29.05.2024

Innovative Startups: Opportunities or Threats for Traditional Companies?

Startup, Scaleup, Unicorn... Terms often used today to talk about these companies that are revolutionizing our consumption methods.

 

What is a Startup?

Although the term Startup has been part of our everyday language for more than twenty years, what exactly is it?

It's pretty simple. Take three ingredients and mix.

First, it is a recently created company.

Then, add a technology factor to the core of the business, regardless of the service you're targeting.

Lately, this company has significant growth potential.

The whole leads to the end of Startup.

Let's take a hypothetical example.

I'm partnered with three friends and we want to revolutionize the way we order our favorite books online. Everything would be done via a digital application and our delivery center would allow us to deliver to our customers anywhere in the world in less than 48 hours. We'll start small in a tiny office with a few titles available. But we believe in it! Speed, choice, technology... It's going to be a hit!

What are you saying? Does it already exist? A company called Amazon? Drat!

 

What does Scaleup mean?

When a startup progresses and grows, it falls into another category.

It should be noted that many Startups do not succeed.

Those that make it through are referenced as Scaleup.

4 ingredients this time.

A relatively young, fast-growing, innovative company that has been growing steadily for the past 3 years.

Mix it all together and you have a Scaleup.

 

What does Unicorn mean?

That's right, Unicorn or Unicorn reflects a fairytale and whimsical image.

However, this is the ultimate success for a Startup, which has become Scaleup which, after a while, sees its estimated value at more than a billion dollars!

Remember our competitor who got ahead of our idea of ordering books online, a small company called Amazon?

That unicorn has become a monster.

There are not enough 0s to determine its market value.

Its annual turnover now exceeds 500 billion.

 

How does this change the game?

This is disruptive!

More jargon that has grown as Startups have provoked a need to react on the part of so-called "traditional" companies.

Think of the video library channels when Netflix was launched.

Huge chains, especially those based in the United States, were forced to close shop as the anticipation of such an offer was underestimated.

The travel agencies that dominated the booking market in the 80s and 90s depended in part on hotel commissions. This entire section of income was wiped out in a few years.

Supply and demand, competition, promotions... all this already existed. What has changed is the fundamental impact of technology and the near-universal access to smartphones.

It has revolutionized the way we consume.

Immediately, easily, simply having a wide choice and being able to buy, rent and order a range of services and objects became the norm.

Traditional companies that were slow to adapt to this trend quickly lost market share and were replaced by these startups or by their historical counterparts who anticipated this revolution.

The trend of mergers and acquisitions to create behemoths was accelerated in response to these challenges. For better and sometimes for worse.

 

And Milenia in all this?

Milenia is a funding platform.

This is how we view our service proposition.

A platform built around a set of digital tools to speed up and simplify the process of establishing your credit report.

Faster, simpler... but just as qualitative, just as competitive and just as respectful of the rules in this area.

We are not brokers in a dusty office working the old-fashioned way, despite all the respect we have for our colleagues.

Our customers deserve better. We understood this from the creation of the company.

The result?

We quickly became the benchmark in the industry.

We are now part of a group that is by far the number 1 in Switzerland in the credit sector.

Are we satisfied? Never!

The recognition shown to our loyal customers is based in particular on the fact that we always want to innovate, to always be at the cutting edge, to always anticipate new trends and new expectations.

That's why we offer you a fully digitized experience, remote identity validation, electronic signature and sending documents by Whatsapp (another Startup launched in 2009).

All this is guided by a team of professional advisors and supervised by an organization rooted in strong values and surrounded by a network of partners that is unmatched in the market.

Do you want to carry out a personal project and need a loan?

Visit our platform and see for yourself the time saved and the ease with which your request is analyzed and processed in a personalized way that respects your reality.

We probably won't be a Unicorn tomorrow but we will enjoy, with you, the rainbow that reflects your state of mind when you carry out the project that is close to your heart!

Milenia, by your side.

 



Loan illustration: loan of CHF 10'000. Effective annual interests rates between 4.9% and 11.95% over a 12 month period lead to total interests of between CHF 261.80 and CHF 624.80. Duration: 6-120 months; Maximum annual interest rate (including all loan handling costs) 11.95%. Loans approval are prohibited if they lead to excess debt for the consumer. (Art. 3 LCD)

 

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