Hey there, everyone! We've got a fresh addition to our "Founder of the Week" series, and this one is a game-changer. Meet Ronan Finnegan, the mastermind behind "spacebands LTD." Ronan's entrepreneurial journey is nothing short of inspiring, as he takes us through a whirlwind of ventures, persistence, and his latest innovation in workplace safety and well-being.
The Entrepreneurial Spirit:
What drives Ronan's entrepreneurial spirit? It's a profound belief in the power of dedication, persistence, and optimism. His journey through various business ventures showcases his unwavering commitment to exploring opportunities and making an impact.
From Vision to Innovation:
But what about spacebands LTD? Ronan's entrepreneurial path led him to create a groundbreaking multi-feature hazard alert system designed to revolutionize workplace safety, well-being, and insurance. This wearable and SaaS platform offers a multitude of hazard alerts, aiming to prevent workplace injuries, reduce staff sickness, and promote workplace wellness—all while generating a live safety data trail. Privacy is paramount, with data remaining anonymous unless users choose otherwise.
Overcoming the Odds:
The early stages of spacebands LTD were characterized by an extraordinary journey. Ronan and his team built the company from scratch using personal savings, working tirelessly from a bedroom in Bristol, UK. When the pandemic hit, they sprang into action, selling wearable contact tracing devices. Today, they've sold over 16,000 products to customers in 30 countries, securing government contracts along the way.
Building a Faithful Team:
Building a team that shares your vision is crucial. Ronan looks for individuals who have unwavering faith in their ability to deliver. It's a testament to his commitment to assembling a team that's as passionate as he is.
Shaping the Future:
What's the long-term vision for spacebands LTD? Ronan is confident it will reshape workplace safety dynamics for years to come.
The Entrepreneurial Skillset:
In Ronan's eyes, adaptability is the most vital skill for an entrepreneur.
The Driving Force:
For Ronan, entrepreneurship offers unparalleled freedom and flexibility. Each day is a unique blend of skills and connections.
Words of Wisdom:
His advice for aspiring entrepreneurs? If you believe in your idea, others will follow suit.
The Impact of Entrepreneurship:
Entrepreneurship has transformed Ronan's life, allowing him to pursue opportunities rather than routines.
Don't miss Ronan's story and the incredible journey of spacebands LTD. Visit www.spacebands.com to learn more about their mission in workplace safety and well-being. Stay inspired, and keep an eye out for our "Founder of the Week" series as we celebrate visionaries like Ronan Finnegan.
Full interview below 👇
What motivated you to start your company and how did you begin your entrepreneurial journey?
I have a strong belief that anything is possible with enough time, dedication, persistence and optimism.I have had a range of previous businesses: a social distancing tech company, a mobile app development firm (orDonate), a marketing agency (Search and Social), a hardware repair eBay business (buying and selling damaged phones and laptops), an attempt on creating a vegan protein snack brand (Tempe), an affiliate sim card channel, an arbitrage betting company, a waterproof wallet lifestyle brand...
Identifying a market need is crucial for any business. Can you share the story behind discovering the market opportunity that led to your business idea?
After gaining extensive press coverage and 1000+ customers globally with our social distancing device (including the NHS, MoD, Panasonic, Sony & Amazon), we are now pivoting to create a new multi-feature hazard alert system that will aim to change the future of workplace safety, well-being and insurance.The brand-new wearable and SaaS platform (app and web-app) will alert for a multitude of hazards that aims to protect businesses by preventing workplace injuries, reducing staff sickness, enabling workplace wellness whilst collating a paper trail of live safety data points. Employers will be able to make informed decisions about their workplace safety and will be able to monitor workplace stressors whilst prompting employees to action wellness at work.Privacy is at the forefront of development, all data will be anonymous unless the wearable user (employee) decides to attribute it to themselves manually. Effectively, an employee can decide if they want to track their safety and stress at work and if not, their company can still benefit from the company-wide dataset.
Starting a company often involves overcoming obstacles. Could you tell us about a significant challenge you faced during the early stages of your company and how you navigated through it?
Before the pandemic, we did not exist. Using only our personal savings, spacebands has been built from a bedroom in Bristol, UK. When much of the world ground to a halt in May 2020, we kicked into gear, selling wearable contact tracing devices that alerts users when they get too close and break social distancing. We have sold more than 16,000 products to upwards of 1,000 customers across 30 countries and won government sales contracts. Starting in 2020 as just a team of two, we have already proven that we can successfully bring a product to market.We have built powerful partnerships to ensure that our business continues to thrive. We have completed The Workplace Accelerator (Singapore) and are members of the UK's #1 Business Incubator Program - SETsquared (Bristol). The University of Bath, University of Bristol and University of West of England have all assisted in our growth with various research projects. UK Government-led National Physics Laboratory have aided device hardware decisions and the National Composites Centre (Catapult Scheme) are presently conducting data science research to support product development.
Building a strong team is essential for success. What qualities were you looking for when assembling your founding team, and what advice do you have for others in this regard?
We look for staff who have complete faith and belief in their own ability to deliver on a task.
Looking ahead, what's the long-term vision for the company? How do you plan to continue innovating and making an impact in your industry?
Spacebands will create a shift in workplace safety dynamics for many years to come!
What is the most important skill for an entrepreneur to have?
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What motivates you to be an entrepreneur?
I love the freedom and flexibility that this career path offers. Everyday I use different skills and contacts!
What advice would you give to someone who wants to start their own business?
If you truly believe in the idea, others will surely follow.
How has entrepreneurship impacted your life?
It has enabled me to be driven by a search for opportunity rather than routine (like traditional professions).
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