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By a raise of hands, how many people have ever been paid to develop a good idea? Kudo’s to those of you that have, but if you’ve not been given that special privilege and you have an idea worth money, BetaFish is here. 

If you’ve ever wasted 3 months crafting an iron clad business plan, only to be smacked with the reality that no one cares about what you’re trying to sell them. BetaFish is here. 

BetaFish is an incubator on steroids. We’re combining the benefits of a Coworking space (community, collaboration, openness) with lean startup methodology, to connect smart and talented people to investment opportunities faster than ever before in Delaware.

The idea is to find five, 2 person teams with a super cool tech idea; pay their living expenses for 90 days; give them space at coIN to build their “widget” and collaborate; and also provide the opportunity to pitch to accredited Angels and V.C’s when completed.

Organizations like Y-Combinator in California, DreamIT Ventures in Philly, andTechstars in Boston, are killing it right now. Coworking spaces like Gangplank,IndyHall, and The Factory, all have an steroidal incubator too.    

I’d like to assume you already know what Coworking is, so I’ll briefly explain what lean startup methodology is all about.

Eric Ries is the grandfather of the term lean startup. He’s a 31 year old engineer,entrepreneur and blogger. The principles of the methodology are based on the lean manufacturing process, which was made famous by Japanese factories decades ago. The thought behind the methodology is to reduce waste, increase manufacturing efficiency, communicate with consumers to better understand their needs, and thus provide better value in a shorter period of time. BetaFish is no different. We’re all about building more and BS’ing less.

The Lean Startup process makes entrepreneurs focus 100% of their efforts on completing tasks that are absolutely vital to the progression of the idea. Traditional incubators teach startups how to write business plans, when in actuality, startups don’t need a business plan…they need a scalable, and repeatable business model. They need to focus all of their time on product and customer development. They need to rapidly test, fail, learn, and build new ways to generate money from day one so they can afford to perfect their products as customers give feedback.

There are 3 stages to the Lean Startup process:

• Customer Discovery: Ideation (You’ve found a problem. How do you solve it?) 

• Customer Validation: Who will Pay? (You’ve started building a solution, but who will actually buy it? Why?)

• Customer Creation: Growth (Products a hit. People love it. How do you sell more without going broke?)

Our 90 day program will lead participants down a straight and narrow path from idea-to-marketplace. We’re providing them with every resource they’ll need to formalize their idea, incorporate, set up their books, solidify their marketing plans, acquire early adopter consumers, build a scalable product, and connect with investors willing to invest. The only requirement we ask of our participants is that they are fully committed to nothing else, but building their product and perfecting their business models, as well as, working at coIN 3 days per week between Monday and Friday.

When all goes well, we’ll be kicking out 2-3 funded companies every 90 days! Delaware will truly never be the same!

Stay tuned for more information.     

Posted via web from Wes & Steve are The Dumb Kidz?