Emerging Europe Talks — AI for start-ups with Hotball.ai’s Maksym Nagara  - Emerging Europe

It is widely known that the majority of new businesses fail. In reality, over 66% of them fail to generate profitable outcomes for their investors.

Based on a recent analysis by Skynova, a significant number of start-ups in 2022 (around 47%) failed because they didn't have enough funds. This percentage is nearly twice as high as the previous year's failure rate for the same reason. About 44% of start-up failures were caused by running out of money, while approximately 33% were linked to the extensive impact of the Covid-19 pandemic on businesses and the overall economy.

Startup entrepreneurs frequently depend on their expertise and past encounters, or seek guidance from external advisors and mentors. An overwhelming majority of approximately 500 founders surveyed by Skynova, nearly 60 percent, admitted they should have conducted additional market research before commencing their ventures.

What if they counted on synthetic intelligence to assist them in crafting a business strategy? This is precisely what Hotball.ai aims to provide.

Maksym Nagara, the creator and chief executive officer of Hotball.ai and the founder and primary advisor of Bezmezh.Consulting, engages in a conversation with Andrew Wrobel regarding how the company's offering can assist new businesses in comprehending strategy and enhancing their planning abilities.

They also discuss the causes behind the frequent failures of start-ups and the potential of AI in aiding the sustainable expansion of small enterprises.

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