The post Digital Touchpoint Strategies to Reach Baby Boomers Through Gen Z first appeared on VentureOut.
]]>Many consumers are probably familiar with the term first-party data, but have no idea what it means. While not a new concept by any means, first-party data, which refers to the information a company collects directly from customers, has taken on new meaning in the Digital Age.
In fact, thanks to modern digital touchpoint strategies, businesses can now make the most of today’s Digital Age to expand their reach across generations. Such strategies recognize the significant differences in how different age groups engage with companies. For instance, 66% of Gen Z shoppers are more likely to shop both online and in-store, as compared to only 37% of Baby Boomers.
Taking advantage of key digital touchpoints like this is crucial for your business to succeed. Here are a few strategies you might find worthwhile.
The majority of modern businesses understand that social media helps engage consumers. However, many tend to use social media somewhat lazily, putting out basic updates and leaving it at that. Instead, it’s more helpful to use social media as a touchpoint for customer acquisition and retention.
This process is just one aspect of an insights-driven marketing approach, which involves the collection and analysis of data through a variety of means. Interestingly, if the approach involves using social media as a touchpoint, it works in both directions.
On the one hand, social media interactions can assist in the gathering of data relating to demographics, social profiles, behavior, interests, and direct feedback. However, it can go even further by acting as an invaluable tool for modern marketers to capitalize on data insights.
Consequently, research indicates that social media is one of the most effective avenues on which to deliver an “excellent customer experience”. Such experiences can result in up to a 16% premium on products and services, as well as increased customer loyalty. Similarly, personalized marketing pitches can boost sales by 15-20%.
As an added bonus, different social media networks can help a business target different types of consumers. For instance, Facebook usually engages older audiences, while TikTok engages a much younger demographic. As a result, diversifying your use of social media platforms makes for a fairly thorough social approach.
For businesses with a brick-and-mortar presence, in-store beacons are now a must. Since so much focus these days is on internet-based opportunities, they fly under the radar — even among marketing professionals. Despite this, you should still consider adding them to your arsenal. Though it seems like online sales now generate the bulk of business, the in-store experience remains more important to Americans than we tend to give it credit for.
The tiny “beacon,” a device inconceivable some 10 years ago, emerged thanks to significant technological advances. Printed circuit boards (PCBs) have become smaller and more compact, making them more capable of powering tiny devices with full wireless capability. New design technologies now enable a variety of PCB structures that are created using embedded board arrays, which ensures that PCB components never overlap no matter how complex the layout is. This innovation has allowed manufacturers to build high-density and flexible products into very small devices.
Today, beacons can be placed in stores, and though tiny and inexpensive, their wireless capability enables them to interact with customers’ mobile phones. As such, they serve as digital touchpoints within a physical space and have been helping business owners and marketing professionals across NYC capitalize on in-store activity.
A beacon makes it easy for a store to reach out to customers, and gather data on their shopping preferences. This includes information on where customers browse, what they’re looking for, and how responsive they are to assistance, outreach, or special deals — all of which can be as valuable in strategy formation as insights gathered online.
As marketing leaders are well aware, today’s online marketplaces come in many forms. And though many businesses have their own eCommerce website, countless others list their products on third-party platforms.
These include Facebook Marketplace, Amazon Marketplace, Craigslist, Etsy, eBay, and more. Different platforms cater to different kinds of businesses, but collectively, they can provide more opportunities to generate revenue.
Equally important is that they also serve as additional digital touchpoints. Every customer that interacts with your business on any one of these marketplaces is inevitably supplying data about their browsing preferences. The key point, however, is to use third-party platforms solely for data collection, and not just for generating sales.
Some of these third-party marketplaces are likely to span generations. Older internet users may be most familiar with eBay and Craigslist, whereas social commerce listings and those on Amazon will attract younger consumers.
Additionally, it’s worth noting that consumers prefer to use social commerce — and in some cases, they even supply more data here than they might on a typical online retail platform.
You should also make an effort to encourage and welcome product and service reviews wherever possible, and to ask consumers to voluntarily provide specific information. You may think that this will open your business up to criticism. However, consumers will appreciate such transparent methods of data collection.
In fact, statistics show that consumers are largely unaware of the data that they’re sharing in their day-to-day web activity. However, they are generally aware that they’re “under surveillance,” a fact that most are uncomfortable with.
Accordingly, seeking reviews and comments and directly asking for information can make a company seem more trustworthy and reliable. In addition to being good for your reputation, this can in some cases lead to more consumer engagement and data gathering. This data can be helpful in a number of ways, while also being one of your more low-tech efforts.
This is why it might be a good idea to consider investing in hiring data analysts or even upskilling your existing staff to meet this need. After all, we’re currently living in the age of Big Data, with trillions of bytes being created each year. As such, demand for data analysts is skyrocketing, and having one on your team will serve you well in the long run.
Additionally, you should try networking with other businesses to exchange tips on how to act upon insights gained from customer reviews. In fact, this program offered here at VentureOut highlights how much you can learn from giants in the consumer insights industry. It also emphasizes how one-on-one mentorship sessions can give your business a much-needed head start on making cutting-edge, data-driven strategies.
Ultimately, most of these strategies are now at least loosely part of the mainstream marketing and data-gathering repertoire that modern businesses employ. Thinking of them as digital touchpoints for specific types of data can help a business use these methods even more effectively, especially when reaching out to a less tech-savvy customer base.
Article written by Riley Judd
Exclusively for ventureoutny.com
The post Digital Touchpoint Strategies to Reach Baby Boomers Through Gen Z first appeared on VentureOut.
]]>The post VentureOut 2020 Cyber Alum Secfense Scores a Big One with BNP Paribas Bank Polska first appeared on VentureOut.
]]>The cooperation between BNP Paribas Bank Polska and Secfense focuses mainly on developing a modern MFA solution. Especially during the pandemic, multi-factor authentication
(also known as strong or two-factor authentication) has become one of the best ways to limit the risks of phishing and credential theft. Strong authentication ensures equally high-security levels for both users requesting access from home and at the office.
