Mission accomplished: South3E wraps up having successfully contributed towards the Southern European deep tech ecosystem
The South3E project has now approached the end of its mission. It has dedicated the last two and a half years to helping forge a stronger deep tech innovation ecosystem in the South of Europe.
After launching in June 2022 and officially wrapping up in December 2024, the four partners of the South3E Consortium are now celebrating the successes achieved by the project and its three tracks, as reflected in its numbers.
https://youtu.be/b7Dn0VzmkSs
South3E in numbers
S3E START
The hands-on program for research teams to help them explore the commercial viability of their deep tech projects, led by HiSeedTech.
Results of this track:
- 2 Open Calls
- 60 Applications received from research teams
- 31 Applications received from TTOS
- 17 Evaluators
- 34 Selected research teams
- 23 Selected TTOs
- 46 mentors
- Training sessions delivered: 30 online tutorials, 14 webinars
- 2 Open Days with 481 registered participants
🌟 Highlighted achievement: S3E Start received a Net Promoter Score (NPS) of 53, which reflects the high satisfaction among the participating teams.
S3E CHARGE
The acceleration program for growth startups to access funding opportunities and expand their business operations, led by Institute for Sustainable Development at EPLO.
Results of this track:
- 3 Open Calls
- 92 Applications received
- 16 Evaluators
- 50 Participating startups
- 39 Training Sessions delivered
- 37 mentors
- 2 Open Days with 240 registered participants
🌟 Highlighted achievement: Thanks to S3E Charge, the participating startups have been successfully connected to 50+ public and private funding opportunities.
S3E REVERSE
The business brokerage program connecting deep tech SMEs and startups with corporates to tackle industry challenges, led by International Development Ireland.
Results of this track:
- 2 Open Calls
- 29 Corporate challenges
- 98 Solvers applications
- 24 Solvers selected
- 25 deep tech Brokers
- 71 successful matches
🌟 Highlighted achievement: The outcomes of the Reverse Brokerage program will help to drive the growth of open innovation and corporate venturing in Southern Europe.
None of this would've been possible without the amazing S3E community we've built over the past 2 years!
We'd like to express our heartfelt thanks to all the S3E Experts that embarked with us on this journey, including mentors, evaluators, assessors and trainers. And, of course, to the European Innovation Council and SMEs Executive Agency (EISMEA) for supporting our initiative.
S3E Start 2024 | Meet the research team: THYMI
At this year's S3E Start Open Day, celebrated at the Tivoli BBVA Theatre in Lisbon, we interviewed the participating research teams to find out more about their projects and how they’re planning to implement the knowledge they’ve gained through our program to take their innovation from the lab to the the market.
THYMI is one of the 14 teams that was selected to join the 2024 edition of S3E Start, our program of support for deep tech research and entrepreneurship in Southern Europe, coordinated by our South3E partner HiSeedTech. Watch below the full interview to hear all about their work and their experience on Start!
https://youtu.be/oTgFbbL7Nfo?feature=shared
“As scientists, we lacked a lot of the knowledge required to transition an idea from a research setting into a more entrepreneurial setting, and we knew the S3E Start program would help us with everything we needed to turn our project into a viable business." — Pedro Ferreirinha
This project is pioneered by researchers Rute Pinto and Pedro Ferreirinha from i3S - Institute for Research and Innovation in Health. They've created an innovative solution that offers, for the first time, the possibility to produce in laboratory patient-specific T cells that can be used to supplement patient immunity with no risk of transplanted cell rejection or side-effects.
Want to meet the rest of the teams? Access the full playlist featuring interviews with other participating teams.
If you missed the S3E Start Open Day, you can watch the full livestream recording with all the teams' pitches or our event recap for the top highlights.
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S3E Start 2024 | Meet the research team: GENESIS
At this year's S3E Start Open Day, celebrated at the Tivoli BBVA Theatre in Lisbon, we interviewed the participating research teams to find out more about their projects and how they’re planning to implement the knowledge they’ve gained through our program to take their innovation from the lab to the the market.
GENESIS is one of the 14 teams that was selected to join the 2024 edition of S3E Start, our program of support for deep tech research and entrepreneurship in Southern Europe, coordinated by our South3E partner HiSeedTech. Watch below the full interview to hear all about their work and their experience on Start!
https://youtu.be/TihCZ_82m8I?feature=shared
“It was wonderful to participate in this program! This experience has helped us to jump from the research stage into starting a company." — Diogo Silva
This project is pioneered by researchers the Faculty of Engineering at University of Porto (FEUP) in collaboration INEGI, including: Alexandra Rodrigues Pinto, Diogo Silva, Helder Xavier Nunes and Lucas Marcon. Their main focus is to help the maritime sector reduce their dependency on oil-based fuel engines and in turn adopt greener and environmentally-friendly practices thanks to GENESIS, a safe plug-and-play off-grid production system that assures clean, pure hydrogen and borate with high value.
