Introducing Tarmac Technologies
Q: Could you introduce yourself and your company?
A: I’m Anthoine, a French engineer and one of the co-founders of Tarmac Technologies. We’re a French startup operating within the aerospace industry. Our primary focus is on assisting airlines and ground handlers, essentially any entity involved in aircraft ground operations, with optimizing their activities while the aircraft is on the ground. Our goal is to help these organizations enhance their operational efficiency and minimize delays, contributing to smoother and more reliable air travel.
Q: How did the concept of Tarmac Technologies originate?
A: The initial idea for Tarmac Technologies was sparked by one of our co-founders, who has extensive experience in ground operations. She identified a significant gap in the market for a digital solution to enhance the efficiency of these operations. Motivated by her insights, we embarked on a thorough exploration of the idea, conducting user feedback sessions and interviews with potential customers. These efforts confirmed the demand and willingness in the industry to adopt such innovative systems. Following this validation, we developed a proof of concept (POC), which gradually evolved into the comprehensive solution we offer today. This process underscored the industry’s need for our services and the positive impact our digital solutions could have on streamlining ground operations.
Why Founders Factory?
Q: What drove you to join Founders Factory?
A: Joining Founders Factory was a strategic move for us, primarily because we were a small team and inexperienced as founders, with Tarmac Technologies being our first startup venture. Being French, we recognized the need to gain a broader perspective on the international landscape of the aerospace industry, beyond just the French viewpoint. Founders Factory offered us the structure and global outlook we were seeking, especially considering the highly international nature of our work with airlines worldwide. Moreover, Founders Factory’s corporate partnerships presented a valuable opportunity for growth and development in our startup’s early stages. These partnerships have indeed played a crucial role in our journey, contributing significantly to our progress and helping us navigate the complexities of the aerospace sector on a global scale.
Founders Factory’s Application Process
Q: Could you describe the application process for Founders Factory?
A: It’s very comprehensive. Initially, it involved participating in several interviews conducted by Founders Factory, accompanied by a written component that was less of an application and more of a presentation of our startup, highlighting key performance indicators and other relevant details.
A distinctive aspect of the process was engaging in discussions with industry experts and representatives from one of Founders Factory’s corporate partners. These interactions were invaluable, offering us a platform to present our idea to individuals with deep industry knowledge.
Even though there was a possibility of not being accepted, the feedback received during these stages was incredibly beneficial. Experts provide candid insights, differentiating from potential clients who might not always express genuine disinterest or concerns. This feedback mechanism is instrumental, offering perspectives on areas for improvement and refinement, regardless of the application’s outcome. The process itself, including interactions with experts and receiving their honest feedback, proved to be a learning experience, enriching even for those who might not ultimately join the program.
Q: What factors do you think contributed to your company being accepted into Founders Factory?
A: Two primary factors played a crucial role in our acceptance into Founders Factory. First, the product-market fit of our solution within the aerospace industry was essential. Even for early-stage startups, demonstrating a clear alignment between the product and market needs is critical. The involvement of industry experts in the interview process helped assess this fit accurately, ensuring that our product addressed a genuine demand.
The second, equally important factor, was the founding team itself. At such an early stage, the evaluation is as much about the potential of the people behind the startup as it is about the product. The personalities of the founders, their ability to work cohesively, and the unique strengths each brought to the venture were significant considerations. The synergy among founders, their shared vision, and complementary skills are indicative of the startup’s capacity to navigate challenges and capitalize on opportunities. These aspects, combined with our product’s market relevance, were decisive in our selection for the program.
Inside Founders Factory Program
Q: How was the Founders Factory program structured?
A: Our experience with Founders Factory was quite unique due to our acceptance amid the COVID-19 pandemic, necessitating that the majority of our interaction and support be conducted online. Despite the geographical challenges, being based in France and not physically present in London, the program provided extensive support across various critical areas. This included specialized guidance from experts in marketing, design, and sales, essential for refining our approach and strategy in these domains.
Moreover, we continued to have access to industry experts—those who were involved in our interview process—who remained available to offer continued assistance throughout our journey. This ongoing support was invaluable as it allowed us to maintain a direct line to seasoned professionals who were deeply familiar with our project’s specifics and the aerospace industry at large.
In terms of structure, the program included regular check-ups, either weekly or bi-weekly, which served as a platform to assess our progress, address any emerging challenges, and discuss both professional and personal developments. This comprehensive support system, encompassing both expert advice in specific fields and broader oversight of our startup’s trajectory, was instrumental in navigating the early stages of our growth, especially during the uncertain times brought on by the pandemic.
