Perfecting your IoT business model

The month of May had two prototyping sessions for Wazihub in Uganda. Various startups got to present their prototypes in each of these sessions.

Understanding the business and economy whose product you are building for is extremely important as one goes about the development of their product. Through Wazihub, the startups have been under a number of trainings to guide them on how to perfect their IoT business model and also map out their market niche. Most of the decisions around product development requires one to have a strong understanding of the business so that their contributions or suggestions are in line with the business goals.

One of the facilitators in training also emphasized that perfecting the business model is also important since most of the investors mostly look out for the business aspects of any presentation by the startup — what is your startup’s value proposition?