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Understanding IoT and Its Advantages for Our Life in the Future with Ilya Sokolov

Informative, interesting, and real is what we think of our conversation with Ilya Sokolov, the CEO and co-founder of Connax. In this episode, we dive into the topic of Internet of Things (IoT), PSD2 and digital identity. Ilya also shares his journey on establishing Connax – the company that connects IoT and the world of payments – , what it takes to be a serial entrepreneur and the challenges he had to overcome to be where he is today. So get ready to learn more about all of the above and find out what advice Ilya has for future startup founders!

The market won't wait for you to develop the perfect product - at first, you need to satisfy the demand.

KEY TAKEAWAYS
  • In order to solve data privacy concerns, GDPR is not enough – it should be embedded in all ecosystems, globally. The same way we address global warming, we should be addressing security and privacy concerns. 

  • Be as agile as possible! Firstly, establish yourself – the legal side, onboard customers, receive funding, and then start your detailed business plan. Because there are so many details that make it work which you can’t calculate before getting that first customer on board.

  • Market won’t wait for you to develop the perfect product – you need to satisfy the demand at first.

  • IT is becoming more and more serious. Bring more fun, – make your job as fun and exciting as a hobby, like playing football with your friends and you’ll attract more good people.

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Ilya Sokolov

Ilya Sokolov

Ilya Sokolov is a manager, designer, and engineer, who transforms new technologies into a business and knows how to deliver them to end consumer. He has two higher degrees in management and industrial design and is involved in business development since the age of 13. After having worked for his family business for 10 years, he decided to move on to establishing his own company. So far, he's already developed 7 business ideas, of which all seven are still operating. As the most successful of the 7 he states Connax - proximity and context-aware platform that redefines how we get services and pay, with the help of IoT devices such as BLE beacons.

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Aurabear is a growth marketing agency based in Helsinki, Finland. We provide personalized growth marketing strategy and efficient marketing implementation for companies’ business.