HOW INVESTMENT TRULY TRANSFORMS WITH PROJECT#808
PROJECT#808:IT'S NOT ROCKET SCIENCE
A problem/solution/product model will work in any isolated business. The PROJECT#808 model works best in vertical sectors that share certain attributes.
We work with the underdogs. You will experience this in markets dominated by a few large players, and a large number of SMEs with a significant market share. For example, in the UK pharmacy sector around 7,000 pharmacies are owned by 3 large corporations, while circa 7,000 pharmacies are owned by 3,500 independents. We work with the independents to level the playing field with the big boys.
A big, shared challenge must exist. In pharmacy it is the looming and devastating reduction in the NHS contract. In other sectors, it might be the innovation gap between the global players and their localised supply chains. It is our job to uncover the many small problems, because you don’t know what you don’t know!
To jointly solve the big challenges and small problems it is beneficial but not essential for the sector companies to experience a low level of competition as this encourages collaboration. Not all shared problems are affected by competition – sustainability and net zero for example.
If your sector is early in the Digital Adoption Curve, has an appetite for investment and collaboration, we can build a community that drives your industry forward whereby everyone profits.
PROJECT#808: YOUR PRODUCT ROADMAP AND INVESTOR JOURNEY STARTS HERE
An access partner is an essential attribute to the vertical sector: a person or organisation that opens up the sector with us. Alongside our access partner we pull together groups of individuals and companies to consult with and investigate problems shared across the sector. We don't listen to ideas, we truly believe that "you don't know what you don't know". We find problems that we believe are solved with simple technology applications.
We attach ourselves to the problems. We work with your teams and we look deep into the eyes of the problems, we experience them. Detailed problem statements are created so that we can validate with sector groups. This process produces heavily validated problems that, the sector agrees, if a solution was available to this problem they would buy it.
The problem statements form the basis of the business plan to establish the Innovation Lab and is the opportunity for the founding investors in a joint venture with PROJECT#808 to take the first step to owning their future.
PROJECT#808 engages with its team of domain experts, tech professionals, inventors and academics to develop "light touch solutions" for each validated problem. The resulting documented solutions detail what "in the market" solutions may look like before they are all presented back to the now founding investors and growing number of engaged sector representatives for re-validation.
With fully sector validated, documented solutions PROJECT#808 runs each solution through the Problem Solution Matrix. This rigorous process considers technical challenges, commercial viability, adoption issues, investability, scalability and many other factors. The rest is a league table of the fastest, cheapest and easiest solutions to take to market. Alongside the founding sector investors, PROJECT#808 decides which products will be developed in the first phase (usually 3) and in what order.
Equipped with a conveyor belt of sector validated and documented solutions that the industry have indicated that they would purchase, the value of the lab is rapidly increasing and a second round of investment is opened up to fund the creation of the initial Proof of Concepts.
With several stages of sector validation including market testing, focus groups and one2ones, PROJECT#808's product designers and UX experts create working POCs and product presentations.
With working POCs and a wait list of customers the final round of investment is undertaken to fund the building of the Minimum Viable Products and the go to market strategy.
PROJECT#808's development team build the products before undertaking Alpha and Beta testing with nominated sector groups.
In parallel to testing PROJECT#808 starts to build the infrastructure and team for the Innovation Lab to take the products to market, deliver technical and customer support whilst maintaining products and executing the continued product development roadmaps.
Products are released to market on a schedule as the Innovation Lab team grows, and revenues increase to the point of sustainability.
Once products are established and proven in the vertical sector, we enter a "growth hacking" stage. Because scalability is included in the Problem Solution Matrix all products are sold into other sectors and into other territories through PROJECT#808's international partner network.
Room 303 Maxwell Building 43 Crescent Salford M5 4WT
0333 050 3801