Introducing Covation Labs
Entrepreneurship is the most successful poverty eradication program ever invented. From airlines to Zumba fitness, almost every industry owes its existence to private initiative and vision. We see the fruits of entrepreneurship and private businesses everywhere around us. From industrial revolution to the current phenomenal rise of Chinese and Indian economies, entrepreneurship has lifted billions of people out of poverty and made lives of human beings everywhere better.
No wonder then, that we see eight million new businesses created every year in the United States alone. People who have a vision, a spark of an idea, take almost impossible risks to create a businesses that they believe will become their legacy… or at least provide them with sustainable income for the rest of their lives. Founders don’t just invest money in their new ventures, they also invest their dreams, hopes, sweat and tears. Sadly, only 4% of these eight million businesses survive the first year. of the survivors, only about 8% see the year two. A great deal of financial and human capital is wasted when businesses fail.
This is the reason Covation Labs exists. Our mission is to help entrepreneurs and innovators turn their ideas into successful business outcomes quickly, confidently and sustainably while reducing the risk of failure.
We will democratize innovation and entrepreneurship. We will take the process that the most innovative companies in the world use and make it available to every founder, every team — regardless of the size of the venture or the maturity of the team. We will help the teams ask the right questions — who is our customer? are we solving the right problem? are we providing the right solution? will anyone want to buy our solution to this problem? how can we best serve our customers with our product or service? And we will help them answer those questions.
We will use proven methodologies such as lean startup, design thinking and business agility to help teams to continuously experiment and learn and make their products and services better. Whether it is a coffee shop around the corner or a product team developing the latest app for a banking giant, we will provide them with best thinking frameworks and innovation management platform for creating customer centric products and services.
Our journey is just beginning. Join us and be part of this Structured Revolution.