From Ideas to Actions with RISE Incubation Program: Journey after RISEKATHON 2021
RISEAKTHON 2021 went by swiftly despite being held online, it proved that even the pandemic cannot and did not stop innovative minds. Nevertheless, the hack was intense and overflowing with competitive air. Now let’s hear about the thoughts on the hackathon with some of our participants.
“The problem statement for this hackathon is quite abstract but also interesting, “How to accelerate innovation in an organization”. In our opinion, it doesn’t have clear issues that need a solution so we spend quite a bit of time thinking about this. Some teams even had to rethink everything last night!”
Another team particularly mentioned that “Exercise is what gets hearts pumping blood through intense workouts, brain exercise also works the same except it’s pumping ideas.”
Although the RISKATHON had ended, the ideas certainly did not! A few of the teams were called, in particular, Ricesters and Supergroot to join RISE’s Incubation Program to further physicalize their ideas which stretched from 2 days to 2 months.
Let’s take a look at the outlines of the incubation program
- Problem statement
- User Persona
- Customer Journey
- Customer Research
2. Explore
- Hypothesis
- Gather research
- Gather inspiration
- Potential market opportunity — value proposition
- Business opportunity, Impactful problem
- Target customer
- Validation of Desirability
- Proposal of business concept
3. Concept MVP/MLP
- Key hypothesis
- Supporting evidence
- MVP features
- Technical requirements
4. Product/Market Validation with MVP/MLP [go, no-go checkpoint]
- LOI
- Traction, willingness to pay
- Prototype that reaches problem-solution fit
What our participants have to say about the incubation program.
What was the main difference between RISEKATHON and the Incubation?
For the Hackathon, we have limited time and use only information provided by RISE to form the solution. But in the incubation program, we have to identify real pain points from the real target users by interviewing them, ideating for the solution and business model idea, and then validating it with target users again. Basically, in Hackathon, we just find the most logical way to solve problems in the hackathon booklet.
“But for incubation, it’s an iterative process to offer the right solution to the right problem and the right target users”
Why did you choose to take on the incubation program?
After the event, RISE reached out to us to offer an opportunity to continue with the Incubation program. We all unanimously agreed to pursue the opportunity. The reason for us is “why not?”.
“It’s a great opportunity to try and learn to create a startup from scratch. Not to mention the expertise, guidance, and connection that RISE can provide us”
Ready to open more opportunities for yourself?
Don’t miss out this year’s RISEKATHON 2022 #Batch 2
This year’s RISEKATHON will be held 100% offline, more opportunistic windows for connection and valuable experiences of a lifetime.
📌Sign up for Hackathon until 24 June 2022 at www.riseaccel.com/risekathon
👾Join our RISEKATHON Community at https://discord.gg/m5PRNrRqWH
Hope to see you at the Hack!
#RISEKATHON #HackToRISE #hackathon #Innovation #RISE #Hack #Startups
