In the world of entrepreneurship, the journey from idea to market is often filled with challenges, pivots, and learning experiences. For Lisa MacFadden and Ryan Rykhus, participants in the I-Corps program, this journey has been no different. With a background that gave them a leg up, they found themselves facing new challenges and opportunities as they navigated the program.
Lisa and Ryan began the I-Corps program with a strong foundation in business development but soon realized the need to refine their technical product. This recognition led them to pause and focus on making sure their product was technically sound before moving forward.
One of the most valuable aspects of the I-Corps program for Lisa and Ryan was the opportunity to engage in the customer discovery process. Through conversations with a wide range of potential customers, they gained insights that helped them identify their target market and refine their product to meet specific needs. This process highlighted the importance of understanding that not everyone is a customer and that refining a product to meet the demands of a specific market is crucial for success.
The I-Corps program also highlighted the power of networking for Lisa and Ryan. During the program, Lisa connected with another team working on an antimicrobial product, leading to an introduction to her sister, an expert in the field. This connection provided invaluable customer insights that the team had not been able to access elsewhere. Lisa reflected on the impact of these interactions, noting how crucial networking and shared experiences are in uncovering opportunities that can significantly shape a project’s direction and success.
Their journey through I-Corps has been one of growth, reflection, and determination. They have not only refined their technical product but also gained valuable insights into the entrepreneurial landscape. In addition to completing the I-Corps program, they received a $28,000 sub-award from the NIH’s Startup Central program to develop a proof of concept following a pitch competition.
Looking ahead, Lisa and Ryan continue to develop their project with the lessons learned from I-Corps. They emphasize the importance of adaptability, networking, and the willingness to pivot when necessary. Their experience serves as a reminder that the journey of innovation is as much about the connections made and the lessons learned as it is about the final product. As they continue to push forward, they remain grateful for the opportunities and insights gained through the I-Corps program, looking to make a significant impact in their industry.