How to convert an Idea to Startup by Chaitali Kshirsagar

A basic presentation on How to convert your idea to startup

1. HOW TO CONVERT YOUR IDEA / INNOVATION INTO START-UP ? By Miss. Chaitali P. Kshirsagar Co-founder and CEO Lakshicon Bio Organics Director, MAESA Foundation

2. What is START–UP ? The process from idea to enterprise/ Businesses .

3. Idea / Innovation : Traditional Idea : Ex- Travel company, cloth shop 2. Innovative Idea /Monopoly : ex- Ola cabs, Electric Bike Old type of business/idea New idea/innovation Or Something different than existing systems

4. Find a PROBLEM that is worth solving. Problem & Solution : Build a SOLUTION to solve that problem effectively in a simple, affordable and reliable way.

5. Different organic products, One platform Example : Problem Solution

6. Prototype : Convert your SOLUTION into actual model i.e. PROTOTYPE Specific : Specify Features of Prototype. Measurable : Approach to convert prototype into a market ready product Attainable : How you are going to achieve the commercialization objective with available resources. Realistic : What kind of skillset of team and resources are required to achieve the goal in specific time period? Timeline : Develop a timeline against the milestones for taking prototype to the commercial level/start-up stage.

7. START-UP : <…> To <…> #1 PROBLEM #2 SOLUTION #3 PROTOTYPE ?

8. Innovative Unique Attractive Product/ Service : Design this solution/ prototype as a PRODUCT/ SERVIECE that is useful for any one who wants to solve that problem

9. Target Groups/ Customers : Identify the Potential Market Size. Fix your Target Group and Target Customers

10. Business: Operate a BUSINESS to manufacture, to sell or to provide service making PROFITS and achieving GROWTH How does your Start-up generate REVENUE ?

11. Idea Enterprise A BIG LEAP !

12. START-UP : IDEA TO BUSINESS #1 PROBLEM #2 PROTOTYPE #3 PRODUCT #4 PROFIT

13. Problem Prototype Product Profit Innovation Entrepreneurship

14. Learning Summary #1 Any problem solving idea/ solution can be refined/ potential enhanced to become a start-up idea #2 Start-up is a scientific and stepwise process to convert an idea into a high growth enterprise #3 Minimum usable prototype, prototype to prove value to the target customers #4 Business = Profit + Growth #5 Managing innovation = Managing Risk