You already have an idea, which is why you've been accepted, congratulations!

However, you still need to test your idea with customers.

We don't know if your idea will succeed, and you don't know either.

This slide is designed to help you refine it so that you can pitch it in 30 seconds and be ready to pivot and improve it over time.

An idea is typically a solution to a problem or need in the market, or an improvement to an existing one.

Your idea should address actual customer needs and signal a potential investment opportunity.

It must be simple enough to spread and exciting for people to hear. Ideally, the idea should interest you or be something you know your users will benefit from.

When you're looking for a startup idea, there are a few common places where they usually come from:

• You notice a problem in your own life and decide to create a solution for it.
• Meeting talented people can lead to brainstorming new business ideas together.
• If you have something you're really passionate about, you can turn that into a business.
• If you've worked in a certain field for a while, you might see gaps that you could address.
• You explore different ideas, do some research, and pick one that you believe can work.

Some helpful frameworks for coming up with startup ideas:

• SWOT Analysis: This helps you look at the strengths, weaknesses, opportunities, and threats of other companies to learn from them.
• Jobs-to-be-Done Framework: This is about understanding what customers want to achieve and how your product can help them get there.
• Observation of Audiences: Pay attention to potential customers and see where there are gaps in the market that you can fill.

Before you move forward, refining your idea is essential to make it clear and complete. Use tools you may already know, such as the:

• Five Ws
• SMART Criteria
• Mind Mapping
• Etc

These basic tools help you effectively communicate your solution so that people are interested in hearing it. The clearer your idea, the easier it will be to market it and develop it over time.

There are some common mistakes to watch out for:

• Focus on solving real problems.
• You don’t need a perfect idea to start.
• Avoid SISP, “Solution In Search of a Problem”
• Don’t think all the good ideas are taken.

Any idea is just the beginning, around 1% of the project. To grow that percentage, you need to write it down, refine it, and test it.

Start by breaking it down into smaller parts, test it with real customers, and gather feedback.

Also to think differently and expand your startup idea, consider using creative tools like the Fast Idea Generator to brainstorm new possibilities or Lean Canvas to outline key assumption.

To test your idea, create a simplified model of it and try to sell it.

Talk to potential buyers to understand what part of the idea matters most to them.

If they show interest in your prototype, that’s a good sign to move forward with the full implementation.

You might also find the Interview Guide interesting for conducting interviews to gather inputs or test your prototype.

For a startup idea to succeed, it's not enough to simply solve a problem; you also need to ensure there's a clear market for your solution. Consider the following questions:

• How does your experience align with the target market?
• What key metrics will you track for AARRR?
• What unique innovations does your solution offer?

By answering these questions, you can ensure your idea is feasible and ready for the market.

Finding product-market fit can be challenging for any startup. One startup began with a basic idea but faced hurdles when external factors limited their growth. To adapt, they developed a simple solution that attracted initial users but struggled to scale.

Recognizing the need for change, they shifted their approach to a more user-friendly platform, which helped them gain traction, but they still faced tough competition from established players. Later, they introduced new features to retain their users and saw an increase in engagement.

Realizing the potential in serving businesses, they refocused their efforts and achieved significant growth.

There are effective methods to help you uncover the problems:

• Design Thinking helps create user-centered innovation through empathy, ideation, and iteration.
• The Causes Diagram is useful for breaking down complex issues into root causes.
• Shadowing allows you to observe users in their daily lives to uncover unspoken challenges.
• Use Problem Definition to clearly articulate key issues and stay focused on the right problems.

Please use only the tools that helps you and you find interesting.