Venture Lab Technology Entrepreneurship OAP 2012 Stanford University

1. Opportunity Analysis Project
Venture Lab Technology Entrepreneurship OAP 2012
Stanford University

2. Is the idea worth pursuing?
● The Idea
● Market size
● Hypothesis
● Experiments > Surveys
● Results

3. The Idea
Solve the world's problems faster, smarter and more
efficiently.
A new concept meant to bring
innovation, education and
market opportunities together.
A one-stop collaborative
platform aimed to enable smart
and creative minds from around
the world to come together,
collaborate, complete and
implement innovative projects.

4. Market estimation
● Innovation is a key factor in all industries. For our specific
product we considered the market potential of at least the
following industries:
● technology (IT, web, mobile, t-com, health/medical devices,
engineering, alternative energy/sustainable)
● robotics
● food / agriculture
● health (non-pharma)
● finances
● scientific research (physics, chemistry, biology, etc.)
● transportation
● home appliances

5. Estimated market value
Global > over 1 trillion $
If innovation accounts for ~0,1% of
that, than we have a ~ 10 billion $
estimated market value

6. Market share
● Assuming 1-2% of those innovations were
generated through NovigoLabs, the potential
market share would reach 100 million dollars
● Sizing it down to 50% to eliminate various risks,
still leaves Novigo with an estimated market
share of 50 million dollars

7. Hypothesis
● One of the main „pains“ associated with
innovation is ISOLATION.
● Innovators need to get in touch with peer
innovators in order to expand their horizon,
learn of and from similar efforts and gain
access to wished-for resources.

8. Experiment
● Extended the original survey by including more
open questions, as for example:
● Is there anything in particular you would expect
from such a platform to offer?
● Is there any specific feature you would expect such
a platform to offer?
● Are there any reasons why would you not want to
join such a collaborative platform?
● Anything we forgot to ask but you consider as very
important and would like to share?

9. Experiment - Results
● The experiment confirmed users' readiness to
share their knowledge, contacts and resources
with new people and their willingness to go
beyond the trusted of environment of family and
friends and reach out to local, national or
international communities.
„It depends on the help needed, but mainly yes, because I
have similar idea in my mind and I think this could be a really
valuable platform“

10. Experiment - Results
● Someone working in the education sector
shared with us:
● „As I already said, I think this is a good idea, no one
can develop a great idea being alone. It's much
easier to do that in like-minded groups“
● The platform will lose in attractivity though if not
enough ideas / resources are submitted.
● Moreover, it resulted that people trust
corporations less for participating in the project
as oposed to small / mid-size companies, local
communities or even governmental programs

11. Conclusion
● Based on what we've learned from this second
survey, we should not count to much on
corporations for participating in the project but
rather consider to enter partnerships with
government programs, local communities and
promote the platform among the small / mid-
size business