Last week Mikael Cho from ooomf stopped by to talk to the teams about his experience in FounderFuel and where his company is now.
Ooomf went through FounderFuel in the Spring of 2012, raised a $500,000 seed round relatively quickly after graduation and have recently announced a $2 million Series A.
He began by stressing to the teams just how important time management is, without it the teams risk not being in a great position for Demo Day. Mikael explained that they should break up their time into 3 sections:
- Month 1 – Define your problem/solution and then meet with customers to get their feedback - Month 2 – Push something live, even if you’re going to pivot, you need to get some initial traction - Month 3 – Traction, traction, traction. Focus on this as much as you can before Demo Day
He moved on to talking about Demo Day and how when the teams walk out onto stage there are several ways they can WOW the audience. But that if anything they should have at least 1 of the following:
Did you hear the whispers and the rumours that were spreading over the weekend? Could they be true? Are Demo Day tickets already available?
You better believe it! Tickets are live and boy are they going fast!
Don’t miss your opportunity to watch the 8 teams from the Spring 2014 cohort walk on stage at the historic Rialto Theatre and show you how far they’ve come. After the pitches join the entire FounderFuel network at a 5 à 7 to meet and mingle with the teams.
To mark this occasion we set up a countdown board in the FounderFuel room.
As if things weren’t stressful enough, now the teams have a daily reminder of just how little time they have left. Since stress is at an all time high we went around to ask the teams “what keeps them up at night?”.
Here are some of their answers:
“I’m worried about doing the right thing at the right time in the right way because everything is moving so quickly!”
“Traction. All I can think about is how do we get a good level of traction.”
“Everything. My brain is always turning, wondering what can be done better or faster.”
“Are we building the right way? Are we building what the people want? Are we being stupid?…”
“Figuring out our growth strategy.”
“I think the better question is, what doesn’t keep me up at night?”
And with that, the countdown is officially on. Are you excited to meet the teams?
Last Thursday we held our first big event of this cohort. The teams were put through major Mentor whiplash during an all day “Mentor Speed Dating” event. It was definitely a packed house, we had about 100 mentors from all across Canada and the USA who were all there to give the teams valuable information and advice to help them build and grow their companies.
Check out some of the photos from the day and no, we still aren’t giving up who the companies are this cohort !
BUT WAIT! We’ve got you covered. Forget a taxi, forget your Bixi (in this heat? No way!) and hitch a ride on the Startup Bus for a worry-free way to get from the Festival to Demo Day. All you need is your Demo Day ticket to get on the bus!
Buses depart at 5:00 PM and 5:15 PM from the Science Center in Old Port.
Heads’s up Ontario! Hop on the train to Montreal’s International Startup Festival.
The Startup Train is your opportunity to get organized with 100+ Ontario startup junkies ahead of time. Together they’re going to bleed every drop of opportunity available to them. Their pre-events, online shared space, Ontario Startup Tent, etc. are all geared towards us leveraging the real opportunity that Startup Festival presents.
Your ticket to the International Startup Festival.
First class travel to the International Startup Festival on our private VIA cars.