elements of open data startups
Post on 19-Oct-2014
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DESCRIPTION
Startups have clarity of purpose, is a painkiller, address a large market, have identifiable customers, take a contrarian path, and put technology at the heart of the companyTRANSCRIPT
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Open Data startups
@heri
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What’s a startup?
• For-profit
• Technology based
• With a unique unfair advantage
• Not limited to geographical boundaries
• Scalable, hockey stick curve growth when product-market fit
• e.g. : airbnb, kickstarter, square, songza
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Challenges
• Raw data, sometimes not in a machine-readible format
• Open data often related to a country or a city. Hardly scalable
• Open data available to all, low barriers to entry
• Often related to government services
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Elements of an open data startup
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Clarity of purpose
• Lots of noise in open data. Large diversity of apps
• Be able to summarize what you in the back of a business card... WITH LARGE LETTERS
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Painkiller
• Think about delivering something amazing: pick one thing that is a burning importance to a customer (painkiller) then deliver a compelling solution
• Can processed open data solve an existing problem?
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Large markets
• Address big existing markets ready for rapid change. A market with a $1 B potential allows for error.
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Customers
• Is there anyone willing to pay?
• Listing a few people who pay a premium for your unique offering is a good first sign.
• Often, open data apps can’t identify customers
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Think differently
• Challenge what’s existing and take the contrarian route.
• Idea: offer for free what’s sold by existing companies for a high price
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Technology is key
• Spend only on great engineering. Be very frugal on everything else
• Focus on stealth and speed of iteration
• Open data ideas: build superior intelligence and integration with other services
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Outlook
• very few startups -- land grab!
• lots of interest and “sympathy capital”
• Wealth of data previously unavailable
• Being able to improve society