According to a recent Gartner study, companies that introduce remote work quickly and without MFA in 2021 will experience five times more account takeover incidents than those that use MFA. (Gartner, Enhance Remote Access Security with Multi-factor Authentication and Access Management, May 2020)
Until recently, a large-scale MFA adoption has been a difficult undertaking since it necessitated changing the codes of existing applications. User Access Security Broker, a new technology developed by Secfense, solves this issue. Its main features are scalability and flexibility, which allow for MFA deployment on any number of applications and freedom to choose any authentication method that is best suited to the way the applications are used.
Cybersecurity experts at BNP Paribas Bank Polska appreciate the User Access Security Broker developed by Secfense. Our Cybersecurity team will work together with Secfense to further improve this solution.
Krzysztof Slotwinski, Business Comtinuity and Computer Security Officer at BNP Paribas Bank Polska
“We are faced with new challenges every day. We must always be one step ahead of the attackers and know what they are going to do before they do it. We are convinced that User Access Security Broker will bring security to a new level, both for those working at the office and from home. For us, working with Secfense is an opportunity to exchange experience with
developers who put great value on out-of-the-box thinking.”
Tomasz Kowalski, CEO at Secfense
“We are delighted by the opportunity to tap into the experience of the Cybersecurity Team at BNP Paribas Bank Polska. Their insight into real-life problems, which User Access Security Broker needs to face, is invaluable. Together, we put a lot of work to improve the quality of the product even more and provide the best cybersecurity solutions for our clients.”
Check Secfense out at https://secfense.com/ to learn more about their product
The post VentureOut 2020 Cyber Alum Secfense Scores a Big One with BNP Paribas Bank Polska first appeared on VentureOut.
]]>The post How the Retail Sector Has Changed in Response to COVID-19 first appeared on VentureOut.
]]>
To prevent the virus from spreading, most brick-and-mortar stores had to temporarily close their doors. For this reason, consumers are now turning to e-commerce, which ensures safe and touch-free transactions. E-commerce has been steadily growing in recent years, but the pandemic further boosted the demand for online purchasing. This pushed brands to ramp up their virtual capabilities and make sure that their products and services remained accessible. True enough, Americans spent $791.7 billion online last year. To keep this momentum going, retail businesses must continue building on their e-commerce capabilities — whether through expanding their social media presence or optimizing their online retail operations.
Due to the increase of businesses in today’s cyberspace, criminals have also evolved to target online companies — particularly those without solid cybersecurity practices in place. This is especially troubling, considering how attacks like data breaches and digital fraud can cripple businesses. In fact, an IBM report notes that the average quantifiable cost of a data breach is $8.19 million in the United States — which is more than enough to put small retailers out of business.
To avoid being vulnerable to hackers and other cybercriminals, retail companies now have to invest in improving their cybersecurity. For instance, retailers are looking to cybersecurity professionals to bolster and protect their digital platforms. However, there remains a huge gap in the cybersecurity industry — with more than 3 million unfulfilled job openings worldwide. Recognizing this dire need, academic institutions have started offering online cybersecurity degrees to encourage more students to join the sector. Through these programs, students learn the fundamentals of digital forensics, programming, and cyber law-making them more than capable to boost a retail company’s security competence and fend off cyber attackers with malicious intent. Businesses of all sizes should be actively tapping into these professionals to strengthen their cyber protection.
As we said, customer expectations have shifted to convenience and accessibility. Because of this, retailers are spending more money in making sure their inventory is efficient, effective, and specific. Before the pandemic, most retailers used to spread inventory evenly across their sites. Now, data-based approaches have become the norm. Retail merchandising optimization allows retailers to better understand the items that they need to stock, as well as determine how they should be priced to take advantage of sales, margin, and customer satisfaction.
Data science graduates are the key professionals in this process. They provide useful insights about a retailer’s inventory capabilities and create algorithms that can maximize a retailer’s merchandising performance. All in all, having such a strategy significantly increases precision when it comes to pricing and promotions, planning assortments, and inventory investments.
The retail sector as we know it has indeed changed since the start of the pandemic. While some companies had to take more drastic measures than others, everyone has been affected in some way or another — whether you’re a multi-national corporation or a small business. We can expect these changes to continue to impact retail and shape its future – even long after the pandemic subsides.
Article written by Riley Judd
Exclusively for ventureoutny.com
The post How the Retail Sector Has Changed in Response to COVID-19 first appeared on VentureOut.
]]>The post Championing a Pandemic: An Interview with Roman Mastalir, Founder of Eventee first appeared on VentureOut.
]]>Meet Roman Mastalir, 2018 VentureOut Czech Accelerator Alumnus. A man after innovation and team leadership, Roman and his brilliant team did what most people thought would be impossible – they managed to grow their event and networking platform during a global pandemic. Even under these disastrous circumstances when the whole world shut down, VentureOut Alumni Eventee successfully pivoted their platform to meet the ever-changing needs of the 2020 consumer.
“Did we plan higher growth in 2020? Definitely. Was I afraid we are going to go bankrupt? You bet.”
Roman Mastalir
Eventee provides easy-to-use event management tools with an awesome mobile event app for event organizers and attendees. Although 2020 was a challenging year for Eventee, I have excerpted this organic growth chart which manifests insights on how Eventee managed to grow even when the Economy is gloomed by COVID.
We are excited to bring back our VentureOut alumni Roman Mastalir, the founder of Eventee, and talk to him about his journey with Eventee and how he brought his company from the Czech Republic to the spotlight of the world NYC. Read below for his journey of founding Eventee all the way to keeping his team together during uncertain times.
Interview with Roman Mastalir
Q: Is there an incident or an event that sparks your interest in creating Eventee and becoming a founder?
