The grand finale of the best business ideas within this year’s free Entrepreneurship Academy, realized by the Association for the Affirmation of Culture (ASK) under the auspices of the NCR Foundation, is another proof of how daring and ready young people are today to make changes. Of the 30 selected talented finalists, who studied hard and developed their businesses and ideas for six months, Nikola Milanović, a twenty-six-year-old from Kragujevac, made the strongest impression on the expert jury, winning first place with an application designed to connect owners and pets as best as possible.
Nikola managed to stand out among the many talented entrepreneurs thanks to his innovative approach and unwavering passion for creating new business opportunities. Through this interview, we will learn more about his path to success, the challenges he faced and his plans for the future.
– Can you tell us something about yourself and your entrepreneurial journey so far?
Nikola: After my studies, I launched my first startup with the aim of creating my own product. Although I had a great desire, I lacked knowledge, which was shown over time. I learned from the mistakes that came from stepping out of my comfort zone and making my ideas come true. I am currently working with partners on the development of the startup WellPet.ai, which started a year ago.
– What motivated you to apply to the Entrepreneurship Academy?
Nikola: At the end of 2023, I applied to the Academy of Entrepreneurship in order to meet new potential partners and gain new knowledge, inspired by what I read and heard about the Academy. The period of six months of intense work and effort at the academy brought me new knowledge that I was missing.
– How did you come up with the idea for your project/business venture?
Nikola: After we decided to stop working in the first startup, I talked to my colleagues and saw that I was not the only one in the team with similar ambitions. Through several meetings where we analyzed what was achieved and what we could do next, we came up with the idea for WellPet.ai. We saw crucial mistakes and shortcomings that we corrected through the validation of our concept.
– How was your experience at the Entrepreneurship Academy?
Nikola: The first seminar left a strong impression and that’s when I became aware that the Academy would be intensive and significant. Each subsequent seminar left a stronger impression, while working with mentors brought the greatest value to me.
– What are the key things you learned during the program?
Nikola: Through working with mentors, I learned the key segments of developing a financial business model, business sustainability, as well as creating long-term and short-term goals, both personal and business.
– How did the lectures and the resource center help you in developing your idea?
Nikola : The resource center was a key tool that made it possible to determine the knowledge learned. I was able to refine my idea directly through the questions I asked during the lectures, with the mentors investing their knowledge and energy to clarify my doubts, answer my questions and initiate new ideas.
– Can you describe your project or business venture to us in more detail?
Nikola: My current project is WellPet.ai, a startup we launched a year ago with the aim of improving pet care through the application of artificial intelligence and Internet of Things (IoT) technology. WellPet.ai is a platform that provides personalized advice to dog owners, helping them with their pets’ daily health, nutrition and activity challenges. Our product was developed and validated with the help of veterinary experts, which ensures that the product does not harm pets when used, but contributes to their longevity.
– What are the main innovations or unique features of your project?
Nikola: The main innovation of WellPet.ai is the combination of artificial intelligence and IoT smart collar to provide personalized advice to dog owners. Our platform uses the data collected through the smart collar to:
- She predicted anomalies in the behavior and health of dogs.
- She understood the specific needs of each pet.
- She interpreted the dog’s emotional state.
- Provides recommendations that can improve the longevity and well-being of pets. These functionalities make our platform unique and very useful for dog owners who want the best for their pets.
– How did you identify the market and the needs of your clients?
Nikola: We identified the market and the needs of our clients through detailed research and analysis. We conducted validation by interviewing users in target markets to gain insights into trends, habits, activities and the entire ecosystem in the industry. We have also worked with mentors from the hardware and veterinary development fields to ensure that our product meets the highest standards in terms of quality and efficiency.
– What were the biggest challenges you faced during the development of your idea?
Nikola: The biggest challenge for our team so far was validation with users, which was very dynamic. We had the opportunity to change our idea and realize that we must not be in love with it, but must shape it according to the needs and feedback of the users.
– How did you overcome those challenges?
