Forge startup company encourages budding entrepreneurs to ‘go for it’
Sarosha Imtiaz is the co-founder of Aiva Labs, a Forge startup company that helps businesses increase their website engagement using intelligent marketing campaigns that auto-improves themselves – no coding required!
When asked about a memorable experience during my undergraduate career, I remember one event in particular – the Student Startup Competition. While it was the most nerve-wracking and incredible event, it marked the moment my adventure as a company began.
There is nothing that compares to the exhilaration of standing on stage, pitching an idea you’re passionate about to hundreds of people. In order to do well, it comes down to two things:
1) Practice…a lot
2) Be open to criticism which will help improve your story
You might be tempted to memorize your pitch…don’t. There are plenty of distractions and you are likely to mess up, making it difficult to get back on track. Also, the audience and judges can tell when you have memorized, so just keep practicing and know your story inside and out.
After you have crafted the perfect story, be sure to understand what sets your idea apart from the competition, how you are going to make money and scale your idea to the masses. The more you talk about these areas and answer those questions, the more comfortable you will be during the Q/A portion of the competition.
Unsure of the questions the judges will ask? Try watching Dragons Den or Shark Tank to help nail down those answers.
You are never alone. The team at The Forge is there to support, encourage, and deliver constructive criticism. They play a major role in helping prepare you for the big show.
There are challenges associated with presenting complex ideas to a general audience. I was presenting my marketing technology company, Aiva Labs, and it seemed impossible to appeal to everyone. How did I overcome this and craft a story everyone could understand? I kept practicing with different mentors, took every piece of feedback I received, and implemented it to perfect my story.
As McMaster’s Campus Linked Accelerator, The Forge is always there to offer resources, pitch practice and help you determine whether your idea is a home-run or needs adjustments. The Forge has been an integral part of Aiva Labs’s growth; from the moment we entered the accelerator in 2016 they have always been keen to give advice, offer space to work and provide introductions with valuable mentors.
Our advice for new startups is to GO FOR IT! Don’t be afraid to reach out to the McMaster community and use all of the resources available to you. Before starting to build, know your competitors, learn how to differentiate your idea and talk with potential customers. Make sure there is a market for the product or service you are offering.
Where are we now
Aiva Labs, the company I co-founded and pitched at the Student Startup Competition, was awarded the grand prize at Lions Lair 2017 where we competed against top companies from across the GTA. Since then, we have doubled our team size, and recently commercially launched our product on Shopify and are growing every month. We continue to leverage The Forge’s diverse roster of mentors to get the advice we need to scale our business. The Forge team has been a player in our success as a company.
On March 22, entrepreneurs will be participating at the annual Student Startup Competition. There are over $60,000 in prizes to be won as well as a spot in The Forge’s upcoming cohort.
The Forge is supported by McMaster and Hamilton’s Innovation Factory with a mandate to help support new entrepreneurial startups. Startups are housed primarily in McMaster’s Innovation Park and at a downtown storefront location on James Street North.
