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The COVID-19 pandemic has imposed unforeseen challenges on entrepreneurs and further accelerated a shift to digital ways of working. To stay competitive in the new economicenvironment, small businesses must be agile and adapt to shifting consumer preferences.
Alex Rinke, Bastian Nominacher and Martin Klenk launched the company as a spin-off from the Technical University of Munich, and in 2012, Celonis joined the SAP Startup Focus program, an accelerator for analytics startups building new applications on the SAP HANA platform.
If a customer is not looking to adopt your product, there may still be consulting work your team can do. In general, companies can expect to come out of accelerators at half the valuation they would otherwise have in favorable economicenvironments. Again, survival is key. How much runway should you have?
Schulman added: “Over the past year, we made significant progress in strengthening and reshaping our company to address the challenging macro-economicenvironment…While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do.
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