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Launch a Food & Beverage Services AI Venture: Your Step-by-Step Playbook
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Who we are
We’re a team of engineers, designers and venture builders. We partner with industry experts to build and launch AI and software ventures.
We combine your insight and network with our proven playbook and venture building expertise to turn bold ideas into globally scalable products.
We back ventures with capital. With skin in the game our support goes far beyond deliverables, we’re an invested partner in your success.
Here to support from idea conception, to commercialisation and well beyond launch.
Who you are
An industry insider with deep domain expertise with the network and connections to gain early adopters. You’re ready to disrupt your industry and are looking for a venture partner who understands launching tech and AI ventures to go on this journey with you.
What you get
Gain access to our team who will guide you through the process of launching an AI Venture. From the strategy to the execution. Everything from crafting your product strategy and your GTM strategy to building your technology and providing you access to capital.
What we get
We get access to the industry insiders who understand the processes and pain points in the industries which we don’t have an inside view on, to enable us on our mission to put Australia on the map for launching successful tech ventures.
Our Venture Building Service
Building a product is easy. Building a business venture is hard. The Venture Building Engagement is a three week process uncovering the risks, commercial opportunity and strategy for success. This process focuses on two key areas; GTM Strategy and Product Strategy.
Understanding GTM Strategy
Your Go-To-Market (GTM) Strategy lays out how to validate your assumptions, turn research subjects into early adopters, find reliable awareness channels to scale, until you hit product-market fit.
The process includes:
- Defining your customer segments, demographic and psychographic
- Crafting messaging that directly addresses core pain points
- Designing a pricing model that balances adoption and margin
- Selecting awareness and acquisition channels
- Building funnel stages to convert awareness into paying user
Understanding Product Strategy
Your Product Strategy defines a product hypothesis that captures your unique value proposition. Then, we translate that into a living roadmap that:
- Delivers tangible value early
- Unlocks key stages of your GTM strategy
- Prioritises development based on commercial priorities and risk management
The process includes:
- Defining key feature sets that unlock user value
- Creating customer journey maps designed to reduce time to value
- Creating a proposal to estimate the time and costs of a stage development
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The Venture Building Engagement:
$15,000
You’ll walk away with:
A clear articulation of your commercial opportunity
Estimated build and operational costs
A strategic roadmap for execution
Multi-chain reasoning: the big threat to service based businesses
Multi-chain reasoning is AI's ability to think through complex problems and tackle it by systematically working through multiple steps of thought.
AI models can cross-reference previous insights, go down different logic paths based on the outcomes of previous steps and derive deep insights. This means AI will be able to do many service based tasks. Even service roles which require deep-thought such as consulting.
In June 2024, Open AI released GPT-4o which saw a significant increase in AI's multi-chain reasoning ability. As AI is increasingly used by businesses to save time, this presents an inevitable race to the bottom for any time and materials service based industry.
Some service based businesses will set up custom GPTs to help produce insights and install an AI receptionist and do AI invoice management. This will help improve margins short term but this just means you're in a better position to win the race to the bottom.
But it's not all doom and gloom, in fact the AI evolution will be used to create incredible growth for some forward-thinking business owners.
How do I use AI to unlock growth?
Imagine an AI platform that thinks like your best team member, but runs 24/7, never forgets, and never burns out. Building a bespoke multi-reasoning platform designed to think through a niche set of problems based on your unique frameworks and trained on all your past engagements can produce results magnitudes better than the latest Open AI models.
This is not procedural automation for your business. By packaging your experitise into an AI platform you are creating an entirely new business pillar with a fundamentally new offering, Software as a Service (SaaS).
With smart engineering, many service based business can replicate their entire service offering digitally.
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Not only know do you have a business pillar in which revenue is no longer tethered to worked hours, designed effectively, the right platform effectively cuts through pain points of running a service based company.
Problem
Takes a long time to deliver service.
Solution
AI can deliver service instantly.
Problem
Support is limited to staffed hours.
Solution
AI can provide 24/7 support.
Problem
It's hard to scale as recruitment and retention is an expensive challenge.
Solution
Your platform can scale revenue generation independent of team size.
Problem
Service quality is inconsistent dependent on team member.
Solution
Deliver high quality results everytime.
While off the shelf LLM tools such as ChatGPT and Gemini can provide some efficiency gains, building a bespoke platform custom built for your industry has unique advantages. It's taking this leap which allows you to license a digital solution to your customers and competitors.
Building an ecosystem, not just a service
Expanding beyond a service business into complementary pillars, such as technology and data services allows you to build lasting brand equity and commercial mass. This allows you to own an ecosystem and not just a service.
Funding
While our aim is to get you to be generating revenue within 6 months there is a capital investment involved in launching a tech venture. There is a range of funding options available which can reduce your risk and in some cases completely offset the financial costs of launching.
R&D Tax Incentive - Claim 43.5% of eligible expenses
Launching an AI platform can unlock the eligibility to the R&D Tax Incentive, a program allowing you to get back 43.5% of your eligible expenses.
With the right framing, many firms discover that 80–90% of their companies costs are claimable.
Our R+D Partner:
RD Certainty.
R&D Upfront Loan - Gain 80% of your claim in an upfront loan
Our financing partner could lend you 80% of your estimated R+D return which you pay after tax time (this is when you receive your R+D rebate) So you can start building and innovating without waiting for tax time or outside capital.
The process is fast with loan application approvals within 48 hours and funds received within 24 hours of document signings.
Our R+D Partner: Advanced R+D
Our R+D Partner:
Advanced R+D
Mayfly Investment - Remove 30% of development costs
As a venture studio, we back what we build, literally. We’ll reduce your upfront development costs by up to 30% in return for equity in the venture we co-create with you.
With real skin in the game, our support goes far beyond deliverables, we’re an invested partner in your success.
Outside Investment - Access
Through our network of VCs, syndicates, and angel investors, we connect you with capital that fits your vision and stage. We help you get investor-ready and introduce you to investors whose mandates align with your venture.
R&D Tax Incentive - Claim 43.5% of eligible expenses
Launching an AI platform can unlock the eligibility to the R&D Tax Incentive, a program allowing you to get back 43.5% of your eligible expenses.
With the right framing, many firms discover that 80–90% of their companies costs are claimable.
Even consulting time can be used to help create the frameworks which train the AI and therefore count as an eligible expense.
Our R+D Partner:
RD Certainty.
R&D Upfront Loan - Gain 80% of your claim in an upfront loan
Our financing partner could lend you 80% of your estimated R+D return which you pay after tax time (this is when you receive your R+D rebate) So you can start building and innovating without waiting for tax time or outside capital.
The process is fast with loan application approvals within 48 hours and funds received within 24 hours of document signings.
Our R+D Partner:
Advanced R+D
Mayfly Investment - Remove 30% of development costs
As a venture studio, we back what we build, literally. We’ll reduce your upfront development costs by up to 30% in return for equity in the venture we co-create with you.
With real skin in the game, our support goes far beyond deliverables, we’re an invested partner in your success.
Outside Investment - Access
Through our network of VCs, syndicates, and angel investors, we connect you with capital that fits your vision and stage. We help you get investor-ready and introduce you to investors whose mandates align with your venture.
Case Study
Here’s how our team of designers, engineers and venture building disrupted the logistics industry.
The Challenge
Route optimisation is already complex for logistics companies with driver, vehicle and destination variables. Xtreme Freight specialise in transporting dangerous goods which create exponentially more complexity with thousands of goods compatibility requirements.
The Solution
Mayfly learned every step of the value chain and industry landscape to define a strategy around an API first solution which would allow for a GTM strategy with far penetrating reach while limiting development requirements.
Mayfly’s team of designers, developers, and AI engineers works in rapid sprints to bring the vision to life which effectively turned a 16 hour process into a 4 second task.
AI Curious? Let’s talk.
We would love to learn more about your business and explore how we can work together.
Start your AI Journey
Join us at one of our Industry Events
We put on events with industry leaders:
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AI for SMEs:
A collaborative workshop for SME business owners