A: In 2015, as a PR stand, we happened to be invited to create an application for a giant annual tech event in our city. The biggest problem of this event is the fact that it is held by a non-profit organization, and therefore it is free. Every year, it could not avoid having unpaid speakers who were not prepared and canceled the presentation the night before. Besides, the agenda was written on a piece of paper where it got crossed out and rewritten again. So it was a mess. With that being said, we came across an idea “hey, how about let’s try to create an application for them?” It is a tech summit, so we wanted to offer a good portrait of the tech community in our city and essentially ourselves as a digital agency. Plus, we could promote our core business. Eventually, it went incredibly well and people from all over the country reached out to express interest in trying our application. The application received great feedback, so we quickly realized we were up to something amazing and maybe there is a market for it.
Q: You filled the void of the potential event planning market. What were the steps you took when you became more serious about Eventee?
A: We continued with the development as a sidekick, because our primary focus was still a digital agency. In 2018, we made the trip to New York, specifically to VentureOut, as we realized the potential of Eventee and thought we need some help to materialize and mature our business idea to push it forward globally.
Q: How did VentureOut help in the process of maturing Enventee?
A: Our main goal to come to VentureOut was to understand how to operate in the US and comprehend our business from an expert view. We think we definitely succeeded in this objective from my point of view. The mentors assigned to our project gave us a lot of valuable insights and we received a lot of help from PR to marketing to educate us on how to make direct sales in the US. After that, we came to an end with our digital agency and decided to only focus on Eventee in 2019. We expected the revenue to drop because of the closure of our digital agency, but to our surprise,, the revenue generated by Eventee from 2018 grew 100%. However, COVID kind of changes everything for us.
Q: Can you elaborate on how Eventee adjusted to the new virtual world?
A: First, I want to give a big shoutout to my team at Eventee. It only took our brilliant engineers and incredible team members a few weeks to release the basic version of the virtual meeting feature, so we didn’t lose our current customers to Zoom. Besides, we made a few more strategic adjustments. We pushed for lifetime access to our application, which was a huge uplift in revenue to counter COVID. Meanwhile, it is a confidence boost for the team itself that we have people who put their bets in us and believe we can survive this global crisis. To this date, we are still fixing and improving our virtual event feature based on customers’ feedback. To us, it is quite challenging. Even though we have a great engineering team here, it is quite a brand new territory for Eventee.
Q: What is the biggest challenge in implementing your new adjustments?
A: I believe we have the best networking platform for in-person networking events. In many networking events, you are alone there. You don’t know anyone, but you would like to meet with the proper people, right? You would like to network. But my experience from New York is that there is a mismatch between people I want to meet and people who I met. For example, I met YouTubers, wedding video editors, and some other amazing people who don’t share the passion. In my opinion, it is a waste of time for both parties. Therefore, we developed our unique networking feature inspired by Tinder. After you fill out your basics, it works like Tinder that you can see the pool of your potential matches who register for the event you attend and you need to “match” with the person you want to network with. This works great for in-person events, but for virtual events, it is a different story and we are still figuring it out haha.
Q: When reading your personal website and I saw talked about being in a founder space versus going to corporate space, “you have all your friends buying cars and houses and you’re sitting there like I am in debt, I’m investing all this money. I’m so in love with this idea, but I don’t have what they have”. What would you say was your biggest inspiration that kept you going?
A: Good question and very difficult and complex to answer. I think the main reason for me was that I really love the product and it’s something good that we discover in our journey at Eventee. We put all our hearts into the project and I wasn’t just ready to let go. So I did everything to keep the project and team together because I believe that it will be eventually successful.
We didn’t find a specific niche and we have serious competitions that have been doing this for a very long time. However, I believe that we don’t need to cover everything. We just need to be better. It’s not that difficult. We have fresh eyes and it’s easier to come on the market with something new and fresh than trying to rebuild something you have for 20 years.
Q: As a founder, you’re convicted in your idea and belief that this will make it. Sometimes there’s like that dynamic within the team that they might not share that same conviction about your idea. How did you filter out the people that you trust fully to go on this journey with you? And how did you keep the team connected to the project and keep the trust and belief when things weren’t necessarily looking so good especially during COVID?
A: I would keep those people who are most interested in the product. I can see that they are still willing to give everything to the project, even though there are great other opportunities in other companies and so on. There was not a hard line between all the other team members and those we kept, it was just probably organic and natural. I would say it was a natural and mutual process. And about the dynamic within the team you mentioned, I learned that I’m still part of the team. It’s not my idea against their idea. We are one team, so we need to discuss this together.
Q: How would you say VentureOut contributed to the success of the Eventee, and what was something you felt was missing from the experience?
A: The only thing I feel we were missing out on was that we came to VentureOut too early. At that time Eventee was nothing but a relatively immature product. We did not have a proper marketing plan or a pricing model. It was just too early to succeed in New York back then. But if we weren’t there, I’m afraid that we wouldn’t be at the same place where we are right now.
In the three months at VentureOut, the push for the product got really hard, because we were kind of unprepared in a sense. But it was a super rewarding experience for us and VentureOut helped Eventee grow tremendously. In the beginning, Eventee has nothing but a product, so our mentor, Monica Stewart, helped us to get our first US customer. And other mentors help us with marketing, business development, and so on. So we went from zero to one, but now we would be able to get from one to 10 if you know what I mean.
To sum it all in one sentence how VentureOut shaped my experience and helped to grow our business, I have a masters’ degree in Business Management and I learned more about business in those three months than during my studies. My education was super theoretical, but at VentureOut, it was super practical and I experienced much more in those three months than in five years at the school.
Interested in Eventee and want to read more about them?
Find out more about Eventee and its journey from https://eventee.co/
The post Championing a Pandemic: An Interview with Roman Mastalir, Founder of Eventee first appeared on VentureOut.
]]>The post Cybersecurity: the Must-Know Stats on Data Breaches first appeared on VentureOut.
