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Champion Breakfast with DDB - TechHub Riga slides may 2014

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Andris K. Berzins telling about TechHub, startup culture in Latvia and it's growth.

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Champion Breakfast with DDB - TechHub Riga slides may 2014

  1. 1. Silicon Valley in Riga? Innovations at TechHub Andris K. Berzins @akberzins
  2. 2. Who is Andris K. Berzins?  Stanford Business School  Bain & Company - strategy consulting  AeroScout – real-time location solutions  Livebookings – online restaurant reservations  Amooz – digital loyalty solution for restaurants  Reach.ly – behavioural analytics for e-commerce  Creandum – Stockholm-based venture capital fund  BuzzTale – Instagram meets Storify for enterprises
  3. 3. What is TechHub Riga?  Co-working space for “product oriented” startups  30+ startup teams, 75+ residents  First intl. branch of TechHub London  Startup event organiser  Goal to help create the environment for the “Skype of Latvia” to emerge  Non-profit foundation  Run by entrepreneurs  Funded by membership fees, some sponsorship and events  Moving to new space double the size!
  4. 4. What is a Startup? A startup is an organization in search of a repeatable and scalable business model - Steve Blank
  5. 5. Why do startups innovate effectively?  Take risks.  Fail.  Take more risks.  Fail.  Take even more risks.  Usually die.  Sometimes succeed…..
  6. 6. Why do startups innovate effectively?  Take risks.  Fail.  Take more risks.  Fail.  Take even more risks.  Usually die.  Sometimes succeed….. if they focus on what they are good at and learn from their mistakes.
  7. 7. Why can corporates learn from startups?  Take risks.  Embrace and celebrate failure (“it is better to ask for forgiveness than to ask for permission”).  More small experiments than grand plans (the Post-it story)  Give innovators room to experiment and the time to focus.  Pick up what works and scale it.
  8. 8. Questions? @techhubriga @akberzins

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