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CASE STUDY DEVELOPMENT OF STARTUPS IN ICT SECTOR
Presentation · October 2018
DOI: 10.13140/RG.2.2.33220.27520
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Srdjan Atanasijevic
Technical College of Applied Studies Kragujevac
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CASE STUDY
DEVELOPMENT OF STARTUPS IN ICT SECTOR
Startup weekend, University of Kragujevac, Serbia
Srđan Atanasijević, Comtrade Digital Services
Content
- What is startup? Why do we need startup mentality in a mature company?
- How to organize startup, process.
- Case study - Voyego starup
- Summary
Why do we need startup mentality in a mature company?
Stay competitive
One of the most important things when it comes to making it in the startup ecosystem is the ability to stay
competitive. An entrepreneur must be ready to take risks, change, and adapt. He or she must not be afraid of
failure because it is inevitable [1, 2] .
Future success through fast failure approach
Failure is one of the most important factors when it comes to moving forward. Whoever keeps trying will keep
failing as well, but this is just the cycle of success [3, 4] . Eric Ries devised the lean startup method in 2008 for the
purpose of developing businesses and products. It can be applied to startups across all industries.
Be patient for growth and impatient for profit
Launch new-growth businesses regularly, when the core business is in healthy shape. When financial results
signal the need to do it, it is probably too late.
As an organization grows, continue to divide up business units so that each unit can launch new ventures and be
patient for growth, as they are small enough to benefit from small opportunities (disruptive innovations will start
out small) [2] .
Bottom line:
Minimize the use of profit from the core business to subsidize losses in the new-growth ventures. Be impatient
for profit and patient for growth. If a venture is profitable, it remains likely to continue even when the core
business is struggling [1,2] .
COMTRADE
APPROACH TO INNOVATION
INCUBATION INCUBATION
(startups)
ACCELARATION
PARTNERSHIP FOR
GLOBAL MARKET
ACCELARATION COMTRADE PARTNERSHIP
RESEARCH
&
INNOVATION
COMTRADE APPROACH:
IDENTIFY >> CONNECT >> SUPPORT >> F L Y
? So what ? Who Cares ? Why you
• Idea • Who is Customer • Competitive Edge
• Problem • Path-to-Market • Team
• Where Idea Fit • Where’s the Money • Your Story
Are they in "growth" stage
KEY QUESTIONS
IN ESTABLISHING
COOPERATION Are they going after large addressable market
WITH
COMPANIES
IN THE REGION Does that market exist in Europe or US
[1], [2].
Do they generate revenue
What kind of "run rate" do they have
Have they received initial funding
Track record of management team
Do they have solid business model
KEY ELEMENTS OF COOPERATION WITH
COMPANIES IN THE REGION
100+ POTENTIAL SMALL AND MIDDLE ADRIATIC COMPANIES IDENTIFIED
PARTNER OR NDA AGREEMENTS WITH 20+ STARTUPS, AND SME IN REGION
ESTABLISHMENT OF COLLABORATIVE WORKSPACES:
MENTORING AND COACHING THROUGH ICT CLUSTER, EDIT AND OTHER PROGRAMS
COLLABORATION AMONG SMES AND TEAMS OF RESEARCHERS TO ADDRESS
IDENTIFIED RDI NEEDS – H2020 PROJECTS
COMTRADE AS HUB
FOR REGIONAL KNOWLEDGE
AND CHANNEL FOR PRODUCTS AND R&D SERVICES
TOWARD GLOBAL MARKET
!
LEAN STARTUP APPROACH
A startup is a temporary organization
designed to search for a repeatable and scalable business model
(under extreme uncertainty) [3]. .
Succeed or Fail >> FAST [4], [5].
MVP: minimum viable product
"version of a new product which allows a team to collect the
maximum amount of validated learning about customers with the
least effort.“
B-M-L: Build-Measure-Learn loop
a core component of Lean Startup methodology is the build-measure-
learn feedback loop
Pivot:
“structured course correction designed to test a new fundamental
hypothesis about the product, strategy, and engine of growth.”
SOFTWARE APPLICATION SUITE
FOR HOSPITALITY PROVIDERS
www.voyego.net
DISCOVER HOW CAN
VOYEGO INCREASE YOUR
REVENUE STREAM
&
HELP YOU DELIVER AN
EXCELLENT CUSTOMER
EXPERIENCE
VOYEGO
EVENTS
Is an event app that delivers a more
enjoyable experience for guests
attending professional or personal
events at your premises. It lets attendees
manage their event attendance from the
palm of their hand.
VOYEGO EVENTS
ENABLES YOU TO:
• Deliver entire event management
to attendees’ mobile device
• Attract more event organizers who
are searching for venues that offer
attendees a unique experience
• Drive sponsorship
UNIQUE TO
VOYEGO
EVENTS
Offering a “whole package”
to event organizers helps you
differentiate your property’s
venue and services from the
competition
VOYEGO EVENTS FEATURES
WITH VOYEGO YOU WILL:
GAIN ADDITIONAL CROSS SELL AND OPTIMIZE YOUR
SALES, MARKETING UPSELL ADDITIONAL COSTS AND IMPROVE
AND OPERATIONAL SERVICES OPERATIONAL
CHANNELS PERFORMANCE
ENTREPRENEURSHIP
IS MANAGEMENT
Source: http://startitup.co/guides/294/becoming-a-lean-startup-guru
Summary
Context: A startup is a newly emerged business venture that aims to develop a viable business model to meet a
marketplace need or problem. Founders design startups to effectively develop and validate a scalable business
model.
Objective: In this presentation, we review practices, challenges, and success factors for implementing a
successful startup inside a mature organization - Comtrade Digital Services.
Method: We conduct a focused review of well-accepted practices based on the Lean Startup approach. Lean
startup is a popular set of principles to create and design startups under limited resources and tremendous
uncertainty to build their ventures more flexible and at a lower cost. It is based on the idea that entrepreneurs
can make their implicit assumptions about how their venture works explicitly and empirically test them.
Results: Company culture, management support, and value unification were found to be key success factors for
startup. Resistance to change, an overly aggressive roll‐out time frame, quality assurance concerns, and
integration into no agile business processes could be overcome by Lean startup approach based on the
paradigm - find a problem worth solving, then define a solution.
Conclusion: Case study shows that successful approach to building startup inside the mature organization, should
be based on the following process steps: engage early adopters for market validation, continually test with
smaller, faster iterations, build a function, measure customer response, and verify/refute the idea , evidence-
based decisions on when to "pivot" by changing your plan's course, maximize the efforts for speed, learning, and
focus.
REFERENCES
[1] Atanasijevic, Srdjan. (2016). Innovative models of digital transformation of business-
Leader's experience. 10.13140/RG.2.2.20398.82248.
[2] Christensen, C. (2013). The innovator's dilemma: when new technologies cause great
firms to fail. Harvard Business Review Press.
[3] Atanasijevic, Srdjan. (2018). Approach to project management in dynamic reality -
Differences between traditional and agile approach. 10.13140/RG.2.2.10519.27047.
[4] Reis, E. (2011). The lean startup. New York: Crown Business.
[5] Dragicevic, Dragan & Milosavljevic, Aleksandar & Atanasijevic, Srdjan. (2013).
Combination of traditional and Agile project management methodologies on software
project of health information system in Ministry of Defence of republic of Serbia.
THANK YOU!
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