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Ideas Worth Chasing

James Alexander
James Alexander

Why are some ideas better than others? What makes a great startup idea? Mike Nicholls, INCUBATE's Resident Entrepreneur runs through innovation waves and problems still to be solved.

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Becoming an Entrepreneur & Ideas Worth Chasing Mike Nicholls Resident Entrepreneur - Incubate Follow me @Mikenicholls88
About Me Built an IT/ISP business & sold it Worked for VCs + HP + Corporate Sales on Comm Only Trade + BBus + numerous Cert 3+4 + Online Courses 35yrs in the workforce inc Defence Forces, Aviation, Finance, Real Estate, Science, Online Video, Launched Numerous Apps & Sites, Medtech + Hardware Launch Startups for world's biggest IP fund Read and research 1000s of inventions Reviewed >300 Startup Pitches/Applications 100+ pitches a month on Startup88.com Mentor at Incubate, CSIRO & occasionally Muru-D & UNSW
Ideas Worth Chasing
It all starts with the Problem Have you identified a burning problem? Does anyone really care? Do you have an insight or strong opinion about the problem?
Can you build a Monopoly? What are the truly great companies that no one is building? Peter Thiel - PayPal Founder
Small Monopoly, Dominate, Move to Next Market Bowling Alley
Great Entrepreneurial Qualities Persistent & Resilient Willing to Experiment & Fail Great Execution Cuts through noise & distractions Has a vision & can work out the steps to get there Coachable yet Independent Committed to the problem yet Flexible about solution
Dont Get Distracted - You Only Have 4 Problems Developing Product Developing Customers Cash Build your team Anything else is a distraction
Traction & growth beats everything else. Spend 50% of your time on user acquisition. Most teams can build a product, Some teams can get product market fit Almost no one gets enough customers to breakeven
Innovation Waves * Chips 50s-70s Computers 70-90s Routers + Internet - 70s-90s Open Source + Web Servers - 90s-now Search 2000s-2020 Mobile + Apps 2008 Messaging On Demand Business + Sharing 2010-? Platforms + APIs 2012-? Robots-UAV 90s-2020 Software Bots 2015-? Biotech - Genes - Health Machine Learning + Big Data + CompVision 2000s-? Food Water *Originally Inspired by Bill Tais 5 Waves
World/Health Problems Clean air is a problem for large parts of the world Clean water is a problem for large parts of the world Disease prevention and detection - Malaria, Dengue, Zika, Ebola Food providence and tracking Solar Energy plants for homes + Developing World Infant Mortality Methods of reducing death from heart disease, diabetes, cancer
Trends & Popular Themes Bots & Apps Software bots are coming, low level workers replaced Messaging/Notification Bots as a Service Notifications and Messaging taking over the role of an App via platforms/backends Non messengering Apps becoming less important. 5- 10% of your apps are used daily
Trends & Popular Themes - Security Security is an Issue - Online, Personal Data, Payment, Company, health, IOT, Email, Comms Blockchain - reduce fraud. control personal data Blockchain verify secure devices
General Business Problems Video meeting apps are broken Support on the web & mobile still sucks. Lead Generation & customer management across Email, Social, Search is broken Meeting Scheduling especially across time zones, organisations is broken Software/Devices not suited to new work pattern ie BYOD and more than one workplaces
Hardware Trends Raspberry Pi Zero - Computers are nearly free GPUs and the software that goes with them VR, Machine Learning & AI & Self Driving Cars/Robots/UAV depends on GPUs VR is mainstream for gaming, apps coming for work IOT is getting tired - Pick your niche very carefully
Drones UAVs UAV/Autonomous vehicles still have a long way to go systems that allow these to interact with each other i.e. collision & avoidance, air traffic control for Drones. Landing and logistics for parcel delivery, security. UAV Long Range Powerplants, Battery Life etc UAV Navigation UAV Flight Operations & Reliability - Almost no one capable of passing CASA or FAA Regs
Systems & Cloud Problems Managing Cloud Apps across private and public cloud providers is difficult Deploying and testing across platforms is a pain Scaling/Managing Performance across multiple services Developer support is terrible Years wasted trying to find correct syntax Solution for security testing Cloud Apps are lacking
Machine Learning + Big Data + Computer Vision ML & Big Data provide insight or action to users via apps, APIs or platforms. Dozens of markets not one Virtual Assistants & Bots Market prediction & trading Route Planning & Logistics optimization Replace inefficient or dangerous work Health - reading ECG, BP real time. Recognition of disease, Malaria, Cancer, blood conditions Security
Get Started Apply for Incubate Be an Intern Start some side projects

