 21. Quote @twg
  22. 22. RESOURCES @twg
  23. 23. @twg
  24. 24. THE STRATEGIC TECHNOLOGY PARTNER @twg
  25. 25. @twg
  26. 26. A strategic technology partner supports you whilst you validate your product idea, find product-market fit and get traction. @twg
  27. 27. Support can include product strategy, design or development as well as ongoing support and refinement once your product hits the market. @twg
  28. 28. The goal is to learn from them, get to market fast and then shift to building out those capabilities within your own team. @twg
  29. 29. @twg
  30. 30. KEY BENEFITS OF A STRATEGIC TECHNOLOGY PARTNERSHIP Speed to market Experience building products Onboarding talent @twg
  31. 31. SO WHAT’S IN IT FOR THEM? @twg
  32. 32. RETURN ON INVESTMENT @twg
  33. 33. @twg
  34. 34. ACCESS TO DISRUPTIVE TECHNOLOGY @twg
  35. 35. @twg
  36. 36. TAKING THEIR BUSINESS INTO A NEW MARKET @twg
  37. 37. @twg
  38. 38. HOW TO FIND THE RIGHT STRATEGIC PARTNER FOR YOU @twg
  39. 39. LOOK FOR INVESTORS THAT UNDERSTAND YOUR SPACE AND ADD VALUE @twg
  40. 40. @twg
  41. 41. THE RIGHT CULTURE FIT @twg
  42. 42. @twg
  43. 43. AND OF COURSE, A GOOD TRACK RECORD @twg
  44. 44. @twg
  45. 45. Finding the right technology partner is no different than finding your employees or co-founders. ! You need a strong connection and there needs to be a shared vision and belief in what you’re building. @twg
  46. 46. @twg
  47. 47. WANT TO LEARN MORE ABOUT GETTING TO MARKET FAST? Email: chris@twg.ca Ping: @ceben @twg
  48. 48. Building Your Product: Alternative Funding Models for Digital Success

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