INSIGHTS / Blog

Famiio is developing an online ecosystem where providers of childcare and family services can promote their availability in one place nationally. That has huge benefits for local authorities (LAs) as well as the suppliers and users of those services. We’re applying a similar level of innovation seen in the commercial space – in hotels, travel, and other disrupted sectors – and bringing that into GovTech. By increasing citizen self-service we estimate the platform could save LAs up to £160 million every year in the UK. In the post-COVID world, its relevance and need will be even greater.

 

 

As an associate member of the SETsquared Scale-Up programme we were already aware of the Business Model Canvas, a key part of the Innovation Workout. But the Famiio proposition is a multi-faceted platform with multiple revenue streams and stakeholders which each need clear definition. Our biggest challenge has been to define our business model in all its complexity and hone it so that it can be simply communicated.

The great benefit of the Innovation Workout, for us, was working through the Business Model Canvas, testing our hypotheses and assumptions. That has enabled us to focus our model quite significantly.

What we also found incredibly helpful was the robust challenge that we had from our SETsquared facilitator. She really ‘held our feet to the fire’ and challenged every assumption. When you are an expert in your field, that can be quite difficult to receive. But she encouraged us to see things from the point of view of customers and other stakeholders and that was invaluable.

I have to say that the way the team from SETsquared positively and productively challenged us was a big differentiator. They made a genuine effort to understand our world.

Going forward that’s meant that we feel better equipped to ‘sell’ our business model to potential funders, investors and customers. Previously we’ve faced people saying to us, for example, that ‘other businesses are doing the same as you’, but now we feel much better equipped to communicate what differentiates the Famiio platform.

We’re more confident that we can communicate our business model to really differentiate us in the marketplace and become very difficult to beat. In our sector we want to be the lead player, not just in the UK but globally, and the workout is a big piece in the jigsaw towards achieving that.

Both Carole – my fellow founder – and myself, would thoroughly recommend the Innovation Workout for any business. It’s been invaluable. We were particularly impressed with their flexibility and adaptability to move a fully interactive workshop on to an online platform so as to continue operating within the constraints of the COVID-19 situation.

We’ve also had a follow-up session which was very good. We really felt as though we had been heard and understood.

We have applied for £2 million of grant funding – some COVID-related. With further investment we aim to recruit a bigger team, and to get our product live in the next six months. We can now prioritise the development of our platform around the features that we know will work, having tested the hypotheses in the Innovation Workout.

If you are currently growing a digital business, the Innovation Workout will put you on the path to success.

Find out more and register