Hey, everyone! We will be liveblogging our Web Summit journey, so buckle up and let's get started!
Check out our full 2019 Web Summit schedule here
Day 4, Nov. 7. Wrapping up another busy day at the 2019 Web Summit. On our way to one more investor meeting!
Day 4, Nov. 7. Show4me CEO Karen Chiftalaryan presents the network at the Music Innovation Competition of the 2019 Web Summit's MusicNotes. Voice-to-midi converter Vochlea has won the competition as the music innovation of 2019. More details about the software along with other nominees within the competition, check out our dedicated blog post.
Day 4, Nov. 7. Karen Chiftalaryan presents Show4me Music Interaction Network as one of the 5 nominees at the 2019 Web Summit Music Innovation Prize.
Day 4, Nov. 7. The mic is on. Karen Chiftalaryan is about to go on stage to present Show4me at the Music Innovation Competition, held at the Web Summit for the first time ever.
Day 4, Nov. 7. All Music Innovation Competition nominees getting instructions from the organizers before the competition commences.
Day 4, Nov. 7. We are getting ready for Web Summit's first-ever Music Innovation Competition. Details on all the nominees (including Show4me) in our blog post here.
Day 3, Nov. 6. Roundup from Karen Chiftalaryan. See you tomorrow!
Day 3, Nov. 6. Interview with Anneli Rispens, Director of Content & Social Media at DDB EMEA.
Anneli was at Karen's Growth Summit talk and decided to chat about Show4me experience as a startup. She was particularly interested in the concept of mentorship to help new startups get off the ground using the experience of more experienced others.
Karen emphasized that mentorship kind of implies a bit of a passive approach to learning and can really be useful only if the mentee is actively pursuing new knowledge and trying to learn new skills. It works better when the information goes both ways and the process is educational for both parties.
Day 3, Nov 6. Show4me CEO Karen Chiftalaryan at Growth Summit on November 6, 2019. Karen presented his hexagon theory of evaluating a startup's fundability.
Before Karen began outlining his hexagon theory, he emphasized that one has to be really honest with themselves when it comes to evaluating their startup. In order to be able to use the hexagon theory effectively, you have to be impartial.
According to the Hexagon theory, there are six sides to a startup that need to be evaluated in order to determine if it's going to be attractive for investors. Importantly, all six have to be taken into account as only considering one or two sides might nudge you to a conclusion that your startup is fundable and viable, but once you look at all six, the picture changes.
The six sides are legal, market, competition, innovation, value, exit.
The legal side is all about the permits, licenses, and registrations you'll need for your project.
Market means evaluating if there is space for another player on the market – is the market saturated or there's some space left.
Competition is all about being aware of other options your potential clients have.
Don't underestimate the competition.
Innovation is about bringing something new to the table. Is your startup offering a brand new solution, something that wasn't there before?
Markets are driven by innovation.
The value side of the hexagon is just the answer to the question of value that your startup is bringing to your end-users.
Exit. Consider your exit strategy at the start, investors really do care about the roadmap from start to finish as you head out for your journey.
"The hexagon theory helped Show4me to raise $12.8M in round A," concluded Karen. "So I hope it will help your startup as well!"
Day 2, Nov. 5. Chatting with Pedro Fragoso of Nine Media Company. Nine Media Company organizes live events, which is why the conversation quickly drifted to concert crowdfunding and how Show4me toolkit enables professionals to save time and money on event planning while eliminating the usual financial risks associated with producing concerts and relying on ticket sales to return a profit.
Day 2, Nov. 5. Talking to Huawei's Jiang Shao (EU SW Strategy & Technical Cooperations). He was excited to hear how Show4me features can help fans discover new music.
Day 2, Nov. 5. Busy by our booth.
Day 2, Nov. 5. Our booth (G138) at the Web Summit startup exhibition.
Day 1, Nov. 4. Official opening ceremony. Watching a talk by Edward Snowden.
At Jaden Smith's talk on his charity work to help bring clean water to African countries.
Day 00, Nov. 2. We arrived in Lisbon two days ahead of the official opening to join exclusive pre-parties for speakers, investors and select media.