Chris Dixon has sold a company to eBay for $80 million. He is a venture capitalist who evaluates ideas for a living. This is his checklist for what a good idea looks like. We contrived to have Cyburban pass 6 out of 6 with flying colors. Haha.
1. It looks like a bad idea. Nobody will ever run holding a cellphone.
Cyburban: They already do. There are existing analog urban races where players bring their phones for Internet research, compass, timing, and calculator functions.
2. It looks like a toy. Toys are not serious and games do not solve real business problems.
Cyburban: Event marketing is a big & serious industry. We bring digital innovation & efficiency into a linear and previously unscalable business.
3. Functions are already provided by existing products.
Cyburban: We plot and time checkpoints then tally scores. The integration makes sense in competitive events.
4. It looks like a product made by hobbyists.
Cyburban: The idea came from an urban race with 12 teams of 3 members each organized with a staff of one. In 2008, it was done with the help of Internet shops. Now, you can do it with mobile gadgets.
5. It breaks social norms.
Cyburban: We envision Cyburban to help usher in wearable computers. When was the last time you saw a stranger wear their computer outdoors?
6. It has encountered problems and opportunities through direct experience.
Cyburban: Our pilot event was a corporate team building activity with 487 participants. It was problematic, and it showed us the opportunities to provide better value in the next events.
We are now officially fund raising for our seed round. Since we got registered in Septemeber 2013, the team has only been working out of their own pockets. After the success of our pilot, we now need financial infusion to support our commercial growth to be able to produce events with 2 to 5 thousand participants.