Technology has to be invented or adopted.
– Jared Diamond
The quote rings true when we think about the entrepreneurship industry. There’s no doubt that entrepreneurship is a booming industry. But with its perks come disruption, behavioral changes, and the imminent risk of failure. Hence the entire industry has evolved and led to the creation of startup studios.
These non-cohort-based entities provide support and resources to promote the startup's growth and help pinpoint problems and turn them into viable businesses.
But how do these startup studios work? Are they any different from incubators or accelerators? Read on to learn more about startup studios and how they can scale your business.
What is a Startup Studio?
Startup studios, also referred to as startup foundries, factories, or venture studios, are businesses that give startups an initial impulse to establish themselves. In short, it is a startup that creates other startups. They consist of experienced investors, founders, and experts who use their knowledge to develop ideas and partner up with entrepreneurs/businesses when a viable idea emerges.
In theory, this is what a startup studio is – a firm creating other startups simultaneously. But, in practice, what exactly does it do?
What Does a Startup Studio Do?
A brief overview:
Startup studios are responsible for repeatedly building businesses using market-tested disruptive ideas and their pooled resources. Unlike incubators and accelerators, they partner with your business like an investing co-founder.
Primary Services of a startup studio:
- Develop new ideas for startups
- Partner with businesses to help
- Provides financial capital, team, management processes, strategic plans, and technical tools
- Utilizes expertise, pooled money, and other resources to establish a business
How it works :
- Brainstorming for ideas
- Checking the feasibility of the idea
- Making prototypes and improvising
- Spinning out teams
- Funding and scaling up
We know startup studios differ from startup accelerators and incubators, but where does the difference lie?
Startup Studio Vs Startup Accelerator Vs Startup Incubator
While they’re often confused, startup studios, accelerators, and incubators are quite different.
Startup studios partner with individual businesses and work as a co-founder i.e., they work with a hands-on style. Hence, they also get huge equity in return (almost 30-60% compared to 7% of accelerators and no equity of incubators).
On the other hand, incubators and accelerators are basically cohort-based training and mentorship programs that only last for a specified duration. However, startup studios help build the startup from scratch and stay until it is completely established.
A difference also occurs in the joining stages i.e., the stage at which you join these programs. Incubators, generally, only take in startups that have their business idea ready. In contrast, the accelerators expect an ideal MVP, a dedicated team, and good traction before employing a startup.
A startup studio's initiation stage depends on its operating model. It can partner up with a business that only has an idea or a business that already has a management plan. But it usually prefers building the business from the ground up.
While startup studios are a fairly new concept, there are already some well-established ones in the market that are changing the entrepreneurship game one business at a time!
Notable Startup Studios
Some notable startup studios that have established themselves and shown that it is possible to grow different businesses simultaneously are:
Rocket Internet
Built by brothers Oliver, Marc, and Alexander Samwer, Rocket Internet was launched to scale internet companies online. The firm says that they’ve industrialized the process of business and are reigning in massive profits. The company has a net worth of €3.3 billion as of 2014.
Idealab
Launched by Bill Gross in 1996, Idealab resulted from his decision to shift from being a serial entrepreneur to a parallel entrepreneur. Since its launch, the company has taken on more than 5000 ideas and birthed 150 companies and 50 IPOs and acquisitions.
Betaworks
Betaworks is a company established in 2008 by former Time Warner exec John Borthwick and former AOL exec Andy Weissman. While they incubate projects internally and give space to “Entrepreneurs In Residence,” they also run a three-month in-residence program called Camps
HVF Labs
HVF or Hard Valuable Fun is the product of PayPal co-founder Max Levchin, launched in 2011. The firm focuses mainly on businesses that use data to create value. Unlike other startup studios, they only take on two projects for a period of 12-24 months.
These instances of startup studios showcase massively popular firms that are backed by established entrepreneurs and well-rounded teams of tens, if not hundreds. So, does it mean that all startup studios use heavy coding and expensive resources to stimulate new ideas into businesses and formulate strategic plans?
No! There are several startup studios that leverage no-code tools to create successful businesses that are now doing quite well in their respective industries. Some of the best-known examples of such startup studios that specialize in no-code are:
Best Startup Studios that Leverage No-Code Tools to Rapidly Design, Deploy and Scale
The following are the best startup studios leveraging no-code tools to build and scale businesses:
1. Round Pegs
Round Pegs is a startup studio that manages, tracks, validates, and helps grow your innovations and ideas. Launched in 2016 by Pedro Donati, the firm does not fit into traditional corporate models. It is a design-driven innovation studio that leverages disruptive ideas to create startups.
They work with all stages of development i.e., from experimentation and validation of ideas to the establishment of the business. Besides ideation, they also offer a mentorship program called Round Insights.
Factsheet:
- Official website: https://www.roundpegs.com/
- Founded in: 2016
- Location: Brasil
- No-code tools specialty: Bubble, Adalo, and Webflow
- Pricing: $5,000+
- Testimonial: NA
2. Million Labs
Million Labs is a startup studio that has been using no-code tools to launch businesses since 2018. The company has established itself as a global brand with 14 languages and support of 400 no-code tools.
The firm provides free access to beginner’s Bootcamp as well as the support to build an entire application. Moreover, it offers Super Early Seed funding to founders who have signed up for Million Labs services.
Factsheet:
- Official website: https://millionlabs.co.uk/
- Founded in: 2018
- Location: United Kingdom
- No-code tools specialty: Bubble, Webflow, Zapier, Airtable
- Pricing: The price quote depends on the complexity of the no-code application.
- Testimonial:
"We are so pleased we came across Million Labs when we did. Their experience and expertise have been invaluable in taking our app to the next level and launch-ready. Their technical ability combined with their startup mindset is a critical must-have for any founder who needs a team that ‘gets it’.
– Sonya Kimpton de Ville (Founder of PA in Your Pocket)
3. Cube
Cube is a no-code startup studio that maximizes speed, experimentation, and iteration through this coding technology. The company supports the product from the co-creation sprint to the eventual scale-up of the product.
Within the initial two weeks, the company will ideate and scope out the optimal product launch strategy. Following it would be the starting stage of 2 to 3 months, including the launch of the product's first iteration. Finally, in the scale stage lasting 6 to 24 months, experts of Cube would work alongside your team to boost the growth of the product.
Factsheet:
- Official website: https://www.cube.fr/
- Founded in: 2019
- Location: France
- No-code tools specialty: Bubble
- Pricing: Subject to application
- Testimonial: NA
4. Shadow Creative Studios
Shadow creative is a design and research-based startup studio incorporating Agile and Scrum project management techniques to provide the best results. If you’re looking to mitigate huge amounts of content, the startup will help with SEO optimization, keyword research, and “Serp-In” Content.
The company works collaboratively by conducting workshops, exercises, and discussions to bring the idea to life. After conceptualization, a working prototype is created to encapsulate the project’s vision and eventually launch the product.
Factsheet:
- Official website: https://www.shadowcreativestudios.com/
- Founded in: 2019
- Location: United States of America
- No-code tools specialty: Bubble, Adalo, anFd Webflow
- Pricing: $10,000+
- Testimonial:
“We felt early on that you genuinely understood the business and worked hard to try to understand our product, our customer, etc. It always felt like above and beyond. Lots of creativity.”
– Kevin S (Founder, Control)
5. Revido
Revido is a startup studio and venture specialist that combines product, development, and marketing resources to successfully establish your idea. The firm is your best bet if you want to outpace your competition while saving your financial resources! They build up the core functionalities first and then spend the time to get the nitty gritty right.
Factsheet:
- Official website: https://revido.io/
- Founded in: 2020
- Location: United States of America
- No-code tools specialty: Bubble
- Pricing: $10,000+
- Testimonial:
“Upgraded’s work exceeds expectations as they offer a combination of quality deliverables, responsive approach, and speedy development. Their outstanding project management complements their personable team, resulting in a positive working environment. They are committed to the product’s success.”
– Sam Atkinson (Co-founder, Swap)
6. Tuesday
Tuesday is a digital marketing agency that retains expertise in design and no-code tools. The company works in small sprints of one week to simplify and mainstream the process. Keeping short durations allows the company and Tuesday to go through the process while simultaneously communicating their requirements.
Factsheet:
- Official website: https://www.tuesday.is
- Founded in: 2020
- Location: United States of America
- No-code tools specialty: Webflow, Airtable, Zapier, Zoho, and several others.
- Pricing: $5,000+
- Testimonial: NA
7. Sommo
Sommo is a software development and IT consulting that promises complete development, execution, launch, and maintenance of products launched under it. The company has successfully built 100+ products in its 8+ years of development using a combination of no-code and low-code. They’ve worked with now-established companies like Upside, Plannly, Miren, Giftcloud, etc.
Factsheet:
- Official website: https://www.sommo.io/
- Founded in: 2021
- Location: Ukraine
- No-code tools specialty: Bubble, and Webflow
- Pricing: Quotes are recommended according to project size and budget.
- Testimonial:
“I was very lucky to come across the team to build our MVP. Andriy, his team and I would have weekly calls to ensure that the project timeline would not delay. The result – the project was completed 4 days before the timeline! We are testing the market now and will continue working with the team for our v2. Overall, a very professional and friendly company to work with.”
– Suraj Daryanani (Giftcloud)
8. The Upstarters
The Upstarters have established themselves as an expert in the no-code development industry. They produce ready-to-use applications and websites with an intuitive interface that helps them stand apart.
Factsheet:
- Official website: https://theupstarters.com/
- Founded in: 2017
- Location: United Kingdom
- No-code tools specialty:
- Pricing: $5,000+
- Testimonial:
“The Upstarters team delivered a beautifully built app for us with an incredibly quick turnaround, and unparalleled transparency. A great experience working with them, and would certainly do so again.”
– Matthew Eisner (Ansible Advisory)
So, now that you know that startup studios are your best bet in concreting your idea into a business cheaply and efficiently, which one should you go for? There are several startup studios with an array of no-code tools, find out what would suit you best.
How to Choose a Startup Studio Best Suited for Your Use-Case?
Before placing your trust and resources in a startup studio, you have to look for certain features. Moreover, it is integral to keep an eye out for the defining features and evident red flags – they can make a huge difference!
Here's how you can choose a startup studio that best suits your needs:
What to look for in a startup studio?
Some things you need to look for in a startup studio are:
- Specialties of the startup studio like Mobile/Web Applications, Marketplace, Website, Productivity Tool, Sales Tool, Integrations & Automations
- Super specialty to fulfill your special use case
- Timely delivery and justified delays
- Budgeted deliverables
- Testimonials or references
How can you tell if a startup studio is good?
Here’s how you can tell if the startup is trustworthy:
- Has legit testimonials from real people
- Has a public presence on other sites
- Offers standard payment
- Doesn’t demand outright full payment
What are the red flags you should be wary of?
Traits that show that a startup studio is bad news are:
- Constant delays without any justification
- No testimonials or online presence
Getting the most out of a startup studio
Startup studios are the future of tomorrow that promises you an application or website that is as attractive as any other. Unlike traditional methods, you wouldn’t have to ideate and iterate on your own – there are startup studio experts to help you at every step. Moreover, no code will ensure that you don’t have to spend huge amounts of money or much of your time waiting for results.
These no-code startup studios promise to create a website or application that beautifully captures your idea without betting everything in your wallet. With a small investment, you’ll get everything you’ve dreamed of. If you face any hindrance, these studio experts will be your way out without investing more money!
Written by Aastha Kochar, a freelance writer at Shnoco.
