Innovation Works Cooks Up Startup Recipes as a DIY Guide to Getting to a Minimal Viable Product and Beyond
Pittsburgh, PA – November 8, 2021 – Startup Recipes is a guide to efficiently build a startup company without requiring a lot of initial capital and focuses on getting from idea to Minimum Viable Product (MVP) and poised for growth. Startup Recipes was developed by the team at Innovation Works to help address the universal chicken and egg dilemma: how can I start a company, prove market demand and get some traction to attract early customers, investors and talent when I don’t have many resources and I’m not sure of the specific step to take? Voila – Startup Recipes. The Recipes are a do-it-yourself guide which entrepreneurs can dip into for the basic information they need and inexpensive or free resources to get started. To see the recipes, go to https://startup-recipes.innovationworks.org/
For Global Entrepreneurship Week, 20 Startup Recipes are being launched in a free and accessible format that cover some of the most basic questions on how to research, create and launch a business. And though the Recipes are written for technical companies, the business doesn’t have to be in technology to benefit from some of the universal advice and tactics. Startup Recipes were created to help entrepreneurs bridge geographies, funding levels and other barriers that might be in the way of success. Even repeat entrepreneurs can find something applicable that helps get them to the next stage of growth. More Startup Recipes are in the ‘test kitchen’ right now and will be added soon and on an ongoing basis.
Jim Wrubel is a main author of the first Recipes and one of Innovation Works’ portfolio executives. In addition to working with dozens of startups at a time, Jim was formerly a CTO of a global tech company and worked on many of the issues himself that are addressed in a Recipe. Jim said, “There’s no shortage of strategic advice for founders out there. What I felt was missing is the tactical side.” Jim gives an example, “Even something as seemingly simple as ‘register a domain name for your online presence’ can be a complex process. What if my company name is taken? I see companies using domain names that don’t end in .com. Should I do that?” Wrubel sums up, “Startup Recipes is the missing ‘how-to’ guide for entrepreneurs. It’s not culinary school, it’s for those of us who are reading the directions on the back of the box of mac & cheese while the water’s already boiling, trying to get a meal ready so we can move on to the next 900 things we need to get done.”
The tools mentioned in the Startup Recipes were selected because they offer a combination of broad features at low cost and many have free tier solutions to ensure that every entrepreneur could get good results, cost-effectively. The tools are not meant to take the place of other professional advice or expertise, which is often the next step in scaling up the company. For flavor, here’s the Startup Recipe on registering a domain name:
There are also over 200 links on the IW resource page of other tools, best practices, sample templates and reference documents for entrepreneurs.
According to Rich Lunak, president & CEO of Innovation Works, “There are so many great business ideas coming to light in Pittsburgh right now – from students winning competitions to people exiting their old job to address a critical gap in the market to seasoned entrepreneurs working on company number two or three.” Lunak continues, “There is a lot of entrepreneurial enthusiasm, but not enough resources to get all these worthwhile ideas off the ground. Startup Recipes is an effort to democratize entrepreneurship and give everyone, regardless of background, the basic ingredients they need to bring their startup concept to life.”
To learn more about the Startup Recipes, this quick video explains them further https://vimeo.com/642466747 or go to the Innovation Works website for all 20 Recipes
with more being added all the time.
CONTACT: Terri Glueck
About Innovation Works: Innovation Works (IW) is the Pittsburgh region’s most active investor in seed stage technology companies and one of the nation’s most active at this early stage. Since 1999, IW has invested $113m in 730 software, hardware and life sciences companies while providing portfolio companies tailored mentoring and expertise to help them reach the next stage of their growth. In addition to investment, IW works with founders to expand their skills and widen their connections to early customers, strategic partners, potential investors and other resources. IW is part of the statewide Ben Franklin Technology Partners representing Southwest PA and is funded in part by the Ben Franklin Technology Development Authority.