Meet Sameer Sanagala and Utilize
Q: Could you introduce yourself and tell us about Utilize and Notion Apps?
A: Hi there, I’m Sameer, the co-founder and CEO of Utilize. We’re currently channeling our efforts into a product named Notion Apps. Initially, Utilize was a platform for creating mobile apps from Google Sheets, primarily catering to deskless teams engaged in field operations like sales or volunteer work. However, this year marked a significant pivot for us as we shifted our focus to Notion Apps. This pivot transformed us into an app builder based on Notion databases, enabling users to link their Notion database and develop mobile, and potentially web, applications on top of it. We launched this new direction about five to six months ago and have already witnessed promising traction with around 1500 signups and an encouraging uptick in early revenue, especially over the last three months.
Why Startup Wise Guys?
Q: What inspired you to become part of Startup Wise Guys?
A: When we shifted our focus at Utilize to deskless operations, creating apps specifically for field use cases, we knew we wanted to fully commit and give it our best shot. Around that time, we applied to various accelerators, and Startup Wise Guys was one of the few that believed in our vision and our team—despite us being in the early stages without significant traction. This past year, especially since joining Startup Wise Guys, we’ve experienced a notable surge in growth. Their belief in our team, combined with our target market’s presence in Europe, was a major draw for us. Being part of the Tallinn cohort was a strategic move, considering our aim to expand within the European market.
How a Founder Gets in
Q: Could you walk us through the application process for Startup Wise Guys?
A: The application process was quite streamlined. It started with a simple application form, which my co-founder found on social media and suggested we pursue. It only took me about a day to fill out. Following the application, we had a single interview with the partners. I remember it being a hassle-free experience that didn’t demand much of our time. After this interview, they promptly informed us that we were accepted into the program. During the process, we pitched our current project—an app builder tailored for field use cases—which was well-received.
Q: Can you comment on the level of competition during the application process?
A: To be honest, I’m not aware of the exact number of applicants, but the process felt less competitive compared to other accelerators we’ve applied to. For instance, Y Combinator (YC) is known for its high volume of applicants, and the competition there is intense, which wasn’t the case with Startup Wise Guys from our experience. We didn’t have any insight into the number of competitors; we focused on our application and found that we were a good fit. I can say that we were the only startup from India in our cohort, and there haven’t been many from India in Startup Wise Guys’ past cohorts either. This might suggest that in India, Startup Wise Guys isn’t as well-known, possibly making it less competitive geographically. But as for the overall competitiveness, I can’t say for certain.
Daily Life Inside the Accelerator Program
Q: Could you describe what a typical day looked like during your time with Startup Wise Guys?
A: Our days at Startup Wise Guys were interspersed with numerous workshops. The schedule wasn’t overly hectic, but a good portion of our week—about two days—was dedicated to accelerator activities. Preparation was key; we often had groundwork to complete before engaging in workshops. This could involve creating presentations on market analysis, pinpointing our unique selling propositions, or refining our product pitch. These workshops weren’t daily but spread throughout the week. Additionally, we had access to mentors for various aspects of our business. Whenever we needed guidance or a sounding board on topics like design or growth, we could set up calls with mentors. On average, we had three to four such mentorship conversations a week. So, while I can’t pinpoint a ‘typical’ day, as it varied, this was the general structure of our weeks there.
Funding Details from Startup Wise Guys
Q: Can you share how much funding you received from the accelerator?
A: Through Startup Wise Guys, we received a total of 55,000 euros. This was structured as a convertible note with a specified valuation cap. Out of the total amount, 25,000 euros were allocated for the program fees, so the net amount that we actually received in the bank was 30,000 euros.
Q: Was this funding in exchange for equity?
A: The funding will potentially convert to equity, but it hasn’t immediately. Since it’s a convertible note, Startup Wise Guys doesn’t own any equity in our company just yet. The equity exchange will occur at our next funding round, provided it meets or exceeds the valuation cap specified in the agreement. The percentage of equity to be given up will depend on the valuation we achieve in our next funding round. It’s not a fixed percentage right now; it will vary based on our future valuation.
Achievements and Skills Gained During the Accelerator
Q: During the accelerator, did you reach any milestones or develop new skills?
