- Venue: iHub
- Date: Friday 12th August 2011
- Starts: 8:00am
- Ends: 9:00pm
The cost of launching a web and mobile business or creating a new product is decreasing. That lowers the entry barrier for startups, which is great for entrepreneurship. On the flip side it increases competition for entrepreneurs, so building a product and getting it live doesn't guarantee automatic success. 90% of startups fail and it's not because of lack of technical capability, there just aren't costumers or market for it. The problem, they were solving turned out not to be a problem or it was too insignificant for people to pay for it.
This is what the IPO48 events address - we push entrepreneurs towards market reality to validate their ideas. This is done by exposing the entrepreneurs idea online to a crowd of business professionals, mentors and consumers who challenge them before the event kicks off.
During the event the entrepreneur needs to convince potential team members to join him to build a prototype, and experienced mentors will push his team to create a viable business model. It's intensive and rewarding for the entrepreneur, and the energy at these events cannot be described - it has to be experienced!
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