Start-ups need more logic, less magic!

Thursday, 15 December 2016 00:01 - - {{hitsCtrl.values.hits}}

untitled-36111 As part of MTI’s idea2fund, we screened 300 start-up applications and listened to 85 presentations. Here are some key learnings:

Pick your domain based on real ‘pain points’ in the demand or supply chain – not technology looking for a problem!
Get the commercial business model right upfront i.e. how will you make money? – not just hoping for an inflated valuation to flog it!
Fulfilment is what the end user will pay for – technology is only an enabler

If you look at two of Sri Lanka’s successful start-ups in recent times i.e. Kapruka and Pick Me, they have got these basics right.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.

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