Week three and four of Socialatom Ventures
We just finished our third and fourth week here at Socialatom Ventures and a number of the startups are showing notable progress. Others are rethinking their original ideas in order to attack bigger markets, emphasize a core differentiator or come up with a more realistic Go-to-Market strategy. At the beginning of the week, we got another visit from investor Sergio Romo (InvestoMex) who had a deeper discussion with some of the startups. Also, we had a short visit from some members of our alliance partner, NXTP Labs.
Last week, during our Wednesday midnight meeting, we got paid a visit from Cesar Cortes, who recently moved from Silicon Valley, and from Luis Felipe Guzman from Connect Bogota. It’s always great to have the startups present in front of new guests and get objective feedback on their progress.
In terms of progress, those Wednesday meetings are essential. With so much written and spoken about mentors, I think there’s a lot to be said for the learning that goes on between startups. For instance, during the last Wednesday night progress meeting, it was clear that some of the companies are much more focused and are getting clear cut results. This not only serves to motivate the rest of the startups, but gives the latter a model of how they should be spending their time and the types of activities which produce results.
After this first month, most of the startups now have a clear direction (some always had it) and now we’ll be focusing more on delivering clear cut results each week with specific metrics. This is an extremely important month since it’s the time when these startups can really focus on their company metrics and results, which is really impresses and inspires their co-founders and collaborators as well as potential investors.