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Failure is not ‘the end’, but missed opportunity could be

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When it comes to getting into a new business opportunity, it has been always debated: whether to take a risk, or give up before even trying. From my personal experience, it is always better to take a risk, but wisely. Never try unknown water with your both foots. Or, never put all eggs into a single basket. This is very smart rule on taking risks in a business.

The rest is up to you: how brave you are, or how much agility, passion or desire you have – simply, how much you are determined to succeed.

 

I have failed with several projects recently, including vending machines and marketing networks, loosing a couple of thousand bucks, but I learned some lesson. 1. Never mess with unhonest guys. 2. If you indend to start new projects/opportunities, first learn about the subject that you are getting into. Also, keep in mind that money should not be supposed to be your ultimate goal. It will inevitable come soon or later, only if you are discipined and focused.

 

Never give up

Sounds like a cliche. But it’s true. Never give up… This morning I read about amazing Minesotta University runner girl – Heather Dorniden. At the recent college championship race, among some of the best runners in the US, with only one lap to go – she suddenly tripped and fell to a last place. But Heather didn’t quit. She found a strength to stand up again, continued to run, and finally won the race. This amazing act shocked all crowd. If we don’t recover from all failures that are coming in a real life, we will never achieve any important goals.

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Travel and meet people

When my wife asked me last week what I’d like to get me for my birthday (it’s my 32nd) I said: I want a new bag. She said no – because you will trave more, and I want you at home J Travelling is one of the best ways to learn about world around you, and networking on the other side, helps you to meet people better. Prior to starting any new business, pay attention to 2 things: 1. Who you work with, and 2. What are your goals. These are fundamental things. Then, it comes up to the organizational and other aspects of you team/organization.

 

How do you search for new ideas

This is the coomon dilemma and question we all had many times. How do brilliant ideas come to the table? Do they appear suddenly, are they only inspirational moments of imagination, or something different… I stongly bilieve that good ideas often come from a people’s real needs, i.e. as a result of solving ‘a real problem’. Real problem is the root and source of any innovation. If you want to be innovator, you must be in a first place a ‘problem-solver’, maker, fighter. Break out from a mindset that most people have, and think out of boundaries. Be self confident, but not over-confident, and learn to listen to others. You learn by experience, no doubt about it. There is a word (or might be even some survey statistic), at least every 1 out of 10 projects that you start, will be successfull.

 

When I started my first ‘business’ 20 years ago, at the age of 12, I decided to sell shoes. I was playing in my yard with other kids, and I noticed that there are many old shoes, left from my parents and family. As many people used to move those days thru our house, (it was 1994 – War in Bosnia), there were plenty of them. So, I proposed this idea to my 2 years elder friend, and said: Hey, let’s start selling shoes on the public market. He agreed. I collected all pairs of shoes, cleaned them, and put them into a basket. Next day we got up very early (at 6 AM), picked up bags and went straight to the open market (you know, where they use to sell vegetables, fruits, clothes and almost all other kind of goods). But, unexpecteldy, we didn’t sell any piece of shoe, that day. Not even the next day. And not even next 5 days in a row… Not a single pair of shoes! It was devastating and shocking experience to me, so naturally, next day I returned back to playground with my friends. But, it was also a good lesson (that I was not aware of, then). If I knew couple of things then, that I know now, I would not give up that easy, but instead would try to do some change in my approach – so to say, look at the problem from a different perspective.

 

First, I would spend a day or two, only walking on the market and watching what people are mostly buying (survey a market). Second, I would probably need to decide what specific shoes I want to sell, for men or women, and then would clean and make them shine in the best possible way (shaping the product). Finally, I would need to relocate because my selling table was at the end of the market raw. I had really a horrible position that hardly anyone could come to that table, not to mention buying (positioning on the market). If you have an amazing product, and you have a passion to sell it, it is still not enough. You must have a friend/partner whom you trust, or better to say, you should first work passionately on founding a team.

 

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As an individual, you can do a lot, but as a group even more. Here, the group itself event doesn’t guarantee anything to you. You should learn how to manage a team, be a friend with your team members, and check if they share the same passion for an idea, as you do…

 

Diversity is good, but focus is a fundament

Through the years, I came across several business ideas, some of them were really briliant. I started at least 30 projects (in the food, magazines, vending machines, and even sports managment agency! 🙂 But, in most cases I didn’t have ability to focus, so I quited somewhere in the middle of a milestone. Other problem is that I didn’t have a competence – Never work with things that you don’t know in a core, what does it mean, or how does it function. At least have someone nearby that you can learn from. They call this „know-how“.

 

In origin of any idea comes a real problem, but the sole idea counts only up to 5% of the succeess, where you want to come. When we recently had severe Floods in the region, many came to an idea to create a web platform, service to collect all news in a single place, from following people who organize actions for help, to contributing in managing any kind of help to devastating areas. But, unfortunately I haven’t seen any of platforms became a single point source, service providing single point of collaboration, thus providing help to stay updated about current situation.

