The startups of GPAccelerator Batch 5 recently took part in a two-day long workshop conducted by Eugene Yeo at GPhouse. The teams had the opportunity to learn as to how to build and define a product roadmap strategy designed as per the needs of a startup, with a focus on delivering product innovation and building competitive advantages in the market.
GPAccelerator in collaboration with StartupDhaka caters for the most promising tech-based startups in Bangladesh. This platform backs up the selected startups not just in terms of financial and in-house logistical resources, but through its 4 months long comprehensive boot camp, the selected teams also get to learn and work under the supervision of renowned mentors from both home and abroad.
Eugene is an expert on Product Development and Startup Roadmapping. He is a serial entrepreneur, investor and a regular keynote speaker at TM Forum events. He is also an advisor to various startups and educational institutions across Asia-Pacific. Currently, he is serving as the Group Chief Information Officer at MyRepublic based in Singapore.
Eugene’s take on Batch 5 of startups:
Eugene Yeo was extremely delighted to see the grit among the startups of GPAccelerator Batch 5. In his own words, he said:
“I have been greatly impressed by the startups in the GPAccelerator program. The founders and the team members are not just passionate but have a good grasp of the challenges they are trying to solve. There is a high potential for them to succeed, especially with the right guidance and mentorship”
Expressing his opinion on the significance of the workshop, Mustafa Al Momin, the Founder of cWork Microjob Limited said,
“It was a very informative session on Product Development Roadmap. We were able to develop our product roadmap for 3 years. We learned the Fundamentals of Startup Roadmapping and the Agile Methodology for Product Development. With the tools we have learned, we were able to chart the future of our startup in a guided way.”
Eugene focused on the following four key topics during the workshop and shared his insights on them;
- Fundamentals of Startup Roadmapping
Roadmapping helps the startups adopt their short and long-term strategic plans, envision goals and define the major milestones to reach it. It also helps the startups navigate in the times of uncertainty and turbulent environment.
- Tools for Creating Impressive Roadmaps
There are several tools the experts use for creating an impressive roadmap for startups. Tools such as 3 Horizon Model, Product Canvas and Pictures of the Future enable the startups not only to visualize but also to articulate their current strategic plans and long-term vision accordingly.
- Design Thinking for Strategic Product Innovation
Design thinking is a process to develop human-centered product in a creative way. It has four stages:
Inspiration: Inspiration comes from defining a problem needed to be solved. At the same time, it also determines the target group and the intended goal upon completion of a particular project.
Insights: Insights are extracted from the stories, behaviors and experiences of the customers. It helps generate innovative ideas and turns them into actionable insights.
Ideation: In Ideation phase of the design thinking, all the ideas are jotted down, categorized and short-listed on post-its. Finally, the best solution is chosen for prototyping.
Implementation: The final stage of Design Thinking Process includes testing the prototype based on the idea generated and maximizing the learning from customer feedbacks.
- Agile Methodology for Product Development:
When it comes to Product Development, Agile Methodology allows the developers to be adaptive to changing situations. Agile Methodology focuses on two major concepts; Incremental approach and Iterative approach. Incremental approach provides value to a customer when the final product is made available whereas Iterative approach allows developers to improvise and adjust their learning immediately in every level of product development. Agile Methodology combines both of these approaches to capitalize benefits from them and helps develop products as per customers’ needs.