Going Deep into the Vertical
In SOSV as well as MOX, we try to go very very deep into the vertical. So we have accelerators that focus strictly on biotechnology. We have accelerators that focus on food technologies. At MOX, we specifically target startups in mobile applications. Therefore at MOX Accelerators what we do is gather a community of mentors that are specifically for mobile and specifically for emerging markets. So we try to provide as much help as possible in order for the company to enter into markets they are not familiar with. For example, emerging markets like India, Indonesia, Philippines, are very difficult to tap into. Which is why most of the companies are coming from U.S. or Europe. So they know very little about these countries.
What MOX tries to do is provide the help necessary to enter and be successful in those countries. One of the main things we are trying to solve with MOX is that the cost of user acquisition is actually higher than the lifetime value. The money that apps can generate into this market. Which is why we try to localize the product and through partnerships we have in those markets, we try to reduce to zero the cost of user acquisition. This is why we are very very specific.
MOX is a strange beast
What we try to solve is a problem that is across multiple stages for companies. So we have publically listed companies that were trying to solve this problem. The problem of having to pay a lot of money for acquiring users into those markets. Therefore we are trying to provide free user acquisition for those companies. These solutions are applicable for companies in multiple stages. How do we do this? We divided our program into three phases.
The first phase is that we integrate different tools in order for the companies to have a metrics and analytics to understand what the market is about.
Second, we test the market with real users. So we can understand what is the reaction to that particular product.
The third phase is having relationships and partnerships phone manufacturers and telcos.
We try to pre-install the app, sideload the apps or push the app into different markets. This helps even publically listed companies to acquire users and acquire value.