Oct
3
2014

Startup Bootcamp Health Recap

Startup-Bootcamp-HealthLast Friday I had the chance to attend a one day “Startup Bootcamp” workshop at Jump Trading Simulation & Education Center. It was free to attend, but don’t be fooled.

The speakers were great and the knowledge they shared was useful, and therefore, valuable. I will share with you a couple of nuggets that each speaker gave away, but not all of the nuggets, because next time I expect to see you in the crowd!

Ravings from an Innovation Junkie

Yangmin Shen is the Director of Innovation Development at Motorola Solutions, Inc. I had a brief chat with him before the event began.

I asked him what he does for fun. He mentioned photography and told me that he used to spend a lot of time automating his house, until products in the marketplace caught up to his sophistication and it was no longer worth his time to continue doing it. (Far out!)

Yang’s nuggets:

  • entrepreneurship is a terrible “get rich quick” scheme, as it typically takes 2-7 years for results, and nothing is guaranteed

  • know your competition, and understand that status quo is a formidable competitor

Startup How To Pitch & Customer Validation

Amy Lambert is cofounder and director of entrepreneurial learning at Startup Peoria, among other things, and gave two presentations--pitching and customer validation. Both presentations were insightful and helpful to starter uppers.

Amy’s pitching nuggets:

  • have three pitches ready for different situations

    • a clear and concise 1 minute elevator pitch for everyday situations

    • an exciting 5 minute pitch for competitions and for people who show genuine interest

    • an informational, data-heavy 20-30 minute pitch for fundraising situations

  • know your ask!

Amy’s customer validation nuggets:

  • segment your customer groups to understand deeper issues

  • identify your early adopters and LOVE THEM

Startup Minimal Viable Product

Jake Hamann is CEO and President of OneFire Media, as well as cofounder of Startup Peoria and president of the board of directors. Jake spoke about MVP. Calm down, sports fans.

In this case, MVP refers to minimum viable product. The goal of the MVP is to release the smallest feature set for the purpose of customer validation.

Jake’s nuggets:

  • use your early adopters as a resource and try to achieve a tight feedback loop, so iterations of your product get better, faster

  • go ugly early--quality UX/UI is a luxury at this stage

  • try shipping only what people will pay for

Innovation at Jump

A handful of Jump Sim’s administrators talked about the cutting edge techniques they are developing with new technologies, the future of healthcare, and medical device product commercialization.

If you are reading this, then you may already know what a gem Jump Trading Simulation & Education Center is, and how lucky we are to have it in Peoria. Be sure to follow their progress via social media and keep an eye out for community involvement opportunities!

On another note, we had this event in place of Startup Weekend Medical, which did not reach its goal of registrants. We are, however, planning our next one for November, because we’re entrepreneurs and innovators. We will build, measure, learn...and repeat.

If you were unable to attend, most of the sessions will be available on the Jump YouTube channel later. Be sure to follow Jump on Facebook, Twitter, and LinkedIn to be notified when each video is available!

Categories: Events, Peoria, IL (PEO)