What is Athena?
Athena is an ancient Greek goddess particularly associated with wisdom and handicraft. Just like this web-based application that aims to help startups in decision making process to steer their path for success since the researchers attemps develop an automated market validation to validate your product/service concept using the Startup Company Business Concept Validation Methodology or SBCVM that will assess and validate your product or service concept on 4 dimensions indicated below:
Customer
Customers are the most valuable asset of your business because they are the one who generates revenue and purchases your products and services making customer development a core part of the business process.
(Blank, Steve. and Dorf, Bob.. The startup owner’s manual. s.l. : K & S Ranch; 1 edition, 2012)
Market
The market is a critical determinant of firm behavior and industry performance. These can impact the tactics, strategies, and decisions a startup will make and will possibly indicate the success chance of a startup based on the
target market.
(Moore, Mark. MOT Lecture Notes for Managerial Economics. s.l. : SFU, 2011)
Product or Service
The Minimum Viable Product (MVP), Unique Value Proposition (UVP), and innovation type enables startup teams to measure the feasibility of implementing and selling their product or determine the adoption rate of their services and
vice versa.
(Eldin, Hazim Sharaf. SBCVM Methodology, 2012)
Business
The goal of business dimension is to ensure that the startup makes sense from a business and profitability standpoint. Steve Blank defines this as a way to “describe how your company creates, delivers, and captures value" or in
other words, how your company makes money.
(Blank, Steve. Whats a startup first Principles,
2010)
"Just like the standard practice of making RRL or Review of Related Literature in thesis, the researchers believe that the best business ideas are validated by supporting literatures and research before the product
or service can be fully developed and deployed. For us, you should
Test before you invest."
Frequently Asked Questions
Relevant information about the automated market validation web-based application. You may ask your questions sending us a message through the contact forms below.
What is an automated market validation?
According to Harvard Business School, Market validation is the process of determining if there’s a need for your product or service in your target market. Validating these concepts enables you to reasonably
predict whether people will spend to your product or service, and whether your business will be profitable. (Harvard Business School (HBS). What is Market Validation?, 2020)
This study attempts to automate the process by creating a validated model based on the SBCVM and
a web-based application to validate your product/service concept.
Who can benefit from using an automated market validation?
Theoretically, Young enterpreneurs, Student practicioners, and Startup founders that don't have strong business skills can leverage our automated validation.
According to the
World Health Organization, there is an increased health risk from engaging in phyisical community engagements in these trying times of pandemic1, making market validation challenging in some areas, in tight lockdowns and/or
from strict government regulations imposed on business entities. (1. World Health Organization. COVID-19 Global Risk Communication and Community Engagement Strategy, 2020)
How to use automated market validation?
The process consist of 3 basic steps:
1. Select startup type (Social, Tech, Scalable, Small)
2. Answer 32 questions from the 4 dimensions (7-Market, 11-Customer, 7-Product/service, 7-Business)
3. Download and share results ! (You may also send us your feedback here)
After anwering, relevant supporting sources are shown as to why these are the results and to guide users in their next steps on either pursuing, pivoting or modifying their product/service concept.
Data privacy and Confidentiality
This web-based application does not store any personal information. Only answers and results from the market validation provided by the users can be downloaded and will be deleted once the user exits the website. You may visit our terms and conditions here.
References & Resources
Here are some related external resources and references that helped shape this automated market validation system. Click on each tab to learn more information regarding the area.
SBCVM-based market validation spreadsheet model
Pre-test model to validate the 4 dimensions and test basic functions using google spreadsheet as a base model for constructing the web-based application.
Market Validation for Startups in Developing Economies References
Further Reading and References to related Literatures used to support the study, including the poster!
Model tester profiles and respondents
You may visit the business of our respondents by checking their facebook page, or contact them for more information about their business. (promoted with consent.)
Github code repository
The source code for the algorithm are stored in Github repository. You may add your contribution to optimize or share your suggestions.
The researchers
How can we empower you today?
Introducing the masterminds behind the creation of Athena. We are a team of professionals and graduates who have successfully completed our BS-Information Systems program at Mindanao State University - Iligan Institute of Technology. With great enthusiasm, we have developed a web-based platform specifically designed to assist startups on their entrepreneurial path. Stay connected with us as we revolutionize the startup landscape.
Marlou Xerkxex Rentucan
Researcher & Senior Development team lead
Niño Adam Racaza
Researcher - Back end developer
Jay Joshua Largo
Researcher - Front end developerResearch Adviser
This thesis project is not possible without our beloved research adviser, steering the best direction for the project in these trying times of the pandemic crisis.
Lemuel Clark Velasco
FAB LAB Mindanao DirectorContact
Found any bugs? Please share your experience in using our system by reaching with us using the contact details provided below. Your participation and feedback greatly helps us to learn and improve your experience.
Our Address
Andres Bonifacio Ave, Iligan City, 9200 Lanao del Norte
Email Us
marlouxerkxex.rentucan0505@g.msuiit.edu.ph
fablab@g.msuiit.edu.ph
Call Us
+63906 151 0249
221 4050