New Israeli startup offers wouldbe entrepreneurs the ability to create a founding team, helping them to bring ideas to fruition
If you have a startup idea and you want to make it a reality you have to go through the complex process all startups go through: Idea formulation, finding partners, programmers, financiers, business development people, marketing processes and the final launch of the product or service. A young startup company called Joyinapp allows entrepreneurs with zero technological knowhow to bring ideas to fruition using a platform for assembling teams from all over the globe.
Platform for assembling your winning team
The Joyinapp platform is intended primarily for two types of audiences – the first is the idea people who failed to bring their idea to fruition for a variety of reasons including lack of technological knowledge, lack of understanding development, management and/or cash flow issues. The second are professionals seeking a way into the industry – whether we’re talking about people who work full time or freelancers who are looking for another revenue channel.
The idea for the platform came from Yogev Ben-Tov during a meeting of entrepreneurs in Silicon Valley one day while listening to a seasoned entrepreneur who spoke about his experiences in his chosen profession. “When audience members met up with the entrepreneur after his talk and asked him questions, one answer stuck out in my mind, ‘You’re an entrepreneur, aren’t you? You’ll figure it out.’ I thought to myself; what about all the other people that do not define themselves as entrepreneurs? Your best friends, your mom and dad, people around you, they have good ideas? This thought eventually turned into Joyinapp to prove that people who are not entrepreneurs at heart can still bring a working product to market. They do not have ‘To figure it out’.”
Before we get started
Any user interested in pushing their idea has to go through several stages before recruiting a team. The first step is the publication of the concept into the system. Every idea gets its own rating page that the developer can share on a variety of social networks and receive scored feedback on the idea. To move to the next level the idea has to get at least 30 reviews with a grade of 3.5 or higher. The system requires the user to input a competitive rival service or product and to review the pros and cons of the competition for purposes of market study and analysis and understanding the challenges facing the idea when trying to bring it to market
After these first steps the user can select Product Manager offering them a platform to bring the idea to the execution stage. The mission of the Product Manager is to assemble all the other members of the team (programmers, designers, marketers) with the job of the PM being to explain to the team their vision, and to serve as a coordinator between every other member as each one explains what they need to do to make the idea happen. Professionals with specific programing knowledge and a few free hours during the day can offer themselves to appear in lists. Those who pass a screening process that ensures their relevance are entered into the system.
If everything goes well and revenues begin to flow, earnings are divided between the team members and Joyinapp. A concept gets between 30-50% of profits (depending on if the PM decided to use team members for marketing or not), and each team member gets ten percent – including Joyinapp. “Unlike competitors such as Elance, Freelancer.com etc., we offer our users the ability to create a full team that is uniquely theirs (not just an outsourcing firm) with whom they split the profits with.” According to Ben-Tov, Joyinapp has users from over 25 countries and dozens of ideas being added every day to the system.
In addition, after a team is formed and just before they start work, Joyinapp charges an investment sum of 400 dollars that is divided between the company and team members to provide an initial motivational incentive – skin in the game. During the beta run of Joyinapp the company is offering referral full discounts of this initial investment.