The ecological problems of the planet are uncountable. We are all affected or will be affected by them in the near future. There are plenty of resources, organisations and funds which are searching for working solutions. The only missing piece of the puzzle are the motivated and perspective entrepreneurs who are ready to step ahead and act methodically in order to find solutions to these problems. The green startups are a subject that will be on the top of the priority lists of Europe and the whole world in the next key for climate crisis solution fifty years. Finding sustainable actions is needed and highly appreciated and the most suitable way for reaching to them seems to be the startup. There are ways, funds, support! What is still needed is only determined and dedicated work.

The startup is the specific business model which corresponds to the needs of the rushed and oversaturated with decisions modern market. The startup is a young company which differs from the traditional business with its approach to the product and the clients. The standard model of entering the market is by creating a product and followed by forced sales to all possible clients. In comparison with it, the startup approach is much more methodical and scientifically proved.

Before creating a prototype, the founders conduct serious research not only on the market, but on the problems of the desired client. By organising interviews and tests, the advantages and the disadvantages of the product are being revealed and thus changes are made before the product is finalised. The scientific element of the startup comes from the method of hypothesis and testing. Each segment of the product is a suggestion of the clients’ needs. This suggestion is being tested by collecting data, then corrections or add-ins are done in order to strengthen the product’s utility. In this way, the startup entrepreneurs are always ready to experiment and make changes of the product until they reach the so called “problem-solution fit”.

Once it is confirmed that the product solves a meaningful problem, and that it has a sufficient percentage of customers ready to pay for it, the startup enters in a new phase of development. It is dedicated to ensuring budget and specialists aiming to shake up and dominate the market niche. This phase requires serious calculation, strategy and often serious budget. The final aim of the second phase is reaching the “product-market fit”, which means that the startup is soon expected to become a leader in its field.

There are plenty of definitions and ways to interpret the startups, which have variations according to the field of activity. One thing is certain – startups represent the most cost-effective and efficient way to approach a disruptive business idea. Often it takes only great will and analytical business thinking to set up a startup. Once a minimum of the product is ready (prototype/MVP), and the main hypotheses about its utility for the clients are confirmed, there are plenty of ways to fundraise and scale up. This is a much safer way for making business, compared to the standard approach, represented by the model “I have an excellent idea of a product and I will invest 10K and then I will sell it.” In contrast, the startup approach is the exact opposite. “I have an excellent idea. Let me first see to whom, how and for how much I can sell it, then I will make the product”. This allows making iterations until the result is truly meaningful and solves an excising problem.

If you have a green idea, concerning such an essential problem, you can take part in the first of its kind startup camp for young people in Bulgaria. The participation is free of charge. Applying for GreenUp is open until 15 July 2021 - https://greenup.bgzerowaste.com/.

Written by: Ivaylo Tsochev

Sources: https://www.startupcommons.org/what-is-a-startup.html?fbclid=IwAR3MkMN3oOj0Ec8vhJWwXzvg0leJqEu5ThGb97-0X4eT80JjnaAylxdgGng