How to turn innovative startups into successful businesses: The case of Techperks

• Autor(a) principal: Sousa, Rita Lourenço de
• Data de Publicação: 2019
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/19352
• topic: Technology; Internet of things; Innovation; Business strategy; Entrepreneurship; Retailing; Marketing strategy; Tecnologia; Internet das coisas; Inovação; Empreendedorismo; Estratégia de negócio; Venda a retalho; Estratégias de marketing; Marketing; Startup; Performance; Trabalho de projeto; Portugal

The Internet of Things, also known by the acronym IoT, comprises all devices and objects that are enabled to be permanently connected to the Internet, being able to identify on the network and communicate with each other. This technology is incorporated into a variety of products that are available today and designed to make life easier for consumers. The result was the emergence of smart cities, connected factories, connected cars, and an enormous amount of many other applications. All of this is evidence of how the world is adapting to the Internet of Things (IoT). IoT is a hot topic in our days and many business models arise from this trend, in form of new technologies, products, and services. However, when it comes to business strategy and profitability, it is not only about having the best idea or the best product but how to market it in the best way and attract the right target. Techperks is a startup built with the objective of bringing new IoT products to Portugal. However, the concept was not innovative enough to succeed as predicted in the Portuguese market. This case aims to highlight the biggest reasons explaining the brand's low performance and serve as a guide of “mistakes to avoid when launching a new innovative business”. It can also be used to stimulate student’s creativity in developing strategies used by Techperks to exploit the brand's total potential. “How should I begin?”: this is the question which students will be able to answer.