Friday, December 1st, Helsinki – We braved the cold to immerse ourselves in the buzz of innovation, entrepreneurship and technology, in startup heaven, SLUSH 2023.
Gathering from all over the world, the ecosystem was bubbling with excitement and now, we are here to share our key learnings, gathered to help foster your own entrepreneurial spirit.
ONE. Climate Technology is the Future
The climate crisis has been described as one of the most pressing challenges humanity faces in the 21st century. As put by historian and author, Yuval Harari, this is one of the most significant challenges we will be called to address as a global collective. At Slush, it was evident that steps are being made with startups coming from all over the world, feeding into a unified global effort towards a brighter future.
Thus, it’s clear that climate technology stands at the forefront of global priorities, driving innovation and transforming industries toward sustainability. From carbon credit companies, like Arbonics (winner of Mastercard Lighthouse MASSIV 2023, Fall edition) to sustainable finance compliance, the convergence of technology and climate initiatives heralds a new era of environmental accountability.
However, despite being an industry that is bubbling climate technology faces the same bottlenecks seen across regulated sectors. Namely, gathering necessary data and documents is time-consuming and resource-heavy, while process remain manual and cumbersome. Adding to this is the obscurity of having a patchwork regulatory landscape.
Luckily, advancements in RegTech intersect seamlessly with the climate tech sphere, offering sophisticated tools to ensure businesses navigate environmental regulations efficiently. As climate-related regulations become more stringent, the integration of technology into compliance processes becomes essential.
Consequently, leveraging the power of RegTech will enable organizations to not only meet regulatory standards but also drive innovation in sustainability practices. Thereby contributing to a more resilient and environmentally conscious global economy.
Embracing climate-centric technology is not just about meeting mandates; it’s incremental for fostering a sustainable future.
TWO. What’s Next from AI?
Listening in on the panel discussion hosted by Bloomberg’s Mark Bergen, From Lab to Launch – Navigating Early-Stage AI Investment, we heard an interesting query being voiced; Natalie Vais, General Partner at Spark Capital wondered out loud, What is next after the dust settles? What comes after the buzz around AI?
As technology continues to advance, AI is set to become more personalized and integrated into our experiences. From optimizing energy grids to facilitating precision agriculture and revolutionizing renewable energy systems, the next phase of AI will focus on greater autonomy, efficiency, and hopefully, will help tackle our most pressing challenges.
For example, advancements in AI-powered analytics and machine learning algorithms will be pivotal in harnessing data to mitigate environmental risks. AI-driven predictive models will aid in understanding climate patterns, enabling better disaster preparedness and resource management. Moreover, innovations in climate-focused AI applications will revolutionize carbon capture technologies, biodiversity monitoring, and sustainable urban planning.
The panel looking at AI investment – which also included GFC‘s Don Stalter and Greylock‘s Corinne Rileyt – all agreed that after the wave of layoffs, comes liquidity. Meaning, startup companies will be able to hire new talent, especially in AI. However, a cold truth we kept hearing across panels and speeches at Slush.. it’s an incredibly icy time for fundraising.
This impending AI revolution isn’t merely technological; several ethical and regulatory considerations come into play. Responsible AI development is crucial to ensure these innovations benefit the planet while minimizing unintended consequences.
We hope that with proper regulation and application, technology will serve as a catalyst for environmental stewardship and global resilience.
THREE. Customer Experience is Key
One thing we can all agree on, at Slush and beyond, is that startups want to grow, no matter the industry, no matter the technology. Quoting Sabba Keynejad, Co-Founder and CEO at Veed, early-stage founders like building products, but growing your company is completely different. If you find the lever of growth keep pushing it.
Perhaps there are many levers of growth but in today’s day and age, a case can definitely be made for customer experience.
At Slush, we had the pleasure of listening in on an intriguing speech on Revolutionizing Customer Experience for Growth, Anastasia Zdoroviak, VP of Customer Experience at Rappi (and previously at DoorDash) brought forward real-life examples that highlight just that; customer experience can be leveraged to scale a company. What we learnt?
When CX is in the DNA of your brand and product, it’s bound to be great
Customer-obsessed companies look like Apple. They don’t need to tell you they value the customer’s experience. This is clear as day in all their products. It’s entwined in the company culture and the teams practice it everyday.
Speed and accessibility translates as a sign of respect
Think about it. How easy is it for your customers to use your services? Or, to contact support if they need help? How quickly is your product delivered? Or, how easy is it to coordinate sending it back? How easy and effortless you make interactions with your company, solutions and products will directly impact the level of respect you earn – and respect is the basis of every healthy relationship.
Data, segmentation and personalization
Make use of the data you have, leverage need-based segmentation to offer a truly personalized solution. Tailored solutions, like norbloc’s Sancus,
In short, growth and success largely lies in offering your customers an effortless respectful and personalized solution, service or product.
