Connect Series - Masterclass on MVP Refinement, GTM Strategy, and Initial Traction and Investment Readiness for Incubator Startups

IvyCamp hosted a series of masterclass sessions led by Alumni from IITs and IIMs for startups in the MVP and early growth stages, providing them with targeted insights on their MVP refinement, go-to-market strategy, and Investment readiness.

Key Takeaways

MVP Refinement by Mr. Niket Agarwal, CEO and Co-Founder of MeraPashu 360 and an Alumnus of IIT Madras.
- Suggested three MVP testing methods:
  - Landing Page MVP: Gauge consumer interest via a dedicated landing page.
  - Explainer Video MVP: Use a video to illustrate product value and functionality.
  - Wizard of Oz MVP: Create the illusion of a fully functional product, relying on manual processes behind the scenes.

GTM Strategy and Initial Traction by Mr. Anand Dhutraj, Academician at N.L. Dalmia Institute and an Alumnus of IIM Bombay and IIM Calcutta.
- Importance of demonstrating traction to show market gap, boosting investor confidence.
- Recommended using market research firms or conducting surveys to gather insights on competitors and user pain points.
- Identifying a problem before seeking solutions to avoid wasting time.

Investment Readiness by Mr. Puneet Suri, Managing Partner at Asisa Advisors and Founder of VCIFY and an Alumnus of IIM Ahmedabad.
- Emphasized thorough research on investors:
  - Analyze their portfolio for competitors and relevant sectors.
  - Understand their average ticket size.
- Highlighted the significance of opportunity cost for founders (e.g., leaving a high-paying job)
- Noted that services can create predictable cash flows, citing Apple's 17.5% profit margins from services.
- Advised against jumping to solutions, noting that perfect solutions don’t exist.
- Stressed the importance of considering global expansion from day one, focusing on optimization, resource allocation, and strategic decision-making.