Our 2023 student entrepreneurs from Launchbox reflect on the advice they’ve been given by seasoned entrepreneurs and the progress they are making.
Every summer LaunchBox, Trinity’s student accelerator, offers student entrepreneurs €10,000 in equity-free funding and a place on the three-month programme. Follow how these start-ups get on here.
LaunchBox, in partnership with Bank of Ireland, and managed by experts in Tangent, Trinity’s Ideas Workspace, provides mentorship, funding, access to alumni and investors, and the ideal collaborative environment to launch new start-up ventures.
“Balancing product development while learning the ropes of business operations has been a challenge”
Stay tuned for the upcoming Diary of a Student Entrepreneur series which charts some of the teams’ reflections as they prepare for the upcoming Demo Day.
Maria Cairns, Verify a Vendor
Since starting the Launchbox program, I’ve had the privilege of learning from seasoned entrepreneurs and business leaders, which has been an eye-opening experience. One key insight that resonates with me is that no set path or formula exists for success. Each individual brings their unique skill set and experiences, shaping their entrepreneurial journey. It’s crucial to remind oneself of the non-linear nature of career paths and resist the urge to compare progress with others on the same journey.
“The entrepreneurial ecosystem is a dynamic and ever-changing landscape, requiring adaptability and continuous learning”
This understanding was further reinforced when I attended the This Next Thing conference in Switzerland. Rubbing shoulders and engaging in conversations with global technology leaders was an incredible opportunity. I’m immensely grateful to my mentor, Eamon Leonard, who offered me a fully funded scholarship to attend the event. A key takeaway from the conference was the realisation that technology presents abundant opportunities, especially for our generation, as digital natives.
One lesson I’ve learned on this entrepreneurial journey is the importance of considering legal and commercial aspects alongside technical development. Engaging with domain experts has provided invaluable guidance on what to do and, more importantly, what not to do. Sorting out shareholder agreements and business plans from the outset is crucial to avoid negative repercussions that may arise when technical development takes precedence.
Balancing product development while learning the ropes of business operations has been a challenge. Although my business studies have been beneficial, there’s no substitute for on-the-job learning. Nevertheless, it has been rewarding to already have collaborated with an event organiser, streamlining their processes for an upcoming event. This hands-on experience highlights the practical application of Verify a Vendor and the value that it can bring. With much more to learn, Launchbox has provided an excellent starting point. The program equips me with the resources and support necessary for entrepreneurial growth. Engaging with mentors and fellow entrepreneurs has broadened my perspective and inspired me to strive for success.
To conclude, my journey as a student entrepreneur has taught me that success is not bound by a predetermined path. The entrepreneurial ecosystem is a dynamic and ever-changing landscape, requiring adaptability and continuous learning. By embracing diverse experiences and seeking guidance from experts, I am confident in charting a course towards innovation and impact.
Robert Davitt, co-founder, Hebe
As a founder, you must seek advice from as many people as possible and ignore most of it. Throughout Launchbox, we have had the privilege of speaking with great Irish entrepreneurs. Each entrepreneur has conveyed their own unique story and shared lessons that were pivotal to their success.
“As a founder, you must cast your net wide for advice. But make sure to think critically and independently to catch the pearls of wisdom that truly sync with what you’re aiming to achieve. As Marc Andreessen said: ‘If you find yourself listening to advice, maybe you shouldn’t do it’”
However, as these visits accumulated, we began to hear contradictions. There were multiple opposing ways that problems were framed and solved. Some entrepreneurs were focused on quick, successful exits, while others spoke of building enduring companies. Some entrepreneurs methodically planned out their entrepreneurial journey, while others fell into starting a company. Some entrepreneurs spoke of the importance of reaching profitability as soon as possible, while others spoke of sacrificing profits for rapid growth.
These contradictions were confusing at first. How could multiple people have opposing views on a single topic and still be correct? Upon reflection, I realised that the limitations of my cognitive approach were hindering the consumption of diverse perspectives. There can be multiple correct answers to a problem, and it is up to the problem-solver to decide on their solution. As Benedict Evans said: ‘There are infinite facts, and which facts you choose to convey is an opinion’.
Equipped with this insight, I began to approach advice differently. Instead of discounting opposing points of view, I tried to deeply understand the advice with open-mindedness and inquiry. Understanding opposing beliefs and opinions allowed me to make informed decisions as to whether or not I would take the advice on board. It served to strengthen points of view I previously held or completely upend them.
As a founder, you must cast your net wide for advice. But make sure to think critically and independently to catch the pearls of wisdom that truly sync with what you’re aiming to achieve. As Marc Andreessen said: ‘If you find yourself listening to advice, maybe you shouldn’t do it’.
Daniel Buckley, co-founder, Souper Fresh
Embarking on the entrepreneurial journey with Souper Fresh through the LaunchBox programme at Trinity College Dublin has been an incredible experience. Let’s dive into the highlights of our journey and the impact we are making in transforming whey waste into delicious soup.
“Despite the challenges, Souper Fresh has celebrated significant wins. We have secured partnerships with five local shops, which now stock our nutritious soups on a weekly basis. This early market validation not only boosts our confidence but also opens doors for future expansion opportunities”
My Granny, Breda Maher, the owner of a cheese factory in Thurles, has been a guiding light for our venture. Her expertise in the industry has provided us with the opportunity to source valuable whey, which would otherwise go to waste. With her support, we have turned this whey into a nutritious and sustainable soup alternative, creating a win-win situation for the cheese factory and our customers.
One of the most important lessons we have learned on this programme is the power of perseverance. Building a start-up comes with its fair share of challenges, but by persisting and embracing feedback, we have experienced tremendous growth. Each hurdle has taught us valuable lessons and propelled us forward on this exciting path.
Throughout this journey, we have discovered the significance of diversification. Initially focusing solely on soups, we soon realized the impact of seasonal fluctuations on sales. To address this challenge, we are thrilled to announce the development of a protein shake drink. This addition to our product line will provide a year-round offering, catering to a broader audience and ensuring consistent sales.
Currently, we are working through the pain point of weather dependency. Selling soup during warmer months can be challenging, as customers tend to prefer lighter options. However, with our protein shake drink in the pipeline, we are confident in our ability to adapt to changing customer preferences and maintain steady sales throughout the year.
Despite the challenges, Souper Fresh has celebrated significant wins. Through our dedication, we have secured partnerships with five local shops, which now stock our nutritious soups on a weekly basis. This early market validation not only boosts our confidence but also opens doors for future expansion opportunities.
Exciting developments lie ahead for Souper Fresh. We are thrilled to announce our upcoming move to a larger kitchen in Thurles, which will enhance our production capacity and allow us to meet the increasing demand for our products effectively. This expansion is a testament to our commitment to providing delicious and sustainable options to our customers.
In conclusion, our journey with Souper Fresh, supported by our Granny and the LaunchBox programme, has been transformative. By transforming whey waste into delicious soups and developing a protein shake drink, we are making a positive
impact on the environment and offering nutritious alternatives to our customers. With perseverance, diversification, and a focus on customer satisfaction, Souper Fresh is poised for success.
