Blog post [Fill the holes]
Our particular topic on “Funding Long Speculative Research” has not been the easiest to tackle. Although it is rewarding, it is an agonizing climb to the top.
Last week, we tried to fill in the holes that we identified as giving us problems. Only problem is that in the process of filling in the holes we cracked it wide open.
- Pop up exhibits don’t further the conversation.
- We don’t know what the back end is going to be yet.
- Never agreed on a value proposition.
These are the ones we focused on however we found more that we needed to address. Our target market size was too broad. We went from an already big solution to an even bigger solution involving multiple facets and tackling on. We needed to narrow it down.
Other pitfalls we’ve encountered are:
Corporations seem to look for profit
Never specified what kind of research or people would be interested
cost of finding physical space, maintenance
locating the exhibit donators
cost structure of maintaining the front and back
Corp VC don’t find the museum attractive
Funding happens organically
What comes first, the museum, or the incubator?
What are the researcher’s other pain points?
Trying to make everything look like it’s going well
Traceability / patent system
Technology research is a money making tool.
Overall we need to focus on a specific narrow market that we can start solving for. Even if not we need to start getting our hands dirty and testing out possible solutions in a fast and short turn around timeframe moving forward.