Wavy GmbH 2020 © All rights reserved
Have you ever dreamed of starting your own business? On paper, it looks like the perfect fit for you: being your own boss, choosing your schedule, doing something that you love etc… The reasons for starting your business are numerous. But every Startup founder will tell you that it is hard-work. Though challenging and stimulating, many obstacles are to overcome to get your idea up and running! In this unique venture, you don’t have to be alone. You can get support from many programs, just like the Telekom Tech Boost Program.
..Wavy’s success story with Telekom Tech Boost. And how it’s been a strategic milestone in Wavy early stage development.
You will find on the web many tips of founders to get a good start with your startup and avoid some common huge mistakes. However, here, we would like to walk you through the interest of having smart money.
Well, the first thing that pops up in our head, is that money could solve many things. And it actually does! But money is just a mean and having it for its own sake is not as efficient as having smart money. You could get all the money you want; it doesn’t necessarily say that you will succeed. Indeed, if you, for example don’t have a market need for your product or service, you can invest as much as you want but it won’t help launch. A good example is the Google Glass, where the giant tech firm heavily invested in R&D. But at the end of the day, resulted in a monumental failure.
For Mark, CEO and Founder of WavySys, people need to overcome that deception that money will obviously get you started. It is, in reality, a bit more complicated. Indeed, money for sure needs to bring in cash flows for purchase decisions, fixed costs such as HR or R&D. But when looking beyond this, you realize that from whom and from where the money comes, is as much valuable for your business. Investors can bring you their expertise, and support you all the way up. Smart Money is really about acquiring external expertise, network, time, ecosystem, and of course financial resources.
The Telekom Boost Program aims to be a strategic partner for startup. It bridges the gap between small start-ups and German small and medium sized companies (SMEs).
By using its wide reaching customer networks as well as its extensive contacts to SMEs, Telekom brings in the network startups-need for developing B2B relationships and businesses. The program contains up to 10 millions euros for 100 startups or 100,000€ pro startup. Along with it, comes what makes that funding, smart money. The program allows startups to get access to resources such as cloud resources, sales and marketing support.
Wavy took part in this program and received funding in credit to get access to advanced Telekom resources. This allowed to develop a state-of-the-art secure, fast and reliable technology that is directly implemented in the WavySys Booking System software. This smart money was at all point strategic. Indeed, it was killing two birds one stone. On one side, developping the product with cloud and powerful servers assistance. And on the other side, to assure customers quality, speed and cyber-security.