In collaboration with the Techstars Accelerator Program in Boulder, Galvanize is hosting a workshop series called Model Mondays, on business development, valuations, and market trends, for anyone interested in entrepreneurship.
Galvanize had the honor of hosting the first Model Monday with Zach Nies, VP of Education at Techstars, who introduced the concept of Riding the Wave. This concept shows how disruptive technology and breakout industries form. An entrepreneur can conceptualize how to ‘ride the wave’ and break out with an industry changing product.
The Riding the Wave model is broken down into 4 fundamental elements:
- The disruption in timing and market fit that causes the technology to become relevant. (Forming the Wave)
- The amplifying force that drives the technology to grow. (Wind building the wave)
- The status quo to overcome and become a breakout technology. (What the wind breaks upon)
- The technology and team behind the product itself. (The surfer and surfboard)
These fundamental elements can be applied to any breakout industry or industry changing technology. Entrepreneurs have the ability to apply these elements to their own product. By following the model, they can understand what amplifying forces are needed to overcome the status quo.
When applying this model to a product there are 2 things to keep in mind:
- While you are exploring the amplifying forces that drive your business, you need to think of your competitors as ‘fellow surfers’. Initially, competitors need to work together, share resources and continually build the amplifying force to overcome the status quo.
- The ability to articulate the disruption and amplifying forces behind a business is a great method to pitch your product. The entrepreneur shows the steps they must take to overcome the status quo and breakout as a new product or even industry.
The Riding the Wave model gave Galvanize Members a unique view on how to conceptualize their product. Using this model they can find the amplifying forces needed to drive their company to succeed as an industry-changing technology or breakout industry.