Mentor Tim Feedback : Neptune NeptuneNeptune is a system to help telecom companies monitor fuel level in BTS site generators. Neptune features a hardware unit that is installed on each fuel tank and a web application to display a map showing fuel levels on different BTS sites on the map. This will help BTS operators better check the status of their sites. Team observation: The Neptune team had their heads down all weekend and worked impressively hard at executing their startup idea. I approached this team once or twice but sensed I was merely interrupting their workflow with my presence; my assistance wasn’t that necessary to their success. Clearly I was right because this team won Startup Weekend, congratulations Neptune! Again this was one of the few teams that reached the performing level of group dynamics and when that happens, anything is possible. Challenges: Customers. In the presentation you limited yourself to telecom companies only. I can see the Neptune solution being applied to other markets – anybody that has a diesel generator will find Neptune useful. Running out of backup diesel generator electricity can be disastrous for some industries – banks, hospitals, cold food storage for example. Neptune can prevent a potential catastrophe. Basing your target market on such a tight vertical can be very limiting. You have identified 3 or 4 main customers for your product, telecom companies here in Sudan. What if they all say no to your idea? Can your startup survive? Another challenge I can see for Neptune is competition. I just did a quick Google search for ‘remote fuel level monitoring’. There are already several companies that are providing a similar product to what you’re proposing. This in itself is validation – there is a pre-existing market and somebody is already making money. You will have a cost advantage over these competitors though because of your geographical positioning, but will this be enough to sustain Neptune as a startup company into the future? Final thoughts: Use the momentum of Startup Weekend and get that first customer as soon as you can. Get a contract signed. And don’t just sell the product and forget about it, add a long term service plan into the deal. Annual or biannual equipment checks and maintenance add to your revenue stream, you should be thinking 5 years ahead. Your financial projections over the next 5 years should incorporate an R & D budget so you can continue delivering clever new products that solve real problems. Neptune Team Mohammed Haider Ibrahim (Designer) Mustafa Abdelhaleem (Developer) Hussam Eldeen Hassan (Business) Aymen Mekkawi (Designer) https://facebook/NeptuneIOT timgardner.info/swkhartoum-team-feedback/
Posted on: Sun, 23 Nov 2014 09:21:18 +0000
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