Idea factory

2022-09-04 10:37:12 #WeeklyContest #Voting

The Voting Ends Today at 15:00 UTC

Hurry up to influence the outcome of the weekly competition by voting and reviewing via @IF_vote_bot and our chat.

The points will be summarized to determine top 3 startup ideas. The winner will get $350 for the development of their project!

Good luck to everyone! Open / Comment

2022-09-03 20:20:09 ​#StartupStories
Lingumi: Smart Language Teaching for Kids

It's no secret that knowledge of foreign languages contributes to one’s career success. Therefore, many caring parents strive to teach their child a foreign language from an early age.

Idea

Lingumi is an application from the UK for learning languages for preschool children. Its main feature is that the whole learning process is gamification-based and specially designed for children from two to six years old.

Lingumi's curriculum is based on research from the Oxford’s University and aimed at memorizing vocabulary and grammar.

Background

Before founding Lingumi, Toby Mather studied languages at Oxford and spent a year teaching English to children in Russia and Italy. Back then, he met his future partner Adit Trivedi who was a computer scientist from the University of California. None of his family spoke English, and he well understood the issue of learning languages.

While teaching, Mather noticed how difficult it was for children after 6-7 years to acquire new languages. Scientific supervisors explained this by the fact that language skills are better developed in preschool children. To learn foreign languages, a person needs to have many synapses — neural connections in the brain.

Up to 6 years old, the baby's brain is like a sponge — it quickly absorbs information. But, when a person turns 6 years old, their brain literally begins to cut off synaptic pathways that are not used.

In 2016, Mather and Tricedi managed to launch a program of a fun and playful learning for children from two to six years old.

The first prototypes were made of paper and tape and tested in kindergartens all over London. The founders created a set of "learning cubes" that interacted with a tablet or smartphone to teach sounds, words, and even phrases.

Surprisingly, the children had fun: they began to confidently repeat and memorize words in new languages, for example, in Chinese, which they had not previously used in teaching. Parents were happy to buy a toy for their child.

In two months, the company succeeded to release 35 new versions of the beta application. The educational toy was constantly improved and supplemented.

Achievements

Lingumi's mission is to make learning English effective, accessible and fun for 500 million children. Over the years, the company gathered a professional team of 14 people and invested over 1 million pounds in research and development.

Now it continues to keep prices at an affordable level for most parents and has
more than a hundred fun games in its arsenal.

In addition to the application, Lingumi sells physical training products such as game cubes (interactive foam cubes) and huge word cards (large colorful training cards containing more than 70 verbs and nouns).

In recent years, the number of families who used Lingumi with their children has grown from 5 test families in Germany to 50,000 worldwide. Currently, the startup is going to scale its platform to new global markets.

What do you think helped the company succeed in the abundance of EdTech startups? Comment below Open / Comment

2022-09-03 17:40:37 #Expertise #WeeklyContest #Voting

Second Startup Analysis of This Week

This time Leon Rebelsky is giving an insight into the idea of Emergency Response Tracker by Kyei Cundy Nameless Flex.

Does the expert consider the project promising? What advantages and shortenings are there? How can the founder make things better?

Check out the new video to learn!

And comment in the chat what you think of this startup Open / Comment

2022-09-02 16:42:01 #WeeklyContest #Voting #Expertise

First Startup Review of This Week

Today our regular expert Leon Rebelsky took a closer look at the idea of MATSPACEMALL by Francis Bestman Isugu @fftv75_mentor.

Not only has he shared a general impression of the idea, but also revealed its pros and cons. In addition, Leon split a handful of tips on how to improve things!

Check this out and text in the chat what you think of this startup Open / Comment

2022-09-01 20:51:40 ​#Advice
5 Tips from Successful Entrepreneurs: How to Be on a Roll?

Jordan Silbert, the founder and CEO of Q Mixers, the premium brand of cocktail mixers:

"The start of a real business is always a long and difficult path, so it’s better to learn to enjoy it right away.

In fact, you should be able to have a good time and make it a priority for yourself and your team. I realized that the most serious risk faced by businesspeople is the desire to give up when the game is not worth the candle.

