NYU Lean LaunchPad class

1. Team:
Aravind Jeevan
(MBA, NYU Stern School of Business)
Sanket Ingale
(Masters in Computer Science, NYU School of Engineering)
SpaceTon
Interviews this week: 12
Interviews so far: 18
Helping real estate developers raise capital from their
properties pre-construction and also increasing the willingness
of property buyers to purchase a pre-construction property

2. Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
- Software licensing
- Real estate brokers
- Real estate media
- Payroll/Accounting
service
Problem Solving:
- Capture Requirements
- Design & Delivery
- Operations
Low price & High quality
3D solutions.
To real estate developers,
contractors & house
flippers:
- 3D walk through videos
- 3D rendering images
To brokers and real estate
sale websites:
- Marketing
Customer Acquisition:
- Website, social media groups
- Real estate events
- Brokers(commission based)
Customer Retention:
- Lowest price
- Post production support
Boosting Sales:
- Geographical expansion
Real estate developers
Real estate brokers
Contractors
House flippers
Real estate websites
Key Resources
Physical:
- IT infrastructure (offshore)
- Office in NYC
Human:
- Software Developers (offshore)
- Operations Manager (offshore)
- Architect/Interior Designer
Channels
Deliver product through:
- Website
- Personal email or upload to
client’s server
- Format according to clients
needs
Cost Structure Revenue Streams
Cost Driven:
- Major Costs: Employees and IT Infrastructure
- Fixed Costs: Employee salary, office Space, computers and software
licenses, payroll, accounting
- Variable Costs: Contractors, Marketing
Transaction Revenue:
- Price per 3D image (Minimum base price + additional price based on
complexity
- Price per second for videos (A minimum no of minutes)
- Commission based revenue model
Business Model Canvas – Day1

3. Day1 – Learning
Biggest Lesson Learned :
We don’t need solution without knowing what we were solving.
Customer segment
was very broad,
having most real
estate players
No matching value
propositions for each
customer segments
Started validating hypothesis … faced early challenges

4. Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
- Software licensing
- Real estate brokers
- Real estate media
- Payroll/Accounting
service
Problem Solving:
- Capture Requirements
- Design & Delivery
- Operations
Low price, High quality
3D rendering images.
Online walkthrough
videos.
To real estate developers,
contractors & house
flippers:
- walk through videos
- 3D rendering images
To brokers and real estate
sale websites:
- Commission
- Marketing
Customer Acquisition:
- Website, social media groups
- Real estate events
- Brokers(commission based)
Customer Retention:
- Lowest price
- Post production support
Boosting Sales:
- Geographical expansion
Real estate developers
- Small & Medium
- Residential
Real estate brokers
- Sales connections
Building Contractors
House flippers
Real estate websites
Key Resources
Physical:
- IT infrastructure (offshore)
- Office in NYC
Human:
- Software Developers (offshore)
- Operations Manager (offshore)
- Architect/Interior Designer
Channels
Deliver product through:
- Website
- Personal email or upload to
client’s server
- Format according to clients
needs
Cost Structure Revenue Streams
Cost Driven:
- Major Costs: Employees and IT Infrastructure
- Fixed Costs: Employee salary, office Space, computers and software
licenses, payroll, accounting
- Variable Costs: Contractors, Marketing
Transaction Revenue:
- Price per 3D image (Minimum base price + additional price based on
complexity
- Price per second for videos (A minimum no of minutes)
- Package of images and video
- Commission based revenue model
Business Model Canvas – Day2

5. Day2 Learning
What we
thought
What we did What we found What we
learned
- To reduce costs
and sell the
apartments before
construction
customers will have
a need for rendered
images and
walkthrough video.
- We asked real
estate expertise
about their pain
points for marketing
property before
construction.
- We showed our
idea with sample
video, images and
online website.
- Customers not
much interested in
the rendered images
but showed interest
in a rendered floor
plan and also video.
- Customers want it
on mobile platform
- Validation needed
to check if customers
have a need to sell
apartments pre
construction.
- Developers need to
eliminate/ reduce
costs on their pre-
construction
marketing activities.
- customer segment
need to be narrowed
down

6. Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
- Software licensing
- Real estate brokers
- Real estate media
- Payroll/Accounting
service
Problem Solving:
- Capture
Requirements
- Design & Delivery
- Operations
Low price, High quality
3D rendering images.
Help developers to sell apartments
pre-construction.
Developers need to eliminate the cost
of building model apartments.
Developers need to reduce the cost
of building prototypes
pre-construction.
Buyers currently have difficulty in
making a purchase decision for pre
construction homes based on floor
plans.
Value to real estate developers and
buyers:
contractors & house
flippers:
- animated walk through videos that
shows how the apartments and
amenities will look post construction.
- 3D rendering images
To brokers and real estate
sale websites:
- Commission
- Marketing
Customer Acquisition:
- Website, social media
groups
- Real estate events
- Brokers(commission based)
Customer Retention:
- Lowest price
- Post production support
Boosting Sales:
- Geographical expansion
Real estate developers
- who does pre-
construction sales
- Small & Medium
- Residential
Pre-construction
property buyers
Real estate brokers
who does pre-
construction sales
Architects
Interior Designers
Building Contractors
House flippers
Real estate websites
Key Resources
Physical:
- IT infrastructure
(offshore)
- Office in NYC
Human:
- Software Developers
(offshore)
- Operations Manager
(offshore)
- Architect/Interior
Designer
Channels
Deliver product through:
- Website
- YouTube
- Personal email
or upload to
client’s server
- Format according to
clients needs
Cost Structure Revenue Streams
Cost Driven:
- Major Costs: Employees and IT Infrastructure
- Fixed Costs: Employee salary, office Space, computers and
software licenses, payroll, accounting
- Variable Costs: Contractors, Marketing
Transaction Revenue:
- Price per 3D image (Minimum base price + additional price
based on complexity
- Price per second for videos (A minimum no of minutes)
- Package of images and video
- Commission based revenue model
Business Model Canvas – Day3

7. Day 3 Learning
Value Proposition Hypothesis Customer’s Thought
Apartments/Houses are not getting
sold until closure to completion
NOT ALWAYS TRUE
Real estate developers need to sell
before construction to raise money for
their costs
NOT TRUE, have other sources to
raise money.
Real Estate developers need to create
model apartments for pre sale to
happen.
YES
but most said they don’t do it.
Buyers have difficulty in making a
purchase decision just based on floor
plans.
YES
Feedback from Builders that they need to reduce post construction problems
and lawsuits related to buyer misconceptions.

8. Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
- Software licensing
- Real estate brokers
- Real estate media
- Payroll/Accounting
service
Problem Solving:
- Capture
Requirements
- Design & Delivery
- Operations
Low price, High quality
3D rendering images.
Help developers to sell apartments
pre-construction.
Developers need to eliminate the cost
of building model apartments.
Developers need to reduce the cost
of building prototypes
pre-construction.
Buyers currently have difficulty in
making a purchase decision for pre
construction homes based on floor
plans.
Value to real estate developers and
buyers:
contractors & house flippers:
- animated walk through videos that
shows how the apartments and
amenities will look post construction.
- 3D rendering images
To brokers and real estate
sale websites:
- Commission
- Marketing
Customer Acquisition:
- Website, social media
- Real estate events/shows
- Advertise in magazine
Customer Retention:
- Lowest price
- Post production support
Boosting Sales:
- Geographical expansion
- Future projects
Real estate developers
- who does pre-
construction sales
- Small & Medium
- Residential
Pre-construction
property buyers
Real estate brokers
who does pre-
construction sales
Architects
Interior Designers???
Building Contractors
House flippers
Real estate websites
Key Resources
ChannelsPhysical:
- IT infrastructure
(offshore)
- Office in NYC
Human:
- Software Developers
(offshore)
- Operations Manager
(offshore)
- Architect/Interior
Designer
Deliver product through:
- Website
- YouTube
- Personal email or integrate
to client’s system/app
- Format according to
clients needs
Cost Structure Revenue Streams
Cost Driven:
- Major Costs: Employees and IT Infrastructure
- Fixed Costs: Employee salary, office Space, computers and
software licenses, payroll, accounting
- Variable Costs: Contractors, Marketing
Transaction Revenue:
- Price per 3D image (Minimum base price + additional price
based on complexity
Dynamic: Price per second for videos (A minimum no of secs)
- Package of images and video
- Commission based revenue model for brokers
- For architects who are not direct customers???
Business Model Canvas – Day4
- Brokers
- Architects
- Brokers
- Real Estate Consultant???

9. Day4 - Learnings
Small developers will be our most important
buyers
Brokers interested in the commission based revenue model.
Brokers will act as one of our channel partners.
Brokers who does marketing for developers will be our buyer.
Architects could be our channel partner, needs
more validation.

10. Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
- Software licensing
- Real estate brokers
- Architects
- Real estate media
- Payroll/Accounting
service
Problem Solving:
- Capture
Requirements
- Design & Delivery
- Operations
Low price, High quality
3D rendering images.
Help developers to sell apartments
pre-construction.
Developers need to eliminate the cost
of building model apartments.
Developers need to reduce the cost
of building prototypes
pre-construction.
Buyers currently have difficulty in
making a purchase decision for pre
construction homes based on floor
plans.
Value to real estate developers:
- animated walk through videos that
shows how the apartments and
amenities will look post construction.
- 3D rendering images
To brokers and real estate
sale websites:
- Commission
- Marketing
Customer Acquisition:
- Brokers
- Real Estate Consultant
- Website, social media
- Email Marketing
- Real estate events/shows
- Advertise in magazine
Customer Retention:
- Lowest price
- Post production support
Boosting Sales:
- Geographical expansion
- Future projects
Small Developers
Medium/Large
/Commercial
developers
Brokers
who does marketing
for large residential
and commercial real
estate clients
- Small & Medium
- Residential
Pre-construction
property buyers
Architects
Interior Designers
Building Contractors
House flippers
Real estate websites
Key Resources
Physical:
- IT infrastructure
Human:
- Software Developers
(offshore)
- Operations Manager
(offshore)
- Design Consultant
- Architect/Interior
Designer
Channels
Web
Brokers
Architects
Deliver product through:
- Website
- YouTube
- Personal email or integrate
to client’s system/app
Cost Structure Revenue Streams
Cost Driven:
- Major Costs: Employees and IT Infrastructure
- Fixed Costs: Employee salary, office Space, computers and
software licenses, payroll, accounting
- Variable Costs: Contractors, Marketing
Transaction Revenue:
- Price per 3D image (Minimum base price + additional price
based on complexity
Dynamic & Value based pricing.
Price per minute for videos (A minimum no of minutes)
- Package of images and video
- Commission based revenue model for brokers
Business Model Canvas – Day5

11. Day5 – where we ended
Rental Companies showing interest in our floor
plans. Needs to validate what benefit will it give
to them.
Tested our MVP on customers:
Website: spacetontechnologies.com

12. MVP

13. MVP

14. MVP

15. MVP

16. MVP

17. MVP
Prototype Video: Play!

18. What are we going to do next..
1. Continue with our customer discovery and MVP validation. Pivot.
Iterate.
2. Test and confirm our channel partners: Brokers and Architects.
3. Validate our revenue model.
4. Update MVP.
5. Finally! We have two developers interested in our service and we plan to
meet with them again in September.