How students and Trioova founders accomplished one of the greatest entrepreneurial challenges.
Making the “business pivot”—changing the company concept in response to market feedback—is hard even for experienced entrepreneurs.
“You’ve put your heart and soul into a business and then you realize that for whatever reason, it’s just not viable. What do you do?” asked Arden Tse, manager of the University of Alberta’s Venture Mentoring Service in the Office of Advancement. “Switching directions takes a lot of courage.”
But that’s just what the founder of Trioova, second-year MBA student Luke Butterworth, did in the summer of 2017—giving up more than a year’s worth of time and money on what he believed, at the time, to be the best way to fill a major gap in the health-care system.
“Trioova began as a software platform that would connect disability insurers and employer groups with health professionals through an e-referral s...