Start-Up Deep Dive : Revenue Model and Building Sustainable Products From Kerala
STARTUP DEEP DIVE is an Entrepreneurship Training Series conducted by IEDC MEC which aims at providing individuals with the aptitude to identify business opportunities, self-esteem, knowledge, and skills to act on them. Entrepreneurs or the move towards self-employment is and will continue to become, an increasingly important element of economic growth and development.
“Start-ups don’t fail because they lack a product, but they fail because they lack customers and a profitable business model”
~ Steve Blank ( American Entrepreneur )
The 3rd session of the “Startup Deep Dive” series conducted by IEDC MEC featuring Felix Josemon, founder of Kerala Product Hunt & Final App. He is one of six people who has had a face-to-face meeting with the CEO of YouTube. His entrepreneurial innovations focused mainly on start-ups from the state of Kerala. Elaborating on revenue models of various companies, he made the session more exciting. Using examples of start-ups from Kerala, the speaker conveyed that building a sustainable product is crucial. One of the products he highlighted was Aviyal, created by an ex-MECian. He also described the revenue model of several companies. One of the prime verticals of the session was the growth of start-ups through product-led marketing. The chain-line revenue model he used in Lighthouse, which resulted in massive success, also made the session entertaining.
Toward the end of the lecture, there was an activity on evaluating the revenue models of various companies. The students were divided into groups and given 15 minutes to discuss and present the revenue model of one of four companies: Appmaker, Buymeacoffee, Typino, and Mailmodo. Each team gave an overview of the company and described its revenue models. The highlight of this brainstorming activity was that everyone contributed. They also added suggestions to make the current revenue model of these companies more effective.
After the presentations were complete, an open discussion was moderated by the speaker, Felix Josemon, providing valuable feedback and other teams added their inputs and queries. As a token of gratitude, one of the representatives of the IEDC MEC presented him with a memento. And with this, we wrapped up the session
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