EXECUTIVE SUMMARY

We have taken on to create CVerify, a blockchain based credential management. CVerify provides blockchain based certificates for course providers (and later for employers) that ensure that your future employer takes them seriously. Our product will also include a UI for recruiters, end-users and certificate issuers. Over the course of the semester we have used the lean startup method to validate our business idea and to build up the foundations of a successful entrepreneurial endeavor.

Goal

Our mission is to allow everyone to create and issue trustworthy credentials and to receive, share and store their credentials. We have set out to create a full pitch deck where the business that fulfills this mission is created and pitched to potential investors.

Methodology

For such a mission to be accomplished, we used iterative product development with cycles consisting of assumptions, hypothesis testing and building. We have followed the guidelines of the Business Model Canvas that helped us to identify which hypotheses needed to be tested and to ensure desirability, viability and feasibility of our idea. We have employed prototypes like product mock-ups, interviews and surveys for hypothesis testing. Over the iterations we have developed new hypotheses and tested them until we were confident in our business model canvas. We have also drawn on the help of external lecturers and coaches to help us generally with startup finding and specifically with our project.

Results

We have cycled trough 4 iteration cycles gradually improving our product over each iteration. Our surveys have received over 1000 responses and we have conducted over 20 interviews over the course of the semester. These results provide the basis for our pitch deck, that now includes a financial model, a final prototype and an investor presentation.  What was in September just an idea has developed into a detailed Business Model Canvas and Customer Value Propositon Canvas that provide the basis for a successful product launch in the future. With our interviews, we have reached countless potential customers in the field that are real stakeholders with real problems and have tailored our product so that it solves many of their pain points. Last but not least, our product is tested for viability, meaning that our financial model, based on validated assumptions leads to actual profit in the future.

Cooperation Partner

• cVerify

Contact Person

• Adam Kolomaznik - adam.kolomaznik@s.wu.ac.at

Student Team

• Adam Kolomaznik - adam.kolomaznik@s.wu.ac.at

• Luca Matteo Nekvinda - luca.matteo.nekvinda@s.wu.ac.at

• Elias Rapp - elias.rapp@s.wu.ac.at

• Kristof Jakab Margitay - kristf.jakab.margitay@s.wu.ac.at
   

Project Manager

• Thomas Pannermayr, MSc (WU)

• Tuong-Vi Sophie Quach, MA