Turning a good idea into a successful startup is challenging. It’s crucial to understand the market you are aiming for, the wants and needs of the audience you are selling to, the most attractive features of your product compared to competitors, and the competitive environment. As a leading global XR studio, we cracked this code and built a few successful startups. For this reason, we offer expert support to startups looking to grow their businesses.
The startup development process covers the whole ecosystem in which startups grow, from the idea’s inception to the actual use of the final product, including its improvement and development. And this process only happens after a while. On average, a startup takes up to 3 years to turn a profit. And success is never guaranteed. More than 90% of startups fail, and the reasons are plural, but the most obvious mistake is misjudging the market need for the product. Sometimes the market needs are there, but startups need better marketing to help their audience buy what they want. Also, there might be several other problems, such as financial issues, poor teams, and technical, operational, or legal issues.
For this reason, many startups opt for outside help from other corporations and successful businesses. In the early stages of a startup, outside help from companies could be obtained through startup accelerators or incubators. Whether your startup needs an incubator or an accelerator depends on the stage you are currently in. If you already have a product and a business model, you could use the help of accelerators to grow your startup. On the other hand, if you all have an idea, startup incubators can help you build a business model and a company. In summary, accelerators primarily focus on scaling a business, while incubators focus on innovation.
There are numerous examples of successful startup development, such as the projects by our studio, which have turned innovative ideas into successful businesses.
LIFEBOARD – Virtual Board
Lifeboard is a unique platform that connects digital vision boards with guided meditation and personalized affirmations in one virtual reality to help users achieve their goals. Due to its interactive nature, the project introduces the concept of virtual reality into the practice of manifestation, thereby enhancing the learning process and memory recall. In this project, Yord helped create the world’s first virtual reality vision board, enabling users to create their yearly vision boards and focus on positive affirmations.
Each part of this fantastic journey takes place in a separate virtual reality room. The room is fully customizable, with different environments and various song choices. Through his project, we created a unique solution for Lifeboard VR, which helped scale their business and was one of the first projects to combine virtual reality tools with a mental health philosophy. We created a path to fulfilling dreams while staying mindfully connected to the essential aspects of the user’s life.
MOYA – Digital Retailer
MOYA is a project created by experts at Yord studio to revolutionise the immersive retail experience completely. MOYA is the first cross-metaverse retailer that connects brands and consumers in a digital experience through multiple AR and VR metaverses. With our studio’s help, Moya is creating a digital future that is authentic and accessible. It gives users opportunities for sustainable, endlessly creative, and unique digital ownership.
We saw great potential in the metaverse, especially in e-commerce. Metaverse presents itself as a new battleground for e-commerce, opening up a new challenge for retailers and brands. Lack of scalability and interoperability for digital assets remains a significant challenge for immersive digital retailers, creating a need for a standardised commerce channel to reach customers across various metaverses. This is where we saw a need for MOYA.
MAINWARE – Smart Maintenance
Mainware became a successful startup that built a business around a unique concept of industrial digitalization. MAINWARE is an innovative solution for maintenance 4.0 – a complex and unique software that connects the best practices from maintenance, project management, industry 4.0, VR/AR, and artificial intelligence (AI) – it works on chapter design and delivery of automation for system integrators, digital interfaces for OEM machines, and complex maintenance management for manufacturing companies.
Mainware specializes in chapter design and automation delivery for system integrators, digital interfaces for OEM machines, and complex maintenance management for manufacturing companies. Mainware is officially Yord’s technical partner, creating solutions that help factories modernize their products and machines.
Regardless of which industry you choose for your startup, the competition is fierce these days—finding a real problem that your product fixes is the most significant challenge, and a place where most startups fail. On the other hand, there might be a real problem to fix in the market, and you might have the perfect solution, but you may lack the capacity to execute the idea. This is where outside help might save your reasonable opinion.
If you have some good ideas or already have a business plan but lack the skills to execute it, consider hiring Yord to help develop your startup!
