Introduction to Airboxr
Q: Can you provide a brief description of Airboxr?
A: I’m Shubham Kaushal, a co-founder of Airboxr. Our platform is tailored for e-commerce stores, focusing primarily on data automation. We specialize in helping business users from platforms like Shopify to fully grasp their data, aiding them in making informed decisions based on valuable insights.
At Airboxr, we understand that data plays a crucial role, especially for business users who are at the forefront of decision-making. They need access to pertinent data insights to determine which products are performing well, allowing them to optimize their inventory by stocking more of the high-performing products. By providing these key insights, we empower business users to make better decisions, ultimately leading to more efficient business operations and accelerated growth. Our goal is to demystify the data part of the equation, making it more accessible and actionable for those running the show at e-commerce stores.
Choosing Entrepreneur First
Q: What motivated you to apply to different startup networks, and why did you choose Entrepreneur First?
A: Reflecting on my journey, my decision to apply to Entrepreneur First (EF) in 2019 marked a significant turning point. At that time, I was on a sabbatical, having spent a year working on various personal projects. This period of experimentation was incredibly enjoyable, but it also highlighted the challenges of working solo, especially when juggling technical, business, and sales aspects single-handedly.
With my technical background, I felt confident in building systems and solving problems, but the business and sales side of things proved to be overwhelming when tackled alone. It became clear that partnering with someone who possessed complementary skills could be immensely beneficial.
I had previously heard of EF but hadn’t considered joining until that moment. Attending one of their open house events was a game-changer. Interacting with former participants and the program’s coordinators provided me with insights into the program’s potential benefits. Their experiences resonated with me, convincing me that EF could be the perfect platform to find a like-minded co-founder and enhance my entrepreneurial journey. So, I decided to give it a try, eager to explore the opportunities that this network could offer.
Entrepreneur First Application Process
Q: Can you describe your experience going through the application process at Entrepreneur First?
A: It started with a comprehensive form on their website, which required me to detail my professional journey up to that point and delve into my entrepreneurial motivations and aspirations. Interestingly, the form didn’t press for specific startup ideas. Instead, it focused on understanding the applicant’s mindset and entrepreneurial spirit. I found this aspect particularly appealing because it meant that I didn’t need a fully formed business idea to apply. The program was structured to welcome individuals as they are, providing a platform for them to find their path once inside.
Following the initial form submission, I underwent one or two interviews. While the exact number eludes me, I distinctly recall an in-person interview that stood out due to its informal nature. Lasting about an hour, it felt more like a free-flowing conversation than a formal interview, focusing on my past experiences and my thoughts on entrepreneurship.
The interviewer, a member of the EF team, created a relaxed atmosphere, which allowed me to express myself genuinely and discuss my journey and perspective on building a startup. This process wasn’t just about evaluating my fit for the program; it also gave me a sense of the program’s approach and values, further convincing me that Entrepreneur First was the right choice for my entrepreneurial journey.
Q: Could you offer any advice or insights regarding the application process at Entrepreneur First?
A: The most fundamental piece of advice I can offer is to be genuine and true to yourself throughout the application. It might sound cliché, but it’s crucial. More specifically, take the time to reflect on what you aim to achieve by joining the program. When I applied, I was open to experimentation and exploring different paths, which is a perfectly valid approach. However, being clear and conscious of your intentions, even if they are broad, can be beneficial.
Many applicants come with a clear vision or a specific domain they want to tackle. Some even have grand aspirations, like building a billion-dollar company. This level of clarity can be a significant advantage once accepted into the program, as it aids in quickly identifying potential co-founders whose goals align with yours.
The Journey Post-Acceptance
Q: What does the experience look like after being accepted into Entrepreneur First?
A: Getting accepted into Entrepreneur First marks the beginning of an exciting journey. In my experience, the fun truly started at that point. Before the official program commencement, all the participants were connected on a platform, fostering initial interactions and discussions. We even had an organized trip to Bintan Island, attended by around 70% of the batch. It served as an informal meet-and-greet, providing everyone with the opportunity to get to know each other and understand the group’s vibe. It felt like joining a second college, surrounded by ambitious and like-minded individuals.
Once the program officially started, the pace significantly picked up. The initial 8-10 weeks were a whirlwind of activity, marked by working closely with various participants, testing out potential co-founder relationships, brainstorming ideas, and establishing metrics to evaluate both ideas and execution strategies. The atmosphere transformed from informal interactions to a high-octane, work-focused environment, truly capturing the essence and intensity of being in a startup accelerator.
Q: Can you share the story of how you met your co-founder and how the idea of Airboxr came to be?
A: My journey to finding a co-founder and settling on an idea is somewhat atypical compared to the standard path at Entrepreneur First (EF). Typically, EF participants pair up within their cohort, pitch their idea to EF, and, if successful, receive funding to take their startup forward. However, I appreciate EF’s flexibility and open-minded approach, as it doesn’t impose strict guidelines on how one should navigate the co-founding journey.
In my batch, I witnessed individuals pairing up with alumni from previous cohorts, which highlights EF’s supportive ecosystem. As for my story, I engaged with various founders throughout the program, but nothing clicked. I concluded the program without a co-founder and subsequently reconnected with Saps, a member of the EF team, who was transitioning out to pursue his own path.
