02 Jun Concept selling new technology to enterprises, In conversation with Rangarajan, founder Stezy
Concept selling new technology to enterprises
CIE brings to our Deeptech community,
Fire Up Founder Insights series 7th edition, hosted by our COO, Mr. Ramesh Loganathan. The series is brought to you as a part of Startup Gyan Blog series by CIE-IIITH where we feature our founders and talk about their Startup status and the journey so far through conversation on specific topics useful for other Deeptech startups and the community at large.
In Conversation with Rangarajan, founder Stezy:
“There was a Blockchain Hype in 2017, which is completely reduced now and people started to understand what it actually is”
Started in 2018, with training programs on Blockchain for corporate execs and the experience of working on different blockchain systems, eventually building solutions for Enterprises. Stezy is a DIY blockchain platform that helps companies to integrate and deploy blockchain solution’s with ease by utilising DIY application and smart contract builder.
“The initial 6-8 months gone into gathering feedbacks because when it is a new tech solution, it is a continuous feedback cycle that you have to go through”
With all the feedback and problem statements, the Startup went for building the ecosystem tools, taking a platform approach. As we know, any new tech product is as good as the complementary system existing around it, platform approach is now used by nearly every tech Startup and tech giants.
Selling the Tech:
- Due diligence and use-case identification
- 5 PoCs and standalone applications to build the trust and credibility
- Made connects with corporates through the training program
- Showcased use-cases coherent to theirs(Enterprise’s)
- Avoided forced-selling, built the curiosity around the need through a questionnaire
- Handheld certain potential clients to make them understand and see the value-addition
“If the value is apparent, word-of-mouth takes off and works in your favour”
- Focussed on 80% of target market, built top 5-6 use cases
- Identified their(Enterprise’s) existing solutions
- Explored options for monetising, once the use-cases are defined and built
- Reached out for connections and assistance from the advisory board
- Been a part of the process of your clients, especially service companies
The growth Hack tip:
Never get married to the idea and stick; move fast and keep pivoting.
Watch the complete interview for use cases of the product and food for thought!
Keep watching this space for more under Fire Up Series.
Stay safe and sound!
– Sunita Kumari, Team CIE