Elevatr is a new mobile app from 23-year old CEO David Spiro and New York-based app development agency Fueled. The free iOS app is designed to help entrepreneurs keep track of their concepts and develop effective models, in hopes of turning innovative ideas into practical business plans. Elevatr is basically a note-taking app that makes a traditional business plan accessible for concept development on mobile devices.

“It became very clear that entrepreneurship — and people inspired by the startup revolution — is more than those actually studying entrepreneurship,” recent University of Michigan engineering and business grad Spiro explains. “I was really inspired to take those tools that I was taught to use, and create a mobile-first product that could apply to more than just those people who were in my classes.”

“We’ve taken the structure of a traditional business plan and integrated the best from free-form note apps to create a product that guides your ideas into concise plans worth executing,” explains the Elevatr description in the iTunes App Store. “

Our mission is to help turn your ideas into businesses. 

We are first launching the productivity tool for personal use. Moving forward, we plan to build sharing and collaboration into the product so users can help each other build ideas into businesses.”

The process is simple. Entrepreneurs begin by describing their idea in 140 characters or less, much like Twitter. Then users are walked through a standard business model creation process, “filling out details as to the target market, market size, competition, differentiation, features and uses, and so on,” reports TechCrunch. “There’s also plenty of room for free-form note making in Elevatr, so you can really flesh out your ideas and plans.”

While currently designed for personal use, future plans for Elevatr include built-in collaboration tools and the ability to export ideas to a responsive website for sharing ideas with others.