A mature and thriving company can shed some light and knowledge for young entrepreneurs who want to make their dreams true. One of these companies, is NEDECO Εlectronics, a Cyprus-born company.
It was founded in 1989 by Neophytos Demetriou and with more than 30 years of experience in the Technology Sector, its main volume of turnover includes a full range of telecommunication equipment and networks including telephone systems of various sizes, data transmission equipment and network equipment, as well as high-tech terminals that allow access to public services or private networks. With a diversified portfolio of services and in addition to telecommunications solutions, they offer a variety of other technology solutions and products.
The telecommunications industry and startups are no strangers to each other. They have a relationship characterized by innovation, disruption, and mutual benefit.
In recent years, the rapid evolution of telecommunications technology has created a fertile ground for startups to thrive.
We all know about emerging trends such as cloud computing, software-defined networking, and the Internet of Things (IoT) introduce novel solutions that challenge traditional telecommunications models.
Collaborations between startups and industry incumbents often result in synergistic partnerships, where startups gain access to resources, expertise, and market reach, while larger companies benefit from fresh perspectives, cutting-edge technologies, and nimble approaches to problem-solving.
Telecommunications have changed
Over the past five years, as the world grappled with the repercussions of various crises, businesses across all sectors experienced seismic shifts, and telecommunications was no exception. As the CEO of NEDECO Εlectronics Mr. Loukianos Raftis states to The Future, COVID-19 has been a key point.
“It immediately forced the companies to go home and the solution was that they had to work from home with remote use” he says.
Mr Raftis explained that the companies were forced to go to a solution that their telecommunication systems should support users to join securely on the corporate systems.
This developed a hybrid solution of having something on-premises in their offices and having something in the cloud so that users can communicate more easily. As well as a full cloud solution, i.e. not having equipment at the office because the user may not have to go to the office, and be able to do any work from home using their mobile or laptop.
“So, it changed the way users work nowadays. There is the trend from the device in the office, and in terms of cost and everything, they went to the mobile and the computer” he notes and adds “The good thing about Alcatel-Lucent Enterprise, our solutions are hybrid. You can start with the traditional way with systems at the office, but since the coronavirus happened, we easily went home. We the help of the Rainbow platform, we had the telephony at home and could communicate”.
Mr. Raftis, also notes that these days, newcomers are increasingly not buying devices for their offices. They prefer to have 1-2 devices and rely on an attitude of “bring your device”. By doing this they save time and money, which can be crucial for their company.
A great space for startups
Now that telecommunications have rapidly changed, one major question can be “Is there space for startups?”.
Startups play a pivotal role in driving innovation within the telecommunications industry itself. By harnessing the agility and creativity inherent in startup culture, entrepreneurs are reshaping the landscape of connectivity, offering innovative products and services that cater to evolving consumer demands and business needs.
Mr Raftis offers some thoughts about it. “What comes to my mind now is about bots. That is, of automation, because now telecommunications are a piece of application. I consider bots because I am also a software developer, to be a very good solution for some startups to do some specific solutions.
A Rainbow for Partnerships
NEDECO has over 30 years of experience in the Technology Sector, and this gives the company the position to be one of the leaders of the industry.
Of course, to be part of innovation and fresh ideas today, they need to follow the current trends from startups for possible partnerships. When asked if NEDECO is open to this kind of cooperation Mr. Raftis replied enthusiastically “We would very much like them, to be honest”.
NEDECO with Alcatel-Lucent Enterprise, offers a platform called “Rainbow” which is open to any developer, who wants to write a program. Through “Rainbow”, the software can be certified and from there Alcatel-Lucent Enterprise will promote it through a channel, as an application partner.
“So yes, there is encouragement for someone to make apps that are compatible with Alcatel-Lucent Enterprise and promote them to all countries where Alcatel-Lucent Enterprise is present,” says Mr Raftis.
As for Cyprus, any developer or startup can contact NEDECO, and get access to software, with which he will be able to make the connection of his solution together with that of Alcatel-Lucent Enterprise, which then can be presented to our customers.
There cheap options
For a startup, Capital expenditures (CapEx) are not merely important; they are essential for survival and growth. Every penny or cent must be meticulously allocated, and costs must be kept to a minimum to ensure sustainability and competitiveness in the market.
In the dynamic landscape of today’s business environment, there exists a plethora of affordable alternatives that can significantly reduce expenses across various operational aspects. Telecommunications, in particular, stands out as an area where cost-saving solutions abound.
A piece of advice for new entrepreneurs is that because these cheap tools exist now, they don’t need, for example, to have a 2-3k phone system like they used to.
Mr Raftis outlines, that now it’s all subscription, no capex needed, with a running cost of a few euros per month.
“At any time, they can more easily create their own business and with the technology we provide, even a one-man or two-man show, and with the capabilities that the new systems have, the caller does not know if it is managed by one person or not. That way, they can have a more professional image and come forward and promote their solutions without much investment from the beginning. They can more easily move forward and realize their dream” Mr. Raftis expounds.
