Since the last public post we’ve managed to scrape together investment, £10k then £15k then £20k and £35k, together with grants from Scottish Enterprise, £14k and £8k; so around £100k in total. Nearly all has gone on development, the alpha completion and the majority on the beta which has taken 4 months to date.
I embarked on the last four months with a spring in my step. A specification for the beta laid down, and a team of coders raring to go. After my first month’s intensive definition of the specification, it has been a long and painful 3 months. Painful because I have not been allowed to give feedback! To give them their due, the coding team needed a block of time without interference.
state of the beta
There are numerous details to correct, and some issues which interfere with user’s UX, but it looks pretty much what was specified. Testing was meant to be included within development cost, but I suspect stress-testing with millions of users is yet to be done.
The plan was for the beta to run on its own, so that we could go live ourselves without any additional VC money. I will be finding out later this week what the estimate is for reaching completion.
Not being able to give feedback runs against my methodology: continuous improvement, to pivot during an ongoing project. This new team is not flexible, so they plough on despite encountering major difficulty. They never provide alternative workarounds, and I have not been invited to simplify the system. A tough experience to be sure.
status of business
The company has entered into overdraft, and extendable to its limit over the next two months. I am personally liable, which I guess is fair; the responsibility for bringing Ecosquared to the world is set squarely on my shoulders. We should be able to claim back 30% based on a government IT grant, returning us to a status of zero balance. On the knife-edge.
The plan we pursued from the outset 4 months ago was to approach a VC for £300k. £100k to complete beta to global standard, and £200k to secure business partners.
If we get £150k matched funding from SIB, and investors claim SEIS, they will end up paying £75k. £75k for a shot of becoming a global player, changing the future course of world history, and giving humanity a chance of dealing with the massive disorders that result from our current economic. And making £-billions in the process as we conduct this transition.
We need to tidy up landing page with its basic intro video, gather a pitch deck, a two-pager intro, and then it is about approaching potential investors and partners.
I have also approached a few small video production outfits. I want to record people’s response to the app, whether investor, partner or punter. The plan is to create a teaser, which may replace or supplement the intro video. With investment, we create a pilot and submit it to TV channels for commissioning — imagine a series where we demonstrate how the app is used on the ground, each episode following a group of people attempting to use it to help achieve their objective. A cross between Dragon’s Den and Gordon Ramsay’s Kitchen Nightmares.
Meanwhile, I am going to work on the Ecosquared book. I have written something over the summer, but I am fairly sure the style of it is not good enough. Would be nice to get a proper writer involved — the world is not ready for my unconventional style and approach. I must be content with presenting the math and the Ecosquared tool.
So, app to tidy up, £300k+ investment drive, documentary video and book. We are approaching zero-time!