08/12/2023
Part 1/2:
It's been about a month since the https://www.itecsea.com/top-50-semi-finalists/ competition results were announced. As promised, I wanted to share some of my key learnings and takeaways from watching the top entrepreneurs in Southeast Asia pitch their innovative ideas.
Even though my team and I didn't crack the top 20, we were thrilled to make the top 50, especially since we didn't even have a working product yet! All we had was a concept, a dream, and a vision for how we could make a difference with www.peakposts.com
As I watched the top teams present, a few things stood out that I believe contributed to their success and ability to secure substantial funding commitments from the investors.
First, they had a very solid understanding of their target customer and the specific pain points they were trying to address. They didn't treat all customers as equal, but had laser focus on the specific segment they were building their solution for.
Additionally, they had clearly validated that their potential customers would not only be interested in their solution, but be willing to pay for it. They had proof that their solution filled a need the market had.
Besides customer validation, the top teams also had impressive traction and metrics to back up their lofty projections. Having won grants, competitions, and if you are from B2B showing a slide full of brands who are you customers would certainly instill confidence.
Follow for part 2.