Q: How do Founders Factory mentors provide support?
A: Founders Factory offers a blend of advisory and hands-on support, tailored to the specific needs of our startup. In areas such as product development, design, and marketing, the support was particularly hands-on, guiding us through the intricacies of launching marketing campaigns, structuring sales strategies, and refining our product’s design and functionality. This dual approach of combining strategic advice with practical assistance in key areas was instrumental in our development.
Q: Does Founders Factory provide funding?
A: Regarding the financial aspects of our engagement with Founders Factory, while I’m not at liberty to disclose the exact investment figures, I can confirm that the funding provided is in the vicinity of the 100,000s. However, I’m unable to share details regarding the equity percentage taken by Founders Factory. The terms of the investment and equity were part of our agreement, tailored to our startup’s specific situation and the nature of our collaboration with the accelerator.
Achieving Milestones and Overcoming Challenges
Q: Could you share a significant milestone achieved during the program?
A: During our time with Founders Factory, we reached several important milestones that collectively propelled our growth and development. Among these achievements, signing our first major corporate client stands out as a pivotal moment, showcasing our capability to attract and serve large-scale customers within the aerospace industry. Additionally, we deployed a new version of our product, reflecting our commitment to continuous improvement and innovation based on feedback and evolving market needs.
While it’s challenging to delineate which accomplishments were directly attributable to Founders Factory’s influence versus those we achieved independently, their support undoubtedly played a critical role in enhancing our strategies and operations. For instance, executing a more effective marketing campaign, tailored to our B2B context, was a significant step forward. Though not a marketing campaign in the traditional sense, this initiative improved our market presence and engagement with potential clients.
Moreover, Founders Factory assisted us in structuring our processes more efficiently, contributing to a more streamlined and focused approach to business development and operational management. These milestones, achieved during our collaboration with Founders Factory, have been instrumental in our journey, marking key moments of success and learning.
Q: Did you face any challenges or come across unexpected aspects of the program?
A: Reflecting on our experience, one aspect I would have liked to change is the opportunity for more on-site engagement, which was largely influenced by the restrictions during COVID. Understandably, this limitation was outside of Founders Factory’s control, but the chance to interact in person with the team and other startups would have been valuable.
Additionally, I hoped for more opportunities to meet with potential corporate clients, not just within Founders Factory’s immediate corporate network but perhaps extending into their second or third circles. Such introductions could have broadened our exposure and facilitated valuable connections with a wider array of potential partners and clients. Increasing the frequency and diversity of these corporate meetups would have enhanced the program’s value for us, providing more avenues to pitch our product and secure strategic partnerships.
Current Status and Future Goals of Tarmac Technologies
Q: What is the current status of Tarmac Technologies, and what are your future objectives?
A: Tarmac Technologies is currently in a phase of growth and expansion. Our team has reached a count of 10 members, which is a testament to our development and the increasing demand for our solutions.
Looking ahead, our primary focus is on further international deployment and development. With a growing roster of international clients, our goal is to expand this user base and extend our global footprint.
Additionally, we are aiming to diversify our client base by targeting a new type of client, specifically focusing on working more closely with airports. This strategic move is designed to broaden our impact within the air transportation ecosystem and address the operational needs of a wider range of stakeholders. These steps are pivotal in our journey towards becoming a leading solution provider in the aerospace industry, driving innovation and efficiency in ground operations on a global scale.
Advice for Prospective Founders Factory Applicants
Q: Do you have any final tips for founders considering applying to Founders Factory?
A: My advice to founders contemplating an application to Founders Factory is straightforward: go for it. The benefits of being accepted into the program are considerable, providing not only the resources and support needed to scale your startup but also valuable exposure to industry experts and potential partners.
However, the application process itself is also immensely valuable. It offers a unique opportunity for self-reflection, business model validation, and receiving feedback from seasoned professionals. This experience can be instrumental in refining your pitch and understanding the market better.
That said, while participating in accelerator application processes can be beneficial, it’s important to balance this with the focus on your startup’s growth and development. Spending too much time on applications without progressing your business could be counterproductive. Therefore, approach each application thoughtfully, ensuring it aligns with your startup’s stage and goals, and use the experience to enhance your entrepreneurial journey, regardless of the outcome.