Business of the Month : November 2023

November's Business Spotlight: AtmaState - A Pioneering Fusion of Mindfulness and Technology

Introduction:

In our "Business of the Month" feature for November, we spotlight AtmaState, a company at the forefront of integrating mindfulness with technology. Their innovative approach offers valuable insights for achieving balance and innovation in today’s fast-paced business world.

AtmaState's Approach to Mindfulness: Expanding Consciousness through Quantum Technologies:

AtmaState introduces a unique product that combines quantum technology with traditional meditation, enhancing emotional and spiritual well-being for a wide audience. This tool transcends traditional boundaries, making meditation and self-awareness practices accessible, safe, and inclusive. It provides a digital, risk-free version of traditional spiritual experiences, promising not only immediate relaxation but also long-term improvements in life quality through regular mindfulness practice.

The Entrepreneurial Path of AtmaState’s Founder:

The founder's journey from Ukraine to starting a global business is a tale of resilience and adaptability. This story highlights the importance of vision in entrepreneurship and offers practical insights into overcoming challenges and prioritizing personal well-being alongside business growth. Next, we explore the insights of the CEO on overcoming these challenges and his vision for AtmaState.

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The Interview:

Let's start with your story. What path led you to create the company?

My path to creating the company can be likened to an expedition into unknown territory, an exciting process but with an uncertain end result. As an entrepreneur, I have always sought ways to leave my mark on the world, striving for innovation and change. I grew up in Ukraine, a country with a rich cultural heritage and history that has overcome many challenges. This life experience instilled in me the iron rods of perseverance and adaptability, essential for an entrepreneur.

I knew that business was not just a way to earn money but an opportunity to make a difference. The partners I met shared with me a vision of how our product could improve people's lives, helping them find harmony and inner peace. But the idea required a broader stage, and the international market seemed like the only right direction. When the war started in Ukraine, it became a tragic but decisive moment. We realized that our message of peace and inner harmony was more important than ever. At that moment, our startup turned from an idea into a mission - to create something meaningful not only for us but for the world. Moving humanity from Homo Sapiens to Homo Happiens.

I knew that business was not just a way to earn money but an opportunity to make a difference.

Now, looking back on the path from conception to reality, what do you see?

Looking back, I see that every step, and every challenge, has made our company stronger, our product better, and our mission clearer.

What prompted you to register your business in Estonia? Can you also add information and facts from your perspective?

Estonia stood before us as a beacon of innovation and progress, a country where technological solutions go hand in hand with a favorable business climate. Transparency and efficiency are valued here, and the level of corruption is so low that you can focus on growing and developing your business without getting bogged down in bureaucratic red tape. Estonia was one of the first countries to offer e-Residency — a program that allows entrepreneurs worldwide to easily register and manage their business in the EU remotely.

This revolutionary step fully matched our philosophy and the necessity of doing business in the digital age. Estonia's innovative tax system, where there is no tax on reinvested profits, gave us more opportunities to invest back into our product and research. It's the perfect platform for startups looking to scale and expand internationally. Moreover, Estonia is part of the European Union and the Eurozone, providing a stable legal foundation and access to a single market. Coupled with a digital environment and fast government services, this offers a unique combination that is irresistibly attractive to entrepreneurs dreaming of global impact.

When we were considering a location for our company, Estonia stood out not only for its innovative policy but also for its culture of openness and receptivity to new ideas and technologies. Realizing that this is a place where the future is shaped today, the choice became obvious.

Tell us about the moments in the company that made you think, "Yes, we've done it!"

One of those emotional milestones in the history of the company was undoubtedly completing our first scientific study in Lisbon.

The study showed that our product, Atmasatsang, has a significant positive impact on participants' psycho-emotional state. It was a moment when we felt deep satisfaction that our passion and efforts brought tangible fruits.

