{"id":42226,"date":"2023-10-20T15:19:40","date_gmt":"2023-10-20T15:19:40","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-thinking-global-from-day-one-helped-bluedot-innovation-take-on-the-world-startupsmart\/"},"modified":"2023-10-20T15:19:40","modified_gmt":"2023-10-20T15:19:40","slug":"how-thinking-global-from-day-one-helped-bluedot-innovation-take-on-the-world-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-thinking-global-from-day-one-helped-bluedot-innovation-take-on-the-world-startupsmart\/","title":{"rendered":"How thinking global from day one helped Bluedot Innovation take on the world – StartupSmart"},"content":{"rendered":"
\"Blue<\/div>\n

When Bluedot Innovation CEO Filip Eldic first built his disruptive location services software, he soon discovered the Australian market just wasn’t ready for it.<\/p>\n

But this didn\u2019t mean the world wasn\u2019t.<\/p>\n

Speaking at the SouthStart conference in Adelaide, Eldic said that building good quality products and companies for Australia isn’t good enough, and founders need to start thinking global from day one.<\/p>\n

\u201cYou need to start understanding where your spot is in the global space,\u201d Eldic says.<\/p>\n

Avoiding the Valley of Death<\/h3>\n

When Bluedot Innovation was embarking on global launch, Eldic says he needed more than $1.5 million to make it happen.<\/p>\n

But when the startup entered the Australian investor market, the team soon found themselves at the bottom of the \u201cAustralian Valley of Death\u201d, a point when a failure to acquire customers for a research and development concept stunted funding and further evolution.<\/p>\n

As a startup with dwindling finances and no customers, but with a tech product they knew would have demand in global markets, Eldic and his team decided to reach out overseas.<\/p>\n

Today, Bluedot Innovation has staff and investors in two continents, customers in four and direct competitors across the globe.<\/p>\n

To fellow founders with startups that offer something the world will want, Eldic says they should skip trying to dominate Australia as a stepping stone and head global from day one.<\/p>\n

He says they need to consider opportunity, necessity and risk.<\/p>\n

\u201cUber didn\u2019t start thinking how do we change California,\u201d he says.<\/p>\n

\u201cThey said how do we change the world.\u201d<\/p>\n

It\u2019s an ambition more Australian startups should begin with, he says.<\/p>\n

\u201cGoing global from day one gives you a fighting chance to make you globally competitive,\u201d Eldic says.<\/p>\n

Bluedot’s journey in being a global startup has come with many challenges but Eldic says it has made the entire team stronger.<\/p>\n

\u201cWhen you go global you have to understand that there are global competitors, but don\u2019t be afraid of that, it sharpens you up, and if you stick your head in the sand those competitors will be at your door and they will crush you,\u201d he says.<\/p>\n

Building global startups from Australia<\/h3>\n

Eldic says the support available for globally thinking startups in Australia is the envy of entrepreneurs in the US.<\/p>\n

\u201cThey can\u2019t believe the kind of support that is available here,” he says.<\/p>\n

With government funding programs like Accelerating Commercialisation and the R&D grant, Eldic says Australian startups have excellent support to help them succeed on the international stage.<\/p>\n

\u201cThere\u2019s free money there just if you say, \u2018I\u2019m going to make a global startup\u2019,\u201d he says.<\/p>\n

Reflecting this sentiment, the South Australian government announced a new six-month program helping local startups to accelerate their ventures, kicking off in August.<\/p>\n

Assistant minister to South Australia premier Katrina Hildyard encourages innovative thinkers to give their bold new ideas a chance.<\/p>\n

\u201cIf we are to grow, innovate and embrace the opportunities of today, we need to identify new ideas, exploit new products and target new markets,\u201d Hildyard says.<\/p>\n

\u201cWe want to improve the way we support startups.<\/p>\n

\u201cSometimes we get dazzled by the big names and big brands and we need to remember even the biggest companies started small.<\/p>\n

\u201cBy working together and connecting at events like this and beyond we can foster economic prosperity.\u201d<\/p>\n

StartupSmart attended the SouthStart conference as a guest of Brand South Australia.<\/em><\/p>\n

F<\/em>ollow StartupSmart of Facebook, Twitter, LinkedIn and SoundCloud.<\/p>\n","protected":false},"excerpt":{"rendered":"

When Bluedot Innovation CEO Filip Eldic first built his disruptive location services software, he soon discovered the Australian market just wasn’t ready<\/p>\n","protected":false},"author":2,"featured_media":60454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42226"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42226"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60454"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}