Start-up pre-accelerator, Pitchblak is launching a new service to assist small business owners in developing new products.
Over the past four years the pre-accelerator has helped over 100 entrepreneurs to secure investments and solidify their ideas, and now they are turning their attention to Australia’s small business owners.
“After more than five years building our own startups, and the past three helping other entrepreneurs build theirs, we’ve got a good view on where the big opportunities sit,” Pitchblak Co-Founder and CEO Adrian Osman said.
“One of our greatest discoveries was realising that small and medium business owners have a huge opportunity to spin-off a scalable asset; be it an app, online business, or hardware product.”
Describing small to medium business (SMB) owners as the ultimate entrepreneurs, Osman said SMBs were at a distinct advantage over their start-up competitors.
“In addition to domain expertise, business owners have established connections for potential investment and distribution; there’s existing cash flow to cover the costs of creating the asset, and they have the knowledge of how to run and grow a team,” Osman said.
Pitchblak Brand Ambassador and Shark Tank investor Dr Glen Richards (founder of Greencross), described the business spin-off model as a winning strategy.
“This business spin-off model has produced numerous big-name companies globally, including workplace messaging app Slack [formerly Tiny Spec] – which started as a failed gaming company frustrated about internal communications,” Richards said.
“Pitchblak has the best model I’ve seen for launching new ideas; I expect we’ll see some game-changing new Australian businesses born from this new venture.”
Osman said Pitchblak is currently working with six Australian independent businesses to produce scalable assets.
“They’re all established and successful independent business owners who have identified the potential for greater efficiencies across their businesses,” Osman said.
“Rather than find solutions simply to solve their immediate problems, we help them to create scalable assets with broad market potential.”
For business owners seeking to partner with Pitchblak, Osman said it was a nine-month journey, from initial meeting through to asset launch.
“We take care of everything, from market landscape research to brand development; UX [user experience] product design to technical scoping. We also help the owner to raise any additional capital needed to build the product,” Osman said.
“In addition, participating businesses have access to our pre-accelerator education program, plus ongoing access to our alumni community for support throughout the journey.”
For more information, visit www.pitchblak.co