Over time, things only get more complicated and take more time than it seemed at the very beginning. However, if you are willing to move forward for a long time, you will inevitably win. So think about how to make this journey exciting."

Casey Gerald, the founder of MBAs Across America for helping entrepreneurs:

"The first Christian borrowed half of the book from Judaism. The founding Fathers stole ideas from the British, Romans and Enlightenment philosophers. Even The Beatles stole ideas! If it was natural for Jesus, George Washington and Paul McCartney, then why can’t you do the same?

When you're trying to squeeze something out of an idea or your team, don't waste time reinventing the wheel. Use time-proven mechanisms to come up with something brand-new."

Justin Borgman, the CEO of Starbust and founder of Hadapt, a cloud-computing startup:

"As an aspiring entrepreneur, you will have to realize from the very beginning that there will never be answers to all questions. In fact, most often you will not even understand what questions you should ask.

But that's okay, because that's how you learn everything. If you approach the creation of a company from this perspective, you will always be able to admit mistakes and take them as valuable lessons, not losses. Believe me, there are hundreds more such lessons waiting for you on the way."

Sander Daniels, a co-founder of Thumbtack, a startup for job-seekers:

"I never wanted to be an entrepreneur. But when my friends were setting a company they asked me to join. I almost missed this chance. At the last minute, I made a decision that opened up a whole world of professional self-realization to me, and I didn't even know about it.

I regret being so conservative at the beginning of my career. Otherwise, I would have taken advantage of these opportunities long ago. I was unaware of the secret benefits of risks. But it was a reckless decision that radically changed my whole life — both personally and professionally — for the better. Taking the chance and founding the company was the best choice in my life."

Rand Fishkin, the CEO of SEOmoz and a leader in engine optimization tools:

"It's very simple: make a list of several people you want to meet, send them a sincere email asking for advice. Repeat this ad infinitum. Some people may ignore your letter, but you will be surprised how many celebrities will respond to it and be ready to give a hand.

Persistently send thanks to everyone, stay tuned and contact people at the right time. Be honest and offer help if possible. Some conversations may lead to nothing, but most will be fruitful. Others will not be helpful immediately, but after a few months or years they might bring some benefit."

Which tip do you find the most valuable? Why? Comment below Open / Comment

2022-08-31 15:19:41 #InterviewIF

Fresh Interview with an Idea Factory’ Entrepreneur

Lately, we’ve had an interesting talk with Zy Taga @zytaga about his EdTech startup BrainCheck.

In the interview, you’ll learn what makes the company a unique project, how Taga is going to develop it, and what he advises to other entrepreneurs.

Check this out! Open / Comment

2022-08-29 18:01:24 #Voting #WeeklyContest

Dear all,

The voting has just started

Be sure to submit your votes and reviews via @IF_vote_bot and our chat! This way you can determine the winner of $350 and get points that can be further converted into valuable prizes

The end of the voting — 4/09/22

We’ll summarize the points from both VoteBot and chat to determine top 3 candidates.

Good luck to everyone! Open / Comment

2022-08-28 17:28:25 ​#StartupStories

Bollant Industries: How a Blind Man Set up a Corporation to Help the Disabled

Srikanth Bolla is an Indian entrepreneur and the first international blind student in Management Science at Massachusetts Institute of Technology. He founded Bollant Industries to employ physically challenged people and purify the environment.

Not only has the company created important social impact, but also brought around $15 million of annual revenue. This is a fantastic story that actually happened to the Indian dreamer.

Childhood & Studentship

Bolla was born visually impaired in Andhra Pradesh in 1992. His family was destitute and mainly dependent on agriculture. At the age of 12, Bolla wanted to study science was not allowed to do it. After receiving a permission, the boy became the best in his class.

Because of his blindness, Bolla was refused to enter the Indian Institute of Technology, where he wanted to study engineering. But the guy didn’t give up and enter the Massachusetts Institute of Technology, becoming one-of-a-kind.

Career

In 2011, Bolla launched a Braille printing machine providing educational, professional, financial, and rehabilitation services to students with multiple disabilities. Its aim was to ensure them economically independent life.

In 2012, the entrepreneur founded Bollant Industries for making areca-based products and providing disabled people with working places. The company solves a complex of problems, from employment and economy to ecology and social impact.