]]>These days, we’re pretty comfortable online, but in actuality, we’re not nearly as safe as we think. Personal hacks and corporate data breaches are too common for comfort. When I was young, I received a yellow polka-dot journal with a lock on the front. As a child, I was confident that my deepest and darkest secrets were secure behind this superficial barrier. In reality, anybody with the desire to open that book could easily breach the cover. While we would like to think our information is secure online, the reality is not much different than my yellow journal. It only takes one motivated person to steal your information and put your business in jeopardy.
Every forty seconds, a cyber-attack occurs. Through phishing, vishing, malware, social engineering, and more, hackers are battering the bulwark of every company you could imagine. Sometimes, these attacks succeed. The Yahoo! breach in 2013 resulted in three billion compromised accounts, out of pocket costs of $120 million, and a $350 million cut to an active purchasing offer four years later. This, of course, this is a drastic example; it is the largest data breach to date. But just because a company is small does not mean a breach is not costly.
According to a report from IBM security, the average quantifiable cost of a data breach is $8.19 million in the United States or $3.29 million globally. Most importantly, this cost is primarily driven up by the loss of business. Consumers are cautious following a data breach leading them to shop with security in mind. In terms of numbers, the same report IBM found that lost business amounts to 36% of financial loss.
Is this really a widespread problem, or it just an issue for monoliths such as Yahoo! or Target? This problem is very real, and very present. The Identity Theft Resource Center reported 1,473 successful breaches in the United States. Or, nearly thirty breaches a week. Further, the likelihood of experiencing a breach is increasing over time. The IBM report found that companies were nearly one third more likely to have a breach in 2019 than they were in 2014.
Obviously the ideal is to avoid a breach altogether, but this is easier said than done. It comes down to two key factors: vigilance and people. Hacking strategies, tools, and techniques are constantly evolving, and while there are cyber-security rules of thumb, a business’s security is dependent on continued learning. A safe company is one that stays current with ever-evolving dangers. Even if a company is cyber-security savvy, however, it means very little if its employees are out of the loop. Your people are your final line of defense, so it is vital that employees are able to identify red flags.
Regardless of the size of your company, cybersecurity needs to be a priority. Get ahead of a potential disaster and take the time to protect yourself and your business. It doesn’t take cost much to learn about new risks and implement companywide security standards. So, stay educated and stay savvy—simple steps save millions.
Coauthored by Betsy Kooistra
The post Cybersecurity: the Must-Know Stats on Data Breaches first appeared on VentureOut.
]]>The post Urban Cities Redesigned: How Covid-19's Impact Will Change the Way We Live first appeared on VentureOut.
]]>The situation in New York City leading up to COVID-19 was crammed. Every morning rush on the subway came with a complimentary fellow commuters elbow puncturing your lung and negative space to hold onto to support yourself when the train took an unexpected jerk left or right. Restaurants and bars expected you to be 2 inches wide in order to slip in between tables to sit down. It’s easy to assume that the concept of personal space was thrown out the window when planning big cities. Now that social distancing has been employed and standing 6 feet apart became standard, these formally cramped lifestyles will have to be rethought. The three major results of COVID-19 on urbanization that will be safer, cleaner, and more sustainable cities.
The first change we’ll most likely see is safer streets for commuters. The people will take back the streets. Mind-numbing traffic will inevitably diminish as it will be more commonplace to work from home and hang out at home. Public Transit will be reimagined and more reliable allowing people to travel safely without being overcrowded. The previous way of public transit was inefficient, unsanitary, and tended to make you leave with a bad taste in your mouth, sometimes literally. Forbes agrees, in a recent article about public transit they stated:
“It’s not pleasant, convenient or quick unless it gets its own dedicated tracks and lanes, and shocking to most, in almost all cities it’s not even energy efficient”
Brad Templeton, Forbes
There have been murmurs that our cities won’t come back the same after the pandemic. People are scared that the once vibrant New York will get taken over by fear and loss: loss of human lives, loss of jobs, loss of opportunities, loss of ambition. None of these fears come unfounded. People have been stuck in their homes for months taking in headlines after headlines contributing to this theory. However, if we look at the history of pandemics, we’ll see that pandemics actually contributed to a positive evolution of the way we live.
“The Spanish Flu of 1918 killed as many as 50 million people worldwide, and yet New York, London, and Paris all boomed in its wake.”
Richard Flordia, Author of The Rise of the Creative Class and The New Urban Crisis
The fears that citizens face will allow urban designers to rethink our current lifestyle to accommodate our needs and provide even better-living conditions. The biggest question on everyone’s minds after the pandemic is density management within the city. The world can resume but until we unlock how to live without living on top of each other, we risk reliving another unsettling pandemic. Urban planners will have to seriously consider decentralizing cities and supplying sufficient transit to allow people to effectively maneuver across a more spread out city.
“Rethinking density management is a key for long-term survival in a pandemic world, really.”
Michele Acuto, City Lab
Cosmopolitan areas like NYC are known for their enticing bustling atmosphere. The push for decentralizing cities could diminish the high energy feeling present in the streets.
What about the fun pasttimes? Don’t worry, you won’t have to give up your favorite outings out of fear. Sporting events, movie theatres, concerts will take, or should take, precautions to ensure their patron’s health is considered. Richard Flordia and Steven Pedigo, trusted professors in the public affairs discipline predict that:
“Audience sizes may need to be reduced in theaters, with seats left open. Masks may need to be required and made available to patrons as needed, and temperature checks carried out.”
Our cities will adapt in ways necessary to support their citizens after COVID-19. We’ll adjust how we go out in public so that we can still enjoy our favorite pasttimes without being taken over by fear.
When the new normal settles in, sanitary habits will become cool again. Even though we should have been doing it anyways, washing your hands before eating, sanitizing your apartment, and wiping down public spaces will become a subconscious habit. The medical forecast predicts that wearing masks and social distancing habits will linger after life returns to ‘normal’.
