LIGHTNING LAB ELECTRIC VENTURE UPDATE: WEEK 11

With Demo Day is upon us next week, we spoke to the ventures about what they got out of the programme and what’s next in their journey as founders. Demo Day is a key milestone in any Lightning Lab programme and it’s been amazing to see the cohorts progress over the last 11 weeks. Each member has worked so hard, made connections and gained traction and we are very inspired to see the innovation that is now taking hold in the electricity sector because of this. If you missed our last venture update, read it here.

Looking back on the programme, is there anything you found useful that you will take into your personal life as well as your professional life?

Polany.io | I will definitely be taking the learnings back to other businesses that I’m currently involved with. Plus the lab has been like a very intense refresher course for the work we do, sharing lean startup methodology through Startup Weekends across New Zealand.

emhTrade | Most important are that consumers and businesses alike want to talk and help, when you are genuinely there to truly listen to their problems, understand them and look for a solution. Whether an introverted techie and an extroverted artist, there is a lesson in this for us all.

Ampli | I’ve definitely got better at using the Rocket Espresso!

What are your companies post acceleration plans?

Polany.io | We have a solid partnership developing with an energy industry company that will underpin our product development roadmap and give us an opportunity to trial each feature progressively. We also have a relationship with another energy startup and will be in a much stronger position to support their technology development in future on a consultancy basis. So that’s our bootstrapping strategy.

emhTrade | We have gained great insights from consumers and those in the electricity supply chain and are now working hard with a number of them on the shape of a pilot that can definitively evidence the better consumer and business outcomes we will deliver.

Ampli | Our first objective is to deliver on the sales we’ve made to our first 3 lines companies. And a big milestone in September will be the incorporation of our JV between Axos Systems & Counties Power.

Now you’ve perfected your pitch, share your biggest piece of advice for people learning to pitch?

Polany.io | The pitch is never perfected. It always feels like a work in progress because we are learning more every day and receiving coaching on a daily basis. The obvious piece of advice is to practice daily. Try to transition to pitching without notes reasonably soon. If you understand your business proposition and are excited about the opportunity, then you should be able to tell a nice story.

emhTrade | Ha ha, the harsh lessons from many enthusiastic pitch advisors is that there is no such thing as a perfect pitch. But top tips include share the energy and excitement you have for your product, whilst quickly and tightly evidencing the consumer problem and how your solution is the much wanted (and surprisingly enjoyable) medicine.

Ampli | Practice makes perfect, I think I’ve pitched 20 times now and I will try to do another 20 before demo day – and talk slower!

How will you celebrate the completion of the accelerator?

Polany.io |  Having a weekend away without the laptop.

emhTrade | We are a mixed crew and after many long hours, the team is eyeing the spring snow on the mountain and winds on the sea to get out and catch up on some serious action (with or without kids) – after the obligatory beer of course.

Ampli | Incorporating the Ampli JV will definitely be celebrated – and hoping to re-introduce myself to my family with a little holiday somewhere sunny.

Share a silly photo from the programme with us!

Polany.io | 

polyanio

emhTrade | Still a cool shot (from the beginning of the programme) – burning our inhibitions and making room to learn and grow!

Ampli | This is Squiggle, a pug X griffin that visited us for a week during the programme!

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