Execution is everything; don’t dwell on ideas for too long

Meet predict.io at the startupnight in berlin

Please introduce yourself and your Start-up predict.io to our readers!How did you get the idea to your startup? Why did you decide to start a business? How does your company has developed since it was founded?
In 2012 we fell in love with the idea of using smartphones sensors to solve issues in real life.
It all started with parking. How about we use GPS to auto-save where you parked your car? This was before Activity APIs existed. So we did that. People then wanted us to predict vacating parking spots. So we got to work again. Then in 2014 we made this our livelihood.
Early this year, we decide to go one step further by building the easiest, fastest and most accurate, battery friendly, Activity API across platforms.Now you are wondering how can that be used?
Well …. understanding what an app user is doing right now enables a wide range of real-time features like triggering sales with targeted messaging, supporting transactional processes, improve social interaction, or providing better customer service…

What was the biggest challenge in starting your business?
We are building a product with high technological ambition. Sometimes changes on operating system level have a big impact on our performance. Making sure that we provide a normalized performance to our customers across operating systems is possibly the biggest challenge.

What is the USP of your Start-up?
Businesses want to engage users in the right moment; this includes the right time, the right place, and the right context. Modern Smartphones produce almost a gigabyte of sensor data every hour – which is mostly unused today. Hundreds of phone models across different operating systems have different sensor outputs. Solutions like iBeacons, Geofencing and NFC have severe disadvantages like cost, scalability and accuracy. predict.io extracts actionable events out of real-time sensor data and makes it easy to operate.

Who is the target audience?
The SDK can be used by any app developer that uses location based services. Core verticals are mobility, hospitality, retail, lifestyle and banking. Later we are targeting any developer that uses push notifications.

Why do you apply for the startupnight in Berlin?
The Startupnight is one of the main events for the startup scene in Berlin and signifies a great moment to present our company and technology to many local and international visitors. The motto this year “Meet Investors. Meet Corporates. Scale your Business. Be International” suits exactly with what we are looking for.

You are one of few startup companies at the startupnight in berlin. How motivating is it for you and what do you expect from the event?
This year will be the third time we are taking part of this event. During the past two years we present how our technology could solve parking issues. This time we will present how our technology can benefit many other verticals. We are excited to have many inspiring conversations with visitors from all trades.

Where do you see yourself in five years?
Our mission statement is “Making sense of sensors”. Your smartphone has 13 sensors embedded. But there are many more sensors in the world. In fact they surround you. In your thermostat, your smart light bulbs, your car and even your running shoes. We want to use more sensors data to provide even better context predictions.

What 3 tips would you give other Start-up founders on the way?
Execution is everything; don’t dwell on ideas for too long. Go out and validate with as many people as you can. There are very few ideas that justify secrecy. Value is created in executing a great idea. Not in having an idea.
It is always harder than you think; building a product, getting customers, convincing investors or hiring great people. Yes, you think you are using realistic forecasts. But no, it is still harder than you think. Calculate with enough cash reach otherwise you’ll dry out too fast.
Follow your passion; you’ll spend most of your time awake with your business. You might lose hobbies, health or even relationships in the process of building a company. It should better be worth it. And I am not talking about money. But satisfaction. If you follow your passion, likelihood is higher that your time investment is good for you.

More information you will find here

Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.

Sabine Elsässer

Sabine Elsässer is founder and chief editor of the StartupValleyNews Magazine. She started her career at several international direct sale companys. Since 2007 she works main time as a journalist. While that time she learned more about the Startup Scene, what made her start her own Startup Magazine the StartupValleyNews.

Leave a Reply