In order to better respond to changing customer needs, many start-ups evolve during their development and their confrontation with their market. They “pivot” in the language of entrepreneurship.
This “pivot” translates the idea of an evolution around a central axis, which can be a technology, a product or a more general vocation. The evolution often concerns the economic model, with for example the passage from a model based on the sale of a product (a sensor for example) to the provision of services (the exploitation of associated data for example), as illustrated by the 3 examples below. However, the pivot can be in the model of marketing, financing, etc.
Pivoting is often a necessity for entrepreneurs. The agility of start-ups, and the need to quickly confront their market to crystallize their offer also makes these changes faster and more common for them.
Recently, the health crisis has inspired new offers and pivots. Some start-ups have made part of their offers free of charge, used their production means to manufacture gel or masks, set up new support services, or upgraded their technology to integrate the wearing of masks in image analysis …
Here are three examples of start-ups in our ecosystem that have transformed their business model, imagined new use cases, sometimes enabling them to monetize a technology. Discover the journey of Kooping, Jooxter and Marmelade.
Find the video pitches here: https://cutt.ly/Slzi2Nr
The videos are in french but our startups speak english and would love to discuss, don’t hesistate to reach out