We have two words: Smart Cities. Smart Cities are the answer that we’ve all been waiting for and overlooking until now. The sheer sustainability, efficiency, ability to improve a person’s quality of life will be greatly embraced and sought after in the coming years. But, what exactly does a smart city entail? Think about it this way, our tired infrastructure is going to get a brand new facelift. A facelift that includes: universal wifi, smart energy systems, smart buildings, sustainable housing, and more. You can read a more comprehensive list here.
Pandemics are not new, in fact they are very prevalent in our history. However, despite the havoc they reek, cities often come out stronger. Covid-19’s Urban innovation that will catalyze the evolution of how we live in cities. Our founder and CEO Brian Frumberg said, “The Urban experience has always affected us, but until recently the only people that truly cared were urban enthusiasts. Now that COVID has made people realize the important role the urban landscape plays in their lives, everyone has become invested. So, I’m excited to see the future of cities holds.” As Smart City technology continues to be implemented, our urban experience will radically improve with lifestyle and health.
The post Urban Cities Redesigned: How Covid-19's Impact Will Change the Way We Live first appeared on VentureOut.
]]>The post RECAP: Finnish Virtual Program with Business Finland, April 2020 first appeared on VentureOut.
]]>Four startups from Finland had the chance to come together virtually, learning how to launch and raise capital in the US, all while getting connected with some of the top tech influencers and investors in NYC along the way!
For years Finland has been a leader of Europe’s tech industry and the world with top notable companies like Google, GE Healthcare, and Rolls-Royce has built hubs in Finland.
VentureOut is proud to have had the opportunity to organize multiple Finnishtech programs in partnership with Business Finland.
Our one-week virtual private conference was an opportunity for the most promising Finland companies selected to become immersed in the tech community of New York, meeting virtually with leading startups, corporations, and venture investors.
VentureOut’s mission is to empower entrepreneurs with the education, resources, and connections needed to successfully raise capital and grow their business leveraging on all the opportunities NYC has to offer, and our 2-Day programs are designed to do just that.
Education and mentoring are the backbones of any VentureOut program. By partnering with thought leaders in key areas, we give our startups an unfair advantage by arming them with best practices used to scale the most successful companies in Silicon Valley. During this program, our four awesome startups connected with Bonny Morlak, Founder and CEO of Tiltsta, and Emmanuel Debuyck, founder and CEO of AdWanted, both dominating companies in their space!
We gave our startups an opportunity to chat one on one with Paul Wigdor from Tribeca Early Stage Partners, and Lylan Masterman from White Star Capital, to get coveted insights on how to raise capital in the US.
Scaling a startup means dealing with accounting, legal, and sometimes even immigration challenges. Our startups got to hear from our partner lawyers, who run some of the most active venture tech practices in NYC.
Our first virtual Healthtech demo day event featured a panel of seasoned venture investors focused on innovations in the sector.
As each founder pitched to investors, tech enthusiasts around the world were invited join, giving startups an incredible opportunity to network with over 100 industry experts.
See below for a snapshot of our event and our speakers!
Want to learn more? Click here to discover the Live Tweet of the program
You are a Healthtech startup and want to join our next edition? Click here to connect with us
Want to know more about VentureOut? Click here to see our programs
They make our program possible and are an incredible resource to all our startups, we couldn’t be more thankful.
Coauthored by Ahyoung Cho
The post RECAP: Finnish Virtual Program with Business Finland, April 2020 first appeared on VentureOut.
]]>The post The Solutions Available for Small Businesses during the Pandemic first appeared on VentureOut.
]]>As the COVID-19 epidemic and its response continue to hinder normal economic activity, many employers are faced with difficult decisions about maintaining operations.
These are times when you want to have a Law partner you can count on. Our partner & sponsor McCarter & English is here to help. Below are 3 articles they just published about the loan programs currently offered by the Small and Medium Business Administration (SBA), provided in the CARES Act.
This article gives a general overview of what the the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) is about:
This article details the following programs and options Small Businesses can benefit from:
The most important SBA loan program currently offered by the Small and Medium Business Administration (SBA). SBA 7(a) loans offer loans up to $5 million, partially guaranteed by SBA. The program is managed directly by banks and other financial institutions, and businesses apply for direct loans with participating banks.
The SBA operates a Disaster Loan Program that provides loans of up to $2 million to eligible small businesses. The article details eligibility criteria.
Another source of funding that businesses should consider are direct loans from Small Business Investment Companies (SBIC”). An SBIC can be more flexible than a bank that is providing an SBA Section 7(a) loan
This article addresses a portion of the CARES Act whose key provisions are intended to provide small businesses with accelerated access to desperately needed liquidity during these unprecedented times. This part of the CARES Act is aptly named the “Keeping American Workers Paid and Employed Act.”
The article details the following programs, and explains what are the steps that you should take now as a Small Business.
The $350 billion payroll protection program (“PPP”) expands the US Small Business Administration (“SBA”) Guarantee Section 7(a) Loan Program for Qualified Small Business (detailed here). Under the PPP, eligible small businesses can borrow up to $10 million from participating banks and other financial institutions by June 30, 2020. Conditions and how to apply for a PP loan are detailed in the article.
A PPP borrower may have the principal amount of the loan be forgiven. Details and explanations are provided.
Section 1110 of the CARES Act expands the SBA’s 7(b)(2) EIDL Program by making $10 billion available for emergency loans (“Emergency EIDL Loans”). Conditions for availability and process are detailed.
Pursuant to Section 1112 of the CARES Act, the SBA is required to pay all loan payments, including principal, interest and fees, on numerous SBA Loans. Details and conditions are provided.
Coauthored by Ahyoung Cho
The post The Solutions Available for Small Businesses during the Pandemic first appeared on VentureOut.
]]>The post Changing the Narrative: VentureOut's Women in Tech first appeared on VentureOut.
