The Iron Yard Experience - Day 3
It's day 4 and I'm blogging for day 3...such a slacker am I! Hey, what can I say, startups are hard work. Just bare with me...I'll be back to my normal schedule in no time.
We spent our morning speaking to Vidyo about their video conferencing technology. Did you know their codec powers the majority of #Google services we take for granted today such as voice and video chat? I've got to say, I'm quite impressed with what Vidyo has been able to do in such a short period of time. There is a prediction out in the marketplace that this company will IPO in the next year or two. Maybe that's why the VP of business development is so content on having a meeting with a company with two employees. Can anyone say stock options? ;)
After this session, we spent the rest of the morning and early afternoon in a conferencing room whiteboarding our requirements and UI design. I never thought I would have so much fun writing requirements and designing an application. It's amazing how much effort an individual will put into something they care about versus the boring work they're often doing for an employer they give two shits about. As we go to a stopping point, it occurred to us we should schedule a session with our development team to give them a heads up of what's coming their way. We sent a few e-mails and confirmed a call for tomorrow.
The day culiminated with our first one-on-one with both the managing director and program manager of the Iron Yard. We reviewed our high-level accomplishments, along with a review of what we wanted to get out of the accelerator at the end of the 12-weeks, such as a killer board of advisors and funding! They also provided the following advice for pitch practice, in preparation for the biggie at Health 2.0 this fall:
1. Health 2.0 audience will be approximately 75% investor, 15% partner, and 10% other
2. Pitch should be laser-fcoused on one particular market with a plan for expansion to future markets
3. Make the pitch interesting by telling a story.
4. Stay away from the technical jargon
5. Have the investor want to remember you 20 minutes after the session.
That evening, we went to our living quarters, which is directly above the working space. While the space is massive and convenient, we haven't had power for the past 3 days which has made it extremely challenging to figure out what we're eating for dinner every night. Luckily, we have some awesome neighbors - Dan, Kat, and Senthil - who are also in the accelerator. Dan commented on how often and intense Phil and I looked while in the conference room...hahaha. We all hung out in an adjacent apartment over beers and veggie sandwiches. They've also got quite a cool dog...luckily I am not allergic.
Now, it's time to briefly blog about day 4 on day 4 (kind of)! Here's hoping the lights come on tomorrow/