StartUp42, a new start-up gas pedal with an innovative concept!

StartUp42, putting technical expertise at the heart of the business and validating the merits of its approach in the marketplace

This gas pedal is the result of a meeting between Mr. Jarjoura, a former EPITA student and at the time professor of marketing/business at the school, and the school’s desire to relaunch an incubator project. Following a benchmark of existing practices in accelerator programs (notably in the USA), Mr. Jarjoura observed that French programs were poorly adapted to projects led by engineers, and that there was a cruel lack of technical expertise in these structures. This led to the creation of Startup42, a non-profit digital start-up gas pedal under the French law of 1901, whose aim is to accelerate projects led by engineers and scientists during a 4-month incubation period.

StartUp42’s specificity is to select projects that are generally at the stage of a good idea or prototype. The aim of this incubation is to produce a first version of the product and to obtain market validation of the validity of the approach. The association makes available its resources, potential customers and indicators to validate the approach, around four main services:

• Technical expertise, thanks to privileged relations with Epita, its alumni network and the technical associations that gravitate around the school.
• Access to the innovation ecosystem: public investors such as BPIFrance, scientipôle, trade associations, large companies (…)
• Access to “meet and greet” mentoring. More than 60 entrepreneurs, executives and thematic experts will meet startups at 4 to 6 events per week, maximizing the opportunity to meet people interested in the project.
• Partial responsibility for administration, hosting, and the possibility of using services and benefits worth up to 200,000 Euros per company.

The scheme is free of charge for companies and projects, with no equity investment. It is financed by sponsors from the world of education (EPITA), major corporations (Econocom, France Télevision, Salesforce.com) and even other start-ups (OpenDataSoft). In exchange, these companies’ projects are promoted within the community run by the association. The 2013 budget was €100k, and is set to grow to €200k in 2014 through the recruitment of new sponsors.

StartUp42, small classes and selective recruitment for innovative technical projects

The association takes in two classes a year, over a 4-month period. The current class includes 7 winners, selected from nearly forty applications from a wide range of backgrounds (engineering schools, business schools, universities, etc.).

One of the essential criteria for access to this incubation program is the presence of an engineer and/or developer on the project team. Indeed, StartUp42 wishes to emphasize technical innovation, and not innovations in terms of services or usage, and therefore favors these profiles. Project leaders must also propose a digital application (soft, hard and infra) that solves a clearly identified problem. Daniel Jarjoura, the director of StartUp42, also stresses the need for a “hacker” mindset, i.e. one that is resourceful and entrepreneurial.

Beyond that, the recruitment procedure is straightforward, starting with an initial application in English, presenting the project leaders individually, the team as a whole and the project itself. A selection committee then selects the 13 best applications, which will be presented to a panel of professionals drawn equally from the world of start-ups and major corporations, and chaired by the Director of Epita.

StartUp42, a network strategy, progressive internationalization

Startup42’s development and operations are based on a network approach. The association is involved in hackathon and creative weekend events, notably through sponsorship. This not only enables it to identify interesting projects, but also to ensure a high profile among engineering and expertise schools. In this way, StartUp42 demonstrates its willingness to open up to the whole ecosystem, and go beyond the already substantial EPITA network. In the same vein, Mr. Jarjoura wishes to pursue the association’s development with a specific action aimed at R&D labs, to promote the entrepreneurial spirit within them.

The second pillar of this strategy is the development of an international approach, in particular through closer ties with the Global Accelerator Network, of which StartUp42 is the only French representative. The clear aim is to become the leading technical accelerator in Europe. Eventually, Startup42 intends to develop a system equivalent to the Erasmus program for students, to facilitate exchanges and incubation at European level, so that our entrepreneurs have a global, internationally-focused vision from the outset.

Feedback from Motionlead – Startup42’s first promotion

Mr. Querou is the CEO and founder of Motionlead, a young company in the mobile advertising sector, providing a technology for displaying animated and interactive ads within mobile applications. Mr. Querou was a member of the first class of Startup42, a structure he discovered during his studies at EPITA. Following his first entrepreneurial success, Mr. Queriou’s objectives were clear when he enrolled: to obtain personalized project follow-up, feedback and a dynamic atmosphere.

According to Mr. Querou, the results were well worth the effort, as his participation in the program helped him a great deal in terms of business development and project structuring. These four intensive months enabled him to avoid certain pitfalls, find the right market to address and reach a certain maturity much more quickly.

Mr. Querou points out that Startup42 is an incubator with a strong technical and product development focus. The aim is really to create a viable, marketable product in 4 months, over and above the traditional phases of preparing a business plan and raising funds. Mr. Querou insists on the importance of developing a low-cost prototype when launching a new product, in order to test market reaction quickly and adapt the product as feedback is received.

Following this incubation period, Motionlead was able to validate the prototype on the French market, and is now in the process of signing contracts with key accounts in the market. At the same time, great opportunities have opened up for the company in the U.S., where Mr. Querou will be prospecting for 3 months starting in January!