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Project Everest Strategy- from 0 to 1

Posted by Wade Tink (Admin) Jul 14, 2017

You may have seen me contributing on Basecamp with opportunities for ventures to enter accelerator programs. This forms part of Project Everest’s strategic direction in realising successful ventures- the top half of the carrot. If you have no idea what the carrot is refer to the short video on the front page of our website.

There was a young entrepreneur in the 1860’s who entered into the oil game when it was just starting out. Instead of competing in exploration where lots of people were becoming incredibly wealthy overnight he went into an adjacent but key area; refinery. His attention to detail led him to be very successful at this involved process and, with external backers, in 1870 he incorporated the Standard Oil Company. His laser like focus on one small part of the oil business initially enabled him to dominate refinery and in time he monopolised the entire industry and became the richest person in history. Mobil Exxon, Chevron, BP are some of the companies resulting from his work. This is of course John D. Rockefeller, someone we can learn from not for his environmental impact, but rather, in creating tremendous focus and ultimate business success.

In aiming to solve social issues through business the challenge can very much become focus. The extent of the Sustainable Development Goals combined with the breadth of countries and populations within the targeted demographic (4 billion people) is akin to the oil exploration game- the opportunities are endless. How we seek to focus considering this is to concentrate on one stage of the process. Project Everest strategically is seeking to own the space of creating social enterprise start-ups and getting them from 0 to 1.

What this looks like is successfully walking through the Design Thinking process to gain product market fit and then progressing through the Business Model Canvas and Lean start-up to experiment and learn in order to prove the business model. Once an enterprise has proven traction and a solid team can be built around it the venture must ‘graduate’ from Project Everest and into the realms of external accelerators, incubators, grants and direct venture capital. This is where it goes from 1 to ∞.

This is already in action with FarmEd earning a pitch opportunity at the SEFA & Macquarie Bank Kickstarter Program as the latest development. Project Everest is engaged with Investible on funnelling ventures through their Angel investment program. On 10 August, the ventures here will have the chance to pitch to VCs, advisers and mentors from Rough Diamonds. Rough Diamonds seeks very early stage businesses for which University students can execute on. Successful ventures will have the chance to enter their accelerator program over 6 months alongside investment. They will also seek to develop the most advantageous student generated team around it.

In conclusion, externalising the acceleration of ventures is a key part of the strategic direction Project Everest is taking as it moves to drive focus on the creation of ventures out of projects. The top half of the carrot. Building a strong process to develop socially focused enterprises from 0 to 1 is where we seek to be the best in the world. In this way, we can maintain the breadth of the challenge across the SDGs but remained focus on our role in solving them.

Any thoughts, challenges or improvements on this I would greatly appreciate.

This post was edited on Jul 14, 2017 by Wade Tink

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Comments (2)

William Ashford says... Jul 21, 2017
Gold. Any rough timelines on the SEFA and Macquarie pitches?
Jimmy Bayssari says... Jul 22, 2017

Happening on the 02 August. It's only a 5 minute pitch time.

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