Digital solutions for business in Romania - Smart Bill

European Investment Fund

24 Oct 201802:25

Summary

TLDRSmartville, 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.

Outlines

00:00

🚀 Smartville's Growth and Success

Smartville is a software company specializing in inventory management, founded by three co-founders 12 years ago in Romania. The company quickly became a market leader after the introduction of computerized invoicing. Mariana, a venture capital manager at Catalyst Romania, discusses the company's growth since receiving an investment from the European Union seven years ago. The funds were used for marketing, sales, and the development of a new accounting software, which is expected to revolutionize the Romanian market. Smartville's growth has been over 50% year-over-year, and the company is known for its openness to client ideas and its contribution to Romania's competitiveness on the global market.

Mindmap

Keywords

💡Smartville

Smartville is a company that specializes in employment and inventory management software. It is a key subject in the video as it represents a successful entrepreneurial venture. The video discusses the company's growth and its role as a market leader in its field.

💡Co-founders

Co-founders are individuals who jointly establish a business. In the context of the video, there are three co-founders of Smartville who started the company 12 years ago. Their collaboration and shared vision are central to the company's success story.

💡Romania

Romania is the country where Smartville is based and where the co-founders started the company. The video mentions the significance of Romania entering the EU, which allowed for the first-time issuance of invoices on computers, a development that Smartville capitalized on.

💡Venture Capital Manager

A venture capital manager is a professional who oversees investments in start-up companies, providing them with the necessary capital for growth. Mariana, one of the video's speakers, is a venture capital manager with Catalyst Romania, and she discusses her role in supporting Smartville's growth.

💡European Union (EU)

The European Union is a political and economic union of member states that Romania joined. The video highlights the impact of Romania's EU membership on the business environment, enabling the development of software solutions like Smartville's.

💡Personal Development

Personal development refers to the process of improving one's skills, knowledge, and abilities. The video mentions that the founders of Smartville were interested in personal development for themselves as entrepreneurs and managers, which contributed to their business acumen and company's growth.

💡Year-Over-Year Growth

Year-over-year growth is a measure of how much a company has grown compared to the previous year. The video states that Smartville has experienced over 50% growth year-over-year, indicating the company's rapid expansion and success.

💡Marketing and Sales

Marketing and sales are critical functions for any business, aimed at promoting products and generating revenue. The video discusses how Smartville used funds for growth in these areas, which is a key strategy for expanding their market presence.

💡Accounting Software

Accounting software is a type of program that records and processes financial transactions. The video mentions that Smartville is building new accounting software that could be a game-changer in Romania, emphasizing the company's innovation and impact on the market.

💡Smart Money

Smart money refers to investments that are not only financial but also strategic, often involving guidance and expertise. The video suggests that Smartville needs 'smart money' rather than just any kind of funding, indicating the importance of investment that comes with added value.

💡Canopy

Canopy is another company mentioned in the video, which has been using Smartville's software from its inception. Cristian, the founder of Canopy, speaks about the value of software in business, reflecting the broader industry trend and the importance of Smartville's offerings.

💡Global Competitiveness

Global competitiveness refers to a country or company's ability to compete effectively in the international market. The video suggests that being part of the EU has helped Romania become more competitive globally, which is a significant factor in the success of companies like Smartville.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. The video features several entrepreneurs who share their experiences and insights, highlighting the challenges and rewards of starting and growing a business.

Highlights

Smartville is an employment and inventory management software company.

The company was founded 12 years ago when Romania entered the EU.

Invoices could be issued on computers for the first time.

Smartville became a market leader within a year.

The founders started with zero money and zero experience.

Mariana is a venture capital manager with Catalyst Romania.

Catalyst Romania invested in Smartville seven years ago with EU support.

The company was interested in personal development for entrepreneurs and managers.

Smartville grew over 50% year-over-year.

Funds were used for growth, marketing, sales, and product development.

Smartville is building a new accounting software expected to be a game-changer in Romania.

Without financing, Smartville's growth would have been much slower.

Smartville needs smart money, not just any kind of money.

Media and colleagues rely on Mariana for making the right decisions.

Cristian, founder of Canopy, has been using Smartville from day one.

Software is now understood to be valuable and not optional.

Smartville is open to client ideas and feedback.

EU membership has helped Romania become more competitive globally.

Romania is a great place to find talent.

There is optimism for more startups emerging from Romania.

Entrepreneurship is not as easy as it seems from the outside.

Despite challenges, the path of entrepreneurship is still chosen repeatedly.