What’s a startup?• For-proﬁt• Technology based• With a unique unfair advantage• Not limited to geographical boundaries• Scalable, hockey stick curve growth when product- market ﬁt• e.g. : airbnb, kickstarter, square, songza
Challenges• Raw data, sometimes not in a machine- readible format• Open data often related to a country or a city. Hardly scalable• Open data available to all, low barriers to entry• Often related to government services
Clarity of purpose• Lots of noise in open data. Large diversity of apps• Be able to summarize what you in the back of a business card... WITH LARGE LETTERS
Painkiller• Think about delivering something amazing: pick one thing that is a burning importance to a customer (painkiller) then deliver a compelling solution• Can processed open data solve an existing problem?
Large markets• Address big existing markets ready for rapid change. A market with a $1 B potential allows for error.
Customers• Is there anyone willing to pay?• Listing a few people who pay a premium for your unique offering is a good ﬁrst sign.• Often, open data apps can’t identify customers
Think differently• Challenge what’s existing and take the contrarian route.• Idea: offer for free what’s sold by existing companies for a high price
Technology is key• Spend only on great engineering. Be very frugal on everything else• Focus on stealth and speed of iteration• Open data ideas: build superior intelligence and integration with other services
Outlook• very few startups -- land grab!• lots of interest and “sympathy capital”• Wealth of data previously unavailable• Being able to improve society