Before working together at Lean Startup Machine-Newark (LSM-Newark), Nathan Kwadade, Romulo Reginato Gabriel, and Rafael Moura, had never met. At the event, held on November 7th -9th, they connected due to their interest in entrepreneurship and created ParkHere, an innovative new startup. But they are not only embarking on starting an innovative new company; they have embraced a methodology that has swept through startup communities across Americaa methodology that is meant to significantly improve the chances of success for venture startups that have a high risk of failure.
ParkHere is a mobile service that connects drivers to available parking spots in their area. Users can type in their location, and the service finds residents and businesses with available parking that the drivers then will pay a negotiable rate to park, which is both a cost savings and an added convenience.
However, there’s something unique about the way that the team has developed their startup idea. They have focused extensively on vetting their startup idea through the use of resources and challenges, starting with LSM-Newark.
A few months ago, American Entrepreneurship Today ® covered LSM-Newark Weekend, a three-day challenge that focused on startups gaining insight on how to effectively develop their ideas. ParkHere won the event, chosen based on their idea and their adherence to the methodology over the course of the weekend.
“At LSM-Newark, we learned to find what your customers want, not what you want,” said Kwadade. “We’re very focused on getting constructive criticism from the community.”
“We’re in the process of validating the idea of ParkHere through public resources,” said Kwadade. “Instead of spending $30,000 of our own money, we’re spending weekends with experts who can save us money and help develop our company during the process.”
Kwadade said that his philosophy regarding the startup is to preserve his savings, while pursuing opportunities that will provide the startup with resources to move forward. With this in mind, ParkHere then entered the Newark Innovation Acceleration Challenge.
By winning LSM-Newark, they were automatically entered as a semi-finalist in the Challenge. Their startup was judged based on a number of criteria by invited guest panelists, and they were chosen as one of four winners in the Community category and received $3,000. In addition to the prize money, they will receive ongoing one-on-one mentoring to help further validate their idea and will also participate in this summer’s business accelerator program offered by the NJIT EDC. Again, another opportunity to validate their concept.
Now the ParkHere team is seeking other startup competitions, and will find out in January if they’re accepted to their next. Kwadade said that now that their idea has received a good amount of validation, his plans are to persevere and stick with itas does his team members.
“My advice is to take risks, step out boldly, and give it your all,” said Kwadade. “Follow your heart and follow your passion.”
That philosophy began when Kwadade was sitting home, pondering whether to even attend the initial LSM-Newark weekend. He now applies that philosophy to the methodology he learned, and will use it to pursue success. Winning the first two competitions they entered has taken them a long way.
To find out more about ParkHere, visit signup.parkhere.com.br.