It produces environmentally friendly recycled kraft paper from household waste or contaminated paper, as well as disposable products from recycled paper. Bollant Industries also recycles plastic waste into usable products.

The eco-startup has displayed exceptional growth, averaging 20% per month since its launch, and reached the worth of £42 million.

Soon, Bolla became the director of the Surge Impact Foundation established in 2016. The organization aims to help individuals and institutions in India to achieve the 2030 Sustainable Development Goals.

In April 2017, Bolla was listed by Forbes magazine as one of the Asian billionaires under 30, being one of the three Indians there.

Achievements

Bolla became the Entrepreneur of the 2015 Year according to NDTV and received Emerging Leadership Award from ECLIF Malaysia. In 2018, he won the main prize in the field of small and medium-sized businesses in the view of Young Change Maker Award. On top of that, Bolla took the second place at the Indian scientific congress.

What do you think helped Bolla succeed? Do you believe success is achievable for everyone? Comment below Open / Comment

2022-08-28 14:00:15 #PitchYourIdea #WeeklyContest

MATSPACEMALL by Francis Bestman Isugu @fftv75_mentor

Vote/Review - @IF_vote_bot

Pitch Your Idea - @StartupPitchBot

Discuss in the chat - https://t.me/ideafactorychat Open / Comment

2022-08-27 16:14:42 ​#Films

Top Movies on Innovations

Throughout centuries, people have been creating new things, from a wheel to artificial intelligence. But what makes them reimagine reality and bring innovations to surface? The following films reveal the background of creatively gifted people and their mindset. Grab some popcorn and get some doze of inspiration!

We Live in Public (2009)
Genre: Documentary
Country: the USA

The genius director Ondi Timoner exposes the essence of innovation in his own way, showing how a person can predict the future. The plot is centered around the Internet pioneer Josh Harris and his project "Quiet: We live in full view of everyone."

After establishing the first TV network and gaining fame, the entrepreneur decides to experiment on his own life. Josh's life started to be recorded on camera, broadcasted and discussed on the Internet, which brings him a huge profit.

However, the violation of privacy ultimately leads to the destruction of his relationship and even loss of sanity. However, Josh predicts that every minute of our lives could be tracked online, long before it becomes a reality.

The Hudsucker Proxy (1994)
Genre: Comedy/Drama
Country: the USA

This is a from-rags-to-riches story of a naive young man Tom Robbins. Experiencing ups and downs in his career, he shifts from the mailroom to the executive suite. How? Suddenly, Robbins invents and puts into production a hoop "Hula Hoop", which becomes incredibly popular in no time and brings in unprecedented profits.

Once the entrepreneur becomes the subject of an investigation by a young journalist Jennifer Jason Leigh, who starts to work as his secretary. They get closer, but the contradictory actions of the girl and the machinations of the director board result in Robbison’s despair. His career crumbles and he even makes a suicide attempt. But, suddenly, a miracle happens.

The Internship (2013)
Genre: Comedy
Country: the USA

The movie reflects many shades of the innovation, including Google's corporate culture and values. It also teaches you important lessons about aspiration, desire, the role of outsiders, and teamwork.

Two best friends and experienced salesmen, Billy and Nick, are fired because of the global computerization. Then, the guys decide to enter the digital age and look for a new job. Surprisingly, they find a vacancy in Google. But to get this job, Billy and Nick have to bypass a handful of IT geniuses. How are they going to make it?

The Call of the Entrepreneur (2007)
Genre: Documentary
Country: the USA

This film walks us through the stories about a banker, farmer and refugee from communist China. These hardworking entrepreneurs overcome all adversities in innovative and creative activities. Sometimes every modern businessman needs a little jolt of inspiration, even when failure may be right around the corner.

The documentary traces Brad Morgan's path to farming, describes the struggle with the owners of a multimillion-dollar dairy company and a fertilizer enterprise. It also shows the way a businesswoman comes up with an idea of a financial engineering system and implements it.

Finally, we see Jimmy Lai’s career path, from his Chinese childhood to the establishment of a retail chain. Throughout the plot, the character explains what entrepreneurial risk is and how it can help you grow.

Which movie have you watched or would you like to? Comment below Open / Comment