Our partnership emerged organically through conversations about our capabilities, experiences, and aspirations. We both had extensive experience working with data in our previous roles, and we identified a gap in the market: helping business users decipher data to make quicker, more informed decisions.
This mission resonated with us, and as we delved deeper, we discovered our complementary strengths. Together, we honed in on the idea of creating a data automation platform for e-commerce stores, ultimately founding Airboxr. Our journey may have taken a different route, but it led us to a shared vision and a strong partnership.
Q: Were you able to secure funding through the Entrepreneur First program?
A: We successfully secured funding through the program, albeit not during the typical funding cycle. Although I was initially part of the EF Singapore 6th batch, my journey didn’t lead to immediate funding. It was only after teaming up with Saps and rejoining the Singapore 8th batch that we were able to secure funding.
While I cannot disclose the exact amount, I can provide an overview of the standard funding deal in the Singapore program, which might give you a ballpark idea. Typically, EF invests 75,000 Singapore dollars in the startup, and this comes on top of the personal stipend they provide during the first three months of the program. The stipend, amounting to about $5,000 a month, is meant to support individuals as they work on finding a co-founder and fleshing out their startup idea.
After this initial phase, if EF believes in the potential of your venture, they invest the aforementioned amount in your company, usually in exchange for around a 10% stake, formalized as a safe note. This funding structure is designed to empower founders to fully immerse themselves in the program, fostering innovation and facilitating successful co-founder partnerships.
Biggest Benefits of the Program
Q: Beyond financial support, what were the most significant advantages you gained from participating in the Entrepreneur First program?
A: The program’s most profound impact on me was the relationships and connections I was able to establish. Entrepreneur First has a knack for bringing together an extraordinary group of ambitious and skilled individuals, creating an environment where innovation and collaboration can truly flourish. I have managed to maintain close relationships with many from my batch, as well as others from different batches of the program. It has developed into a robust and supportive community or ecosystem if you will.
While I’m not typically inclined to use the term “ecosystem,” in this case, it aptly describes the network and community that Entrepreneur First has cultivated. This network, these friendships, and the connections I’ve made are invaluable and something I could never put a price tag on. They’ve been an immense part of my journey and have played a crucial role in my growth and development throughout and beyond the program.
Q: Can you share an aha moment that surprised or inspired you during your journey, particularly any instance that left a lasting impact on you?
A: Certainly, my aha moment came a bit after the program, but it was undeniably a result of my experiences within Entrepreneur First. Throughout the program, various experts were brought in to deliver talks and share insights on the intricacies of building a successful company. They all emphasized a consistent theme: the importance of creating something genuinely needed by the users.
“Build something people need.” This statement, while simple, carries profound implications when you actually experience and understand it fully. My moment of realization came about a year into building my company. I had developed this intricate and sophisticated technology, something I could proudly discuss with fellow engineers, marveling at its complexity and elegance.
However, despite its technical brilliance, I found that it wasn’t being used. That was when it hit me — what value does this technology truly hold if it doesn’t serve the needs of the users? This moment was pivotal, transforming my perspective and approach. It underscored the crucial importance of aligning what you build with what your users genuinely need, a lesson that transcends conceptual understanding and demands experiential learning.
Current State and Focus on Growth
Q: Could you provide an update on your company’s current status?
A: I’m pleased to share that we have made substantial progress since our inception. Presently, we are a team of eight, fully committed to the vision and growth of our startup. We have successfully launched our product to the public, receiving not just user engagement but also monetary support from paying customers.
Our primary objective at this juncture is Growth. We have garnered enough validation and confidence in the value proposition of our product. Users are not only consistently engaging with it but are also discovering and appreciating features that we haven’t actively promoted. This provides us with a rich source of feedback and insights, fuelling our ongoing process of refinement and improvement.
Q: What marketing strategies have you tested so far, and what were the outcomes of those experiments?
A: We have been proactive in testing various channels to gauge their effectiveness in reaching our target audience. In our experimentation phase, we delved into paid advertisements on social media platforms, which unfortunately did not yield the results we hoped for. Our audience demographic did not align well with these channels, resulting in a mismatch.
On the flip side, we discovered that organic content has been a more fruitful avenue for us. We have been consistently creating and sharing valuable content, and it is only in recent months that we have started to see its impact, especially in terms of our rankings in organic search results. This has been a promising development for us.
We also explored Google search ads, and amongst all the paid marketing experiments we conducted, this channel proved to be the most impactful. It has shown some positive results, indicating that our audience is more receptive to this form of advertising.
Final Tips for Aspiring EF Founders
Q: What advice do you have for entrepreneurs considering applying to Entrepreneur First (EF)?
A: For those looking to embark on the EF journey, maintaining an open mind is crucial. It’s a delicate balance between being aware of your strengths and ambitions while staying adaptable to the unique environment and the cohort you will be a part of.
Yes, getting into the program is an achievement in itself, but the real journey begins once you’re in. You have to navigate through the process, collaborate with various individuals, and potentially find a co-founder from within your batch.
Co-founding a startup is often compared to marriage, and there’s a lot of truth in that analogy. It’s about finding a partnership that works, someone you enjoy working with and can see yourself building something significant with over the long term. It’s matchmaking at its core.
So, my tip would be to come prepared, know your strengths and what you bring to the table, but also be ready to adapt and embrace the journey with an open heart and mind. The experience is unique, and the relationships and learning you take away from it can be immensely valuable.