Digital solutions for business in Romania - Smart Bill

Summary

Smartville, a Romanian inventory management software company, was founded 12 years ago by three co-founders who started from scratch. The company became a market leader within a year after Romania began issuing invoices electronically. Mariana, a venture capital manager with Catalyst Romania, explains their investment in Smartville seven years ago, emphasizing the importance of smart money and personal development for entrepreneurs. The funds were used for marketing, sales, and developing a new accounting software set to revolutionize the Romanian market. Cristian, founder of Canopy, praises Smartville's openness to client ideas and acknowledges the increasing value of software in business. The video highlights the competitive advantage Romania offers in talent and the optimism for future startups, with a nod to the challenges and rewards of entrepreneurship.

Takeaways

• 🚀 Smartville is a company that specializes in employment and inventory management software.
• 📈 The company was founded nearly 12 years ago by three co-founders, and they became market leaders within a year.
• 💡 The founders started with no money and no experience, but they had a desire to do something different.
• 👩‍💼 Mariana is a venture capital manager with Catalyst Romania, who invested in Smartville seven years ago.
• 💼 The investment was supported by the European Union and was aimed at personal development for entrepreneurs and managers.
• 📊 The company has grown over 50% year-over-year, using funds for growth, marketing, sales, and product development.
• 💡 They are developing a new accounting software that is expected to be a game-changer in Romania.
• 💰 Without the financing, Smartville's growth would have been much slower.
• 🤝 Media and his colleagues rely on Mariana for making the right decisions and guiding the company's growth.
• 🌟 Cristian, the founder of Canopy, praises Smartville for being open to client ideas and emphasizes the importance of software in business.
• 🌍 Being part of the EU has helped Romania become more competitive globally and is a great place to find talent.
• 🚀 Despite the challenges, entrepreneurship is a path that the speakers would choose repeatedly.

Q & A

What is Smartville and what does it specialize in?

Smartville is an employment and inventory management software company. It was founded nearly 12 years ago and became a market leader within a year of Romania entering the EU, when invoices could be issued on computers for the first time.

What was the initial condition of Smartville when it started?

Smartville started from zero with no money and no experience, as mentioned by one of the co-founders.

Who is Mariana and what is her role in relation to Smartville?

Mariana is a venture capital manager with Catalyst Romania. She invested in Smartville seven years ago with support from the European Union.

What was the purpose of Mariana's investment in Smartville?

Mariana's investment was aimed at personal development for the entrepreneurs and managers of Smartville, to help them grow their business.

How has Smartville grown since Mariana's investment?

Smartville has grown with over 50% year-over-year, using the funds for growth in marketing, sales, and product development.

What is the significance of the new accounting software that Smartville is building?

The new accounting software being developed by Smartville is expected to be a game-changer in Romania.

How would Smartville's growth have been different without the financing from Mariana's investment?

Without the financing, Smartville would have grown at a much slower pace.

What type of money does a company like Smartville need according to the transcript?

Smartville needs 'smart money', which implies funding that is not just financial but also strategic and supportive in nature.

Who is Maurice and what is his role in Smartville's growth?

Maurice is a person who has joined the board with Smartville. He helps the company make the right decisions and guides its growth in the desired direction.

What is the significance of Smartville's openness to client ideas as mentioned by Cristian?

Smartville's openness to client ideas is one of the things that Cristian, the founder of Canopy, loves about the company. It indicates a customer-centric approach that likely contributes to its success.

How has being part of the EU helped Romania in terms of competitiveness and talent?

Being part of the EU has helped Romania become much more competitive on a global market and is a great place to find talent, as stated by Mariana.

What is the general sentiment towards entrepreneurship in Romania as portrayed in the transcript?

The general sentiment is optimistic, with the belief that more startups will rise from Romania. However, it is also acknowledged that entrepreneurship is not as easy as it looks from the outside.