A startup is a company that has recently been created and is in the development stage. The crucial difference between startups and other small businesses is the ability to grow and develop without geographic references and restrictions. A small convenience store and a coffee shop are not designed for rapid growth. Actual startups can match the financial numbers of Volkswagen or Samsung in a few years, wherever they are. However, due to funding problems, startups are forced to look for investors and register on crowdfunding platforms that raise money for attractive ideas. Lack of certainty, predictability, and a well-defined business plan. Thanks to these qualities, startups, on the one hand, are more vulnerable than any other type of business. It also allows you to find effective iterations, quickly double-check the viability of a business model, and respond flexibly to market changes and consumer needs.
M.E.L. Science
Even though the company only operates in two cities—England and St. Petersburg—we chose to include it on this list because its concept is intriguing. M.E.L. Science sends out kits every month in which children must do experiments. This is a valuable and fun way to get kids interested in science and teach them something useful. The project also launched M.E.L. Chemistry V.R. Lessons, where children can watch chemical miracles happen using virtual reality.
BauBax Jacket
When it’s cold outdoors, and you despise bags and backpacks, this is one of the most incredible things you can bring with you. BauBax is a multi-functional jacket with everything organized for your comfort. There are warm coat pockets to keep your hands warm and a bag where you can put a drink can or something else. The jacket also has a separate pocket for a tablet or phone, a power bank, and other small things. And most importantly – at the same time, the jacket does not look like your personal stylist Wasserman.
Robot Vera
This other venture with a job posting, but this one is a little different. Vera the Robot is machine intelligence that can take the role of a human resources representative. Vera reviews applications on dozens of websites and can phone a possible candidate to inquire about the position. Vera currently works in the Russian market, with 250 significant corporations as clients, but she intends to operate globally.
B.M. Power
Energy is the modern gold in the world. B.M. Power develops unique energy systems that convert hydrogen into electricity in an environmentally friendly, quiet, and highly efficient way. Thus, it becomes possible to store five times more energy than the same batteries created for drones.
Wizards Unite
Niantic is making fan dreams come true once again. First, Pokémon G.O. took over the streets of the world in pursuit of Pikachu, and now Potter fans (that’s what Harry Potter fans are called) are rejoicing. Very soon, they plan to release a game where everyone can become a wizard, search for artifacts, and learn spells. From now on, the word muggle can be applied to anyone who does not download Harry Potter: Wizards Unite to their device.
Principles Of a Successful Startup
As a rule, a startup’s activity is associated with risk. Even with a brilliant and innovative business idea, there can be no certainty that it will be in demand.
Several factors affect the success of a startup:
- Idea. You cannot predict its success, but it must be distinguished by originality, originality, and practicality.
- Team. Interest, professionalism, and team cohesion are essential for a startup’s successful and competent development. Without such a team, bringing an idea to the market is impossible.
- Money. Before going in search of financing, it is essential to make the project attractive to investors.
- Time. Bill Gross, the owner of the world’s first business incubator Idealab, conducted a study of 200 companies launched on his platform. He found that the time factor has the most substantial influence on the success of a startup.
How To Choose an Idea for A Startup?
- Decide for yourself which activity brings you the most pleasure. Only an idea that captivates a person will bring business success. Often, a hobby tells you what you should do in life.
- Be interested in the latest inventions and innovations in various fields. Read about them on the Internet and use them in everyday life.
- Be an expert in a particular area and, even better – in several. In many places, you can become successful only with a certain amount of experience behind you. If a person is professionally trained in several niches at once, this significantly increases his chances of success.
- Improve what is already there. It is required to observe what people use daily and what causes them negative emotions – renting an apartment and receiving documents. Think about how you can help people make it more accessible and better.
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