Data Privacy Manager: InnovX-BCR 2022 First Prize Winner Revolutionizes Privacy Management

Data Privacy Manager, a Croatian start-up, has taken the tech world by storm with their innovative cloud-based privacy management platform. Their platform features automation capabilities and centralizes preferences and consents for data processing, improving the way personal data is governed. Their hard work and dedication have been recognized, as they were awarded the first prize at the InnovX-BCR program in 2022.

The InnovX-BCR program is a startup accelerator program that provides resources and mentorship to promising startups, allowing them to refine their business strategies and products. Data Privacy Manager had the opportunity to access these valuable resources and mentorship, allowing them to further develop their platform and refine their business strategy.

We spoke with the founder of Data Privacy Manager, Drazen Orescanin to learn more about their experience with the InnovX-BCR program and their future plans. They expressed their gratitude for the opportunity to participate in the program, citing the guidance they received on market analysis, funding, and strategy as crucial in the development of their business.

Looking to the future, Data Privacy Manager has big plans. They aim to expand their platform globally, helping businesses and individuals around the world manage their personal data in a more secure and efficient manner. They plan to use the knowledge and connections gained from the InnovX-BCR program to make their global expansion a reality.

Data Privacy Manager's story is an inspiration to startups around the world. With hard work, dedication, and access to valuable resources, they have created an innovative platform that has the potential to revolutionize the way personal data is managed. Their success serves as a reminder that with the right support, any startup has the potential to achieve great things.

Below are the answers of our curious questions about them and their experience in our program:

Can you tell us about your scaleup and what inspired you to start it?

"When GDPR bill was passed in EU parliament, we saw that there was an opportunity to build software platform that will support new processes related to personal data collection, storage and processing. We have started to build Data Privacy Manager as internal startup in larger IT service company in 2017 and we carved it out to separate company Legit Software in 2022. We have now more than 150 organizations in more than 30 countries that are using DPM."

What do you think sets your scaleup apart from other companies in your industry?

"We are using machine learning algorithms for personal data discovery in unstructured data sources and not only. Our algorithm can find and clasify personal data in any language and any script. Also, we are most likely the only European company that is supporting all relevant personal data processes from data discovery to data removal – all our global competitors are US companies."

How has the InnovX-BCR accelerator helped you to develop and grow your startup?

"InnovX-BCR helped us in many ways. We have learned a lot of useful thing in many areas, we have met a lot of interesting people and we have broadened our network especially in Romania. We have reached new potential customes and partners during the program and also after the program at conferences where we were members of InnovX-BCR delegation."

What were some of the biggest challenges you faced during the accelerator program, and how did you overcome them?

"I think the biggest challenge was how to organize all our other daily tasks in our team to be able to do everything that we needed for the InnovX-BCR program. During those three months, most of my time I was dedicated to the program and I organized the rest of the team for their parts. There were also people involved from our side that were from Business Development, Technology, Sales and Marketing. We have managed to deliver all the stuff that we needed on time and in rather good quality."

How did the mentors in InnovX-BCR support your scaleup's growth and development?

"They have defintelly open some new perspectives for us. We have learned a lot from them in many areas – growth strategy, creation of business plan, internationalization, pitching to investors, presenting to potential customers."

What are some of the most important lessons you learned during the accelerator program?

"I think the most important lesson is that you always need to learn and to try to look at everything from different perspective and to challenge everything in your business model. Another important lesson was the value of the relationships in our cohort, where all the teams supported each other to be better."

What are some of the biggest milestones you have achieved since completing the InnovX-BCR accelerator, and what are your plans for future growth?

"I cannot say that in four months since the program has finished we have reached some big milesotnes. We have stable growth with several new accounts signed in our region and UK and we are progressing in development of new DPM functionalities. We have also incorporated some of the learnings in our daily business and we have adapted our strategy. We have several important events in April and May, including Select USA Investment Summit (with InnovX-BCR delegation), Podim in Slovenia, Privacy & Data Protection International Conference in Bruxelles and Global Regtech Summitt in London."

How has your experience at InnovX-BCR influenced your perspective on entrepreneurship and the tech industry in general?

"I am an entrepreneur for more than 20 years and with my partners I have bootstraped our IT services company from humble beginnings to more than two hundred employees and offices in eight countries. But I knew that I have lacked knowledge in startup world and that is the area where my perspective was influenced mostly by InnovX-BCR program."

What advice would you give to other scaleups who are considering applying to the InnovX-BCR accelerator?

"Well my advice is very simple – apply immediately, it is a great program!"

Sign up for our InnovX-BCR Scaleups Bootcamp here: https://lnkd.in/e6Rh-H8Y