TD Shepherd participated at Slush 2023 event in Helsinki, and we’re thrilled to share some key takeaways from this dynamic gathering of innovators, investors, and tech enthusiasts.
The event was a melting pot of interesting individuals, startups, corporates and VCs, offering plenty of networking opportunities. From engaging discussions at the booths to interesting conversations at the after-parties, Slush 2023 was a hub of connections and collaborations.
AI Dominance in pitches
Two letters echoed through every pitch – “AI.” The (sometimes “artificial”) influence of artificial intelligence was undeniable, showcasing the evolving landscape of technology and its impact across industries. The future is undeniably intelligent!
Software steals the spotlight
While hardware wasn’t absent, the spotlight belonged to software innovations. From cutting-edge applications to groundbreaking platforms, Slush 2023 emphasized the transformative power of software in shaping the future.
Efficient meeting organization
Big thanks to the organizers for an efficient meeting setup! The event app made scheduling meetings a breeze, ensuring that every minute at Slush was maximized for meaningful connections and business discussions.
Gastronomic delights
The food at Slush 2023 was not just good; it was exceptional!
Plenty of evening networking events
Slush 2023 didn’t end when the sun set. The evenings were as vibrant as the days, with plenty of networking activities to choose from. While the discussions heated up inside the event, Helsinki greeted us with its signature cold. It added a unique charm to the overall experience, reminding us that innovation thrives even in the chilliest climates!
A special shout-out to the Finnish student volunteers whose enthusiasm and dedication contributed to the seamless flow of the event.
In conclusion, Slush 2023 demonstrated, again, the limitless possibilities that technology holds.
One of the challenges that comes with design services is the cyclical nature of the services business. When the economy tightens and corporates are watching their operational expenses, the first step will be to halt any external contracts/contractors which are not deemed absolutely essential.
Whereas the earlier (staircase) model is a good approach in scaling up revenue and creating new revenue streams, the foundation of the company is still based on the service model: headcount continues to be the main driver (typically up to 60-70% of revenue). In terms of (enterprise) valuation the additional revenue streams, however, will already make a significant difference.
Design services companies typically start small (some exceptions when it concerns management buy-outs) and natural growth is a slow process as it requires hiring and training of engineers based on/driven by the revenue stream of the company. Growth of business is tied to growing the team and it is not always easy to find the engineers.