Build your startup alongside industry leaders: An interview with Melanie Aregger, CEO and Co-Founder of Avelo

18.04.2024 10:00, Rita Longobardi

They say it takes a village to raise a child, but what about a startup? The path from a spark of an idea to a full-fledged business can feel like climbing a mountain. That's why we're launching a series asking seasoned startup founders who've charted this course before, to act as your own personal "startup whisperer." Our guest on this exciting climb today is Melanie Aregger, CEO and Co-Founder of Avelo. Get ready for actionable advice to help you explore the thrilling, challenging world of getting your startup off the ground.

Market research and product-market fit
How did you drive your market discovery phase?

Before we started the company, we systematically screened so-called target product profiles (TPPs) from global health stakeholders such as the WHO. They list unmet medical needs and how ideal products would be to meet those needs. We then used a lean and iterative approach to develop our product. Also, we conducted market interviews with potential customers and partners early on, gave our prototype to different users, and asked for their usability feedback.

A common recommendation to entrepreneurs is to focus: Do you concur? How did you achieve product-market fit?

I agree that focus is crucial for entrepreneurs. It helps to prioritize the most important tasks and keeps costs down. Yet, when you work on something that has not been done before, you may also want to pursue different routes to have backup plans, should one avenue not work out.

Building your team
How did you build your team? And how did you choose advisors?

Tobias and I met 10 years ago.  We briefly worked together and realized that we share a common passion: we want to do something impacting global health. He has a strong background in diagnostics product development, and I have one in business development. Thus we complemented each other well. To attract key hires and choose advisors, we looked for people who shared our passion and with whom we have successfully worked. We offer them participation in the company and the chance to work on a product that can potentially save many patient lives.
 
Leadership and decision-making
As a founder, what leadership qualities have been essential for your company’s growth? How do you approach decision-making, especially when faced with uncertainty?

As a founder, I think the most essential leadership qualities are resilience, perseverance, and leading by example. I approach decision-making by gathering relevant data, consulting with my team, board of directors, and advisors, and weighing the pros and cons of each option. I try to be flexible and open-minded, but also make (tough) decisions.



Lessons learned
What is the biggest challenge of being a founder? And what is the best reward?

The biggest challenge of being a founder is to have enough energy and positive thinking to tackle the seemingly never-ending challenges. It can be stressful and exhausting at times, but also rewarding and fulfilling. The best reward is to see our team's dedication, hard work, and their small and big steps towards bringing our breath collection device to market.

Tools
Do you have any tips for entrepreneurs in the crucial founding phase?

1. Expect a long rollercoaster ride full of ups and downs.
2. Find a co-founder(s) with whom you share the same values and working principles.
3. Build a minimum viable product, give it to potential users, and ask for honest feedback.
4. Ask for help from peers and fellow "startuppers" who can offer valuable insights and advice.
5. Learn from your mistakes and celebrate your successes.

Some recommended readings are:
 

• The Speed of Trust by Stephen Covey
• High Output Management by Andy Grove
• Scaling People by Claire Hughes Johnson