Kick-starting an IT based business
The last few weeks have proven to be quite hectic for University of Moratuwa undergraduates. They’ve been busy as bees working towards the much anticipated Massachusetts Institute of Technology (MIT) Global Start-up Lab programme. In its third year running, the programme captures the essence of kick-starting an IT based business enterprise by providing the right guidance and incentives.
Out of those busy bees, Asma Naphiel, Isuru Gunathunga, Nipuni Perera and Prasan Yapa are four undergraduates -from the IT and Management faculties- who have founded BeeHex Technologies – a start-up aimed at providing service based solutions for customers.
Their main product -Click’N’Pick- is essentially a website that would provide services in the field of hiring and renting.
“The fundamental behind Click’N’Pick is that people will be able to hire and rent services online at ease,” says Asma. “Currently we have implemented this by registering tutors on the site. Thus children who want to be tutored can go to the site and pick a registered tutor according to their criteria,”she adds. The team tells us that as of now the website is nearly completed and will be fully-functional by August 1- where they will present Click’N’Pick to the panel of judges from MIT.
A start-up is a business venture with a low bootstrapping cost, being backed by one or more investors who envision the venture growing from strength to strength. In the recent past, Sri Lanka has seen quite a number of start-ups blossoming under the guidance of mentors. The mentors for the BeeHex group were Madu Ratnayake, Vice President of Virtusa and Mafaz Ishaq, Director at Calamander Capital, who also serve as angel investors.
They are quite aptly termed ‘angel investors’ just that, by providing financial backing and resources for the upcoming start-ups.
“Our product goal was oriented in six dimensions; simple, strategic, smart, systematic, social and sustainable”, says Isuru, who is confident that their final outcome will meet all these ends. “Although there is already a good market potential for buying and selling websites, we realize that there was a gap when it came to hiring and renting service websites,” he said.
Thus the group capitalized on the dearth of such websites and came up with Click’N’Pick. Further describing the product, Asma mentions that it works by virtue of a customer visiting the site and selecting certain criteria for a service.
For example, a student would enter the subject that he wants to be tutored in and the days that he is free. A search would then reveal tutors who teach his subjects and the corresponding days that are free. Currently, the service is confined to locate tutors available on the site, however the group plans to expand into other verticals of repair, event, entertainment services and product rentals. Click’N’Pick provides a two-way platform for service providers and users, while an Android mobile solution component is also available.
Their biggest challenge so far has been to break into a relatively new realm of online services without a solid background in marketing.
“We know the technical aspect right to the core, but we needed assistance when it came to putting the product out there and gaining user feedback,”says Prasan, adding that this challenge was overcome with the help of their mentors.
At the end of the seven week intensive MIT Global Start-up Lab Programme 2013, they will face-off with five other groups in a bid to win the praise of the adjudicators, but the group behind BeeHex Technologies believe that they hold the edge.
Check them out on their facebook page: BeeHex Technologies
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