Nikola: The Academy of Entrepreneurship enabled us to work with a mentor at the right moment, who went through the methods of analysis and adoption of feedback from users in detail with all of us. Through hard work and learning, we managed to complete the validation process.
– What lessons did you learn from those challenges?
Nikola: We have learned that it is crucial to be flexible and open to change in order to adapt the idea to the real needs of the users. We also realized the importance of detailed analysis and adoption of user feedback, which is necessary for developing a successful and sustainable product.
– How has your project/business venture impacted your community or industry so far?
Nikola: Our presence has left a strong impression on the community so far. We have received a large number of applications for testing our product, which indicates a high need in the market. A group of early adopters who can still sign up on our website will help us shape and refine products that will revolutionize the pet market.
– What are your plans for the future of your project?
Nikola: Our primary goal right now is product development and its launch on the market. We plan to make the first sale early next year and gain more traction in the market to gather the key metrics needed to prepare for the next round of funding. Also, we will focus on expanding into the market of the Balkan region, where we see significant potential for growth and development in the coming period.
– Where do you see yourself and your project in five years?
Nikola: In five years, I see WellPet.ai as a leading global platform for pet care, present in markets around the world. After the successful launch and expansion to the Balkan region, we aim to enter the markets of Western Europe, and in the next few years we plan to expand to the US market as well. Our product will be continuously developed, using the latest technologies in the field of artificial intelligence and IoT. Our vision is for WellPet.ai to become so advanced that it can translate “dog talk” into human-like language, allowing dog owners to better understand their pets’ needs and emotions. We expect that through constant innovation and dedication to improving the lives of pets and their owners, we will become synonymous with intelligent pet care on a global level.
– What would be your advice for other entrepreneurs who are just starting out?
Nikola: The key advice I can give is to not wait for the right moment to start validating and researching the idea you have. The right moment is when the idea is born. I also recommend taking advantage of the resources and support of organizations like the Association for Cultural Affirmation and programs like the Entrepreneurship Academy. The energy, time and knowledge invested in the participants of these programs provide an excellent basis for a successful entry into the world of entrepreneurship. Regardless of the type of entrepreneurship, whether traditional or digital businesses, we all face similar challenges. The key is to face problems head on and not sweep them under the rug. Take initiative that will encourage your team and colleagues. This will result in the successful development of your idea and the growth of your business. Initiative and proactivity are the key elements that will lead you to success.
– What would you recommend to those who are thinking about applying to the Academy of Entrepreneurship?
Nikola: I would recommend them not to hesitate to apply because there are not many programs like the Academy of Entrepreneurship. Great organization, dedication of the team that realizes the program, experience, selflessness and transfer of knowledge of mentors who are available at all times bring security and encouragement to all participants that their idea can conquer world markets.
– How do you stay motivated and focused on your goals?
Nikola: I don’t lack motivation and focus, but the key is discipline that keeps it all at a very high level. What is crucial is also the goal to be pursued. Setting high and ambitious goals ensures that no matter how successful, that success brings with it advancement and growth. I regularly read books by successful entrepreneurs and people who for me are the embodiment of what I would like to be at some point.
– Who were your role models or inspiration in entrepreneurship?
Nikola: I entered the world of entrepreneurship with the help of world-renowned expert Simon Sinek, whose books I read with great pleasure and which instilled in me great confidence and created a vision. I often read success stories of young people who started out of a garage, which also influenced my inspiration to be constant. It is very important to say that these stories influence the power of spreading inspiration to the team.
– How do you balance between your private life and business obligations?
Nikola: It is very dynamic, it is difficult to fulfill all private obligations and wishes when you are an entrepreneur. You simply have to deny yourself something so that the business does not suffer in the early stages when you, as the founder, are most needed by your business. Also, I think it is very important to plan your time well, which sometimes provides some free time for private things.
– What inspires you the most in your daily work?
Nikola: Definitely challenges and problems that arise every day. I am also inspired by the fact that through many situations it has been proven that I have a very stable team of people who do not give up. There were very difficult moments where perhaps most ordinary people would have stopped and stopped, however, sharing the same vision and goals, we decided to fight and continue, which very quickly brought growth and excellent results.
