Startups and startup culture just keep growing our interest and the pace of technological disruption has only escalated the fascination. Amazing news about historical acquisitions of startups, like Wolt joining forces with DoorDash in November 2021 as one of the largest Finnish mergers and acquisitions ever pass most of our criteria as noteworthy information, news. We are affected by the opportunities that these unique and brave companies have built and achieved.
Behind all the potential and wow-effect that startups entail, we might forget to pay attention to the fact that startup failure still is just as much involved in the startup scenery as earlier. Around 90 % of them still fail…
Now the reasons behind this are manifold. According to CB Insights startup failure -entrepreneurs identify market related causes in 89 % of the failures. No market need tops the statistics as the biggest single reason for failure. Why is commercialisation of innovations so hard? And how can all of us help them?
We started Nordic Innovation Shop to build a stage, a channel, and a home for products and services that are yet new to the greater audience. To launch a new product requires so much more than “just” a great idea! The amount of work that these teams have done to solve some of our existing and future problems is breathtaking! It is both costly and time consuming to bring new products to the market.
Every sign of demand and interest is tremendously valuable for these startup companies seeking to change our existing routines & habits and create smarter solutions.
Show your startup support on social networks
By now, we all know that marketing is all about algorithms. You can grow your visibility with good content, money, and with the help of your network. For new products, lacking both recognizable brand and a big marketing budget, every poke of algorithms is a big PLUS! So even if you aren’t ready to buy the product, every interaction gives hope and support to those amazingly brave people working with these new lifehacks and innovations.
If you were brave enough to be among the early adaptors, understand that the process of product development is continuous. In the process of development and product-market fit all customer experience should be in the center. If you have any feedback on any point of the customer journey, you will help the innovators and developers by providing them your information. In the startup scenery open innovation and transparency is the essence of success.
Tell about startups and their products in your network
Talk about these courageous teams and their journey. Mention them in day-to-day conversations and show your support in various situations. Every reference is an opportunity for these hungry and courageous innovators that seek to raise awareness for their mission.
Shortlist for how to help us tackle that 90 % failure rate:
- Show your support on social networks
- Buy an innovation for yourself (or as a present)
- Give feedback about anything and everything
- Recommend the products and services to your friends
- Talk about these companies, teams, and individuals
- Connect with them and their network
- Tell Nordic Innovation Shop who we should represent and help 😁
Finally, have a look at the innovations at Nordic Innovation Shop 👇
At Nordic Innovation shop we have grouped some of them in a few categories.
If you’re interested in improving your health, have a look at these health innovations.
The home innovations surprise you with both materials and design.
P.S. New products like these are great presents, since they stand out as smart, convenient and different ;)