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Ideas Worth Chasing

  • 1. Becoming an Entrepreneur & Ideas Worth Chasing Mike Nicholls Resident Entrepreneur - Incubate Follow me @Mikenicholls88
  • 2. About Me Built an IT/ISP business & sold it Worked for VCs + HP + Corporate Sales on Comm Only Trade + BBus + numerous Cert 3+4 + Online Courses 35yrs in the workforce inc Defence Forces, Aviation, Finance, Real Estate, Science, Online Video, Launched Numerous Apps & Sites, Medtech + Hardware Launch Startups for world's biggest IP fund Read and research 1000s of inventions Reviewed >300 Startup Pitches/Applications 100+ pitches a month on Startup88.com Mentor at Incubate, CSIRO & occasionally Muru-D & UNSW
  • 4. It all starts with the Problem Have you identified a burning problem? Does anyone really care? Do you have an insight or strong opinion about the problem?
  • 5. Can you build a Monopoly? What are the truly great companies that no one is building? Peter Thiel - PayPal Founder
  • 6. Small Monopoly, Dominate, Move to Next Market Bowling Alley
  • 7. Great Entrepreneurial Qualities Persistent & Resilient Willing to Experiment & Fail Great Execution Cuts through noise & distractions Has a vision & can work out the steps to get there Coachable yet Independent Committed to the problem yet Flexible about solution
  • 8. Dont Get Distracted - You Only Have 4 Problems Developing Product Developing Customers Cash Build your team Anything else is a distraction
  • 9. Traction & growth beats everything else. Spend 50% of your time on user acquisition. Most teams can build a product, Some teams can get product market fit Almost no one gets enough customers to breakeven
  • 10. Innovation Waves * Chips 50s-70s Computers 70-90s Routers + Internet - 70s-90s Open Source + Web Servers - 90s-now Search 2000s-2020 Mobile + Apps 2008 Messaging On Demand Business + Sharing 2010-? Platforms + APIs 2012-? Robots-UAV 90s-2020 Software Bots 2015-? Biotech - Genes - Health Machine Learning + Big Data + CompVision 2000s-? Food Water *Originally Inspired by Bill Tais 5 Waves
  • 11. World/Health Problems Clean air is a problem for large parts of the world Clean water is a problem for large parts of the world Disease prevention and detection - Malaria, Dengue, Zika, Ebola Food providence and tracking Solar Energy plants for homes + Developing World Infant Mortality Methods of reducing death from heart disease, diabetes, cancer
  • 12. Trends & Popular Themes Bots & Apps Software bots are coming, low level workers replaced Messaging/Notification Bots as a Service Notifications and Messaging taking over the role of an App via platforms/backends Non messengering Apps becoming less important. 5- 10% of your apps are used daily
  • 13. Trends & Popular Themes - Security Security is an Issue - Online, Personal Data, Payment, Company, health, IOT, Email, Comms Blockchain - reduce fraud. control personal data Blockchain verify secure devices
  • 14. General Business Problems Video meeting apps are broken Support on the web & mobile still sucks. Lead Generation & customer management across Email, Social, Search is broken Meeting Scheduling especially across time zones, organisations is broken Software/Devices not suited to new work pattern ie BYOD and more than one workplaces
  • 15. Hardware Trends Raspberry Pi Zero - Computers are nearly free GPUs and the software that goes with them VR, Machine Learning & AI & Self Driving Cars/Robots/UAV depends on GPUs VR is mainstream for gaming, apps coming for work IOT is getting tired - Pick your niche very carefully
  • 16. Drones UAVs UAV/Autonomous vehicles still have a long way to go systems that allow these to interact with each other i.e. collision & avoidance, air traffic control for Drones. Landing and logistics for parcel delivery, security. UAV Long Range Powerplants, Battery Life etc UAV Navigation UAV Flight Operations & Reliability - Almost no one capable of passing CASA or FAA Regs
  • 17. Systems & Cloud Problems Managing Cloud Apps across private and public cloud providers is difficult Deploying and testing across platforms is a pain Scaling/Managing Performance across multiple services Developer support is terrible Years wasted trying to find correct syntax Solution for security testing Cloud Apps are lacking
  • 18. Machine Learning + Big Data + Computer Vision ML & Big Data provide insight or action to users via apps, APIs or platforms. Dozens of markets not one Virtual Assistants & Bots Market prediction & trading Route Planning & Logistics optimization Replace inefficient or dangerous work Health - reading ECG, BP real time. Recognition of disease, Malaria, Cancer, blood conditions Security
  • 19. Get Started Apply for Incubate Be an Intern Start some side projects