Apart from those who prefer to hook up with an accelerator or incubator, young entrepreneurs just do not have the experience or knowledge needed to do a thorough job in the course of starting up a business. So, while Russian project Test4Startup, which launched earlier this year, may not be able to offer founders a perfect roadmap to success, they believe that they have crafted a formula to provide insight into what sort of obstacles you will face.
The idea behind Test4Startup is that users can submit the concept for the project and have it be processed by an algorithm. Then, 24 hours later, users receive a report indicating the type of success that the startup can expect to have, investor activity in that sector, trend-availability, the advantages and disadvantages that your competitors enjoy, potential marketing avenues, and so forth. Test4Startup has opted to charge users a flat-rate, taking $10 in exchange for the full report on your intended market, information about competitors, and recommendations for your project (such as prices). For $15, users can have that, as well as data drawn from focus-groups of professionals.
Test4Startup co-founder Gladikh Artem tells me that he and a colleague in the mathematics department at State Technological University have been working on the algorithm for awhile, finally releasing it this January. Since launching the service, which they did with their own funds, they have picked up about 500 users, but note that they have not yet advertised, attracting users solely through ProductHunt. They are targeting startups with a low-cost solution for the time being, but ultimately intend to branch out and connect with larger companies.