I have been organizing startup programs and even bootcamps for 20+ years. It was almost a new experience to be a participant in EIT Ultimate Bootcamp in Tartu 7.-8.7.2017. It was worthwhile to change the perspective, here I tell why.
First of all, I want to thank the organizers of the Bootcamp in EIT Health, EIT Raw Materials and University of Tartu. It is always a demanding task to herd individualist startups from different countries. Here is more information: https://www.eithealth.eu/-/cross-kic-eit-ris-business-planning-bootcamp-in-tartu-estonia-successfully-completed
#1 What You bring, You will get
I was there testing Chainfrog pitch for Health ”Asset management in hospitals with RFID and blockchains”. As said I am quite familiar with business development and the tools what were used in bootcamp, like business model canvas, business plan, calculations, PESTEL and such. That was a problem at start. Why? I was bringing my prejudices which slowed my learning from facilitators and others.
#2 Leave Your prejudices behind
If I had listened better and more deeply, I could have learned those details I still am struggling in business model development (like how to really handle cash flow and working capital or pricing). Also, talking with others is much easier when you are open to new ideas and people are not afraid to give their honest feedback. It is easy to be in your ”great technology startup bubble” until someone says they don’t understand at all what you are selling.
#3 Learn from others, let others learn from you
The best part of any bootcamp or startup program is usually other participants and it was true also in Tartu. There were such passionate individuals with innovative ideas. I want specially to mention our Estonian and Polish colleagues, wonderful stories and passion! Also, getting feedback from colleagues made me understand that Chainfrog technology pitch was badly formulated. We actually made a pivot after Tartu and London Fintech week and changed ”what is blockchain” talk to bottom and started with ”what is customer pain points”. Seems obvious but without deep learning and feedback customer-orientation might just be a phrase in your slide set.
#4 It is a big World there
I already mentioned we in Chainfrog visited Tartu (Estonia) and London and Cambridge (UK) on July. It gives perspective hearing what others are doing from different countries and stages. Being only in Tampere or Finland means nothing if your target is to be market leader in your selected product category. That is what Chainfrog wants and meeting people from all continents is a check towards our goal.
We pivoted and changed, it should be the main goal of any bootcamp or international activity!
All the best in learning from others and giving what you can to others.
Business Dev in Chainfrog Oy
Owner at Kimmo Rouhiainen Consulting
”20 Years with Startups and still learning to fail”