Bankbox is participating in the Chicago Lean Startup Challenge to develop a platform that allows friends to more easily manage money for group activities without fees. Their plan is to conduct qualitative research to understand user needs and test prototypes. They will create low-fidelity prototypes, gather feedback, and iteratively build features. Milestones include initial market sizing, wireframes, an interactive prototype, and analyzing business viability and partnership opportunities to have a minimum viable product by the end of the 10-week challenge.

1. Bankbox
Chicago Lean Startup Challenge | 5 July 2012

2. We’re honored to be a part
of the Chicago Lean Start
up Challenge
BANKBOX | CHICAGO LEAN STARTUP CHALLENGE | 2

3. BankBox will make it easier for friends to do
things together.
Our hope is to build a platform for people to
move their money in the context of the groups
that they belong to. Be it for starting a band or
planning a bachelor party.
Right now, we think BankBox might be the
internet version of the joint bank account.
Without all of the red tape. Or the fees.

4. we don’t know what our
product might look like in
10 weeks.
Please consider this a draft that will evolve as we grow.
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5. here’s our plan to learn
more than 117 other teams.
Getting to MVP Building the Business
// Creative, qualitative research to get to // Analyze the viability of the business from
know the space and find problem-solution the start
fit // Validate risks in the model via
// Quantitative research to drill down (think experiments to validate behavior +
landing pages + A/B testing) researching the partner landscape.
// Throughout the challenge we want
to develop low-fi prototypes to use in
interviews
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6. We’re going to do research
throughout, but here are
our milestones
Breakeven Analysis
Early Market Sizing
Partner + Channel Strategies
Week 10
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Mentors in Place 10 Key Features List
Sketches + Wireframes
Clickable PDF App
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7. We are not waiting around.
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9. thank you!
@harrislevine
@naterock101
Chicago Lean Startup Challenge | 5 July 2012