Photo credit: LSM Vienna
For those, who are not familiar with the event – here’s the typical LSM process: first the participants form working groups and as soon as participants have found each other it is all about learning and validating. The event aims to support startup ideas until all of the teams should have developed a promising business model. In the end, the final presentations shall bring forward one winning project.
So far so good – but like so often it’s easier said than done. The competitive atmosphere and limited time puts pressure on the competitors but the competent supervision of professionals and mentors support each team to finish their project in time.
Participants from all across the world
Out of 11 teams and participants from all across the world (Australia, Holland, Germany, Bulgaria, Austria, India, Turkey, China, Iran and many more), the jury selected three particularly interesting startup ideas ready to hit the market in the near future.
The event aims to support ideas until all of the teams should have developed a promising business model
Team Sportplattform, who won the third prize, is one of them. They developed an idea of a sport’s buddy system which motivates you to do sports and had a very strong learning curve. Second place went to Wirt’s House team, which plans to launch their idea in Vienna in June. Their platform combines the interests of two groups – the one, who want to have a local experience and the one, who want to share stories and offer homemade cuisine. They even organized a drinks & tapas event on Saturday and managed to gather 18 guests, randomly picked up on the street. If that’s not a sign of a good strategy!
First place went to Waschbote, which impressed the jury with a great learning progress and potential to identify and validate risky assumptions according to their target group. It is based on a simple idea – they pick up your laundry and bring it clean and fresh within a short time.
Next year’s LSM Europe Alumni conference in Vienna?
Photo credit: LSM Vienna
All of the teams will be supported by Lean Startup Machine and the Segments Accelerator in the process of further development and improvement of their ideas. The Winning team got tickets to the Pioneers Festival, one of Europe’s major conferences for entrepreneurial ideas. Furthermore, Segments Accelerator has active conversations with Wirt’s House to become part of the company. Team Sportplattform will go to the Health Hackathon Vienna.
Looking into the future of LSM, Ivo Radulovski, CEO of Segments Accelerator, shared with inventures their plans to host the LSM Europe Alumni conference in Vienna next year. So if you have an interest in business, this will be an event you do not want to miss.