I've just got back from mentoring at Launch48. The four start-up teams -- ilikeucoz, decisionsdecisions, vouchacha and mycharitypie each demonstrated that a lot can be achieved over a forty-eight period. The teams researched their markets, built prototype products, branding, logos, a network of social network accounts (Tumblr, Twitter, blogs etc.) for marketing & PR, and rudimentary marketing plans.
There's work to be done for all four businesses in exploring and clarifying the core monetization strategy, but each business has at least a few ideas that it will be researching further. I enjoyed providing a ideas on how some of the businesses could commercialise their ideas, and I think Shed Simove's decisionsdecisions have a particularly wild set of opportunities in being a Web 2.0 "hot or not".