Starting a business in less than 54 hours is something I’ve been accustomed to over the past nine months. I’ve had the privilege of being part of more than one Start-up Weekend in 2012 and my latest exertion did not disappoint. Only this time, my team and I were building our prototype on a bus. On the way to Paris. Via Belgium. Yikes.
FounderBus UK was an initiative launched in tandem with Start-up Bus Europe, whereby groups of 25 individuals from a number of cities ranging from Toulouse, Copenhagen, Barcelona, Berlin and Oxford made their way to Paris over the course of five days, whilst forming teams, building prototypes and getting traction. Oxford Entrepreneurs did a fantastic job as facilitators for the FounderBus UK cause, and I’m sure Manchester Entrepreneurs will be working closely with them in the near future.
Being around such an ambitious individuals was the primary reason for accepting my place on FounderBus UK only two days before the journey began. The usual start-up weekend format took place here, whereby those who had ideas had a 2-minute timeframe to pitch what their idea entails. Not wanting to break tradition, I decided to pitch two ideas- both which I had scrambled together on the train journey to Oxford.
In the evening, two inspiring speakers spoke to the group about their current ventures and some words of advice for the journey ahead. Luke Lang from Crowdcube, a crowdfunding platform, and David Sutton, Founder of BagThat.com, gave us words of wisdom around building relationships, being in it for the long-haul and what Entrepreneurship is really all about.
We spent the large part of the next day brainstorming and attending workshops- one which stood out to me was “Idea Generation”, thanks to Matt Clifford and Bay, from Entrepreneur First. The government-backed initiative is proving to be a popular choice for ambitious graduates aspiring to set up their own scalable and high-impact venture. We decided to acquire some customer validation on our new concept (Finally!) and whether we should be fixing our Customer Segment (e.g. personal and social, or business and professional), or fix our Value Proposition.
A trip to Central Working at Google Campus in London led us to meet some interesting individuals, work on our idea some more, and pivot some more. Having a team of seven was, I felt, quite difficult to manage and led to long-periods of stagnation where we couldn’t agree on a microscopic detail. Nonetheless, we also were able to cover more ground when it came to speaking to potential customers. Golden Nugget: Don’t work in big teams if you don’t need to. Be ruthless with who is in your team and make sure everyone has complementary skill sets.
The next day on our trip started off at the London Business School, where an inspiring talk came from the Founder of Flat-club (a peer-to-peer accommodation site based on trust), Nitzan Yudan. If you’re going abroad to study, you might prefer someone who is moving to your university to study for a year to take your room, as opposed to a random stranger. One particular phrase stood out to me: “Time is our most valuable asset, so use your time wisely”. A realisation struck the team from then on.
By the time we arrived in Cambridge, we were still at a loss over our idea, which was particularly frustrating, as I’ve never had to contemplate pivoting an idea at such a late-stage before; our work over the first two days was wasted. In retrospect, it was an immense learning experience. Golden Nugget: Ask the Right questions. You have to make sure that there is NO bias in whatever you ask, otherwise you may as well just ask for an endorsement for your concept.
Before we left Ideaspace, I was sure to add Manchester Entrepreneurs, TechHub Manchester and RightCrowd to the list of “Partners, Sponsors and Attendees at Ideaspace” at Ideaspace. Don’t look at me like that.
We found ourselves en route to Antwerp, Belgium at the quirky yet creative co-working space at the heart of the city, Idealabs. This was the semi-finals and less than 24 hours to go we decided to change our idea completely, break off from the team and form a duo, and come up with some sort of mock-up to show the judges and everyone else. The run-up to Ideaslab was filled with discussions around what to include in our presentation and how best to implement Stock.io (A platform to buy and sell shares easily online).
The two winners out of the FounderBus UK, Time^2 and Spinning Jennie were both great ideas, with a good team behind the both of them. I encourage both teams to continue with the path they are on, as I feel they can generate sufficient interest to further their ventures with added expertise and investment.
An interesting night in Antwerp followed, whereby we had to be on a bus at 4am en route to Paris for the Finals. Meeting other Startup Buses was a major highlight of the entire trip, and meeting those in Europe doing amazing things was an opportunity I couldn’t turn down. Golden Nugget: There is a plethora of talent from around Europe present at these sorts of events- make the most of it and have business cards at the ready.
With the winners of the European StartUpBus competition having the opportunity to present their start-up at Le Web, competition was fierce, but the party atmosphere outweighed any hostility (if any!) between competing teams in the final.
Overall, this was an experience of a lifetime whereby I met a number of extremely talented and ambitious individuals who I’m sure I will cross paths with somewhere down the entrepreneurial yellow brick road. As I’ve already mentioned, there’s nothing like attempting to build a business model and a prototype in a mere few days, while interacting with European counterparts along the way cannot be understated. Talented individuals combined with credible ideas can lead to the opening of a new frontier for innovation and collaborative human endeavor right here in Europe, which we must hone and foster through shared determination for creating a better landscape for us all.