I wanted to take a minute to give everyone an update and provide my thoughts on competition. Competition is a good thing for consumers and startup companies. It forces you to work harder, faster, and better than the other ‘2 guys in the garage’ that want to take your market. In my corporate life, I’m in one of the most competitive industries where HUGE dollars are on the line and your opponents, are BIG, NASTY, FIERCE, RESOURCED, SMART, and out for blood. Yet, I’ve been relatively successful. Taking the success, we decided to submit Walkspots to TechStars this cycle. TechStars, as I describe to my friends, is like American Idol for startups. They receive ~400 applications and downselect to 30 companies, then cut to 10 for the final. The final 10 spend the summer in Boulder, CO at an intensive startup boot camp. We we just notified the other day that we did not make the initial downselect. I was surprised, between Nam and I, our resumes are pretty impressive, so I was confident we’d make the the downselect at least.

All in all, the application process taught us alot about ourselves and where we want to take the company. It gave us a set date when we needed to have our application done, which drove us to devote a massive amount of time toward getting a demo up and running. The amount of work we accomplished in this short time impressed us both. So, even though we didn’t make the downselect, the application proces was quite valuable. More importantly, we’re very interested to see who did get selected. Not because we’re jealous or angry, but now we have competition. Likely not going after the same customers or markets, but competitors in the ‘who can build the best company by August’ race. I’ve got a spot on my wall picked out and a great chart ready to measure our progress against theirs Of course it is in the friendliest sense, but this is competition. Gentleman, start your engines.