IEC Tehnopolis organized the eighth starting-up in Niksic. Djuro Stojanovic, Bojan Tesic and Blazo Crvenica from Uhura Solutions were the guests at the event. The main reason for this was the fact that the three of them got an investment worth 400 000 euros, and they spoke about the development of their start-up, how they came to the founding idea, what the best way of dealing with the funding problems was as well as the importance of the team work in the process.
The people who were interested in attending the event asked questions and our guests were happy to answer them and gave useful tips based on their own experience so that everyone could get an insight into how much energy, work and enthusiasm is necessary to succeed in such a small country like Montenegro.
Uhura Solutions deals with the development of various algorhytms related to the artificial inteligence and machine learning in the process of analizing different contracts related to the financial working. „Our typical client is bank, for example a credit department that has so many papers that need to be checked. They do all this manually, and our solution automatically scans the document, analizes all the elements, gets the most relevants information and makes decisions based on that information.“
The inspiration for this start-up came from their desire to have an office without papers because papers are everywhere today. They wanted to become a global company but the most interesting fact is that they still don’t have a company in Montenegro, which they hope to be changed soon. „You must develop your business beyond the borders of Montenegro. Although it’s financially demanding, it’s worthwhile. ”
One of the questions that seemed to be interesting was if one should leave their current job in order to develop a start-up. The answer was no because it takes some time to start earning money from the start-up. „The point is that you need to like what you want to do, because it takes a lot of time and effort to sell your idea. Untill then, you have to make a living. As soon as you get the money from the investors you go through many checks because they need to be sure you won’t abuse the money. If you pass, you get the full trust.“
Uhura Solutions recommended adapting to the consumers because they are always right and said that nothing is free of charge, and neither is your product.
The topic of this event was pretty interesting, and the proof for that was the fact that many people were present, including some bank representatives.