FOUNDER PLAYBOOK
At your stage, what is the most rewarding thing to do?
Choose the stage, see the right part of your work
Each stage has a main problem. Correctly solve that problem first, the rest can be done later.
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- 01Ideas
- 02Prototype
- 03Early Traction
- 04Growth
Things to do
Things need to be prioritized at the idea stage
- 01
Identify the problem & customer
State clearly what problem you solve, for whom, and why it's worth solving now.
- 02
Interview 20+ potential customers
Look for evidence of genuine need, not politeness. Record specific insights.
- 03
Shaping technological advantage
What makes you hard to copy: patents, know-how, data or team.
- 04
Outline the market opportunity
Rough estimate of market size and why now is the right time.
Common traps
Three common traps in the idea stage
Ask relatives instead of customers
Acquaintances often compliment your ideas. Only people willing to pay will give objective feedback.
Hide ideas for fear of being copied
At this stage, the bigger risk is that no one will be interested in the idea, not that it will be copied.
Build the product before understanding the problem
Months of building a product for a bogus problem is the quickest way to waste resources.
Stage transition milestone
Three signs you're past the idea stage
Twenty conversations were recorded
Not twenty compliments, but twenty specific descriptions of how they are managing today.
A sufficiently narrow group of first customers
So narrow that you can name ten specific people who will use the first version.
One reason it's hard to catch up
Patents, proprietary data, or experience that took others years to acquire.
Documents corresponding to each stage
This stage requires very little paperwork
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What will the fund ask?
Three questions the Fund will ask at the idea stage
- 01
Why are you doing this?
The Foundation wants to hear why you stick with the problem, not just a list of achievements.
- 02
Why now, not five years ago?
Good answers are often tied to a specific technological, policy, or behavioral change.
- 03
How many customers have you talked to?
The numbers and what you learn are more important than the polish of your presentation.
Next step
Has the milestone of this stage passed?
If the above milestones are met, you are ready to prepare your application to the Fund. If not, continue to complete the missing part.