187th 1M/1M Roundtable For Entrepreneurs: Peer Validation Is Irrelevant
Today’s roundtable was yet another global event with entrepreneurs pitching from Brazil, India, United States and Europe.
First, Eduardo Cardoso from Minas Gerais, Brazil, pitched UTripz, which he wants to build up to be an ad-supported content site featuring the top 300 travel destinations in Latin America, starting with the top 100 in Brazil. The site will be in Portuguese, Spanish, and English.
Eduardo needs to learn how to build a web business at a granular level. He presented a slide that projects $20M in revenue in 24-36 months. Unfortunately, we didn’t see anything in his presentation to support that kind of monetization.
Next Rolande Mbatchou from Chicago pitched Newbble, presented as a social network where entrepreneurs will hang out to get peer validation of their ideas. As far as I am concerned, peer validation of business concepts is irrelevant. The only validation that matters in customer validation. The rest is incidental, and I don’t believe a social network that doesn’t have a core purpose will work.
Then Jean Richard Witteveen from Den Haag, Netherlands, pitched eccentrade, a subscription based database and network for buyers and sellers of ‘clean’ products to find one another. Jean has already started the project with about 250 buyers and sellers, and has access to 3000 from his previous life. I like the concept, and if Jean can get 10,000 ‘clean’ buyers and sellers to hang out and transact on his site, paying him a monthly subscription fee, there is a very clean business here.
Ek Taara Fashions
Priyanka Chugh from Jaipur, India, pitched Ek Taara Fashions, a concept for ethnic fashions to combine different ethnic styles and crafts in India. It’s an early idea, and Priyanka is still developing her brand positioning, as well as target customer segment.
Last up, Abhishek M. from Hyderabad, India, pitched InterviewMeter, a well formulated concept for interviewing and screening candidates on behalf of IT companies who handle large numbers of hires. The company is working with a set of beta customers, getting feedback, and will need to refine its service based on that.
You can listen to the recording of today’s roundtable here.
Sramana Mitra is the founder of the One Million by One Million (1M/1M) initiative, a virtual incubation program that aims to help one million entrepreneurs globally to reach $1 million in revenue and beyond.
She is a Silicon Valley entrepreneur and strategy consultant, she writes the blog Sramana Mitra On Strategy, and is author of the Entrepreneur Journeys book series and Vision India 2020. From 2008 to 2010, Mitra was a columnist for Forbes. As an entrepreneur CEO, she ran three companies: DAIS, Intarka, and Uuma. Sramana has a master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology.