iGreet is one of the good examples for an innovative and successful startup on bulgarian ground. The young company is developing greeting cards from a new generation, using the Augmented reality technology. This is our conversation for the digital ecosystem in Bulgaria with its founder - Vicho Dimitroff.
How can you explain what you're doing to a, let's say, ten-year-old?
Having in mind today's young children and their developed fast forward approach to new technologies, it is going to be a greater challenge to explain Augmented reality to a grownup. I have a three-year-old son, who practically knows what it is, he knew how to scan cards and books when he was two. Said as simply, as possible: we make cards vivid through the camera of the smartphone. It has to be seen, because its explanation sounds a little bit abstract.
Do you see more pros or more risks at being your own boss?
It depends on the person. For me, personally, the risks and the disadvantages are insignificantly small, compared with the privilegeс it gives me. Of course, the responsibilities are greater, but the feeling of you succeeding in creating a product and seeing it useful and amusing for thousands of people is incomparable. One of the major risks is seeing how something SHOULDN'T BE DONE, which is completely normal, and I guess that every entrepreneur has experienced it in one way or another.
Certainly, those who intend to try must know, that they will have to put a lot of time, effort, positivism and patience.
Why did you decide to develop your business here?
First of all, because I am a Вulgarian. What we have here is a really favorable environment for starting a business and a good test market. Our technical professionals are of high profile, at the same time the price of the working force is lower than in other countries. We have all of the predispositions in order to create a stable ground.
Why did you choose to be a part of EDIT? How important is the community for the existence of the startup ecosystem in Bulgaria?
It is valuable for me, because I accept it as a platform for experience exchange.
In Bulgaria, our ecosystem is still in its fetus phase and I hope, that there will be more and more successful companies, which will share their practical experience and stimulate each other. This is exactly why the community is one of the key factors in the future development of the environment. The more cohesive the community is, the better for all.
How does the path from an idea for a digital business to the realization of a successful company look like?
From my personal experience, I can say that there is no short and easy way to the realization of an idea. In brief, the main stages are: good planning, product making, constant development and strong marketing.
Here is an example, which illustrates this "simple"process:
What is the most valuable knowledge, that you have obtained at Draper University?
The most valuable experience for me, was that at the beginning they separated us into teams of five students and we were put in front of a variety of challenges and stressful situations. In the process we managed to work with each other and at the end we were thinking as one. It was really useful to see myself reacting in certain situations. This showed us how does a little company function, in practice and how important is teamwork.
Draper University helped me in thinking bigger.
How important it is to have a partner in a startup? What is the ideal co-founder?
Being at the beginning of startup is a hard thing and the presence of partners and people, who you may trust is desirable. The ideal co-founder is someone who shares a common vision with you for the future of your company and you piece out each other by qualities. There are a lot of challenges on the road and it's good if there is someone to consult and share the tension with.
What are the challenges of today ahead of you and your business? What's ahead of you?
At the moment, we are working on a new version of our application. Our customers will be able to integrate a personal video message in a printed card. This month we are going to launch a collaborative product on a foreign market. Also, we are actively researching for opportunities to enter the American and British market.
