Biography
Biography: Elizabeth Berryman
Abstract
With access to the internet now available on roaming networks, data plans that are ‘unlimited’ and cities that provide free WiFi, being connected has never been easier; it is no wonder that we are witnessing an impressive proliferation of mHealth ventures- metaphorically referred to as the startup bubble. Easy access to potential markets and low cost of service distribution are appealing conditions for modern entrepreneurs. Inspired by success stories such as, Spotify, Uber, Facebook, Tesla, a large number of software businesses are created daily. However, the great majority of these companies fail within two years from their creation. As their time and resources are extremely scarce, and one failed project can put them out of business, startups need effective practices to face with those unique challenges. Only a few scientific studies attempt to address characteristics of failure, especially during the early start up stage. By raising our understanding of the failure of early-stage tech based startup companies, we can learn from them, and avoid them. Effective leadership, and execution of strategy are two aspects that are vital to success. An investigation, through qualitative methods, interviewing start-up founders and CEOs revealed key lessons that can be learnt for future mHealth entrepreneurs and advisors. Thematic analysis using grounded theory methodology was conducted from the interviews and through the stories of failures and successes, we distilled key themes and concepts. These have been developed into a practical framework that enables leaders to implement into their own practice, and ‘stand on the shoulders of giants’.