Today I want to shortly introduce to you the finish Start-Up Norsepower. It is “a Finnish clean technology and engineering company pioneering the generation of renewable wind energy for the global maritime industry” (http://www.norsepower.com/, 2016). It was founded in 2012 and is leaded by Tuomas Riski, a serial entrepreneur, who developed it from five to now over 200 employees. Because of another project work I interviewed Mr. Riski via Skype. He was directly willing to help us and is a really friendly person. He explained to us that they install wind propulsion facilities on huge ships like tankers to save fuel when the wind is able to achieve the impetus.
We spoke most of the time about the differences in strategy and project choosing in a Start-Up and established companies. He told us that for them, it is most important to create a market and make it growth. That includes building a good reputation and always hunting for the next project. Right now they are the only company with a proofed solution. This technology is a radical innovation and is now continuously improved to better fit the demand (incremental innovations).
There were four really interesting statements for all of us:
1) To decide whether to found the company or not, they made a market size analysis, a profitability analysis and mechanical feasibility calculations.
2) If the number of projects is really small don’t hunt for planning everything methodically, just demand feedback and stay in close contact to customers
3) Wich projects they accept and for which price is right now decided by the importance of that project. That means making non-profit work if it helps you entering a new market or getting an important new customer.
4) For them it is most important to stay flexible. That means having a company culture with the target of clean energy but also not becoming to stuck in one strategy. They achieve this by not having regular meetings but working continuously and react to environmental changes.
I hope all of you enjoyed my insight view. If you have questions just comment:)