LaunchHouse showed off the inaugural 10 tech startup companies in its LaunchHouse Accelerator (LHX) Showcase Day on Wednesday, November 28, as the companies made their first public pitches to attendees and potential investors.

LaunchHouse selected the 10 companies from a pool of more than 50 initial applicants last summer. The LHX companies received an initial $25,000 investment and participated in a 12-week program to grow their companies to the validation point.

“We took a customer-centric approach to our accelerator,” explains LaunchHouse founder Todd Goldstein. “We’re different than the typical, ‘I have an idea, I’m going to build it and then sell it to customers.’ We took the idea, identified who the customer was, and who was going to buy the product.”

This customer-centric approach meant that many of the LHX companies altered their original ideas as they talked to potential customers and develop their products. “They started with one solution and ended up with something completely different,” says Goldstein.

For instance, Tagora originally had an idea for an online marketplace like Craigslist or eBay. “What they found was there were 20 other sites out there trying to be a marketplace,” says Goldstein. “After talking to 200 strangers from all walks of life, they developed an aggregate site, providing one-stop shopping for posting all second-hand commerce online.”

Goldstein says the customer-centric approach works for both the companies and the region. “We really believe this is the way to do it -- for job creation, for wealth creation,” he says. “All 10 companies started at the same time, and they started feeding off each others' ideas and helping each other.”

More than 140 investors from across the country came to Showcase Day to hear the 10 pitches.

Source: Todd Goldstein
Writer: Karin Connelly