Starting your own business is an amazing journey – Haris Ioannou
Haris is a 21 year old student in the third year of an Electrical and Software Engineering course at the National Technical University of Athens in Greece. Aged only 17, he won a prize for the best engineering project in the European Union Competition for Young Scientists (EUCYS) and was also one of the five global finalists in his age category in the Google Science Fair 2013. Since starting college he has developed software for Bioassist, a company focusing on applications that help the elderly with health-related issues. In this blog entry, Haris tells us about his work and his plans for the future.
The SME Envoy Network was set up in 2011 as part of the review of the Small Business Act, the european initiative to promote Small and Medium-sized Enterprises policy. Each EU country, including Greece (the SME Envoy for Greece is also the coordinator of StartUpGreece), has nominated a national SME Envoy to complement the role of the EU SME Envoy who chairs the network. The group of SME Envoys makes up an SBA advisory group that promotes SME friendly regulation and policy making in all EU countries.
One of the initiative of the SME Envoy Network was the co-organization of TEDx Binnenhof on 31.03.2016, where Harris from Greece received the most votes from the public. We republish Harris' interview to the EU - Promoting Entrepreneurship Blog.
What are you working on at the moment? How does this fit in with your wider business development plans?
My passion is inventing and combining technologies and approaches in order to solve problems of everyday life. If I see an exciting opportunity to challenge my knowledge, skills and learn something new, the challenge is accepted.
For the past three years, I have participated in the initial stages of development of a research project aiming at assisting the independent living of elderly people. We have founded a company called Bioassist, and developed an application that remotely monitors the vital signs of older people, such as glucose and oxygen levels, blood pressure etc. in their home environment. It can also remind users to take their medication, keep a personalised health record and also lets users communicate with their relatives via video conferencing.
At the same time, over the past couple of months I have co-founded another project aiming at efficient and secure management of online passwords. Our main goal is to resolve this problem by eliminating people’s need to keep track of their passwords for websites. Our solution is a mobile application called Code Pi! We have built a new way for users to access their web accounts using their mobile device as an authentication element. Essentially you connect your phone and computer under the same Wi-Fi and when you try to log in to a website, it automatically fills in your account details for you. It is important to note that maximum security is ensured for all users by securely encrypting and storing all their credentials locally on their phones, and not on our servers.
How do you manage to balance work and life? What is a typical day like for you?
My course is considered to be one of the most challenging in my university. My modules include programming languages, control systems, high-power electronics and robotics. When I want to relax I prefer working out, by running or going to the gym, rarely reading a book and occasionally going out with friends. All of these things help me to take a break from my everyday work.
Most days, after class, I have to attend meetings at Bioassist and Code Pi or at some of my other ventures. Combining studies and work is very fascinating, because you are given the chance to apply your theoretical knowledge in practice. For example, I might have learned an algorithm during my morning class and then I have to apply it into one of my projects. However, most times it happens that I have to use an algorithm that I don’t know yet and so I need to research it. Usually I will come across this algorithm 1-2 years later in one of my classes.
What are the pros and cons of running your own business? What challenges do you have to overcome on a day-to-day basis?
So far I am not fully responsible for the day-to-day operations in any of my ventures. However, I am responsible for the majority of the technical details for each of my projects, such as selecting the new technologies that we will be implemented in new features. I like to see each project not only from a technological viewpoint, but also from a business and a research perspective.
The interesting part is when you have to combine already existing approaches and technologies or even invent some new ones to come-up with the desired solution. If the solution satisfies the problem constrains then, most of the time my team and I publish a paper or launch the feature straight into our product. I think there is definitely a distinction between open time-frame research projects and scheduled product launches, but it does not have to be discrete and watertight.
I am trying to follow this workflow for two important reasons. Firstly, as a student, I have seen multiple projects being started and then abandoned after making only a couple of publications in scientific journals. Therefore I don’t want the projects to which I commit my time to end up like this. Secondly, solving a problem following the scientific method and documenting the result has a great value for the academic community and anyone else interested in the specific topic.
How are you preparing for the next stage of your business? What advice would you give to others thinking of starting their own businesses?
Currently being an undergraduate student, I consider myself very lucky to have people who trust me and really take my thoughts and ideas into consideration. Usually, as a student, you’re not involved in the decision making process of a company, due to lack of experience and technical knowledge, especially in the tech sector.
My goal through this project is to learn as much as I can in a small and very innovative corporate environment. Since my colleagues are both older and more experienced than me, I try to be influenced by them day by day. They have already been in my position and they have probably faced many of the problems that I am encountering. I don’t know where are we going to be in the next five years, I don’t even know where are we going to be in the next three, the market is so competitive and is not as straightforward as a business plan. I am very optimistic that we will have the same focus on our products and our customers and, if this turns out to be true, then we are definitely going to be successful.
Starting your own business is an amazing journey, on which you can learn and do important things. Whether this involves managing people in a team, or making a business plan or even deploying a new feature, these are skills that drastically change the way you think and work. You have to be open to listening to ideas from your team, but you should also carve out a specific plan and lead the team to deliver your product. Many examples show that the age at which you start a company is completely irrelevant to how successful it is going to be. Success it is directly related to how determined you and your team are in delivering the promise that you have made to your customers.