think different and change the business model to grow
INNOtalks has also arrived in Venice: the last 23th of March Ecipa ran the 45-minute meeting that involves entrepreneurs, marketing experts and digital disciplines who tell their experience during breakfast or an aperitif.
Obviously, being in Venice, we opted for the aperitif option: we invited two entrepreneurs, Valentina Beghetto and Riccardo Samiolo, who brought their innovative startup to breakeven in less than 10 months.
The crossing team works on a substance, a binder component, which allows to modify some types of materials or to create a puzzle of components without leaving traces, in a non-toxic and more lasting way than other similar products on the market.
Crossing is working on many products (leather tanning, paints, packaging, cellulose, hair dyes …) and has 5 patents in its assets, to date.
In summary, the strengths are:
- an extremely low cost compared to its competitors on the market,
- it is environmentally sustainable
- more durable than similar products.
But this is not enough to make the difference.
They bid on people, on the business network, on the specialization of the partners they work with.
Just to make it clear, Riccardo told us that when he started working as a business angel for Crossing, he discovered that a kg of material takes between 9 and 14 years to produce an income, with a cost between 2 and 5 million euros.
How to do then? Use a business model that is common in Veneto: the corporate network.
The know how of chemists was joined to potential customers and companies who were willing to invest in the product, developing a partnership agreement on the use of the product.
This kind of model allows to enter in a liquid reality, where consultants, external skills and companies are combined. There is an actual exchange between individuals and businesses that allows to speed up the whole process. The company reached the breakeven point in just 10 months and now works with 9 researchers and many other consultants.