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E Ink

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Submitted By Francesco
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Caso: E Ink

Gestión Emprendedora

Informe de Caso Individual

Francesco Javier Serusi Pérez Olagaray

E Ink es una compañía de reciente creación con un producto innovador para el mercado de la tecnología de la visualización, la tinta electrónica, la cual está compuesta de pequeñas partículas de pintura y tinte que pueden activarse mediante una descarga eléctrica. La tinta electrónica se puede aplicar en casi cualquier tipo de superficie, y además el diseño de impresión deseado se puede actualizar desde un lugar remoto recibiendo señales de radio, lo que le da una extraordinaria ventaja competitiva. El objetivo de la compañía es lograr el papel radio, el cual podría reemplazar a todas las formas de comunicación basadas en el papel.
Se estima que el mercado para la tinta electrónica es de unos $11,600 millones de dólares, esto repartido en los siguientes rubros: Letreros de tienda $600 millones, visualizadores portátiles $3,000 millones y papel radio $8,000 millones de dólares.
E Ink es una compañía joven que nació en 1996 en el MIT por una idea de Joe Jacobson, profesor de dicha institución, al igual que accionista principal y consultor clave de la compañía. Buscando ayuda para desarrollar su idea de un libro electrónico conoció a los estudiantes Barrett Comiskey y, tiempo después, a J.D. Albert, quienes le ayudaron a investigar y desarrollar el primer prototipo funcional. Todo esto fue posible gracias a las horas de dedicación de cada uno de ellos en el proyecto, al igual que por la posibilidad de utilizar el laboratorio e infraestructura del MIT, lo cual les permitió generar muchas reseñas periodísticas y asegurar una financiación por parte de empresas patrocinadoras, algunas de ellas ya estaban involucradas con otros proyectos del laboratorio de medios del MIT.
Una vez que E Ink estaba lista para constituirse formalmente se incorporaron más personas en diferentes áreas, todas ellas gente inteligente y motivada por la idea del proyecto y apegada a la cultura y a los valores de la empresa, como el trabajo duro y el ambiente amigable o “fresco” como lo describió la revista Fortune, estos valores nacieron con los fundadores desde el inicio del proyecto. Uno de estos nuevos integrantes era Russ Wilcox quien era responsable de desarrollar el negocio, de contratar a nuevos integrantes, de las relaciones empresariales y de negociar una inversión inicial de $1,7 millones de dólares.
Para poder seguir creciendo E Ink consiguió el apoyo de una sociedad de capital de riesgo, y gracias a la cual pudo contactar a Jim Iuliano y contratarlo como presidente y consejero delegado.
Iuliano, quien es un hombre de gran experiencia, le pidió a Wilcox que en base a los siguientes 3 criterios: 1) el enfoque del mercado debía mantener a la compañía en el camino técnico hacia el papel radio 2) debía aportar ingresos en 1999, y 3) la compañía debía ser capaz de hacer crecer ese negocio hasta alcanzar los $20 millones de dólares en 3 años, trazara el camino técnico y estratégico para llegar al papel radio. Wilcox proyecto 3 etapas, la primera vender letreros de tienda (en 1999), la segunda vender a visualizadores portátiles (en 2001) y la tercera vender papel radio (en 2003).
Esta estrategia de crecimiento sin duda es muy adecuada para el momento en el que se encuentra la compañía, esto debido a que no pierde el objetivo inicial de llegar al papel radio, y tampoco se apresura a hacerlo, el empezar con los letreros de tienda les da la oportunidad de perfeccionar el producto fabricado a mayor escala, siempre es difícil pasar del laboratorio a la producción, además el grupo tiene la preocupación de poder garantizar la estabilidad y la fiabilidad del producto, esto puede ser un buen comienzo para empezar a generar ventas y gestionar las expectativas y relaciones de inversores, que como sabemos es más fácil ganar la credibilidad de un inversionista si tenemos además de una idea y un equipo bueno, una estrategia atractiva y realista. La segunda etapa de visualizadores portátiles seguramente será clave debido a que los clientes serán mucho más exigentes, con los cuales se podrán aplicar todas las lecciones aprendidas en la tapa anterior y estar listos para alcanzar la etapa 3 del papel radio, que seguramente revolucionará a la industria.
Otro punto clave que los fundadores de E Ink deben de tomar en cuenta ahora que están creciendo, triplicando al personal, cambiando de edificios físicos, etc. es el mantener la cultura y los valores, esto se debe de inculcar tanto en los empleados como a los futuros inversionistas, este es un aspecto que le preocupa a los fundadores y por lo mismo debe ser transmitido a todos los partners. E Ink es grupo heterogéneo, tiene gente muy joven sin barreras mentales y gente de mucha experiencia en el sector, lo cual es una excelente carta de presentación para los inversionistas, esto ayuda a defender la cultura y valores ante cualquier inversionista, y no caer en problemas con inversores por el perfil del grupo como fue el caso de Terracycle.
Ahora solo falta definir la estrategia cultural a seguir por la compañía, sin duda es difícil mantener la cultura “fresca” mientras más personas e inversionistas se incorporan a la compañía, pero existen ejemplos de empresas exitosas que logran tener un excelente ambiente de trabajo innovador, divertido y competitivo aplicando una estructura de “Flat lattice organization”, tal es el caso de la empresa Gore.
Una vez teniendo esta estrategia todo inversor, ya sea un business angel, un capital de riesgo o cualquier fuente de financiación verá una compañía con un producto y una estrategia completa, y será más fácil que sus exigencias se ajusten a las de la compañía, y si no es así, no es la fuente de financiación adecuada, ya que existen límites de hasta dónde una compañía está dispuesta a ceder el control.

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