How to Attract Investors with Standards: The Success Story of Bitmovin
Standards help researchers bring their innovation to the market and give credibility over the development of an innovative technology, and start-ups and spin-offs to scale up their business. The CEN and CENELEC Innovation Plan aims at addressing venture capital investors by highlighting the benefit of standards. For venture capitalists that invest in risky innovative business, it is crucial to assess the scalability potential of the businesses they are funding. From their perspective, seeing innovative technologies that are developed with the support of standards can reduce the risk for the companies in which they invest.
Bitmovin is a successful example of a start-up that managed to scale-up thanks to standardization. The company was started as a spin-off from research at the University of Klagenfurt, in Austria. Bitmovin’s founders were involved very early in the standardization process of a new video technology and they co-created the MPEG-DASH standard, adopted as ISO/IEC 23009-1. Here you can watch the video success story of Bitmovin.
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