In photo: Responsell team
It’s time to start counting down to Demo Day. Thus in this week’s episode we feature presentations of two teams extraordinaire. Two teams give us an inside peek into their life at StartupHighway, the rest re-caps are coming soon. Read on as I make sure that their bold confidence and optimism will compel you on the spot.
Countdown to Demo Day
Hey, how are you?
Good day. Over the last couple of months we had quite a journey. We joined the accelerator with only an idea of what we would be doing. Today, we have a full picture of where we are going and how to get there. So we should say - we are great.
A team member from the last year Acc’r told me once that his initial reason for coming to Acc’r was a trip to space. He wanted to go to space, take a photo of Earth and tag his all friends. So, what’ is yours?
Our greatest dream is contributing to the development of AI for the business world, so all the boring jobs are done by machines.
What’s the name of your company?
What you do? (product, problem you solve, competitive advantage you have, market you target)
We are developing a proposal management tool for creative industries. Several researches (one of them conducted by us just to prove the situation seriousness) have shown that most sales teams are slow to respond to incoming sales enquiries, thus, diminishing business success; on the other hand, most commercial proposals produced during sales process fall short of addressing specific needs of the client. Automation of most labour intensive tasks in terms of proposal management is our main advantage over competitors and key selling point to creative industries in the UK.
How did you come up with this idea?
As most ideas it all started at a pub. It has a long history of frustration and personal experience in composing or receiving proposals via traditional sources. The idea comes out of a desire to simplify and automate most of the jobs common users dislike and offer a user friendly exceptional tool able to take hassle away from sales process rather than adding to it.
What expectations do you have in terms of expansion and revenue?
Although the initial target market are creative industries in the UK it can be adapted and utilised by any market or segment. The way way we are building the tool allows us easily adapt it to any particular situation. Optimistically we are expecting annual turnover in the range of £150k in the first year, rising to £250k - £400k subsequently in the following years.
What’s next after Demo Day?
Regardless of the outcome of the Demo Day we intend to present the product to the market in the coming months. Demo Day is just one of the investment opportunities we are considering among others (some direct, some indirect)
You’ve been talking with mentors for a number of hours, how was it? Do you have a favorite one?
A number of mentors (or probably better put advisors) gave us the answers we were looking for, but only a few actually stroke the chord and helped us get on the right track. It is pretty difficult to rate any of them against each other, for they all come from different experiences and have different approaches.
Is something you would like to tell to other start-ups?
Be strong, have your opinion, and make sure you know why you are doing what you do and that it really matters to the market, otherwise do something else.