]]>Soumountha Keophilavong’s story is one that should be heard directly from her. Her background as a refuge, academic, and an economic immigrant, led her to fashion. Yes, fashion. Because Soumountha realized that “size 4,5,6” means nothing. No one is a perfect size 6. In reality, we’re all different sizes and we deserve clothes that are tailored to accentuate our beauty. But she didn’t stop there. The fashion industry produces a lot of waste. Fast fashion has led to faster pollution. Soumountha said “no more!”. With her upcycling initiative, Soumountha is reinventing a retired closet into a fashionable wardrobe without waste. And, there’s so much more.
Did you miss out on Soumountha’s story? Watch it here!
Check out Another Garde here: https://anothergarde.com/
Eva Sadej said she knew she wanted to innovate in the healthtech space but, little did she know how much impact she’d have. A Forbes under 30 under 30 star, Eva rightfully leads as a woman in tech. It’s not easy being a founder, especially when you don’t come from a family of entrepreneurs. Through strategic thinking, Eva found a way to use borrowed credibility to revolutionize dentistry. Floss Bar makes dentistry available to those that just can’t find the time to book a dentist appointment off sight. By watching a fellow friend build out a business she realized that even though while working a demanding job and starting a business is hard, it wasn’t impossible. And, alas, she got straight to work on what we know today as Floss Bar. Truly inspiring.
Listen to what Eva had to say about founding Floss Bar here!
Check out Floss Bar: https://www.flossbar.com/
Jibs is a sneaker shoe produced in Brazil but has an international impact. Founder Natalie Kathleen truly understands how to have an influence. Her secret power? The power of hello has led her to growing a huge network. Her philosophy of commonalities and spreading positivity has lead her to team up with brilliant minds to grow her business. But, positivity and brilliance isn’t everything, Natalie embraces harmony over balance. As a startup founder, she’s had to learn a million lessons, but the most important was embracing the concept of “a new day”. Everyday is a new challenge, you’ll make mistakes that may get you down. However, as it’s inevitable, the power of starting fresh allows for growth and sanity.
Hear more about Natalie and Jibs here!
Check out Jibs: https://jibslife.com/
Growing up in a small town, you may feel like your options are limited. Nicole realized that her family’s dreams of taking over the flower shop would not be sufficient for her goals, she did not want to get stuck in the small town. So, she set out. She went to college with no direction as she was interested in various subjects. Now, Nicole is CEO of 2 companies, Werhausen Ag & Konato. With coaching and intuition, Nicole realized the value of leading as a woman. She honed in on her desire to be more, pushing every day to prove herself for others. Upon an accidental connection, she met her now colleagues, further proving the power of accidents.
Watch Nicole’s full interview here!
Check out Konato: https://www.konato.be/
What does it mean to be an inventor? Camilla Olson found that out at a very young age. She found herself constantly innovating. Normal was never good enough, there was always inefficiencies that needed improvement. This naturally led Camilla to be an entrepreneur. Camilla is now founder of Savitude. Savidtude is AI hyper-personalization to get real about the 100’s of different body shapes. Recognizing the hour-glass shape is not a one size fits all, Camilla focused her inventor mindset to launch Savitude. It’s hard being a startup founder. There’s no manual curated especially for you. Camilla faces this difficulty with persistence. Because, if you don’t persist, you cease to exist and therefore faultier to achieving success. But that’s not all, need something to watch? I recommend Camilla’s interview to get the full scoop.
Click here!
Check out Savitude here: https://www.savitude.com/
From Switzerland, Estella found herself in banking but, banking wasn’t where Estella belongs. She decided her dreams demanded to be followed and left Switzerland to go to FIT in New York. Estella quickly realized that with the beauty industry rapidly growing online there’s still a lack of personal consultations. So, Estella took it upon herself to create software that would not only provide consultations but also fill the gap in transparency for makeup users willing to know what’s in their products. After 2 years, Estella finally had a database large enough to provide some relief to people’s sensitive skin. Estella is glad that she trusted her gut to leave banking and bank on herself as an entrepreneur.
Check the episode out here!
Check out Skin Match: https://skin-match.com/
A natural problem solver, Ivana set out to provide ease to those that spend a lot of time traveling. By connecting fintech and travel tech, she set out to create a wallet that would work anywhere in the world. Her experience with China and interest in digital payments catalyzed her creation of Travel A La Carte with her sister as her co-founder. In her interview, she urges people to be patient with the process (and family). Success doesn’t happen overnight. Patience will allow you to make it to the finish line. She also highlights the importance of not separating women and men in tech. As we fight for equality it only seems right to fight for first among both genders.
Curious about Travel A La Carte? Watch her interview here!
Check out Travel A La Carte here: https://www.travel-tacpay.com/
In 2017, Victoria Duben, a lover of physics, decided to found a company that focuses on building professionally designed ads for people who aren’t proficient in the marketing industry. Need a bit of inspiration? She combined her love of science and Richard Branson’s theory of “checking the hypothesis” to build her business to now $1,000,000 in funding. But this funding did not come without challenges. There were moments where she felt there was no choice but to give up. Ultimately her passion for her project and her amazing team kept her trucking along. As a good team is as integral as a good leader, Victoria used their shared dreams to push forward and build her company to where it is now.
Watch her interview here!
Check out Viewest here: https://www.viewst.com/
Feather & Bone is born from a bad reaction to a store-bought face wash. This traumatic experience led Shubhangini to become infatuated with what it means to have a skincare routine. But not a store-bought chemically-filled skincare routine. Feather & Bone is focused on providing natural products that don’t harm sensitive skin. Shubhangini realized that the voices of women were getting lost in the beauty industry. Although women are the target market, men were making the decisions. Feather & Bone reclaimed and amplified the voices of women. Her bold and brave mindset continues to propel her forward in a competitive industry.
It’s not too late to watch it, click here!
