entrepreneurship

I've noticed children are often the inspiration behind learning technology start ups. My son is what inspired my vision for an innovative learning technology. A problem is just a problem until it affects your personal life, then it becomes a problem that needs fixed. It can be a strong motivator. I also think it is significant that he piloted his app to demonstrate its potential value and scalability before asking for a larger investment. In other words, a Minimal Viable Product is a quick and effective way to find out just how promising your vision is.

Yes, I would invest in this venture. The company’s hook that it “develops toys to help kids learn about the world through technology and play” makes it clear what the venture is about, its vision, and the potential for future products. The pitch focuses on the importance of skills development such as problem solving at an early age, while the product itself is a tool for developing those skills. This means several viable products can be developed with that overall goal in mind, as opposed to be limited by the success of a single product. The pitch also addresses a large potential market for the venture's products by mentioning that kids as creators of technology, and not just consumers, is “the new normal.” The ask in the pitch video is $110.00 or more to “help kids find their innate ability as digital creators,” which gives investors a Complete Dough Universe kit and their name in the app’s credits. Daniel and Bethany, the founders who are pitching in the video, are engaging and appear genuinely passionate about helping children develop their creative and scientific skills.

YES, I would invest in this venture as CO.LAB is promoting a mission that is long-lasting with far-reaching effects. Rather than a single product, the money invested will go towards maintaining a space that breaks down entry-barriers for marginalized groups. This pitch successfully taps into our empathy (“Making is the great equalizer because we are all intrinsically curious…but not everyone has access to this table”). By backing this project, investors are aligning themselves with these ideas. Examining the overall design of the video, it is very well done, from the narration, to the video clips of children and adults—“innovators of colour”—utilizing this space.

+ Pain Point: Due to systemic inequality, marginalized and underrepresented groups get limited opportunities to explore STEM topics and express their ideas, and as such, less opportunities to pursue entrepreneurial endeavors.
+ Solution: CO.LAB aims to break barriers with their makerspace where “women, people of color, the LGBTQIA+ community, and the economically disadvantaged” can have access to STEM equipment and materials for free.
+ Differentiation: What sets this kickstarter apart is that the focus is not on TOOLS for makerspaces, but rather on the SPACE itself. The space will remain free for its end-users.
+ The Ask: CO.LAB already has the building, the equipment, and the people to run the programs; CO.LAB is asking for $25,000 to help cover one year’s worth of rent.

REVIEW: Hi Scott, I really enjoyed your both your elevator pitch and venture pitch. I thought your elevator pitch was concise and as a potential investor, I had a clear understanding of the problem you saw in the market and how your product helps to solve the problem in addition to what value your product brings to the table. Looking at your venture pitch, I think we had similar ideas in terms of creating curated repositories of information already available on the web. Your product adds an additional component of artificial intelligence to help refine the recommended videos presented. Your business acumen is apparent as you outline how your product will be marketed and provide case studies to that the investor can really understand how your product fits into the existing market. I also liked how you understand that you are looking for "smart" money and that you acknowledge that you don't have all the answers. Entrepreneurs that acknowledge the help that they may need are ones that I would look more favorably upon.  All in all, a very well done presentation. Congratulations.  I would invest in this enterprise! Christopher Wong