Rain Rannu - Fortumo - Stanford - Feb 28 2011

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  • 1. Entrepreneuship and startups in Estonia Rain Rannu Stanford University February 28, 2011Monday, February 28, 2011
  • 2. Rain Rannu • 30 years old • BA & MBA from Tartu University, Estonia • Entrepreneur for the past 11 yearsMonday, February 28, 2011
  • 3. Mobile penetration exceeds Internet penetration More people can use m-services than e-services More people can use m-services than e-services Rain Rannu, Mobi SolutionsMonday, February 28, 2011
  • 4. Computers are tied to a place, mobile devices are always with the user M-services can be used from more places than e-servicesMonday, February 28, 2011
  • 5. Monday, February 28, 2011
  • 6. Adding mobile payments to your app or game should be as easy (and cheap) as creating a blog or a homepageMonday, February 28, 2011
  • 7. 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 • ProfitableMonday, February 28, 2011
  • 8. Monday, February 28, 2011
  • 9. Monday, February 28, 2011
  • 10. Monday, February 28, 2011
  • 11. Garage48.org From idea to service in 48 hours!Monday, February 28, 2011
  • 12. Monday, February 28, 2011
  • 13. Monday, February 28, 2011
  • 14. Why I’m in Silicon Valley?Monday, February 28, 2011
  • 15. 2001Monday, February 28, 2011
  • 16. Monday, February 28, 2011
  • 17. Casual Connect Europe sponsors list from http://europe.casualconnect,orgMonday, February 28, 2011
  • 18. HiringMonday, February 28, 2011
  • 19. What we’ve learned?Monday, February 28, 2011
  • 20. You can’t outsource or delegate business development of a startupMonday, February 28, 2011
  • 21. Presence is not office space or local company... it’s being hereMonday, February 28, 2011
  • 22. Everything takes more time than expectedMonday, February 28, 2011
  • 23. Monday, February 28, 2011
  • 24. Northern EuropeMonday, February 28, 2011
  • 25. 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
  • 26. Monday, February 28, 2011
  • 27. Lack of (VC) funding makes Estonian startups focus on profitability from early onMonday, February 28, 2011
  • 28. Why is Silicon Valley better than Estonia?Monday, February 28, 2011
  • 29. Customers InvestorsMonday, February 28, 2011
  • 30. EventsMonday, February 28, 2011
  • 31. No -10F weather in February!Monday, February 28, 2011
  • 32. Why is Estonia better than Silicon Valley?Monday, February 28, 2011
  • 33. Tiny domestic market, makes you look to international markets right from the startMonday, February 28, 2011
  • 34. Less competition for talent, more loyal employeesMonday, February 28, 2011
  • 35. Cost of livingMonday, February 28, 2011
  • 36. No traffic jams!Monday, February 28, 2011
  • 37. Challenges for Estonian statups:Monday, February 28, 2011
  • 38. Monday, February 28, 2011
  • 39. Image: http://www.theexitstore.comMonday, February 28, 2011
  • 40. Image: http://www.gettyimages.comMonday, February 28, 2011
  • 41. Thank you! rain.rannu@gmail.com http://twitter.com/rainrannu http://fortumo.com http://garage48.orgMonday, February 28, 2011