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Deloitte Unveils 2018 North America Technology Fast 500™ Rankings

MD Staff

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Deloitte today released the “2018 North America Technology Fast 500,” an annual ranking of the fastest-growing North American companies in technology, media, telecommunications, life sciences and energy tech sectors. SwanLeap claimed the top spot with a growth rate of 77,260 percent from 2014 to 2017.

SwanLeap, is a leading end-to-end transportation technology provider for logistics managers and supply chain decision-makers. Founded in 2013, SwanLeap uses artificial intelligence and machine learning to reduce costs for corporate shippers and improve their supply chain performance. Its new technology is helping clients secure an annual average transportation savings of 27 percent. SwanLeap is one of the two Madison, Wisconsin-based companies in the top 10 this year.

Awardees are selected for this honor based on percentage fiscal year revenue growth from 2014 to 2017. Overall, the 2018 Technology Fast 500 companies achieved revenue growth ranging from 143 percent to 77,260 percent over the three-year time frame, with a median growth rate of 412 percent.

“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into useful products, services and experiences that can captivate new customers and drive remarkable growth.”

“It is both humbling and validating for SwanLeap to be listed as the No. 1 fastest-growing company on the Deloitte Fast 500,” said Brad Hollister, CEO and co-founder of SwanLeap. “Our team has worked relentlessly to deliver unprecedented clarity and control to a fragmented shipping market through technology powered by artificial intelligence, curating cost-effective and personalized supply chain recommendations in real time. We are grateful to our employees and customers for making this achievement possible.”

The Technology Fast 500’s top 10 include:

2018 Rank Company Sector Revenue Growth (2014 to 2017) City, State
1 SwanLeap Software 77,260 percent Madison, Wisconsin
2 Justworks Software 27,150 percent New York, New York
3 Shape Security Software 23,576 percent Mountain View, California
4 Periscope Data Software 23,227 percent San Francisco, California
5 Arrowhead Pharmaceuticals Inc. Biotechnology/
pharmaceutical
17,847 percent Pasadena, California
6 Viveve Medical Inc. Medical devices 16,887 percent Englewood, Colorado
7 iLearningEngines Software 14,848 percent Bethesda, Maryland
8 Exact Sciences Corp. Biotechnology/pharmaceutical 14,694 percent Madison, Wisconsin
9 Podium Software 13,381 percent Lehi, Utah
10 Markforged Electronic devices/hardware 12,687 percent Watertown, Massachusetts


Silicon Valley has largest share of winners

Deloitte’s Technology Fast 500 winners represent more than 38 states and provinces across North America.

California’s Silicon Valley continues to produce fast-growing companies, leading regional representation with 18 percent of this year’s Fast 500. The New York metro area also fared well with 14 percent of the companies; New England and Greater Washington, D.C., areas followed with 7 percent each, and Greater Los Angeles accounted for 6 percent. Following is a summary of the 2018 ranking by regions with a significant concentration of winners:

Location Percentage of List Fastest-Growing Company in the Region Overall Company Ranking Dominant Sectors in Location
Silicon Valley 18 percent Shape Security 3 Software 77 percent
New York Metro Area 14 percent Justworks 2 Software 56 percent; Digital content/media/entertainment 23 percent
New England 7 percent Markforged 10 Software 40 percent; Biotechnology/pharmaceuticals 29 percent; Medical devices 20 percent
Washington, DC iLearningEngines 7 Software 75 percent
Greater Los Angeles Area 6 percent Arrowhead Pharmaceuticals Inc. 5 Software 65 percent

Software continues to dominate the list for the 23rd straight year
Software companies continue to deliver the highest growth rates for the 23rd straight year, representing 64 percent of the entire list and six of the top 10 winners overall. Of the private companies on the list, 34 percent identify themselves as part of the software as a service (SaaS) subsector, 17 percent in the enterprise software subsector, and 9 percent in fintech. Since the creation of the ranking, software companies have consistently made up the majority of winners, with a median growth rate of 412 percent in 2018.

Digital content, media and entertainment companies make up the second most prevalent sector in this year’s rankings, accounting for 12 percent of the Fast 500 companies and achieving a median growth rate of 385 percent in 2018. Biotechnology/pharmaceutical companies rank third at 11 percent of the list with a median growth rate of 411 percent.

The Technology Fast 500 by industry sector:

Sector Percentage Sector Leader Median Revenue Growth (2014 to 2017)
Software 64 percent SwanLeap 412 percent
Digital content/media/entertainment 12 percent Remark Holdings Inc. 385 percent
Biotechnology/pharmaceutical 11 percent Arrowhead Pharmaceuticals Inc. 411 percent
Medical devices 5 percent Viveve Medical Inc. 396 percent
Communications/networking 3 percent xG Technology Inc. 394 percent
Electronic devices/hardware 3 percent Markforged 410 percent
Semiconductor 1 percent Aquantia Corp. 206 percent
Energy tech 1 percent Momentum Solar 693 percent

Four out of five companies received venture backing
In the 2018 Fast 500 rankings, 80 percent of the companies were backed by venture capital at some point in their company history. Notably, 25 of the top 30 companies on the Technology Fast 500 in 2018 received venture funding.

