|By||http://e27.cohttp://e27.sg/2012/07/19/get-lean-with-lean-startup-machine-happening-in-singapore-this-august/||| Jul 19, 2012 | Events|
Updates: As the official partner for Lean Startup Machine, we will be offering you a 10% discount code. Use the promotional code “lean27″ to redeem the discount code when you sign up.
Wrong assumptions from wrong hypothesis can kill a startup. To put this into perspective, if you are building a product which you think the market needs, but in reality its the other way round, you would be wasting a lot of valuable time and resources. The solution? Test and prove the validity of your hypotheses in the fastest possible way. This is advocated and known widely as being “lean”, and made popular by Eric Ries who started the whole Lean Startup movement through his book The Lean Startup. The Lean Startup is a term/process coined by Eric Ries, which involves rapid, iterative prototyping to test assumptions and to develop a product that customers actually want. Of course, several movement soon sprouted and one of it is the Lean Startup Machine, a series of workshops dedicated to help startups test their hypotheses.
Lean Startup Machine(LSM) is focused on helping startup founders learn the process and tactics to identify which ideas are worth pursuing without requiring an actual prototype. It is a for-profit social enterprise with the mission of advancing the science of entrepreneurship to better utilize human potential. How does it work? LSM is an intensive three-day workshop which teaches the various Lean Startup methodologies and their applications to those that attend. The workshop series start with a series of product pitches and team formation, after which each team would develop their own problem hypothesis and a series of assumptions.
Here’s the fun part: After defining a problem, solution and core assumptions, each team creates an MVP, or “Minimum Viable Product.” The goal of the MVP test is to “Get Out Of the Building,” speak with real customers and to collect cash or non-cash currency which serves as validation or invalidation of the riskiest assumption.
So how is it different from Startup Weekend (SW)? A discussion on Quora addresses this very accurately: SW is about building products, LSM is about validating business models. SW happens inside the building, LSM happens outside the building. SW is about product development, LSM is about customer development. There will also be no programming involved and at the end of the workshop, expect to walk away with valuable lessons and takeaways on the process of lean startup.
e27 will be working with the LSM facilitators to bring a series of LSM workshops to Asia Pacific. For the first stop, LSM will be held at Singapore on the 31st August to 2nd September. The workshop is limited to 50 people to ensure that participants get the best out of it. Some of the mentors whom will be around include Carl Coryell-Martin from New Context, Gwendolyn from SGE, Efraim Pettersson Ivener of eKita and our very own Mohan Belani, director of e27. Limited early bird tickets are now available at S$150 and you can register for your spot now. On top of the early bird tickets, you can also stand a chance to win two free ticket by signing up at http://singapore.startupyourcity.com/ which provides you with a unique referral url. The person whom referred the most number of friends before the 1st of August is entitled to two free ticket to LSM worth S$500.
Date: 31st August – 2nd September
Time: 6pm (31 August) – 8pm (2 September)
Ticket Price: S$250 (Full Price) S$150 Early Bird