Startup Story: Rent&Go X Tehnopol Startup Incubator

Rent&Go, which is currently part of Tehnopol Startup Incubator’s growth programme, is aiming to change the parking culture in urban areas: their mobile application lets people rent out parking spaces for a couple of hours and thus earn passive income. This brings new parking spaces to the market and helps to use the urban areas in a smart way.

Let’s get to know Rent&Go better!

How did you come up with the idea to found a startup?

Our CEO Merili lived in Denmark for a year and parking problems really got to her nerves – finding a parking spot took longer than driving to the destination. At the same time there are empty private parking lots in the city where you cannot park but which are empty since many people are at work during the day. After returning to Estonia, Merili pitched her idea about using urban resources more efficiently at Estonian Business School where the initial team was assembled.

What have been the biggest challenges/failures and the biggest wins so far?

We have taken too much time bouncing the idea and trying to perfect it, but at the same time there are clients on the streets who know exactly what they need. The biggest win is surely our team. We have irreplaceable guys in development and they have a good match with the founders.

Why did you join Tehnopol Startup Incubator?

We have managed to assemble such a cool team and we can do the necessary basic things on our own, especially developing, which otherwise would be a major cost for us. This means that not having too much money is currently not an issue for us. But we are looking for good mentors, expert bystanders and important contact which Tehnopol can offer us. In Tehnopol Startup Incubator, we do not have to compete with others or do stuff for others, we can focus on the most important and make sure that our company develops.

Where do you see your startup in 1 year’s time? And in 5 year’s time?

In one year’s time, our app has been in the market for more than six months, which means that the “dirty work” of testing and perfecting has been done and we can powerfully expand in Estonian market. In five year’s time we have expanded into other Baltic states and are in the first phase of expanding to the Nordic market, which means making first steps in the Finnish and Swedish markets.

Who will be the next Estonian unicorn?

First we believe in ourselves, of course. But thanks to Estonian fertile startup soil and crazy people, you can never be too sure where this animal pops up next.

What kind of books/podcasts/magazines (or top names in your field) do you follow and would recommend to other founders?

We mostly recommend speaking to others. Do not underestimate random conversations or arguments with people who are on the same path as you. Good ideas and important wisdom are within you, speaking to others simply helps to notice, formulate, develop and then implement these ideas.

Daily we read Äripäev. The news might be depressing, but they give a good idea of the society’s views, trends, fresh data, important names and their actions. Restart is the podcast that we like.

If you’d get a chance to meet with Elon Musk, Mark Zuckerberg and Steve Jobs, what would you ask them?

What will the world be like in 100 years’ time and what are the most important and crucial developments and changes of course that will take us there?

Read more about Rent&Go from their website!

Startup Story series introduces the up-and-coming startups that are part of Tehnopol Startup Incubator’s growth programme and whose journey is worth keeping an eye on. Startup Stories can be found here.