As a technology partner of choice for startups globally, EPAM Startups & SMBs provides free business advice for startups at various stages of growth to address their business, product and technology roadblocks.
We review and assess your business plan and talent strategy, suggesting a way to go in terms of workforce and market share capture. This can be invaluable for any startup founder planning ahead their approach to staff and long-term company sustainability.
We give you a fresh perspective on your product vision, strategy and development roadmap, so you can make a confident next step. This includes digital marketing advice for startups to capture and grow your network of loyal users.
We provide recommendations on your product architecture, tech stack, development processes and metrics to future-proof and grow your product, ensuring delivery excellence.
With us, you get a chance to join the big league. EPAM has come a long way from a budding team of software engineers in 1993 to being one of the fastest growing public tech companies in the world as of today. We’ve been there, done that — and now are ready to share the knowledge so you can make your progress faster and fail-safe.
Every application to this free advisory program will go through evaluation to make sure your company qualifies. Your startup is expected to operate as a legal entity, have an operational team, and have initiated product development, even if it’s still pre-MVP.
*Please note the number of spots on this advisory program is limited at any given time. If there are no spots available, you may be put on the waiting list.
After your startup’s successfully evaluated for a spot on this advisory program, we set up an intro meeting and sign an NDA before proceeding.
We work with you to refine your problem statement and set the goals and scope for our advisory assistance with clear expectations.
At this stage, we assign the best-matching advisor to assist your company and the work kicks off.
The advisor will work with you on your set goals and problem resolution, providing recommendations and feedback as required. This will typically amount to up to 16 hours of advice.
Apart from applying to this free advisory program, there are multiple ways you can find a startup advisor to help you make positive progress with your business:
Before you engage with a potential advisor, prepare yourself and know what challenges you are looking to address. It's important to let them know why you think they are a good fit and what kind of advice you are seeking.
Firstly, try to connect with experienced entrepreneurs, particularly those who have journeyed in your chosen industry. They've been where you stand - at the starting line of a business venture, so they can provide you with insights, share their own experiences, pitfalls to avoid, and how to navigate the world of entrepreneurship. But remember, every experience is unique, so what worked for them might not exactly work for you. Still, of course, their lessons can help you avoid certain mistakes and give you a clearer vision of the path ahead.
One underestimated source of assistance can come from business advisors. Their purpose is to provide guidance, based on years of experience assisting businesses at every stage of development. They can offer you valuable perspectives on your business plan, marketing strategy and even methods to manage your business effectively.
One important piece of advice is to not shy away from having key discussions with lawyers. Understanding the legal landscape where your business will operate is crucial. This may concern your business structure, its formation, documents, agreements, legal compliance, as well as intellectual property rights — the legal bit of setting up a business is really fundamental.
Lastly, potential investors can provide unique insights when you're starting a business, particularly on what they look for in a successful startup. Even if you are not looking for investment right away, the feedback you get may help you fine-tune your business proposal.
Crafting a succinct and impactful problem statement is a critical aspect of your startup advisory program application. So, here are some steps you can follow to make it effective.
First, identify the problem clearly. Your problem should be a specific issue that your startup is facing. Try to avoid being vague or overly broad.
Next, back up your problem statement with real data. Use numbers, if possible, to give context to the problem you’re experiencing and show its magnitude.
Then, express the impact of this problem. How is it affecting your stakeholders or users? Highlight what's at stake if the problem continues unaddressed. What potential losses or inconveniences are involved? Be careful to differentiate between the superficial appearance of the problem and what's underlying it.
In general, it’s recommended that your problem statement answer these questions: