The Garage. Ever since Hewlett-Packard's foundation in Silicon Valley in 1938, many startups have started their business ventures by working out of their founder's garage. The founders of tech giants of today, such as Bill Gates, Jeff Bezos, and Larry Page know all too well how hard it is to endure the challenges on the path to becoming a profitable company and achieving the ultimate goal of listing their company on the stock exchange.
While startup life has been widely romanticized on television and in the media, what is often not shown is the great amount of sacrifice, stress, and hustle that startup founders need to invest in their ideas to become successful. Despite Europe making great strives to improve access to capital, for startups, the added stress of generating MVP or PoC, and attracting venture impede bringing their ideas to market.
Rapid Application Development - What it is and what are the benefits for startups?
So, time is money, and one solution that saves time (and therefore, money) is Rapid Application Development (RAD) platforms. As their name says, they are ideal platforms for startups because of their premade modules that are ready to use for any type of application. Reduced long-term costs, use of cutting-edge software development methodologies, quality technology stack, and proper documentation handling– it's something inwrought in full-code RAD platform called FIYU.
Shorter time to market, more time and money for business domain development, standardized and accelerated development, faster onboarding of new developers, sharing knowledge, skills, and best practices between teams, and maintainability. FIYU, which tends to use proven technologies in its operational practices has numerous benefits. Also, it helps to mention that with FIYU, there is no vendor lock-in, which is a great benefit for startups because there is no substantial expenses or business disruption in case the company decides to switch to another vendor.
European Startup Landscape
The challenge of accessing capital is one of the driving factors for why the startup scene is not bigger in Europe. The Inability for startups to overcome the initial capital raising phase, amongst other challenges, kills startups and ultimately stunts innovation on the European continent. Lack of capital translates to a lack of human capital, lack of technical knowledge which in turn blocks a startup to launch its solutions on the market. The threshold for startup success in Europe is much higher. This means that the startups that do make it to market in Europe are more likely to become successful.
Our Client's Story
An example of a startup from Croatia which experienced the classic startup difficulties is the company Flaster. This marketing startup has recently garnered more recognition both in the digital space and amongst the startup community. Flaster's business model is based on OOH advertising – they operate a cars fleet with glued advertisements of their clients. The platform they intended to develop is supposed to be used to track driving sessions in busy city streets while gathering useful data for further analysis.
Flaster paid a substantial amount of money to create an MVP which at the end of the day was unscalable. It was impossible to add some features to it, and the absence of multi-tenant components made huge problems. The half-baked project, zero possibility for support, missing documentation, dependency on the company that developed MVP, aka. vendor lock-in - things were messy. They were looking for going to the market, but since they were stuck, finances stopped. After that, they needed help, so they started a search for a reliable partner – and that's how they got to FIYU.
As Rapid Application Development platforms are designed for companies who need to create applications rapidly, Flaster got in contact with the FIYU team and that's when things started to look better for Flaster.
Thanks to FIYU, Flaster efficiently brought their product to market, on a more profitable and financially sustainable path. Under FIYU, their virtual infrastructure was developed:
- an omnichannel platform in a system of OOH advertising through which Flaster or their client can create an advertising campaign, assign it to a specific driver or car fleet, track heat map, and other reporting variables.
- mobile app (android and iOS) which registers vehicle drivers and monitors their driving sessions, prepares for payment, assesses and monitors the condition of vehicles, drivers, and more.
The whole system functions through an app that gathers detailed intelligence regarding Flaster car fleet and analyses results based on OOH advertising. Based on analyzed data, targeted remarketing is carried out on digital platforms aimed at people who have been in contact with Flaster vehicles.
That's why FIYU as a full-code RAD platform could be a solution of choice for any startup facing common startup challenges (time to market, financing, lack of staff and skills, etc.). Complex, high-level software architecture on which FIYU is based, advanced business and technology features, together with FIYU Warp Stack (Methodologies, Infrastructure Components, and Software Platform) and core modules, makes FIYU your desired platform for the development of quality software products.
If you are a startup facing similar problems, feel free to contact us, or explore FIYU through the product sheet.