Want to meet the rest of the teams? Access the full playlist featuring interviews with other participating teams.
If you missed the S3E Start Open Day, you can watch the full livestream recording with all the teams' pitches or our event recap for the top highlights.
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S3E Reverse: University Hospital Cologne and Tero join forces to implement Big Data management systems in hospital settings
Through the S3E Reverse program, University Hospital Cologne and Greek startup Tero are coming together to devise effective management systems for highly sensitive clinical data.
Part of the EU-funded project South3E, Reverse is a dedicated business brokerage program connecting corporate challenges with deep tech solutions developed by scaleups and SMEs from Southern Europe. The program is built on a successful open innovation methodology designed to foster collaboration and drive technological advancement.
The challenge
The University Hospital Cologne (Uniklinik Köln) is one of Germany’s most outstanding medical centers, internationally renowned for its innovation-driven research powering some of the most disruptive solutions in modern healthcare. Among its many successes, the interdisciplinary teams at Cologne are acclaimed for leading up the development of new treatments for patients underpinned by robust scientific research, especially in the area of rare diseases.
In order to facilitate the safe exchange of clinical data and support informed clinical decision-making at the Hospital, they were looking to implement a robust data-protecting systems for its intra- and interhospital infrastructures, which is crucial for ensuring that sensitive patient information is transmitted securely between departments and partner institutions, minimizing the risk of data breaches and unauthorized access.
Without such protections, the hospital could face significant risks, including compromised patient privacy, potential legal liabilities, and the erosion of trust in the healthcare system. Additionally, delays or inaccuracies in clinical decision-making due to insecure or inefficient data exchange could lead to suboptimal patient outcomes.
With this in mind, the University Hospital Cologne signed up to S3E Reverse as a Challenger to find a specialist tech startup capable of providing the ultimate solution to their key need.
After receiving Cologne’s challenge, Reverse broker Epaminondas Christophilopoulos was assigned to the mission of finding the best match for them. He is the UNESCO Chair on Futures Research at the Institute of Technology and Research (FORTH), and holds an impressive track record of providing foresight, strategy, innovation and long-term planning advisory in R&D activities carried by public and private corporations.
The solution
Greek startup Tero specialises in developing technologies aimed at improving environmental and social welfare. Their main focus is to provide innovative solutions for environmental monitoring, pollution control and sustainable development, and they offer expertise in managing projects that integrate advanced technology with environmental science.
However, in addition to their environmental focus, Tero also works on projects that have a significant social impact. This includes initiatives that enhance public health, safety, and community well-being through the application of their ICT solutions, making them the perfect Solver to tackle University Hospital Cologne's challenge: to design a high-tech platform for big data management and the support of secure information exchange in a hospital setting.
By joining S3E Reverse, Tero’s team of professionals brought in their expertise and knowledge to help Cologne’s clinicians and researchers to implement a big data management system to enhance the protection of clinical data by centralizing and securing patient information across various platforms. This approach will enable the hospital to monitor data access, detect potential breaches in real-time, and enforce stringent security protocols. Additionally, the system would ensure that only authorized personnel can access sensitive information, reducing the risk of unauthorized data exposure.
Overall, by collaborating hand-in-hand with Tero, the Hospital will be able to manage large volumes of clinical data efficiently, as well as improving their compliance with regulatory standards, safeguarding patient privacy and maintaining trust.
A call to innovators: apply to be a Solver and join the Deep Tech revolution!
This partnership between University Hospital Cologne and Tero is a testament to the power of collaboration and innovation to tackle industry challenges.
We invite all Deep Tech startups and SMEs based in Southern Europe to explore our challenges and join the S3E Reverse program as a Solver. The deadline for applications is 31 October 2024.
For more information and to apply, click here.
S3E Reverse: University Hospital Cologne and CNT set on a mission to revolutionize medical research
Through the S3E Reverse program, University Hospital Cologne and Greek startup Creative Novel Technologies (CNT) are joining forces to develop AI-powered tools that can help researchers and clinicians bring new solutions to patients faster.
