The Startup Foundation offers a comprehensive, holistic approach to addressing the needs of young entrepreneurs, while at the same time developing a national community supporting the sector as a whole.
The support for startup companies differs according to their development phase. A successful transition from one phase into another does not yet ensure success in the new phase. This makes it necessary to have a permanent and phase-appropriate support for startup companies, with suitable programmes in all individual development phases. The essential parts of the ecosystem are quality programmes integrated on the national level that help entrepreneurial talents solve business and technical challenges in different development phases.
- Talent motivation and activation – The first critical point is identifying and engaging talent. It is necessary for suitable programmes to spread current knowledge and paths of career success, values of innovation and entrepreneurial drive, general creativity etc., with the purpose of providing the most competent individuals with the insight into all possibilities that they have on the domestic market. In the phase of talent motivation and activation, it is not only crucial to identify competent individuals but also to systematically help talents develop their ideas and join suitable programmes that enable the implementation of business ambitions. More broadly considered, it is important to adjust the entire education system, from ECD-level to university, so that it will be able to encourage creativity and entrepreneurial drive.
- Startup companies – The second critical point is founding the company and starting the validated learning process, i.e. development (search) of the right business model and setting up a flexible organisation of the company. In this phase, the mortality rate of companies is extremely high, as individuals discover that the path to first customers isn’t that easy and that leading a young startup company is a very demanding career task. There are a lot of risks that prevent the company from succeeding on the market. This is why it is necessary for startup entrepreneurs to have a suitable environment of similarly thinking people, less bureaucracy, current entrepreneurship knowledge, appropriate regulations on the labour market and suitable systems for the protection of intellectual property as well as consultants and mentors who help them through the most critical times of the growth of a young company. In doing so, connections play a crucial role, since they ensure quick adaptability and learning. Connections with the market, connections with mentors, connections in the local support ecosystem and connections with international entrepreneurship ecosystems are those that ensure feedback information to startup companies about their newly developed products and services and about their business models.