|
By New York International
Prior to each TEP, W2NYC and International Week, we talk to each participating startup and explain the program, but more importantly we ask about their objectives for coming to New York City. Over the last five years two things have significantly changed: |
At the same time, it has become almost impossible to cut through the noise and know what is relevant and provides value. Noise filters have evolved into to noise cancellation, making personal contacts and qualified introductions more important. A trend that is likely to continue. In that sense, New York City might become the biggest gated community for even the best startups and ideas. |
||
Dublin city, the capital of Ireland, has been proving itself to be quite the location for emerging startups and technologies that can stand up and compete on a global scale. In recent years the city has become home to more than 1,200 startup companies who are producing world class products and services across multiple sectors including FinTech, Lifesciences, IoT, and AdTech. The growth of startup companies and technology in Ireland demonstrates how Dublin is making its mark as a key ecosystem for early stage businesses; helped by an abundance of talented graduates and a strong entrepreneurial spirit among the people of Ireland. Not only is Dublin the location of some excellent home-grown enterprises, but multinational giants such as Google and Facebook— among many others— have made the city their European base.
A large portion of Ireland’ s home grown companies and global multinationals are
|
based in the buzzing Docklands area of Dublin which has appropriately been nicknamed“ Silicon Docks.” The presence of early stage and large international companies has transformed the area from a once relatively industrial part of town to one of its main cultural hotspots with plenty of trendy cafes and bars— a testament to the effect startups can have on the cities they call home.
Exports are key for many Irish companies who are supported internationally by Enterprise Ireland, the government organization responsible for the development and growth of Irish enterprises in world markets. The United States is a key market for a large proportion of these companies, with record export figures to the US reported in 2015.
With rapid development that doesn’ t appear set to slow down anytime soon, a growing number of co-working spaces, and a pool of ready talent, Dublin is holding its own as a global startup capital.
|
1. From“ great to know” to“ must k no w”. In the beginning, companies came without clear businesses models, refined pitches, or even a strategy to do business here. So we initiated a“ Rapid Strategy Check,” for the companies. The check revealed a shift in company strategy. For the first three years we saw the focus on fundraising— pitching investors and presenting ideas. For the past two years though, things have changed. All companies are successful locally and have initial funding; US expansion has become part of almost every business plan. Traction here is mandatory for their continued success.
2. From“ open support” to“ gated communities without a gate.” The tech ecosystems have matured: the number of funds have increased and coverage by specialized web sites has made it much easier to navigate the ecosystem.
|
US expansion has become part of almost every business plan. Looking back, the startups coming to NYC have become really good and at the same time it has never been so hard to get New York’ s attention. Now what? We are inviting the TEP, W2NYC and International Week friends, partners and contributors to a more formal, purpose-driven network of friends with the idea to invest and collaborate for the benefit of young companies, cities, and citizens as a whole. Inquire to become a part.
Read more about this network on NYIntl. net
|
|
By Milos Spiridonovic
My first negotiation took one week to close. The market opportunity: MLaaS( manual labor as a service). The client: parental units. The deal: $ 2 / week for dish washing. The underlying incentive: a Friday ritual that would involve a full sprint off of elementary school premises to get a slice of pizza for lunch. This took intensive planning( studying teacher habits, devising distractions) and relied heavily on timing, coordination, and performance. I found that by cleverly arranging similar types of dishes, I was able to increase my efficiency three-fold. However, the market moved. The soda / pizza combo skyrocketed to $ 2.50. I had to expand my offering. Release 2.0 included trash duty. This time, I would not be caught off guard by another economic shock and managed to re-negotiate $ 3 / week. Yes, I was EBITDA positive! Then, the world got bigger, and Jay-Z released Rocawear … I had to pivot. Things
|
Milos Spiridonovic |
were different now.
School / work / sport / social balancing amounted to increasingly complex responsibilities. Solving the enigma( who am I? what makes me unique?) grew in importance as I struggled to find a place in this world. Analyze, theorize, adopt, fail, adjust, repeat. The world kept getting bigger. Travel and experience demystified, yet
|
simultaneously complicated the“ big picture.” When the desire to solve all worldly problems faded, I learned to focus, prioritize, and became more effective.
My father’ s advice( ignored until I was about 24) proved invaluable.“ Focus on three things at a time. Otherwise, none will be done well.” I found myself adopting many of my parents’ habits— structure, patience, perseverance, purpose. To my relief, the world started to get simpler; the progress was clearer; identity was stable; value was explicable. We were now engaging in very interesting debates.
Old vs. new. I push them to new technologies, they pull me into history. They pensively experimented while I dubiously read into the past. Anyone with a family member on social media will attest— simply adopting the new, does not imply appropriate use. Their past experience( failures) delayed quick adoption— causing frustration in delivering benefits I assumed were basic. Learning to communicate in their style and understanding their thought pro-
|
cess helped— but is not short of patient and persistent effort.
This( true) story was intended to foreshadow the current state of affairs between startups and corporations. My advice to the startup is: maintain a visionary, ambitious, and challenging stance— but take the time to( truly) understand history and continue to develop your communication with corporations. My advice to the corporations: Waiting for“ winners” to emerge will be costly. Open communication will be fundamental in crossing the bridge between these worlds.
Milos Spiridonovic is a CFA at Deutsche Bank AG and Head of Startups @ Berlin.
“ NYC Innovation Tour” Lunch Session 10 / 12 @ 12:00 pm Deutsche Bank
|
|||
8 |