16
Jul

Meet the Startups in Area 31: VSpot

Escrito el 16 julio 2014 por entrepreneurship en emprender

Author: Natalie Cartwright

Where did you get the idea to develop VSpot?

Team was more important for us than the idea. We started by looking at our life and entrepreneurial goals, decided that they aligned and that we wanted to work together. Then we sat in a room together for weeks on end brainstorming ideas. We were interested in building a wind tunnel in Vancouver and a mentor told us to start with renting idle time in another wind tunnel to test the market. From there we jumped to renting idle time in spaces in general and VSpot was born.

How long have you been working on the idea?

We have been working on the idea since November 2013. VSpot was part of the IE International MBA venture lab program from January – May 2014. After we graduated, some of the team was offered short-term contracts that were difficult to refuse so at the moment are taking a short hiatus as we gain start-up experience and refill our bank accounts following our MBAs.

Who are your current or potential competitors?

The space market is taking off and there are lots of start-ups with similar models in Vancouver, New York, London and elsewhere. We met with our competitor in New York and are looking for opportunities to work together – for example with licensing software etc. For the moment, no one company has any significant market share.

What features would provide further differentiation?

Because this is in an event space, the opportunities to differentiate are more or less limitless. For the moment, we are focusing on getting a solid core product and making sure that the user experience is exceptional.

How does VSpot work?

Elliot can tell you in 45 seconds. Watch this video.

What is VSpot’s Business Model?

It’s a very simple model. Vspot is a two-sided platform that connects venues with people who want to host events. Every time VSpot connects a venue and a host, we take a minimum 5% commission.

What kind of investors does VSpot have?

VSpot has three major investors – Elliot Stone, Chris Gomes and Natalie Cartwright (we also happen to be the founders). We wanted to bring as much value to the company as possible before seeking external investment. We are currently bootstrapping our venture and have not yet sought external financing.

Do you have a prototype?

We patched together an MVP to allow us to test the market – www.vspot.es. We curated the best venues in Madrid and added them to the website to see what people are most interested in booking. We are also getting metrics on user patterns to help us develop the next website iteration.

What are your most difficult experiences as an entrepreneur?

Our team is made up of a Brazilian, a Canadian and an American who met in Spain. We love working together but it’s difficult to all be allowed to be in one geographical place – especially in a city that makes sense for our business as it is very location specific.

Is there anything that you would do differently if you had the chance?

We would spend more time managing the IT portion. Early on we found a developer who worked on our site for free. However, he completed 90% of the original site and then disappeared. We managed to find a way to complete the website and learned a lot in the process. Having stronger IT skills on the team or a clear risk mitigation strategy from the beginning would have been useful.

What advice would you give to potential entrepreneurs?

Team is everything – invest time in putting together the right one.

Comentarios

stand design dubai 23 julio 2015 - 11:17

stand design dubai-Description1 : No#1 Exhibit Design Companies located Dubai UAE. We offer exhibition display design, Event Backdrop Stand, Exhibition Display Solutions. Visit us at DtouchExhibit.com.

: BLUELINESECURITYSERVICES. 23 julio 2015 - 12:05

surveillance cameras for business va-Blueline is composed of four divisions: Uniformed Division (armed or unarmed), Executive Protection Division, Security Guard Training and Education Division, and Commercial Services. Depending on the needs of our clients, personnel from any one of these divisions can be utilized to address their security needs.

DTOUCHEXHIBIT 29 julio 2015 - 09:24

stand building dubai-Description1 : No#1 Exhibit Design Companies located Dubai UAE. We offer exhibition display design, Event Backdrop Stand, Exhibition Display Solutions. Visit us at DtouchExhibit.com.

Freeparking 1 agosto 2015 - 07:18

Vertical Blinds
-Bestblinds.co.nz provides buy online wooden vertical blinds, Vertical blinds prices, Cheap vertical blinds, Vertical blind chain in NZ.

openaccess. 18 agosto 2015 - 09:23

OpenAccess is Zimbabwe’s number 1 on the go wifi Hotspot Internet access solution. Visit openaccess.co.zw or Contact us Phone: (086) – 8300 – 0000/07/08/09/10.

bestblinds 4 septiembre 2015 - 08:57

Browse a wide selection of beautifully designed and crafted quality roller blinds at Bestblinds.co.nz. Quality Roller Blinds, Honeycomb, Wooden & Vertical Blinds in New Zealand.

rajesh 15 septiembre 2015 - 12:42

Description Tag: Xtreme Training Academy is the best training academy and source of mixed martial arts. We are located in BARTLETT. Visit or contact us to join our academy and classes.
Martial Arts Academy in Bartlett

RESHMAMOHAN. 16 septiembre 2015 - 12:00

Wedding Photography is our passion and we have selected the most talented individuals to be part of our team. A graduate of the University of the West Indies Bachelor of Arts Film Program, it was during my years of studying that she I fell in love with the audio-visual medium.

RESHMAMOHAN.Best wedding photographers in Trinidad and Tobago 16 septiembre 2015 - 12:05

Best wedding photographers in Trinidad and Tobago-GRENADA WEDDING PHOTOGRAPHY BY RESHMA MOHAN My very first wedding was done in the beautiful island of Grenada…

Best wedding photographers in Trinidad and Tobago 16 septiembre 2015 - 13:00

martin kragh rysslands historia-Martin Kragh is a researcher at the Uppsala Centre for Russian and Eurasian Studies. He defended his PhD at the Stockholm School of Economics in 2009, and specializes in the economic and political history of Russia and the former USSR. Kragh has also done research on the history of economic thought, and has written a textbook (in Swedish) on the topic.

jeet kune do training 17 septiembre 2015 - 11:51

jeet kune do training-Description Tag: Join Xtreme Training Academy for jeet kune do training, techniques and classes in Bartlett. Visit us to know what is jeet kune do ? Who is founder of Jeet kune do.

Protect your bubble 3 mayo 2016 - 13:17

Protect your bubble:inurl:blogspot

Protect your bubble-Sickofthenorm.com: provides how to work at home jobs, how to target high traffic keywords and top keyword

joaquin 27 agosto 2016 - 08:48

Meet my startup, one day you would need itGlobal marketing asesores

Dejar un Comentario

*

Utilizamos cookies propias y de terceros para mejorar nuestros servicios y mostrarle contenido relacionado con sus preferencias mediante el análisis de sus hábitos de navegación. Si continua navegando, consideramos que acepta su uso. Puede cambiar la configuración u obtener más información aquí. Aceptar