Part of the EU-funded project South3E, Reverse is a dedicated business brokerage program connecting corporate challenges with deep tech solutions developed by scaleups and SMEs from Southern Europe. The program is built on a successful open innovation methodology designed to foster collaboration and drive technological advancement.
The challenge
The University Hospital Cologne (Uniklinik Köln) is one of Germany’s most outstanding medical centers, internationally renowned for its innovation-driven research powering some of the most disruptive solutions in modern healthcare. Among its many successes, the interdisciplinary teams at Cologne are acclaimed for leading up the development of new treatments for patients underpinned by robust scientific research, especially in the area of rare diseases.
With the amount of research being produced by medical and healthcare experts, the university hospital has been looking at appropriate techniques to develop search strategies for systematic reviews of medical research. One of the main challenges that researchers encounter during their investigative processes is having to sift through multiple databases and sources of scientific literature, making it extremely time and resource intensive.
With this in mind, the University Hospital Cologne signed up to S3E Reverse as a Challenger to find a specialist tech startup capable of providing the ultimate solution to their key need.
After receiving Cologne’s challenge, Reverse broker Epaminondas Christophilopoulos was assigned to the mission of finding the best match for them. He is the UNESCO Chair on Futures Research at the Institute of Technology and Research (FORTH), and holds an impressive track record of providing foresight, strategy, innovation and long-term planning advisory in R&D activities carried by public and private corporations.
The solution
With a clear mission to leverage the full capabilities of IoT technologies to help others innovate, Thessaloniki-based startup CNT stood out as the most fitting Solver to tackle two challenges submitted by University Hospital Cologne: to develop sustainable search frameworks to support medical and clinical researchers in their day-to-day investigative work.
Dimitrios Tektonidis is the brain behind CNT's innovative solutions, a Computer Science expert leading a large network of specialists to create new products, services and integrated IT solutions — from the implementation of Internet Systems Management all the way to the creation of tailored Cloud-based systems.
By joining S3E Reverse, CNT’s team of professionals brought in their expertise and knowledge to help Cologne’s researchers accelerate their discoveries, bringing them closer to finding solutions to some of the most pressing health issues they’re dealing with.
In order to tackle the challenge, CNT has offered their very own AI-powered semantic search services supported by the in-house developed ONAR framework, which has been developed as part of long collaborations with industry and research organisations, and previously validated in a number of business and use cases. This will help medical researchers minimize their paper scouting time, accelerating the speed in which life science researchers gain insights.
Thanks to CNT’s state-of-the-art IoT approach, this powerful collaboration with University Hospital Cologne is set to revolutionize medical research in academia, and in turn make a positive impact on the lives of many patients whilst paving the way for the future of healthcare innovation.
A call to innovators: apply to be a Solver and join the Deep Tech revolution!
This partnership between University Hospital Cologne and CNT is a testament to the power of collaboration and innovation to tackle industry challenges.
We invite all Deep Tech startups and SMEs based in Southern Europe to explore our challenges and join the S3E Reverse program as a Solver. The deadline for applications is 31 October 2024.
For more information and to apply, click here.
S3E Reverse: Zenith and Inteligg unite to improve efficiency in energy consumption
Through the S3E Reverse program, energy provider Zenith and Greek startup Inteligg are forging a transformative partnership to enhance the forecasting capabilities of energy demand for more efficient and sustainable environmental impact assessments.
The S3E Reverse program is part of the South3E EU-funded project, consisting of a dedicated brokerage program connecting corporate challenges with deep tech solutions developed by startups from Southern Europe. This program is built on a successful open innovation methodology designed to foster collaboration and drive technological advancement.
The business match between Zenith and Inteligg
Zenith, considered the the No 1 supplier of natural gas and electricity in Greece, was facing the complex challenge of developing advanced power and gas demand forecasting algorithms for residential and commercial users. By joining the S3E Reverse program as a 'Challenger, Zenith found an ideal collaborator in Inteligg, a pioneering Greek startup specialised in delivering intelligent, innovative, sustainable solutions for Smart Cities and communities.
The assigned S3E Deep Tech broker, Dimitris Papageorgiou, played an essential role in making this match happen, finding the perfect solution to the challenge. Dimitris is the Innovation Funding Manager at TVP Solar SA, Switzerland, a manufacturer of high-vacuum flat solar thermal panels and a provider of turn-key solutions for industrial and district heating and cooling applications.
