Rain Rannu - Fortumo - Stanford - Feb 28 2011
-
Upload
burton-lee-phd-mba -
Category
Business
-
view
2.013 -
download
7
Transcript of Rain Rannu - Fortumo - Stanford - Feb 28 2011
Entrepreneuship and startups in Estonia
Rain RannuStanford UniversityFebruary 28, 2011
Monday, February 28, 2011
Rain Rannu
• 30 years old
• BA & MBA from Tartu University, Estonia
• Entrepreneur for the past 11 years
Monday, February 28, 2011
Mobile penetration exceeds Internet penetration
More people can use m-services than e-services
Rain Rannu, Mobi Solutions
More people can use m-services than e-services
Monday, February 28, 2011
Computers are tied to a place, mobile devices are always with the user
M-services can be used from more places than e-services
Monday, February 28, 2011
Monday, February 28, 2011
Adding mobile payments to your app or game should be as easy (and cheap) as creating a blog or a homepage
Monday, February 28, 2011
Fortumo.com
• Founded in 2007
• Spun out of parent company Mobi Solutions (which we founded in 2001)
• Works in 50 countries worldwide
• 20+ people in 6 countries
• Profitable
Monday, February 28, 2011
Monday, February 28, 2011
Monday, February 28, 2011
Monday, February 28, 2011
Garage48.org
From idea to service in 48 hours!
Monday, February 28, 2011
Monday, February 28, 2011
Monday, February 28, 2011
Why I’m in Silicon Valley?
Monday, February 28, 2011
2001
Monday, February 28, 2011
Monday, February 28, 2011
Casual Connect Europe sponsors list from http://europe.casualconnect,org
Monday, February 28, 2011
Hiring
Monday, February 28, 2011
What we’ve learned?
Monday, February 28, 2011
You can’t outsource or delegate business development of a startup
Monday, February 28, 2011
Presence is not office space or local company... it’s being here
Monday, February 28, 2011
Everything takes more time than expected
Monday, February 28, 2011
Monday, February 28, 2011
Northern Europe
Monday, February 28, 2011
Startups in Estonia
• Phase 1: copy globally successful services for domestic market
• Phase II (Skype, etc.): founders and funding from abroad, engineering from Estonia
• Phase III (now): Estonian-founded and owned startups trying to break to international markets.
Monday, February 28, 2011
Monday, February 28, 2011
Lack of (VC) funding makes Estonian startups focus on profitability from early on
Monday, February 28, 2011
Why is Silicon Valley better than Estonia?
Monday, February 28, 2011
Customers
Investors
Monday, February 28, 2011
Events
Monday, February 28, 2011
No -10F weather in February!Monday, February 28, 2011
Why is Estonia better than Silicon Valley?
Monday, February 28, 2011
Tiny domestic market, makes you look to international markets right from the start
Monday, February 28, 2011
Less competition for talent, more loyal employees
Monday, February 28, 2011
Cost of living
Monday, February 28, 2011
No traffic jams!
Monday, February 28, 2011
Challenges for Estonian statups:
Monday, February 28, 2011
Monday, February 28, 2011
Image: http://www.theexitstore.com
Monday, February 28, 2011
Image: http://www.gettyimages.com
Monday, February 28, 2011
Thank you!
http://twitter.com/rainrannu
http://fortumo.comhttp://garage48.org
Monday, February 28, 2011