Living Soils has developed a microbiological product based on a carefully composed microbiome that stimulates and restores soil life and structurally improves soil health and fertility. This enables farmers and growers to maintain their production levels with fewer chemical inputs and fertilizers. Living Soils participated in the NOM Startup Program and Investment Readiness Program, and founder Jelena Koritic shares her experiences.
Can you tell us about your startup and the stage your company was in when you started the NOM Startup Program
'Our product is a kind of microbiological extract that can be sprayed onto fields and stimulates soil life. We were already extensively testing it and were initially looking for funding to scale up when we were referred to the Startup Program.
What was your main reason for applying?
As an entrepreneur, you naturally get very stuck in your own world. You think you know very well what works and what’s needed, while it’s actually important to test that objectively. That external validation was the main reason for me to apply.
Which tracks did you follow?
I participated in two tracks: the Startup Program and the Investor Readiness Program.
What did you learn about validatng your startup?
That it’s very important to work systematically. And that you should validate outside your own network. If people know you or are familiar with your product, their opinion isn’t really objective.
Have you been able to apply what you learned? How did that go?
I set up many interviews with potential customers. Honestly, I was a bit apprehensive about that at first, and it’s still not my favorite thing to do, but it delivered incredibly valuable information. So it’s something I’ll probably keep doing, because I don’t want to lose sight of our market.
Is there anything you would do differently now thanks to the NOM Startup Program?
I realized that we should have started looking for funding much earlier. It takes more time than you think. If we had taken that step a year earlier, we would already be much further along.
Do you have tips for other founders?
As an entrepreneur, you can’t do everything yourself. You’re not an expert in everything, such as in financing—otherwise you’d be working at a bank, right? It’s good to start by getting help.
Would you recommend the NOM Startup Program — and if so, for what type of startup founder?
I would definitely recommend it, especially for entrepreneurs working on something new or different. And particularly for those in an early stage, because it gives you structure and direction.
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