Addressing the Gaps for “Crossing the Chasm”
Pakistan’s nascent ventures eco-system faces several challenges gleaned through years of working with innovators, founders, startups, and ventures. These include, among others:
- Ideas not “good” or innovative enough,
- No working prototype (or too much technical risk)
- No proof of concept (or too much commercial risk)
- Lack of a commercial entity or team
In order for the venture eco-system to succeed, each of these gaps need to be filled and challenges addressed.
Economists (and Entrepreneurs) often talk about crossing the chasm – a so called valley of death – that separates launching of a product or service and its widespread adoption by a large enough number of customers to validate it.
However, in Pakistan, as in other “low trust” societies, there is an even bigger chasm that every first-time entrepreneur must face even before s/he launches a product or service for adoption.
S/he must face a “credibility test” which can only be aced if s/he is able to validate the idea through proof of commercial concept and establish personal credibility to convince an investor to bet on it.
INNOVentures is a Venture Acceleration Platform that seeks to address these challenges and push an idea through the Ideas to Value Continuum through a structured process of curricular and hands-on learning, mentoring, and doing.
The 5-Month Accelerator Programme bridges key deficiencies to enable early stage investing through the validation of both the idea and the entrepreneur by:
– addressing weaknesses in prototyping and productisation and proof of commercial concept and go-to-market strategy through a rigorous and structured programme;
– validating and testing the character and grit of the idea champion/founder to ensure they are battle-ready before they pitch to the investors.
INNOVentures Global especially focuses on Professionals and University Faculty through an intensely hands-on, structured, and mentor-led process that reduces techno-market risk, establishes founders’ credibility, and increases the probability of long term commercial success.