The availability of physical infrastructure, right mentoring, and smart money determine the rest of a startup's life.

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Physical Infrastructure

We provide startups with accommodation and co-working space. One of the reasons for us being in Vegas is to provide these services to startups at a very low cost. While an entrepreneur in Bay Area needs to cover his/her costs of living around $4-5K, it is definitely no more than $1K at Innosance's office with accommodation. This simply means an entrepreneur can survive in Vegas for 4-5 months period, instead of 1 month in Bay Area. So, this enables startups to overcome challenges in ' Valley of Death' much easier until getting a major investment.

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By the way, if you have a meeting in Bay Area or LA, you can fly in one and half hour and pay only $100-150.

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Training & Right Mentoring

Startups make their own decisions in the first and last stages shown above. But, from Committing to Scaling, well-designed trainings and right mentoring enable them to save considerable amount of money and time. We can list the subjects on which startups need mentoring as follows:

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·     Building a business plan

·     Team

·     Culture

·     Entrepreneurial Mindset

·     Product Design & Development

·     Marketing

·     Lean Startup

·     Finance

·     Growth Hacking

·     Investor Pitching

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The best trainers and mentors are those who are entrepreneurs themselves again but seasoned ones and industry experts. As Innosance, we designed Startup Fundamentals Program in which trainings on these subjects are delivered by seasoned entrepreneurs, industry experts to startups at Concepting, Committing, Validating stages.

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Another strategic advantage of being in Vegas for startups in travel/hospitality, entertainment, gaming, and esports fields is that they can reach out to early adopters, industry experts, investors very quickly.

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Sales & Operations

Before moving on to funding part, I must emphasize one subject. There is a stage which is not planned with a realistic approach even theoretically and takes much longer than foreseen. This is sales, marketing and operations before a VC funding. Turning the idea to a business plan, founding the company, designing and developing the alpha version are the stages where things get done quickly. And, it has its unique excitement that keeps you motivated and moving on. But, Validating stage, where entrepreneur's idea, product, sales model is adopted by early adopters or not at all, is extremely difficult for those startups who don't have the ability to pivot and develop rapidly.

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Since startups start visiting customers at this stage, there is no escape from increasing S&M, R&D, G&A expenditures. Consequently, the excitement fluctuates. If a major angel investment or VC funding is not raised during this period, starvation begins. At this stage, startups realize that delivering their value proposition is beyond their idea, product, sales model. It is rather production, installation, technical support, supply chain which has very small room for mistakes.

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As Innosance, we provide startups with business services to overcome the challenges of this stage. This is especially vital for international/immigrant startups.

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Funding

A seedfunding is more than welcome in Committing/Validating stages since founders spend their own money and take care of the others. In order to keep the founding team together, developers and early employees in the company, and to cover OpEx, this initial funding is absolutely necessary.

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After getting product-market fit, angel investors can help startups scale the business by leveraging their resources and strategic connections. Therefore, startups can get rid of Valley of Death, and get more testimonials to build their brand.

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As Innosance, we provide seedfunding to those startups who have the right founders and the product. Also, we connect startups to our angel investor network in US, China, and Turkey.

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Partners

Each and every one of these stages requires a different set of skills, experience, network, resources. So, we choose the right partners to contribute more to startups' journey.

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Workinlot's scalable and customizable platform provides entrepreneurs with a broader perspective, speed, know-how, and sometimes a co-founder while ideating, concepting and committing.

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