Push

Questions 

1) In your experience, what do you think is the biggest advantage your startup gained from participating in incubator programs?

2) As game designers and developers we are often producing non-essential items. Having a premium device and service, what advice did you receive from participating in an incubator program that helped position your product in the marketplace?

3) How did your business transition from grant funding to approaching seed and angel investors for further funding?


Visit

On friday our class visited the MaRS startup incubator building. During our visit, we first met with Mike Lovas of Push; a startup company who developed a wearable device for professional athletes and trainers. With the team at Push, Mike took the concept for the device to the Jolt incubator program housed in the MaRS discovery districts co-working space, the MaRS Commons. With the support of Jolt’s startup development resources the company continued to develop Push’s physical and digital applications.Having solidified the hardware, Push wishes to further expand it’s market penetration by focusing on Push’s different software applications on both mobile and web. Mike discussed the businesses funding progression having started with crowd source funding, follow by government grants, and finally connecting with venture capitalists to find seed funds to sustain their business moving forward.

Reflection

Visiting the MaRS Commons co-working space and speaking with Mike revealed a lot of meaningful insight concerning the advantages of startup incubator programs in Toronto. Through Mike’s shared experiences with Push I gained a better understanding of the process of taking an idea from concept to funding and production with the support of an incubator program. One of the key items that Mike had spoken about that I think was extremely relevant to our studies was the value of goods and services. Mike explained Push’s initial hesitation with pricing their product within a premium price range. Through deeper research and support from Jolt’s incubator tools it was actually revealed that a lower price is not always appropriate for the audience which you are marketing to. I found this to relate well to the idea of games as products that are non-essential items. Then, like Push’s premium marketed device, cannot be valued based on its necessity but its relevance to its consumer base.

Links

http://www.trainwithpush.com/

http://jolt.marsdd.com/companies/winter-2013/push/

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