OC3 - Preparing Evidence for OC3

Stage 1
1

I have a startup that provides an ERP Solution for Enterprises. I started off the software development in 2023 January. The software was ready in December 2023. I incorporated a company in January 2024 and have since been providing the software solution to business. I have a current MRR of £1,300.
For evidences,
I have Product Prototypes, Wireframes, Figma screenshots, architecture diagrams, etc. I also have Incorporation Documents
Can i use this to evidence for OC3?
Are the evidences sufficient?
@Francisca_Chiedu
@pahuja
@Maya

2

Hi @Siegfried_Edzordzi_S

OC3 is about technical, commercial and commercial impact. This example will fit OC3 if you can supplement with information of founding the company, product development, launch and more importantly impact. You can also add additional forecasts of revenue and scale.

You need 6-10 evidences in total across 3 criterias for overall sufficiency (2 minimum in each criteria).

3

How do you want to evidence this? £1300 is quite small

1 Like
4

@Francisca_Chiedu, So my evidence list for OC3 is
Incorporation Documents to evidence company Ownership

Product Prototypes,
Wireframes,
Figma screenshots,
architecture diagrams

Do these evidence significant entrepreneurial contributions?

I intend to also add snippets of statistics on the product dashboard.

For the £1300 MRR, I could present Bank statement of transactions for the last 3 months. I aim to attach some projections on usage of the software.

Are these sufficient to prove Significant Technical and Entrepreneurial Contributions?

5

For OC3, since you need to show commercial/technical impact, you should aim to show a variety of metrics which prove how the product grew and what contribution it made to the users.

Product prototypes etc. only prove that you developed the product, but don’t show the impact.

Some metrics you could show additionally would be growth % in the MRR with each month, any new customers you acquired coz of the new product, how persistently users are using the product (weekly/monthly usage metrics), if your product led to any money/time savings, then highlight that too.

1 Like
6

Thank you @cosmic.wilderness,

For OC3 my evidence list now stands at the following;

  1. Incorporation Documents to evidence company Ownership
  2. Product Prototypes, architecture diagrams,
  3. I want to also demonstrate traction by User numbers. 150 users, 81 paid and the rest are within trial.
  4. Two customer testimonials demonstrating the impact of the product on their businesses.

Are these sufficient enough?