Evita Lune, Partner and Global Head of Pedersen & Partners’ FinTech Practice, was recently interviewed by a podcast hosted by the University of Latvia Student Business Incubator. Evita is an alumna of the University of Latvia, and she takes a keen interest in her alma mater’s young entrepreneurs, supporting the Business Incubator as a private donor and patron, and mentoring students in their early business journeys. She initially decided to donate after she participated in their Blockchain Accelerator program herself at a time when the companies in the blockchain environment were at the peak of ICO (Initial coin offering), issuing coins, tokens, and currencies. A selection of the points that Evita covered in the podcast:
• New ideas and new companies allow us to look at things from a different angle, and they give fresh impetus to the development of small and medium-sized enterprises, which are the basis of every demographic country and modern economy.
• Within the Blockchain Accelerator project, it was interesting to understand the new form of raising finance, and the way in which economic relations changed in general when issuing money was no longer the sole domain of the state, but could be done by any company. Taking part in this program and learning about new technologies and ways of doing business globally was a fantastic experience.
• Supporting young entrepreneurs is not only personally satisfying, but good for the industry as a whole. Some of my FinTech clients at a certain level of maturity are often interested in creating their own incubators and accelerators, and they see a real return on investment when these new companies and ideas contribute to the growth of the business.
Evita concluded with three tips for young entrepreneurs:
1. In business, having the newest or best idea is not necessarily the most important thing – instead, it is more important to find a niche that can be implemented successfully. The winner is often the one who can fulfil an idea very well, even if it is an old idea.
2. Young entrepreneurs should think globally. We have the opportunity to live in a free country and an open economy, and we are not limited to our own country or city. Many ideas in business incubators are too modest – global plans do not always require huge resources!
3. Choose great teammates, because collaborating is a better experience than sitting alone. Team members who can dance until dawn are not always the ones who are most valuable in business! It is necessary to carefully consider the people with whom you want to build a company. Difficulties, challenges, and indeed victories are much more enjoyable when shared with your partners.