Imagine: a team scattered around the world, working towards a goal that affects people's well-being. And now, with the data in hand, people feel better thanks to what we've created. This confirmation that we didn't just create another product, but that we're making a real contribution to improving life quality. Now, as we move to long-term research, we are overwhelmed by the grandeur of the task — we aim not only to confirm short-term effects but to explore how our product can contribute to long-term emotional and psychological well-being. It's an incomparable feeling when you see that your work has a deep and lasting impact. And every user review, every story about how Atmasatsang helped someone find the path to their true self and a happy life — that's another moment when we say to ourselves: "Yes, we've done it!". These stories inspire us not to stop and keep moving forward, bringing our mission to life.

Estonian e-Residency is becoming increasingly popular worldwide. How does this digital innovation fit into your business?

Estonian e-Residency is a real breakthrough for our business. It opens doors to the world of digital innovations, simplifying processes that traditionally required significant time and physical effort. With e-Residency, we can manage our business remotely, which is ideal for our international team and distributed work model. It speeds up everything, from company registration to signing contracts and paperwork, making all these processes paperless and transparent. This is important for us as a company engaged in online business in the fields of EdTech and mindfulness because we strive to use advanced technologies not only in our products but also in managing the company. Moreover, e-Residency expands our horizons for international collaboration, facilitating interaction with partners and clients around the world. It perfectly matches our vision, where a company born out of the ideals of mindfulness and international community can operate in a global space without borders. Estonia provides us with a platform where we can grow and develop without being limited by the physical boundaries of the country where we are registered.

Every entrepreneur faces challenges. Tell us about a problem that, once overcome, made the company even stronger.

The war in Ukraine posed a complex task for us: to preserve the team and continue working. The war divided us not only physically but also created many operational and logistical problems. It seemed that this misfortune could destroy our company. However, turning to our core principles of mindfulness and flexibility, we decided to adapt and transform our work processes. We set up virtual workspaces where everyone could connect, regardless of their location, established clear communication channels, and provided psychological support for those in the conflict zone. Furthermore, we took the opportunity to diversify our operations, expanding into other countries, which made us less vulnerable to local crises. This experience strengthened our team and confirmed our ability to adapt to extreme situations. Each team member contributed, and this brought us closer than ever. Our efforts led us not only to survive but to reach a new level of cooperation and mutual support. This experience was a testament to our resilience and ability to turn challenges into opportunities for growth and improvement.

How have eFinance's legal and accounting services helped you simplify or improve operational aspects of your business?

Partnering with eFinance transformed our approach to managing legal and accounting aspects of the business. First and foremost, it allowed us to focus on our core competencies, handing over complex and time-consuming processes of accounting and legal support to specialists.

With their help, we were able to automate and simplify many processes, such as tax reporting, planning, and auditing. They provided us access to advanced technologies and platforms that integrated with our own IT system, ensuring a continuous flow of data and allowing us to monitor the financial state of our enterprise in real time. Moreover, eFinance acted as a consultant on international taxation and business structure optimization, which was invaluable as we strive for globalization and international business development. They ensured compliance with all necessary rules and regulations and helped us find the most effective ways to expand our business. Thus, eFinance became not just a service for our business but a strategic partner, contributing to our sustainable development and expansion.

There are many ways to register a business. How did you find eFinance, and what interested you in it?

Advice from friends, as we know, carries the weight of trust and often becomes decisive in choosing business partners. eFinance was recommended to us by colleagues whose opinion we value. We were looking for a company with transparent services and a modern approach to business. eFinance caught our attention with its reputation, innovative digital solutions, and special attention to clients, which perfectly matched our needs in managing financial and legal processes.

If you could describe your experience registering a business with eFinance in three words, what would they be?

Speed – our affairs were processed incredibly quickly, which is important in the dynamic world of startups. Reliability – we could rely on eFinance for accuracy and security in all legal and financial operations. Expertise – the team demonstrated a deep understanding of our business needs and provided solutions at a high professional level.

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Final Takeaway:

As we round off our November feature on AtmaState, we're left with a story that's truly stirring. AtmaState isn't just about mixing mindfulness with tech – it's a vivid example of how blending old wisdom with new ideas can really jazz up our daily lives, both at work and beyond. Their journey is a cool reminder that being innovative doesn't mean leaving behind what's always worked. It's about creating something fresh and exciting that touches our lives in meaningful ways.