“Software, which accounts for nearly two of every three companies on the list, continues to produce the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP and industry leader for the technology, media and telecommunications industry, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”

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Quantum Technologies Flagship kicks off with first 20 projects

MD Staff

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The Quantum Technologies Flagship, a €1 billion initiative, was launched today at a high-level event in Vienna hosted by the Austrian Presidency of the Council of the EU.

The Flagship will fund over 5,000 of Europe’s leading quantum technologies researchers over the next ten years and aims to place Europe at the forefront of the second quantum revolution. Its long term vision is to develop in Europe a so-called quantum web, where quantum computers, simulators and sensors are interconnected via quantum communication networks. This will help kick-starting a competitive European quantum industry making research results available as commercial applications and disruptive technologies. The Flagship will initially fund 20 projects with a total of €132 million via the Horizon 2020 programme, and from 2021 onwards it is expected to fund a further 130 projects. Its total budget is expected to reach €1 billion, providing funding for the entire quantum value chain in Europe, from basic research to industrialisation, and bringing together researchers and the quantum technologies industry.

Andrus Ansip, Commission Vice-President for the Digital Single Market, said: “Europe is determined to lead the development of quantum technologies worldwide. The Quantum Technologies Flagship project is part of our ambition to consolidate and expand Europe’s scientificexcellence. If we want to unlock the full potential of quantum technologies, we need to develop a solid industrial base making full use of our research.”

Mariya Gabriel, Commissioner for Digital Economy and Society, added: “The Quantum Technologies Flagship will form a cornerstone of Europe’s strategy to lead in the development of quantum technologies in the future.  Quantum computing holds the promise of increasing computing speeds by orders of magnitude and Europe needs to pool its efforts in the ongoing race towards the first functional quantum computers.”

In the early 20th century, the first quantum revolution allowed scientists to understand and use basic quantum effects in devices, such as transistors and microprocessors, by manipulating and sensing individual particles.

The second quantum revolution will make it possible to use quantum effects to make major technological advances in many areas including computing, sensing and metrology, simulations, cryptography, and telecommunications. Benefits for citizens will ultimately include ultra-precise sensors for use in medicine, quantum-based communications, and Quantum Key Distribution (QKD) to improve the security of digital data. In the long term, quantum computing has the potential to solve computational problems that would take current supercomputers longer than the age of the universe. They will also be able to recognise patterns and train artificial intelligence systems.

Next steps

From October 2018 until September 2021, 20 projects will be funded by the Flagship under the coordination of the Commission. They will focus on four application areas – quantum communication, quantum computing, quantum simulation, quantum metrology and sensing – as well as the basic science behind quantum technologies. More than one third of participants are industrial companies from a wide range of sectors, with a large share of SMEs.

Negotiations are ongoing between the European Parliament, Council and Commission to ensure that quantum research and development will be funded in the EU’s multi-annual financial framework for 2021-2028. Quantum technologies will be supported by the proposed Horizon Europe programme for research and space applications, as well as the proposed Digital Europe programme, which will develop and reinforce Europe’s strategic digital capacities, supporting the development of Europe’s first quantum computers and their integration with classical supercomputers, and of a pan-European quantum communication infrastructure.

Background

Since 1998, the Commission’s Future and Emerging Technologies (FET) programme has provided around €550 million of funding for quantum research in Europe. The EU has also funded research on quantum technologies through the European Research Council (ERC). Only since 2007, the ERC has funded more than 250 research projects related to quantum technologies, worth some 450 million euro.

The Quantum Technologies Flagship is currently supported by Horizon 2020 as part of the FET programme, which currently runs two other Flagships (The Graphene Flagship and the Human Brain Project Flagship). The FET programme promotes large-scale research initiatives to drive major scientific advances and turn them into tangible innovations creating benefits for the economy and society across Europe. Funding for the Flagship project comes from Horizon 2020, its successor programme Horizon Europe and national funding.

The Quantum Technologies Flagship is also a component of the Commission’s European Cloud Initiative launched in April 2016, as part of a series of measures to support and link national initiatives for the digitisation of Europe’s industry.

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Russiagate and the current challenges of cyberspace: Interview with Elena Chernenko

MD Staff

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PICREADI presents an interview with a prominent Russian expert in journalism and cybersecurity Elena Chernenko, Deputy head of Foreign Desk at the Kommersant daily newspaper in Moscow. The talk is about hackers, Russiagate and current challenges of the cyberspace.

 

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