Check out Feather & Bone here: https://www.featherandboneco.com/
Jane isn’t your typical startup founder. She came from Founders Institute in Saint Petersburg Russia. Therefore, Jane had exposure to startups from all different walks of life. But, Jane realized that the common reason for failure in these companies was burnout. Founders were unable to balance their stress. So, Jane decided to launch her own startup all in the name of health. But as we know in the startup community, launching and growing a startup is not a walk in the park. In fact, in efforts to combat burnout for other startups, Jane found herself facing that same issue, resulting in having to take many months off to recharge.
But, her story doesn’t end there, listen to the rest of her journey here!
Check out Welltory here: https://welltory.com/
We are so proud and thankful to have such honorable Women as part of our community. Stay tuned for further interviews showcasing our awesome alumni.
Don’t forget to subscribe to our Youtube channel to get first look at our upcoming content! https://www.youtube.com/channel/UC7D9onW5edZTgD1fw_Bm5xw
The post Changing the Narrative: VentureOut's Women in Tech first appeared on VentureOut.
]]>The post #VentureOutPerform: Notable Alumni Successes from Q1 2020 first appeared on VentureOut.
]]>Here in NYC, and many other big cities, it’s almost impossible to get anywhere in a reasonable amount of time. XTND heard the cries of locals suffering from delayed, overcrowded, and unpredictable public transit and came up with a sleek and innovative electric skateboard. Instead of struggling with public transit, a XTND user can effortlessly skate by the morning gridlock.
Pictured on the left is the XTND skateboard. Unlike a standard skateboard, XTND’s board is a reimagined lightweight, intelligent, and clean energy sourced electric vehicle that challenges conventional urban transportation
XTND brought in the first day of the new year with a $250K convertible note. Not only that but via Kick Starter in February, they succeeded their fundraising goal. Instead of $100,000, XTND has raised $346,540. Congrats guys! Miro Perina founded the company in 2017 and since then they’ve come a long way…literally. After coming through our Czech Tech program in 2017, XTND has moved their headquarters from the Czech Republic to San Francisco, California. With their Silicon Valley dream, there continuing to build their micro-mobility solution making a macro impact on urban commuting. Want to read more about XTND’s board? Check them out here!
German startup JustSpices’ origin story is a sweet one. Florian Falk and his co-founders Ole Strohschnieder and Bela Seebach attended university together and now run a multi-million dollar spice lifestyle brand. It all started when the trio rightfully realized that there was an incredibly large, unused potential within the spice sector. And, thus, JustSpices was born, a new, emotion-fueled approach to cooking with spices and a corresponding online shop and product range that would inspire people to cook and experiment with different recipes and tastes. Now that’s what I call edible innovation!
Pictured on the right is just a few of the countless delicious high-quality spices that Justspices offers. From at home kits, to delicious recipes, and even a blog for the adept or curious chef, JustSpices has it all to savor every moment in the kitchen. Check out their website here!
Since 2012, the trio has had exceptional success. Today, around 120 spices and more than 80 unique house blends of high quality that come in unique packaging are available in the webshop and selected retail stores. In December 2016, JustSpices attended our STEP NYC program in partnership with the German American Chamber of New York and just a year later they had made their way to distributing in the USA. And, they didn’t stop hustling there. Earlier this year, the crew has raised a $13M Series B round! Congratulations are definitely in order.
Cancer is the leading cause of death worldwide with cases per year expected to rise by 23.6 million by 2030. Lunaphore works tirelessly to better understand and defeat cancer. After being founded in 2014, this promising Swiss startup came through our Swiss Tech Night the same year. Since then, they have had 11 funding rounds and have raised a total of $36.7M.
Pictured on the left is Lunaphore’s LabSat. This machine is “a fast automated immunohistochemistry and immunofluorescence stainer that reduces staining turnaround times to minutes” You can learn more about their research technologies here.
Their CHF 23M Series C was funded by Alpana Ventures, Redalpine, Occident, PHC Holdings in hopes to build automated cancer research tools. Just last year, Lunaphore won second place in the TOP100 Swiss Startups. You can read their full press release here!
Google docs who? M-Files is paving the way to be the next generation of intelligent information management platform that helps businesses that find and use information more efficiently. Started in 2001, this Finnish company has continued to make headlines. In 2013 M-Files came through our VentureOut Finland program to escalate their already great business. Since attending our program, they have raised an additional $60M.
On the right is a diagram demonstrating the depth of M-Files operations. Looking to learn more and upgrade your information management system? Check them out here!
At the close of 2019, M-Files teamed up with Microsoft teams to integrate intelligent information management. Come the beginning of 2020, M-Files surpassed 100% subscription growth. Well done!
LiftIgniter is an American-based, machine learning prediction and layer powering personalization platform for digital media, e-commerce, and ads. This company was founded out of Google’s specialized ML research group. Producing 50% – 100% improvements in CTR, engagement & conversion on customer sites.
Pictured on the left is a photo captured from LiftIgniter’s experience at Techcrunch in 2017. They raised $6.4M to normalize website personalization on the internet. Read about it here!
So where are they now? They’re at the exit, enjoying every startup’s dream. This month LiftIgniter got acquired by Maven, a digital publishing, advertising, and distribution platform. Maven is valued at $65.6M and has had 4 acquisitions.
Optimity is a full-service digital platform that proactively helps employees be mindful and healthy. This female-founded Canadian startup has insurance-backed proven results on achieving strong ROI with their science-based approach to proactive wellness and habit coaching.
Pictured on the right is Optimity’s data flow overview giving insight to how to service benefits employees and policyholders.
Optimity took the leap and acquired PebbleIT , an IT services provider specializing in cloud and security compliance, infrastructure and consulting services in efforts to widen their influence in London.
Breathing.ai uses webcams and machine learning to detect biodata. The personalization integrates into existing hard-& software, improves consumer and corporate screens, and offers data reports. But American Startup Breathing.ai, is extending its reach to battle the Coronavirus.
