After spending seven years in the insurance business, Olexandra Gladyshevskaya decided to create her own startup. Olexandra and the team she brought together knew the many challenges their customers faced when trying to obtain compensation for injuries to their pets (cats and dogs). They  decided to focus their energy on creating a start-up to help these customers. 

In partnership with the Canadian company, Colonnade Insurance, Olexandra launched a microinsurance product, Spokk, to provide pet owners with health insurance, which turned out to be among the first of its kind. She knew that entering the U.S. market was important to the new company’s success, but needed to learn more about doing business there. Olexandra decided to participate in eō Business Incubators, a mentor-driven program for startups developed and supported by USAID’s Competitive Economy Program (CEP). The program helped Olexandra and her team transform a vision into a business with a well-formulated roadmap to success. 

“Our first day at ‘eō,’ we were like kids. By the time we graduated, we were grown-ups,”  Olexandra said. “At the end, we could define our weak points and our strong points and could then focus on where we needed to improve.”

Furthermore, participation in the program helped Olexandra improve team management, an area she had previously overlooked.

“Our team definitely became stronger. When we began, my focus was on our technology. I didn't believe our team dynamics would be the most important factor in our success. That changed once we were in eō,” noted Olexandra. “I needed to rebuild the team to face the challenges of running a real business. The business incubator helped me challenge my team from the very beginning. Learning the value of my team was one of the most important lessons.”

Having gained much knowledge and support from eō Business Incubators, Olexandra believes that Spokk is now ready to enter the U.S. market. “We have a stronger understanding of the markets - both Ukrainian and global - thanks to the ‘eō’ mentors who shared their knowledge and insights with us. We have a clear plan for what we need to do next. Be sure to buy your pet insurance through Spokk!”