Under the South3E EU-funded innovation action, this collaboration fosters Inteligg's Building Energy Management Systems (BEMS) to help Zenith enhance its forecasting capabilities on energy demand. By collecting historical energy demand data from smart meters and additional sensors, Inteligg's technology enables precise monitoring and management of energy consumption. Zenith will integrate this system within its residential and corporate customer bases, potentially exploring demand-side heating and cooling management within energy communities.
Mutual benefits and industry impact
This partnership exemplifies the power of collaboration and innovation in tackling energy industry challenges as Zenith leverages Inteligg's advanced technology to achieve its forecasting goals more efficiently and accurately. This synergy enhances Zenith's operational capabilities and highlights the potential for emerging startups to drive progress within established companies.
Inteligg's portfolio incorporates cloud-based Building Energy Management Systems (BEMS), smart thermostats and turnkey building installations. The founding team, composed of mechanical, electrical, aerospace and computer engineers, brings extensive experience in national and international research projects. Their work spans energy efficiency, renewable energy, sustainable mobility, environmental impact assessment and ICT solutions.
While Zenith benefits from improved forecasting accuracy and operational efficiency, Inteligg gains a significant platform to showcase its solutions and expand its market presence.
Regarding the industry impact, the implementation of energy efficiency solutions encourages sustainable behaviours among residents and businesses. Real-time energy monitoring and management systems provide users with insights into their energy consumption patterns, promoting awareness and encouraging more sustainable practices.
To conclude, their work on energy efficiency solutions is essential to the sustainability of smart cities. They offer an alternative approach to enhancing urban living, conserving the environment, boosting the economy, and fostering a culture of sustainability. As cities worldwide continue to grow and evolve, adopting energy-efficient technologies will be crucial in building resilient, sustainable and thriving urban communities.
A call to innovators: apply to be a Solver and join the Deep Tech revolution!
This partnership between Sogrape and Agritrack is a testament to the power of collaboration and innovation in addressing industry challenges. By leveraging Agritrack’s advanced technology, Sogrape is poised to enhance its supply chain transparency and ensure its products’ highest standards of quality and authenticity.
We invite all Deep Tech startups and SMEs based in Southern Europe to explore our challenges and join the S3E Reverse program as a Solver. The deadline for applications is 31 October 2024.
For more information and to apply, click here.
Let’s revolutionize the Southern European Deep Tech ecosystem together!
S3E Start showcases the innovative deep tech projects from Southern Europe in a magnificent Open Day in Lisbon
On June 18th, the S3E team celebrated a hybrid Open Day in Lisbon to showcase the , the program that provides expert support to research teams and technology transfer officers in Southern Europe.
Watch the summary video!
https://youtu.be/AvonR5QPkxA
The S3E Start Open Day took place at the iconic BBVA Tivoli Theatre with approximately 60 people attending in person. The full 3-hour event was also livestreamed, reaching over 230 participants from across the European deep tech ecosystem who registered to join remotely. The audience included member companies from HiSeedTech (the S3E team who facilitated the event), international investors, business angels, innovation hubs, higher education representatives, corporates, researchers and deep tech enthusiasts.
The event kicked-off with a warm welcome from Mario Freire, President of the Board of HiSeedTech, which is the coordinator of the S3E – Southern European Entrepreneurship Engine project. Freire's introduction was followed by Daniel Gassman, Head of Sector Ecosystems and Prizes at the European Innovation Council and SMEs Executive Agency (EISMEA), who joined online to introduce the context where S3E stands, highlighting the main objectives of the New European Agenda and how the S3E project is working towards creating long-lasting impact by supporting deep tech research, innovation and entrepreneurship in Southern Europe.
Pedro Vilarinho, technical coordinator of the S3E initiative, took the stage to provide an overview of the S3E Start program, reflecting on its goals, milestones, and the remarkable progress made during the second cohort of research teams who joined the program in January. In the 2024 edition, S3E Start has supported 14 research teams in total, involving more than 60 researchers and 10 technology transfer officers from 12 different countries. The program also counted on the support of 30 mentors pooled from our community of S3E Experts.
The whole session, hosted by Roger Debo, consisted on 14 pitches from the finalist research teams, alternating onsite and online presentations, where the researchers explained the purpose and progress of their inspiring and significant work. Debo also delivered an inspirational talk on deep tech entrepreneurship.
The S3E Start Open Day showcased the remarkable potential of innovation in deep tech in Southern Europe, marking the culmination of 20 weeks of diligent effort by the 14 research teams participating in the S3E Start program. A huge congratulations to everyone involved for making this such a successful event!
The full recording of the S3E Start Open Day is now available to watch here.