Pictured on the left is the Novel Coronavirus, one that we’ve all become quite acquainted with, and the one that Breathing.ai Founder Hannes Bend is batting with his initiative.
Currently, in order to detect COVID-19 symptoms, a person is required to leave their home to go to doctors’ offices, hospitals, and testing sites meaning potentially spreading the virus. As breathing characteristics are a driving force behind diagnosing and screening patients infected with COVID-19, Hannes is working tirelessly to create and launch his interface that uses a laptop or smartphone camera with machine learning to detect vital signs such as heart rate in his prototype. If you or anyone you know would be interested in helping contact hannesbend@gmail.com.
Content Square has always been an impressive company. Since coming through our The French (tech) Connection program in 2014, Content Square has successfully had 2 acquisitions and raised $122M. It’s no surprise that they continue to lead in the New Media Space. What is Content Square you ask? Content Square is a platform from France that has developed a range of connected solutions for testing and optimizing user experiences, course’s ergonomics and, conversion rates.
To the right is a photo topping one of Content Square’s blog posts. A masked man looking into a daunting stack of data. But what does this mean?
Content Square has been doing its part in this global pandemic. Using real-time data from over 50 million transactions from 1400 sites, Content Square gives the curious reader up-to-date data on the economic impacts COVID-19 has had on e-commerce. Content Square’s latest post reports that online supermarkets, media outlets, tech retail, and insurance companies have seen the highest surge among this outbreak. Are you curious about COVID & Commerce? Read their blog here.
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]]>The post RECAP: Healthtech Virtual Program with Medstartr, March 2020 first appeared on VentureOut.
]]>Ten startups from around the world had the chance to come together virtually, learning how to launch and raise capital in the US, all while getting connected with some of the top tech influencers and investors in NYC along the way!
Now more than ever, millions of patients around the world are standing up and taking an active role in their health, including supporting the care innovations that matter most to them. MedStartr enables patients, doctors, institutions, partners, and investors to find and fund the best ideas in healthcare and bring them to life.
VentureOut is proud to have had the opportunity to organize multiple Healthtech programs in partnership with MedStartr since 2017.
Our one-week virtual private conference was an opportunity for the most promising healthcare companies selected to become immersed in the health community of New York, meeting virtually with leading startups, corporations, and venture investors.
VentureOut’s mission is to empower entrepreneurs with the education, resources, and connections needed to successfully raise capital and grow their business leveraging on all the opportunities NYC has to offer, and our one-week programs are designed to do just that.
Education and Mentoring are the backbones of any VentureOut program. By partnering with thought leaders in key areas, we give our startups an unfair advantage by arming them with best practices used to scale the most successful companies in Silicon Valley.
We gave our startups an opportunity to chat one on one with some of the top investors and entrepreneurs in the healthtech space in NYC.
Scaling a startup means dealing with accounting, legal and sometimes even immigration challenges. Our startups got to hear from our partner lawyers, who run some of the most active venture tech practices in NYC.
Our first virtual Healthtech demo day event featured a panel of seasoned venture investors focused on innovations in the sector.
As each founder pitched to investors, the entire NYC Healthtech community was invited join, giving startups an incredible opportunity to network with over 100 industry experts.
See below for a snapshot of our event and our speakers!
A nice testimonial from Joanna Stahl, founder of Go2Practice
“Wanted to say a quick thank you for the “Venture Out” week for not only the participation and inclusion in the group but the sense of focus it provided in a really uncertain time. Stealth startup life always has a level of risk and I was concerned about being part of a “healthcare/medically focused group” and then thrown on top of a global pandemic…. However, it was really great to be a part of the “health is wealth” economy and watching some of the true health care initiatives in action gave a unique perspective to the world at just the right time.
The shift to virtual I’m sure what a enormous feat so kudos to you! It was great to wake up to you and your vision each day and really set up the quarantine lifestyle in a positive way.”
Want to learn more? Click here to discover the Live Tweet of the program
You are a Healthtech startup and want to join our next edition? Click here to connect with us
Want to know more about VentureOut? Click here to see our programs
They make our program possible and are an incredible resource to all our startups, we couldn’t be more thankful.
The post RECAP: Healthtech Virtual Program with Medstartr, March 2020 first appeared on VentureOut.
]]>The post RECAP: STEP NYC Program in partnership with GACCNY, March 2020 first appeared on VentureOut.
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Our one-week hyper-accelerator was an opportunity for the most promising early-stage tech companies from Germany to become immersed in the tech communities of New York, meeting with leading U.S. startups, corporations, and venture investors. We empower our international entrepreneurs with the education, resources, and connections needed to successfully raise capital to launch their business in the U.S. market.
Click here to learn more about our German programs.
Education and Mentoring are the backbones of any VentureOut program. By partnering with thought leaders in key areas, we give our startups an unfair advantage by arming them with best practices used to scale the most successful companies in Silicon Valley.
We gave our startups an opportunity to sit down in a fireside chat setting with some of the top investors and entrepreneurs in the tech space in NYC.
For any foreign startup, expanding to a new country means dealing with accounting, legal and immigration challenges. Our startups got to hear from a panel of lawyers and accountants that run some of the most active venture tech practices in NYC as well as representatives of the French institutions helping startups in their international expansion.
Pictured below: some of the highlights of the program.
The pitch night is the capstone of the STEP NYC program. We started with networking, cocktails, and hors-d’oeuvres. Following a round of introductions, then each startup pitched for 2 minutes and received feedback from each investor on the panel. The night was capped off with more networking and refreshments.
Want to learn more? Click here to discover the Live Tweet of the program
You are an International startup and want to join our next edition? Click here to connect with us
Want to know more about VentureOut? Click here to see our programs
They make our program possible and are an incredible resource to all our startups, we couldn’t be more thankful.
The post RECAP: STEP NYC Program in partnership with GACCNY, March 2020 first appeared on VentureOut.
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