A: While we didn’t hit any significant milestones with our original idea during the program, it did set the stage for our eventual pivot to Notion Apps in December 2022. The real turning point for Utilize came post-program when we switched our focus and began to see substantial signup growth for the new product. However, during the accelerator, we did refine certain skills that have become invaluable.
Pitching, for instance, became more natural to us. The program offered sessions that enhanced our understanding of effectively communicating our business to potential investors. We haven’t fully utilized these pitching skills yet, as we’ve been more focused on product development and user acquisition, but they will certainly be crucial when we look to raise a new funding round. Additionally, mentorship sessions were incredibly beneficial.
I recall a particularly enlightening call with an experienced designer who quickly identified several key improvements we could make to our product. As an engineer stepping into design out of necessity, this guidance was particularly impactful, highlighting subtle nuances that could improve our product by that critical 10-20%. It’s these incremental improvements and skill enhancements during the accelerator that have contributed significantly to our growth trajectory.
Post-Accelerator Growth and User Engagement
Q: Can you describe how Utilize’s growth trajectory has evolved since the accelerator?
A: Post-accelerator, our growth trajectory has been marked by not just the number of signups, which stands at an encouraging 1500, but also by actual end-user engagement. We’ve observed over 12,000 end-users utilizing the apps created by our customers, which is a significant metric for us. Moreover, we’ve managed to generate revenue without incurring marketing costs. Our methods have been organic, focusing on content creation and community engagement, leading to a respectable Monthly Recurring Revenue (MRR) of around $500.
This revenue was realized quite rapidly, which is promising. Feedback from users has also increased, which is another indicator of growth and engagement. Considering there aren’t many app builders specifically for Notion in the market, we’ve tapped into a niche that exhibits high demand. Notion users are distinct in their needs and engagement, and catering to this unique user base has contributed to our growth. So, beyond the number of signups, our development in user activity, revenue, and user feedback signifies our expanding presence in the market.
Q: Have you expanded into new markets or gained new customers since completing the accelerator, and did the program contribute to this?
A: The impact of the accelerator on our market expansion isn’t direct. The funding we received essentially bought us time, which was crucial in deciding to pivot. The shift in our business model wasn’t a direct suggestion from the accelerator; it was born from our internal discussions and market research.
We had considered this new direction even while we were part of the accelerator, but we needed to follow through with the original idea we had presented. It was only after acknowledging that our growth was slower than desired and that we needed to generate revenue more quickly that we decided to pivot. So, the insights for the pivot came from our analysis rather than the accelerator’s influence.
Setting New Goals and Leveraging Accelerator Experience
Q: What are Utilize’s upcoming targets, and in what ways has the accelerator equipped you to reach these goals?
A: Our immediate goal is to acquire 100 paying customers, translating into a solid revenue base, which we aim to achieve within the next three months—a faster pace compared to the last four to five months. Regarding assistance from the accelerator post-program, our interaction has been minimal, limited to providing monthly updates. We haven’t engaged deeply with the accelerator for additional support or resources since the program ended.
Q: Did they facilitate introductions to investors for potential future funding?
A: This lack of further engagement might be because we haven’t actively sought out new funding or help in that regard. We’ve been focused on utilizing the €30,000 we received to grow lean and boost our revenue sustainably. However, now that we’re looking to scale and require more funding, we’re initiating conversations with angel investors and will likely reach out to Startup Wise Guys for support in this new fundraising phase.
Advice for Applying to Accelerators
Q: Do you have any advice or tips for startups applying to Startup Wise Guys or other accelerators?
A: My main piece of advice, which I believe applies universally to any accelerator application, is the importance of authenticity and conviction. From our experience, the applications where we were most true to ourselves—where we presented our vision, numbers, and learnings with honesty—were the ones that were successful. With Startup Wise Guys, we didn’t overthink our application; we approached it with what was current and genuine for us at the time, including being upfront about potential pivots and our various backup plans.
There’s a tendency to over-engineer applications, to try and tailor every word to what we think the accelerators want to hear. However, our approach with SWG was straightforward. We shared our genuine state of affairs, acknowledged the possibility of failure, and discussed our Plan B’s. This authenticity meant we didn’t have to spend excessive time crafting our application to fit a certain mold, which paradoxically may be why it resonated with them. So, the key tip is to maintain a genuine attitude and to present your startup candidly, with all its potential and risks.