Jochen Schon discusses the new orientation of the business model in an interview with Fraunhofer Venture: Instead of individualized solutions for everyone, we are developing a comprehensive high-tech solution specifically for the media industry. By focusing on this particular niche, Convit will be able to make better use of the technology’s potential and accelerate growth.
Jochen, Convit has undergone a business transformation this year, a so-called pivot. What encouraged you and your team to do this?
A realization and an opportunity triggered this reorientation. Even though we started successfully with our cloud-based software platform used to analyze, qualify and structure data and we were happy with the good organic growth, we were certain that our current projects had not yet realized the full potential of our product and its underlying Fraunhofer technology.
We therefore analyzed our portfolio and came to the conclusion that our very broad positioning across many sectors and the individualized use of our platform were not scalable enough.
At the same time, in partnership with major customers from the media industry, we have identified a niche for which there is a high demand but currently no suitable offering on the market. We therefore decided to seize the opportunity and focus on one sector first. Instead of organic growth through a broad approach, we are now pursuing a systematic industry solution and responding to the needs of the target group.
How do media companies benefit from your pivot?
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You can read the whole interview at Fraunhofer Venture.