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S3E Reverse: Sogrape and Agritrack working together to revolutionize wine industry transparency
In a groundbreaking development for the wine industry, Sogrape, a leading wine producer from Portugal with a global reach, has successfully found its perfect challenge 'Solver' in the Greek startup Agritrack, thanks to S3E Reverse. This partnership promises to increase transparency and accountability in the wine supply chain, setting a new standard for the industry.
The S3E Reverse program is part of the South3E EU-funded project, consisting of a dedicated brokerage program connecting corporate challenges with deep tech solutions developed by startups from Southern Europe. This program is built on a successful open innovation methodology designed to foster collaboration and drive technological advancement.
The business match between Sogrape and Agritrack
The story of how Sogrape and Agritrack came together is one of innovation, vision and the power of collaborative platforms. It all began with the S3E Reverse Open Call, an initiative designed to connect large organizations with innovative solutions from SMEs and scale-ups across Southern Europe. This open call invites participants to submit their ideas and products to address specific challenges posed by large corporations and boost cross-border business opportunities.
Sogrape has long been committed to excellence, sustainability and quality in its wine production. However the complexity of the supply chain presented challenges in maintaining the highest standards of transparency and accountability, and Sogrape had been seeking a robust solution to it. The need was clear: a system that could meticulously track every product and material from the vineyard to the consumer’s table. When Sogrape presented this challenge, it became one of the many critical problems awaiting innovative solutions in the S3E Reverse Open Call.
The power of the S3E Reverse program
Through the S3E Reverse program, Agritrack was not just selected but also provided with a customized innovation support program tailored to their needs. It included one-on-one business coaching and technology brokerage services, ensuring that Agritrack could seamlessly integrate its solution with Sogrape’s operations and maximize its impact. The Reverse Broker assigned to this match is José Eduardo Amorim de Sousa, Senior Executive at Enline Energy Solutions, a leading Portuguese provider of innovative digital twin technology and data-driven solutions for the energy sector.
Agritrack's cutting-edge solution
Agritrack, an innovator in supply chain technology, offers a state-of-the-art platform featuring an immutable ledger and a tamper-proof record that provides permanent traceability from farm to fork. This technology ensures that every transaction and movement within the supply chain is recorded authentically, mitigating food fraud and counterfeiting risks.
Agritrack's platform goes beyond basic traceability. It also records critical environmental factors such as humidity and temperature, which are essential for maintaining wine quality. By capturing this data, Agritrack ensures that the wine's journey from the vineyard to the consumer is meticulously monitored and preserved.
The partnership between Sogrape and Agritrack exemplifies the power of innovation and collaboration in addressing industry challenges. By leveraging Agritrack's advanced traceability platform, Sogrape is setting new standards for transparency and quality in the wine industry. This collaboration not only benefits Sogrape and its customers but also paves the way for other companies to adopt similar solutions, fostering a more transparent and accountable supply chain across the food and beverage sector.
One of the standout features of Agritrack's platform is its integration of Machine Learning (ML). The platform builds digital twins of the supply chain processes by analysing past production cycles. This advanced analysis allows Sogrape to better assess and predict quality outcomes, optimize production methods, and enhance overall efficiency. The use of ML not only improves current operations but also provides valuable insights for future planning and innovation.
A call to innovators. Apply to be a Solver, join the Deep Tech revolution!
This partnership between Sogrape and Agritrack is a testament to the power of collaboration and innovation in addressing industry challenges. By leveraging Agritrack's advanced technology, Sogrape is poised to enhance its supply chain transparency and ensure its products' highest standards of quality and authenticity.
We invite all forward-thinking startups and SMEs to seize this opportunity. Apply to be a Solver and become part of a dynamic network driving the future of industry innovation. Explore our challenges and join the S3E Reverse program to make a lasting impact.
South3E has available the Open Call #2 for scale-ups and SMEs from Southern Europe to connect with corporate challenges. Innovators with groundbreaking solutions are invited to apply and become part of this transformative journey. The deadline for applications is 31 October 2024.
For more information and to apply, click here.
Let's revolutionize the Southern European Deep Tech ecosystem together!
We look forward to creating long-lasting collaborations!
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S3E Charge 2024 | Meet the startup: Nanomik Biotechnology
Nanomik Biotechnology is one of the 17 startups selected to participate in the 2024 edition of S3E Charge, the EU-funded accelerator program fostering deep tech innovation and entrepreneurship in Southern Europe.
