This is the first of a series of posts to help those outside of the HTRLaunchPad classes get a feel for what’s involved. The first class is this Friday and all founding teams have been given a simple task. They must provide a basic three slide PPT deck describing the following:
- The founding team with contact info
- Their idea
- The problem it solves and the market(s) it serves
At this stage the second and third slides are almost certainly educated guesses or attempts to estimate reality. They or may not be correct. The purpose of the LaunchPad process is to provide a framework to help the founders discover whether their idea is viable and marketable, before they invest sums of money and energy trying to build a business around it. It is a hypothesis to be tested, not an assumption to be verified. Many, if not most, will be wrong at this stage. This is not a bad thing.
When the teams come to the class on Friday they will be given 5-10 minutes to present their concept to the group, which will include all the teams, the teaching team and any mentors who wish to attend. I’ll be covering that in another post.
A note about ideas: It seems ironic to me that ideas are often represented by a light bulb going off in the head, a flash of creative genius. Ironic because, as most of you know, Edison didn’t come up with the lightbulb in a flash. He had a hypothesis regarding electricity moving through a filament in a controlled environment. With the correct environment and material for the filament, it would produce artificial light. He then proceeded to test over 1000 materials before discovering the right combination. And he literally changed the world.