A startup’s strategy: doing good sets the stage for doing well

Abstract

Purpose Maor Zlotzever, a 32-year-old Israeli entrepreneur, was inspired to devote himself to his startup, Axios, by a youthful dream of giving customers genuine value that will improve lives. Design/methodology/approach This case looks at an entrepreneurial non-profit innovator diversifying into the hydroponics market. Findings Maor began working on the development of Axios’ hydroponics division as a way to maximize the production capacity of facilities for growing food plants without soil. He and his team designed a simple modular system that requires no computer and can be adapted to use solar power or biogas to drive the hydroponics pump and be energy-neutral. The compact system will sell for much less than competitors’ devices and requires very little “hands on” adjustment while the vegetables are growing. Practical implications Maor learned several lessons through his efforts to obtain resources for his project: organizations that position themselves as promoters of the entrepreneurial community often were not inclined to devote resources to idealistic inventions. In contrast, large, supposedly less entrepreneurial organizations like the Ministry of Education, Haifa University and the Israel Institute of Technology, as well as reformist groups like the green organizations, offered support, aid and encouragement. Social implications As Steve Jobs said, “People who are crazy enough to think they can change the world, are the ones who do.” Originality/value In theory, financial success follows continuous innovation to provide unique value to customers. So far an entrepreneurial innovator intent on doing good by giving customers genuine value that will improve lives is learning to succeed.