What Made the First NS Demoday a Success?
On May 5th, the Network School (NS) community held its inaugural NS Demoday at the NS Library. This event served as a crucial platform for students and alumni to present their projects to a panel of 'angel investors,' resulting in a dynamic showcase of innovation and entrepreneurial spirit. This analysis delves into the structure, key features, and outcomes of the event to understand its impact within the Network School ecosystem.
Event Overview: A Fast-Paced Pitching Format
The NS Demoday, hosted by NS Collab (nscollab.com), an open-source project spearheaded by Jeahong Lee, mirrored the fast-paced format of Y Combinator's Demo Days. Each of the 16 participating pitchers had a mere two minutes to present their ideas, without a Q&A session, ensuring a rapid flow of presentations. Over 50 audience members, acting as virtual investors, engaged in the event, contributing to the overall success.
Gamification: Virtual Investments and Real-World Engagement
A key element that significantly contributed to the event's success was the implementation of a gamified investment system. Each audience member was given a virtual $1 million to allocate across the pitches. This incentivized active participation, encouraging careful listening and strategic investment decisions. This gamification strategy elevated the engagement levels and provided a more interactive experience for all attendees.
Ranking Methodology: Determining Winners and Top Projects
The NS Demoday employed a straightforward ranking methodology. The top 5 projects, as determined by the total amount of virtual funding received, were declared winners. The return on investment (ROI) was tiered: 1st place received a 20x return, 2nd place a 10x return, 3rd place a 5x return, 4th place a 3x return, and 5th place a 2x return. Projects ranked below 6th received no return. This incentivized investors to carefully assess the potential of each pitch. The top 5 investors were those who achieved the highest overall profit from their virtual investments.
Top Projects & Investors: A Detailed Breakdown
The following projects received the most funding and were thus recognized as the top performers at the first NS Demoday:
- MC² Finance by piffie
- MetEngine by Harsh Ghodkar
- Publast by JeahongLee
- TaxTagger by kuan yu
- courage.coach by mateusz
The top investors, as determined by their accumulated profit from virtual investments, were:
- piffie
- WeedleChamp
- Marine Popoff
- Aditya Dewan
- Harsh Ghodkar
Analyzing the Impact of NS Collab and the Network School Community
NS Collab played a pivotal role in organizing and executing the Demoday. Jeahong Lee's leadership in the open-source project provided the technical and organizational infrastructure to facilitate the event. The Demoday itself provides a tangible demonstration of the skills and innovative thinking cultivated within the Network School community. The event provided a platform for members to connect, learn, and potentially secure funding for their projects.
Future Plans: Monthly Demodays and Community Growth
The Network School community plans to host NS Demodays monthly, with the next event scheduled for the beginning of each month. This recurring event structure offers consistent opportunities for new members to showcase their work and for the community to stay updated on the latest developments. The regular cadence of Demodays will likely contribute to ongoing engagement, mentorship, and collaboration within the Network School ecosystem.
Conclusion: A Successful Launchpad for Innovation
The first NS Demoday proved to be a success, fostering an environment of learning, collaboration, and investment within the Network School community. The gamified investment system, the fast-paced pitching format, and the active participation of the audience combined to create a dynamic and engaging event. The ongoing commitment to monthly Demodays suggests a promising future for the Network School as a hub for entrepreneurial talent and innovation. The success of the event speaks volumes about the strength of the NS Collab project and the community's dedication to supporting its members.
The NS Demoday provides a valuable model for other educational communities and startup ecosystems looking to foster entrepreneurship and accelerate innovation. The emphasis on practical application, peer-to-peer learning, and community-driven investment makes it a truly unique and effective approach to supporting the next generation of innovators.