There are two institutions that are doing commendable things on startups and entrepreneurship. The most exciting aspect is that they are doing and not just talking. IPO48 and Garage48 are nice institutions and we are very happy to introduce them to our readers. Africa needs these types of institutions over many others that write papers and never cared if the people reading have skills to implement. Read bout them and what they stand and do.
What is IPO48?
The cost of launching a web and mobile business or creating a new products is decreasing. That lowers the barrier to entry for startups, which is great for entrepreneurship. On the flip side it increases competition for entrepreneurs, so building a product and getting it live doesn’t guarantee success.
90% of startups fail and it’s not because of lack of technical capability, but there is just no costumers or market for it. The problem they were solving turned out not to be a problem or it was too insignificant for people to pay for it.
This is what the IPO48 events address – we push entrepreneurs towards market reality to validate their ideas. This is done by exposing the entrepreneurs idea online to a crowd of business professionals, mentors and consumers who challenge them before the event kicks off. During the event the entrepreneur needs to convince potential team members to join him to build a prototype, and experienced mentors will push his team to create a viable business model. It’s intensive and rewarding for the entrepreneur, and the energy at these events cannot be described – it has to be experienced!
What is Garage48?
Many people are afraid to start their own business. Common issues – lack of know-how and co-founders, lack of seed money, afraid of risks etc. Garage48 is here to change that mindset and show that it’s all about positive attitude, creative team members and a motivating deadline. Less talk, more action!
Goals of Garage48
- Organize practical, international and fun startup events with a really lean budget
- Show that teams can turn an idea into a working service or prototype within just one weekend
- Prove that new web and mobile projects can be started with a good team and really lean budget
- Promote entrepreneurship and startup culture in Estonia, Northern Europe and Africa
- Teach people to work under a tough deadline – you need to focus on the core items of the project
- Get to know new people from other industries, roles and countries
- Less talk, more action and fun!
Simply, they both do similar things. They try to bring practicality to the people that love to extend the limits of technology creation. Participate and advance.