18 Oct 2013

Keeping it simple…

By Lily

One of the things we are very clear about when people apply to BGV is that we don’t want to see a business plan. We don’t want to see financial projections. And we certainly don’t want to see a Gantt chart, or god forbid several.

In our experience of helping early-stage startups both on the BGV programme and outside of it, the only thing that teams can be sure of is constant change. Ideas are in flux, models pivot, teams shrink and grow and business plan after business plan gets ripped up and started again. And that is how it should be – that is how after much iteration, hair pulling and coffee drinking businesses come up with a workable model (which will last them at least for a couple months).

We reckon that any figures (however prettily presented) can’t be more than fantasy at this point – and rather than making up numbers we would rather founders were taking the time to investigate problems, prototype products and most importantly  to talk to users and customers.

This doesn’t mean, however, that we look for fluffly application full of grand statements unbacked by facts. There are  four things that we are looking to see solid proof of in a BGV application:

  1. An excellent understanding of the problem being tackled and a passion for solving it.
  2. A team that knows how to work together and who compliment one another’s skills.
  3. Potential and ambition for the solution proposed to change millions of lives at some point in the future.
  4. A plan for measuring the social impact of the venture and a commitment to putting these metrics at the centre of their work.

If you have an idea that uses technology to change the world (but can’t be bothered to make a business plan) apply now! Deadline is midnight on October 28th 2013.