Jurgen Mangelschots from Belgium was one of the 8 entrepreneurs who participated in the first edition of the Ignition Program this year. He entered the program to improve the business plan of his company Strain2Data, ultimately creating a better scope for the space industry. Here are his experiences:
Why did you join the Ignition Program?
” I came here to adapt my business model and to get my idea to fit with the market – meaning the space industry. My company creates Structural Health monitoring solutions using IoT to support companies that create valuable insights with that data, and it is within that scope that space becomes an interesting sector to work with.”
Did you succeed?
“Yes! With the help from mentors for instance, I changed my pricing strategy. Before the Ignition Program, I had zero customers in the space industry. I adapted the pricing and it now works way better. Without the insights and expertise from this sector, I wouldn’t have known there was an issue with my pricing.”
What part of the Ignition Program stuck with you the most?
“One of the coaches in the program, Derk Schneemann, offered us a surprising way of filling in the business model canvas. I’ve attended accelerator programs before and it’s always the same. He however provided a creative approach which proved to be very useful.”
What is your key takeaway from the Ignition Program?
“I learned a lot from the book “The Mom Test” (we swear by this book – red.) With these principles in mind you can execute better from idea to concrete plan. For instance, I used to build a business and then later ask for input from (potential) customers. Next time, I will certainly do it the other way around and validate first.”
In short, how the Ignition Program helped Jurgen:
- Changed his pricing strategy to better fit the space industry
- Improved his business model
- Learned how to better execute a business idea through validation
Want to tweak your business model as well? Or want to better your scope for the space industry? Then apply to our second Ignition Program of 2020. You can do so before August 18. This 4-week program will be held on September 2/9/16/23.