Updated: Mar 7, 2021
This week , in The Builders Club, there was a discussion on Growth of Incubation as an industry in and post-pandemic scenarios with Pratham Kaudap- who is the Founder of ENTREESPHERE, An Incubator re-conceptualizing entrepreneurship through experiential learning for those with creative and innovative ideas to transform their passion into reality (http://www.entreesphere.com/). Entreesphere has partnered with T-HUB, One of the world’s largest tech startup hubs to grow the startup ecosystem in India. Previously, he started and headed two startups, Wissenarie and Tech Amaush.
Summarizing the discussion:-
Validating the idea first and defining a problem statement is more important rather than building a prototype.
Always think of ways in which the idea is going to help the end-user to solve his/her problem. This is going to help you to build and define premium features.
To face the failures in a startup, one should not emotionally get attached to the idea instead be connected to it every time.
There is no clear demarcation as to what is important - the quality of the idea or whether the design is quantifiable enough to scale for incubation of any startup as long as the idea gets its due.