Thank you all so much for your contributions in helping those of us that are preparing to become one of you.
Please I kindly request a company owner who answered Optional Criteria 1 as seen below to advice me on the other documents to present as evidences besides the ones listed by Tech Nation.
1) How do I demonstrate that I have a proven track record or examples of innovation in the digital technology sector as a founder or senior executive of a product-led digital technology company or an employee working in a new digital field or concept?
Below are the evidences listed by TN.
Examples of relevant evidence include:
Evidence of innovation/product development, proof of product in market and associated traction through revenue.
Evidence for each business should include your last set of audited accounts, projections for current financial year and articles of association.
Evidence of domestic and/or international sales should show customer numbers for each country in which the company is operating, including a ranking of your distribution channels with a breakdown of when these sales were achieved for each channel (i.e. online, physical retail, 3rd party distributors, resellers etc.).
I am a company owner and this is one of the criteria’s I have chosen to answer.
Evidence of innovation/product development, proof of product in market and associated traction through revenue.
I have 6 different digital innovations/products although I don’t really understand what they mean by proof of product in market
Evidence for each business should include your last set of audited accounts, projections for current financial year and articles of association.
For bullet point 2, my products are relatively new in the market, except one. So no audited accounts for each but my company has an audited accounts and articles of association.
Evidence of domestic and/or international sales should show customer numbers for each country in which the company is operating, including a ranking of your distribution channels with a breakdown of when these sales were achieved for each channel (i.e. online, physical retail, 3rd party distributors, resellers etc.)
For bullet point 3, I have
Evidence of domestic sales
Customer numbers for only one country in which our company is operating,
For special ranking of our distribution channels with a breakdown of when these sales were achieved for each channel (i.e. online, physical retail, 3rd party distributors, resellers etc.), We only have the online platform from where payment are made.
However, the product that bring in the huge is made directly into our bank account. Its been used by our client since 2018 till date and every month payment is paid directly into our bank account.
I am also looking for additional ideas that I may have but do not know it’s and idea or tangible evidence.
Proof of product = is the product live in the market? Eg. if its an app, is the app already live and used by real users? If its a product feature, is it live? Since you mention the product has revenue already, it must be live. Try to see if there can be more relevant metrics in addition to revenue eg. #orders, #repeats, #visits, AOV, etc
Is the company new or the products new? You can still show company registration, audited accounts, financial year projections for current year and articles of association. Even if the products are new, you can show projections.
Thats fine if you have only online channel. Can you show number of cities within the country? Or number of postcodes?
Position your big revenue from the product since 2018, explain about the client - if the client is also a big client in digital technology, explain about them also so it demonstrates the kind of big clients your product is used by.
Proof of product = is the product live in the market? Eg. if its an app, is the app already live and used by real users? If its a product feature, is it live? Since you mention the product has revenue already, it must be live. Try to see if there can be more relevant metrics in addition to revenue eg. #orders, #repeats, #visits, AOV, etc
Answer:
I have 4 products in the market and they are all SaaS products.
MyChurch MIS with URL https://mychurchmis.net/ is an enterprise church management system built for single-tenancy (single large church use). This is currently being tested by a church with https://hicccms.mychurchmis.net/. No payments yet.
ChurchKit with URL https://churchkit.net for small to medium size church management system built for multi-tenancy (for multiple churches). Application login URL is https://my.churchkit.net/. Production version was released this year and it currently has about 90 trial users and about 6 premium users that has made payment.
BizRunTool with URL https://bizruntool.mcariel.com/ was built for small to medium size businesses. Its currently in it’s MVP stage. No actual users yet.
ProMERS (a by-product of RBMERS) with demo URL https://promers.mcariel.com/ was built for a client from 2020 and in 2022 the project ended. It brought in a one time substantial amount though.
Is the company new or the products new? You can still show company registration, audited accounts, financial year projections for current year and articles of association. Even if the products are new, you can show projections.
Answer:
One of my companies (mcariel.com) is just 4 years old. The other company is 10 years old.
For my products, BizRunTool is the most recent. Just about 4 months old. MyChurch MIS is about 2 years and ChurchKit is about 1 year plus.
That’s fine if you have only online channel. Can you show number of cities within the country? Or number of postcodes?
Answer:
From their addresses, their cities can be gotten. We don’t use postcodes here even though we have them.
Position your big revenue from the product since 2018, explain about the client - if the client is also a big client in digital technology, explain about them also so it demonstrates the kind of big clients your product is used by.
Answer:
It’s big client but not in digital technology. Its a government institution that leverages on technological platforms