EDSON RENEL DA COSTA FILHO
Master Degree Entrepreneurship - MY JOURNEY AT OXIOT: how we developed a hardware startup in healthcare in Brazil from the hackathon to the first client
Class: 215, FEA-5
Adviser: Prof. Dr. Marcelo Caldeira Pedroso
Comission: Profs. Drs. Guilherme Ary Plonski, Moacir de Miranda Oliveira Júnior e Marcelo Hiroshi Nakagawa
This work is based in my experience as one of the founders of Oxiot, startup that monitors medical oxygen consumption per patient trough Internet of Things. The research problem is “how we developed a hardware startup in Brazil since the Hackathon to the first client”, which unfolds in three questions about the hardware startups literature, Oxiot journey and its contributions. This is a longitudinal study conduct from September 2015 to August 2017. The method employed is Action Research, structured in four cycles, composed by “Plan”, “Act & Observe” and “Reflect”. The research procedures are based on Process Studies. The hard and soft data collected is displayed using Strategy Narrative and Visual Mapping, and then analyzed quantitatively and qualitatively. It was sought to neutralize the tendency of the researcher's partiality by weighting with third parties. A bibliographic search was conducted in the Web of Science, Google Scholar and Google. 247 works were screened, of which 8 were selected, to which two were added by indication to the author. Of the total 10 analyzed, 3 were classified as Startup Development Models; 4, such as Business Model Development Models; and 3, as Reference Models for Hardware Startups. It was concluded that there is no specific model for hardware startup, although there are applicable concepts from the general literature. The product and the business model formation were stimulated by 36 events, mostly related to the Management System and Open Innovation Subcomponents of the Business Model. The comparison between the Oxiot experience and 5 literatures resulted in 66 notes; being 30 confirmations and 36 contributions; which were summarized in the Oxiot Manifesto, which states the lessons learned in Management System and in five Functional Strategies. In addition, 7 contributions to the practice were listed, such as management tools and investment techniques, including Corporation-Startups Investment Models; and two cases were developed, one about GE Ventures actuation, and another, as a study case, about valuation and investment in early stage startups based on real events. It is concluded that this work fulfilled its purpose and brought results beyond the initial scope, contributing to the practice, theory and teaching of entrepreneurship. It is suggested that "functional strategies" could be the conciliatory element missing between startup development models, hardware practices and strategic management; and they could be the base for a specific hardware startup literature. Hypotheses that stands as a suggestion of future research.
* Resumo fornecido pelo autor