We spoke with Arda Örçen, co-founder and CTO at Nanomik, to learn more about how this startup based in Istanbul is developing biotechnology solutions for multiple industries — from agriculture all the way to construction.
https://youtu.be/-Y_KFAuq2G8
Hi Arda! Tell us about Nanomik, the mission behind the business and the technology you’ve developed.
Nanomik Biotechnology is based in Istanbul, Türkiye, and it was founded in 2017. We are specialists in developing microcapsulation technology which enables the use of biological molecules to as biopesticide or bioprotector in various industries.
We started operating within the agriculture industry, offering a crop protection product, and we have now grown our product portfolio across the whole food supply chain, and we are even present in the construction industry. So, essentially, we consider Nanomik as the producer of advanced biologics for various industries.
Why have you decided to enrol in the S3E Charge accelerator?
From our previous experience, the Mediterranean region is very important from different aspects. From agricultural production to the whole food supply chain, it's very productive and tend to use biologics more and more.
The Mediterranean region and the whole of Southern Europe is very important for us, as a key market, which is why we chose to enter the S3E Charge accelerator program.
Also, as a deep tech company reaching a scaleup level, we are now in need of direct solutions and guidance, like IP protection and funding support, and this program can help us progress in each of these subjects.
What are the key ambitions for Nanomik? Where would you like to see the business in 5 years?
We want to penetrate into the global market with our technologies. For my team and I, the main focus is to establish networks with European and US partners, and to continue leveraging our existing geographical advantage towards the Middle East.
So, once we manage to integrate our solutions across different industries in all these regions, we want to create our large scale production facility with global reach — that's our ultimate vision.
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S3E Charge 2024 | Meet the startup: Rosey's Mark
Rosey's Mark is one of the 17 startups selected to participate in the 2024 edition of S3E Charge, the EU-funded accelerator program fostering deep tech innovation and entrepreneurship in Southern Europe.
We spoke with the co-founders of Rosey's Mark, Rositsa Paunova and Ina Abadjieva, to learn more about how this Bulgarian startup is combining scientific innovation and culinary art to develop rose-based edible and functional products that heal from within.
https://youtu.be/gPPHxlW7QF8?feature=shared
Hi Rositsa and Ina! Tell us about Rosey's Mark, the mission behind the business and the technology you’ve developed.
Rositsa: Ina and I are sisters, and we've been working with the Bulgarian oil-bearing rose for more than 10 years. We're focused on the less known edible side of this flower, which is considered a national symbol of Bulgaria; we develop functional foods that use the powerful elements of this rose as a base, combining its interesting floral taste with its medical herbal characteristics.
Ina: We are officially classified as an innovative enterprise, as all our work relies on innovation. To create our products, we apply the latest scientific research available that corroborate the health benefits of Rosa Damascena.
How would you describe your entrepreneurship journey so far?
Ina: We've been on quite a long journey! We started when we were just graduating from our masters degree, and we thought that in five years we would be rocking the world... but now we know that to build a successful company it takes much longer than that, especially when you're starting from zero, developing a new market and acquiring all the knowledge you need.
Our journey has been filled with lots of learning and continuous development. We've progressed hugely since we started 10 years ago, but there's still a lot more to experience and conquer!
Why have you decided to enrol in the S3E Charge accelerator?
Rositsa: Right now, our business is in its second stage. After finishing our maternity leaves, we are now back stronger and with much more knowledge. Our products have been very well received in different markets; we sell mainly in Bulgaria, but also in Japan and Saudi Arabia, so now it's time to scale up and continue growing internationally, which is why this acceleration program is very important for us.
What are the key ambitions for Rosey's Mark? Where would you like to see the business in 5 years?
Rositsa: In the next 5 years years, we see our business blooming, literally! As we said, we want to grow our market reach and also enter the e-commerce space, which should also help with our international development goals.
Ina: When somebody asks me "how do you imagine your business in 5 years", a few milestones come to mind right away; first, we will be already over 1 million euro revenue, and second we will have spread our rose power products to more than 100,000 people, helping them feel better every day.
Drawing from your own experience, what piece of advice would you share with a fellow entrepreneur looking to launch their own startup?
Ina: My advice is to think wisely about two things: first, the motivation behind the initiative. What keeps you moving? Why are you doing this? Is your drive strong enough? Because there are going to be obstacles along the way, and your motivation is what will get you through them.
My second piece of advice is to think about your audience, your clients. Is your project, your solution truly valuable for them? Does it really help them? Make sure you're creating something with value for people, so that way you will have enough clients to develop a sustainable business.