Innovation comes from small companies, most of the time. Small companies also generate most of the employment. So it is important to foster young startups and let them grow easily. The problem is that most of the innovations that drive new companies have a very short life span; they die even before a company is founded. Or innovations die in startups because of execution and sales failures. The risks of failure of startups are substantial. How can we decrease those risks?
Inventor or entrepreneur?
Incubators and accelerators help startups to get through this difficult period in their life. But selecting teams with good ideas starts with the assumption that the team is fixed. And that is not always the case. Good inventors are not always good entrepreneurs. Good inventors are often very good in one thing: inventing something new. But that is not what a startup needs, a startup needs a team that can execute the idea, adapt to get a good market fit, produce it and sell it. The most important success factor of startups is the quality of the team. Good entrepreneurs can turn about any good idea into a success.
Starting with people
That is the reason that StartupPush has started an incubator that takes a different perspective. Instead of selecting existing startups, StartupPush selects individuals, gives them intensive training and forms teams around high potential and scalable ideas. The teams develop the idea into a product with a good market fit by means of customer development: validation of the idea by many interviews with potential customers and adaptations. They develop a minimal viable product and turn that into a minimal sellable product. If the product can be sold and all members believe the startup becomes a success, a new company is founded. The team members get the majority of the shares. StartupPush stays on board and helps to make the startup a success.
The advantage of this approach is that people are added to a promising idea, instead of helping people with a promising idea. The StartupPush approach is based on creating teams that can make any good idea into a success.
Increase the probability of success
We believe that these startups have a higher probability of succeeding. Of course we hope the startups become huge successes. But even if a startup fails, or if the team does not even get to the point of founding a startup, the members will have had the valuable training experience. They look at the world in a different way. They see more possibilities, more opportunities and are more flexible in working in teams and in creating favorable outcomes for themselves.