1 year to launch a tech product: More than 80% of Launch community startup founders go from MVP to public product in 12 months
In 2021, the founders of early-stage startups in Launch launched technology products after working on them for almost 12 months. Over 80% of companies now have a product launched publicly or in the beta phase. Less than 20% of startups had a product launched early last year.
Launch – the startup founders’ community – launches the first edition of Launch Community Report 2021, a document that tracks the evolution of startups in the community and that could be a starting point in terms of analyzing the ecosystem of early-stage startups in Romania.
“As the team is decisive in a tech startup in executing the most appropriate solution for the identified problem or need, so do we, in Launch, found the right teammates with whom to fulfill the mission of the community, and these are Launch co-organizers and all those who contribute to the community”, says Alexandru Agatinei, CEO of How to Web, co-organizer Launch.
The analysis shows that the trend of automation, highly popular due to UiPath in recent years, has been steadily growing in 2021. The most attractive industry for tech product development was Developer Tools & Productivity (14.5%), followed by Health (11.3%) and Education (9.7%).
The founding teams have a strong commitment to product development, building in small teams of up to 3 founders and co-founders (79.1% of startups). They mostly finance their work with their own funds or from relatives (almost 60% of them).
“We are honored to contribute to the development of the startup ecosystem in Romania through Google for Startups and we are glad we are able to help entrepreneurs get started with this shared initiative,” said Dan Oros, Head of Marketing at Google & YouTube Romania, co-organizer of Launch.
The founders build useful solutions for the customer segments they address: 97% of startups already have users for the tech products created and 72.6% already earn revenue from them.
„Creat și Gândit în Romania involves the development of technology products that respond to real problems in society so that we do not lose the train of competitiveness and attracting talent. We support the Launch community because it prepares and guides business ideas to be transformed into sustainable businesses, which have a scaling mentality from the beginning “, says Cătălin Lupoaie, Communication and Public Affairs Manager BCR.
The report tracks the evolution of startups in the Launch community after the first year of their formation. The results reflect the responses of 62 startups out of a total of 74 startups in the community at the time of data collection, which means a response rate of 84%.
Launch – the startup founders’ community – is an initiative of How to Web, Google For Startups and InnovX-BCR. Launch provides free access to resources that technology product founders need to create a successful startup: relevant group activities and work sessions, mentoring, expert meetings, and pilot projects.