Only 1% of start-ups achieve a turnover of 10 million dollars, while 30% fail in their first year. But success stories such as Crocs, GoPro and Nixon show how networks and industry events can make the difference. They provide access to funding, market knowledge and valuable partnerships. Find out how your start-up can benefit from these success strategies!
All insights at a glance:
- Funding Opportunities
- Exposure to the Market
- Guidance and Access to Resources
- Business Referrals and Partnerships
- Accelerating growth through innovative practices
- Guide to Leveraging Industry Events
- Takeaways for Early-Stage Startups
The power of networking for start-ups
Startups need nurturing, which comes from operating in a supportive ecosystem. A critical component of this is establishing valuable connections that can help thrive in an interconnected world.
Here’s why your startup needs the boost offered by networking and industry events:
Start-up success: strategies for building, scaling and taking off
Top 7 start-up fails and what you can learn from them
AI tools to increase your productivity
Accelerating growth through innovative practices
Networking events employ innovative techniques to aid participants. These shows are often designed to maximize exposure and offer opportunities to participants. Take the example of ISPO Munich, which attracts 1000+ media representatives and helps bring startups into the media limelight.
Industry events also offer direct meet-ups with investors so startups can secure funding. At ISPO Brandnew, for example, speed dating sessions are held with potential clients along with an Elite Networking Night event to increase prospects of attracting investors.
Besides direct meet-ups, award shows for startups are another technique employed to gain traction with investors and the media. The ISPO Brandnew Awards is a leading step in this direction. Upon fulfilling the eligibility criteria, startups participate in an awards program attended by media and potential investors. This gives them an excellent chance to pitch their product to a focused audience.
Takeaways for Early-Stage Startups
Every startup’s initial few years are full of experimentation, chaos, constraints, and confusion. Being a part of a supportive system, as offered by networking events, can be instrumental in maintaining stability. The benefits of such events aren't just limited to the initial stages.
Rather, this participation must be an intrinsic part of the long-term business growth strategy. In an environment where most startups are unsuccessful, leveraging all the external support and guidance you can get can be the factor that keeps you from failing.