The Launchpad program is built on a couple of basics: An idea as a starting point and a team of two or more founders to work on that idea. We know that it is not unusual to have one or the other. A team in search of an idea and an idea in search of a team. It’s a given that savvy investors invest in people more than ideas. The HTRLauchPad team knows that we’re likely to be playing matchmakers as it is a requirement of our program that you enter as a team rather than an individual. If we meet two people without founding partners we may try to match you up- if there is an idea you can get excited about.
Paul Graham, founder of Y-Combinator, has a great post on finding ideas called How To Get Startup Ideas. It is aimed at helping great teams find that great idea:
“The way to get startup ideas is not to try to think of startup ideas. It’s to look for problems, preferably problems you have yourself.
The very best startup ideas tend to have three things in common: they’re something the founders themselves want, that they themselves can build, and that few others realize are worth doing. Microsoft, Apple, Yahoo, Google, and Facebook all began this way.
Why is it so important to work on a problem you have? Among other things, it ensures the problem really exists. It sounds obvious to say you should only work on problems that exist. And yet by far the most common mistake startups make is to solve problems no one has…”
Read the whole post (and the rest of his blog!)