Turning a good idea into a successful startup is a challenging job. 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 the other ones on the market, 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 help to startups looking to develop their business.
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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 three years to 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 may be there, but startups need better marketing for what they want the audience to buy. Also, there might be several other problems, like finances, bad 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 done 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 are mainly there to scale a business, while incubators focus on innovation.
There are numerous examples of successful startup development, like the projects by our studio, which turned innovative ideas into successful projects and 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 to the practice of manifestation, which enhances the learning process and memory recall. In this project, Yord helped to create the world’s first virtual reality vision board in which users create their yearly vision boards, which allow them to focus on positive affirmations.
Each part of this amazing 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 managed to create a unique solution for Lifeboard VR, which helped to scale their business and create one of the first projects that combined the tools of virtual reality with the mental health philosophy. We managed to create a path of 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 in Yord studio to completely revolutionise the immersive retail experience. MOYA is the first crost-metaverse retailer that connects brands and consumers in digital experience through multiple AR and VR metaverses. With the help of our studio, Moya is creating a digital future that is authentic and accessible. It gives the users opportunities for digital ownership, which is sustainable, endlessly creative, and unique.
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 digital asset interoperability is still a significant area for immersive digital retailers, which creates 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 managed to build 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 works on chapter design and delivery of automation for system integrators, digital interfaces for OEM machines, and complex maintenance management for manufacturing companies. Mainware is official Yord’s technical partner, creates solutions that help factories maintain their products and machines modernly.
Regardless of which industry you choose for your startup, the competition is fierce these days—finding a real problem that your product fixes are 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!
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