ATLANTA — Flashpoint @ Georgia Tech is now accepting applications for its 6th Batch. Flashpoint works closely with founders to enable them to think clearly about their businesses. It is unique in implementing startup engineering, a business creation and innovation process developed by Dr. Merrick Furst at Georgia Tech. The process is designed to help startups overcome the most common cause for failure: that no one buys their products. Flashpoint works closely with startups to discover what customers cannot not buy.
Since it began in 2012, Flashpoint has developed a strong reputation for producing promising startups. Its companies have attracted more than 150 MM in commitments from angels and investors, including ff Venture Capital, Kleiner Perkins, Andreesen Horowitz, Sigma Partners, Bessemer Venture Partners, and New World Ventures. One recent example is Pindrop Security, an enterprise phone security platform. In February, the Flashpoint graduate completed a 35 MM round of investment led by Institutional Venture Partners.
Such investments are one indicator of the traction Flashpoint helps its companies to gain. Fred Blumer, the CEO and Founder of Vehcon, described the value of the experience by saying, “Flashpoint saved me a year of time and millions of dollars in development costs.” The key to this savings is the Startup Engineering approach that Flashpoint teaches.
Created by Flashpoint’s founder, Dr. Merrick Furst, Startup Engineering is a framework that identifies authentic demand and builds scalable companies to satisfy it. Startup engineers take a “problem first” approach to identify inadequately addressed pain in their customer’s personal or professional lives. They generate theories about customer improvement goals and the constraints that prevent existing solutions from meeting them. They work toward actionable truth by testing to disconfirm their theories, modifying them, and retesting. The result of this work is better startups that move faster.
Flashpoint’s next batch will begin in September and last about 6 months. Applications submitted by July 17, 2015 will be considered for the first interview round which will be conducted in August. Interest sessions are being held on July 7 and July 15 for those interested in learning more. For more information, please visit: