Location: Washington, DC
Course: FastTrac TechVenture - Graduated 2012
Affiliate: North Virginia Technology Council - Graduated 2012
Build the concept. InQbation develops in-depth expertise about specific industries’ information- and communication-technology needs, then accelerates and incubates web applications that meet those needs. One of its products automates website development and deployment for well-defined segments, such as dental offices or real-estate agencies, which have similar needs.
Plan the strategy. Industry professionals know their business. InQbation Labs’ knows how to quickly, efficiently provide web-based information and communication solutions that help those businesses operate effectively. By building template-driven web applications that can be replicated and customized, it is able to leverage economies of scale and deliver websites in hours or days instead of weeks or months for hundreds of dollars instead of thousands of dollars. In addition to web and mobile-enabled design, its areas of expertise include search-engine optimization, digital marketing, cybersecurity and project management.
Grow the revenue. Newman explains that focusing on commercial, government and nonprofit business sectors that already are well defined made it easier to identify and pursue prospective clients, predict each sector’s consistent needs, and anticipate its functional requirements. As a result, InQbation’s revenue has grown each year. The team – which is organized by technological expertise -- also authors and/or shares blogs that help draw attention to its website, its services and to “love letters” from its existing clients.
Expand the market. Newman says continuing to identify and market to well-defined business niches with consistent and predictable needs -- higher education, for example -- will be key to future growth and expansion. He also will reorganize and/or add specialists to his team to maintain a high level of expertise as new technologies develop.
Insight/Hindsight. “My FastTrac experience confirmed how important it is to be crystal clear about the focus of my company and the expertise it is designed to provide. I came away even more convinced that the best companies are created by people with detailed, inside knowledge about an industry that few others know about or know how to apply.”