An addition to the Grand Prix, winners of two Inspiration Prizes were also announced at the STARTERtallinn Autumn 2022 Demo Day.
One of these was won by team FuHo which offers every homeowner smaller electricity bills using smart home automation.
We are happy to introduce this team of TalTech students. STARTER asked the team some questions and answers were put together by the team leader Sander Õispuu.
Where did the idea come from?
The idea of FuHo comes from a team member who noticed a problem with underdeveloped smart homes and skyrocketing electricity prices. Due to the speciality studied at the university, it was possible to get a good overview of energy in Estonia, which confirmed this fact. This is how an idea was born that would be really and practically useful for society, would lead humanity towards a more sustainable future and environment, and from which every party would win.
Why did you participate in the STARTER program? How did you get together as a team?
Since there was an opportunity to choose the Start-up entrepreneurship subject in connection with our studies at TalTech, we also had to take part in the mentioned program as part of this. We saw it as an opportunity to do something awesome with friends and also prepare a future potential business plan. In this way, we got together a good team, with whom we started working on what, for whom and how we could implement our plan. And as it turned out, it paid off and confirmed our idea.
The team consists of six members: Raigo Seppago, Tanel Neemre, Daniil Bragin, Sander Õispuu, Fred Baranov and Mirjam Vichmann. The first four are classmates (mechatronics 3rd course at TalTech), and Fred and Mirjam were on the team search. We communicated with each other and understood what value someone brings to the team and came to the conclusion that this is how we can get a good team together. Currently, we have successfully represented a three-member development team (Raigo, Tanel, Daniil), team management and sales (Sander), logistic side (Fred) and legal side (Mirjam). The fact that everyone took the topic with all seriousness and soul, and everyone has knowledge, experience and/or professional education in their field, was very positive right from the start.
What did you learn in the program? Do you recommend the STARTER program and why?
The completed program gave us more confirmation that we are moving in the right direction. In other words, we mainly validated our idea through various analyzes and tests, which we did either in the program or in school. Also, quite a few new and important contacts were added to the circle of acquaintances, we were able to experience various lessons and a very good experience from a successful presentation/pitch.
We recommend this and similar programs to anyone who has a business idea, but perhaps is unsure about its content, or even lacks a team. Through such programs, there is also a useful incentive that helps to keep up with one’s activities – that is, actually analyzing certain aspects, researching, planning, etc. There is also an opportunity to present your idea to different experts who have either experience or expertise in this field, which helps to point out possible weak points. In this way, it is possible to get excellent preparation for the future, if there is a plan to present the idea to judges and potential future partners. Finally, it is possible to win consultations and chat sessions with real experts and specialists, the value of which can be critical between success and learning experience.
What is the plan for the future?
FuHo’s plan is to continue with the idea in all seriousness and move forward with the development processes. The goal is to take part in various accelerators during 2023 and clarify as many concerns as possible in our activities in order to solve them. There is also a desire to have a product ready by the end of 2023 that can actually be offered to customers. In this connection, also finding funding, growing the team and strong strategic progress. After that, only time will tell.
Congratulations, team FuHo!