We’re excited to share an important step forward for PSYNQ: PSYNQ has been accepted into the Rochester Institute of Technology Venture Creations Incubator.
RIT Venture Creations works with early-stage technology companies as they move toward commercialization, providing founders with hands-on coaching and access to experienced entrepreneurs and other business resources.
For PSYNQ, the timing couldn’t be better.
We started PSYNQ with a simple idea: make it easier to control lamps and switched outlets without rewiring, Wi-Fi, apps, or complicated setup. Our plug-in transmitter and receiver system is being developed to let homeowners transfer control from an existing switched outlet to another outlet—and synchronize multiple lamps from a single wall switch.
The concept has come a long way, but developing a product and building a successful business around that product are two very different challenges.
That’s where Venture Creations can help.
Right now, our involvement is primarily focused on coaching: examining the business model, challenging assumptions, refining our strategy, and helping us think through the steps required to bring PSYNQ to market successfully.
As a product designer and entrepreneur, it’s easy to spend most of your time thinking about the product itself. Having experienced outside perspectives asking the right questions is incredibly valuable as we work through customer validation, positioning, manufacturing, pricing, and our path to launch.
There’s still plenty of work ahead, but being accepted into Venture Creations is an encouraging milestone for PSYNQ—and another step toward getting the product out of development and into customers’ homes.
We’ll share more as we continue moving forward.
Learn more about PSYNQ: psynq.com
Learn more about RIT Venture Creations: rit.edu/incubator
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