In order for the innovation to be successful, the design thinking methodology is used, which increases the predictability of success, speed of market penetration and reduction of investment risks in the innovation. Design Thinking – a linear follow-up
of traditional planning approaches that use the designer’s sensitivity and methods to meet the needs of people in order to, that technologically implemented and which lifelong business strategy can convert into customer value and market opportunities
(Brown, 2008).

Design thinking is an approach to solving more or less any task that is based on the methodology of solution design with a focus on human consumers, as a final consumer of a product or service. This term has been actively used in business
since 1991, when the Kell brothers from Stanford University adapted the methodology and started the design consulting company IDEO. The basis of design thinking is a nonlinear process, which consists of 5 stages:

  • empathy (examination of the environment of the project),
  •  problem identification,
  • idea generation,
  • testing
  • implementation.

Thus, under the conditions of business modernization, design thinking is the most successful technique for creating innovation not only for all the well-known companies such as Facebook, Google, Apple, Procter&Gamble, Samsung, IBM, IKEA, but also for developing a startup (Gubinsky, 2021). The process of design thinking is a set of specific criteria. The main thing in this methodology is to do something, try to do something, gain experience and do it again. This method opens the tools with which you can start to think in an innovative way (Zubkova, 2018).
In the last decade startups have become an integral part of innovative modernization of many highly developed countries. A large number of startups are implemented and help people. But despite the fact that they are so effective, startups in most cases remain without adequate support and funding and are implemented at their own risk. The term “startup” itself appeared in Forbes magazine in 1976 and Business Week in 1977 to designate companies with short operational histories.

Approximately 100 million startups are launched frequently, and more than 1.35 million of these are startups associated with new technological solutions, unfortunately not all of which are implemented due to risk. The most privy to the investment climate can be abducted by IT technologies and piece-meal intellectuals. It is noteworthy that one of the most dynamic sectors is the sphere of financial services. Time is money, and startups are able to spare this valuable resource and conduct financial operations anywhere in the world in a few seconds, for the value of gold (What insurance startups exist and how they can be useful, 2021).

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