technology, transitioning countries, and why entrepreneurship can change moldova
TRANSCRIPT
Sava Marinković Founder/Director, TeleSkin d.o.o.
@nanosava
18 May 2011
Technology,
Transitioning countries, and
why entrepreneurship can
change Moldova
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
Moldova and Serbia: Similar countries with similar challenges
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Fashion
Cuisine
Transitioning
Countries
Historical
Technical
expertise
History shapes culture and the way you look at opportunities
– find the unique advantages!
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
The underlying TeleSkin technology is a revolutionary approach to digital
dermoscopy and is proven with the largest skin cancer study in Serbia
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TeleSkin technology description Skin cancer study results
Skin imaging via digital dermoscopy
Integrated hardware/software solution
>1800 patients, >3600 lesions
106 skin cancers, 41 melanomas
Identified all cancers correctly;
only one false positive 23 patents in process
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
TeleSkin: Spotting opportunity with available resources
Ingredients for Success
• Located at Business Startup Incubator
• Partnered with University Labs
• Came up with a great team
• Stayed connected to the market
• Worked with government grants
• Filed global patents
• In production
Results
▪ Largest skin cancer study in Serbia (4000+
Patients)
▪ Uses hardware/software/scanning
▪ Growing team in 3 countries
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| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
Don’t worry about the money: Build a great idea / business and the money
will always be there.
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Idea
•Core concept
Boot strap
•Founders
Proof of Concept
•Working prototype
Angel
•Market Development
•Impact
Series A/B
•production
- Reached out to over 100
investors
- Built board of advisors
- Continued to evolve Idea
Team
Competition
Market
Value Proposition
2006 2007 2011
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
Two key success factors: Fighting perception and getting over the investor
hurdle
• Political Risks
• Cultural Risk
• Legal Framework
• Incentivizing employees
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How to Overcome?
Smart ideas
Competitive advantage
Mitigate with other
boards, experience,
demand, local partners
Opportunity
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
Entrepreneurship is difficult anywhere in the world…it is not a low-risk
endeavor!
Complexity
• Must have a great product
idea
• Build a company
• Find co-founders
• Hire team / Talent
• Finance
• Compete
• Build a culture
Risk Mitigators
• Advisors/ mentors
• Closeness to Market
• Iterate
• Lean-Startup
• Good attitude
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OutSourcing
• Client Defines Needs
Product-Centric
• Applying the Technology within the product cycle
• Learn HERE!
• Lean Startups
Ecosystems / Industries
• National Competitiveness
• Faster Product Development
+ Jobs
+ Value
+ Impact
Building products (physical, IT, etc) allows startups to continue to grow
while creating maximum impact. Investors love this and it leads to greater
opportunities
* Most common in
developing (Tech)
countries
VCs fund here
*but*
must touch
market
Easier to build,
attract capital, and
long-term growth
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
Thoughts for entrepreneurial success:
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• Tip #1: Start today
• Tip #2: Test your ideas with customers and talk with others
• Tip #3: Build prototypes, test, and rebuild
• Tip #4: Take risks, and fail often
• Tip #5: Don’t worry about politics –
Build something you want to. Solve a problem, believe in it, and start today.
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
It sometimes only takes one win to accelerate other successes…..
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Сава Маринковић
+381 62 550097
Twitter: @nanosava
Mulţumesc! Thank you! Хвала!
| MOLDOVA ICT SUMMIT 2011 - MARINKOVICH
APPENDIX
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Governments have successfully accelerated innovation by supporting their
most promising technology start-ups
MIT startup received a $249M grant
from US DOE for Lithium Ion
battery production.
$24M investment from Canadian
Government under Technology
Partnership Canada Program to
introduce first wireless handset