Entrepreneurship in IT and Maths – The Story of MONA AI

30 vocabulary flashcards summarizing key terms, people, milestones, strategies and concepts from the MONA AI lecture.

MONA AI

A German high-tech platform providing DSGVO-compliant, AI-supported recruitment and health-assistant products founded in April 2022.

Felix Adam

Founder & CEO of MONA AI, HR-process consultant, keynote speaker and CrossFit athlete.

Product 1 (May 2022)

MONA AI’s first commercial software release only one month after founding.

Product 2 (August 2022)

Second product iteration that extended MONA AI’s feature set for B2B recruiting.

Product 3 (April 2023)

Third major product launch, completing the initial suite and triggering strong market traction.

Market-Proof B2B Software

Status reached when a product has paying business customers and validated demand; MONA AI achieved this within seven months.

MRR (Monthly Recurring Revenue)

Predictable subscription income; MONA AI grew from €55k to €95k MRR in 2023-24.

First Mover Advantage

Benefit gained by entering a market before competitors, allowing MONA AI to lead AI recruiting for temp staffing in Germany.

Network Effects

When each additional user increases the value of the service—for MONA AI, more recruiters and candidates improve matching quality.

Economies of Scale

Cost advantages achieved when output increases; MONA AI lowers per-interview cost as user volume grows.

DSGVO Compliance

Adherence to EU GDPR data-protection rules, a key differentiator for MONA AI against cheaper replicas.

AI-Supported Applicant Interviews

24/7 automated interviews in 56 languages with ≤5-minute response time provided by MONA AI.

Automated Profile Distribution

Fully automatic forwarding of candidate profiles to clients nationwide, operating around the clock.

AI Matching

Algorithmic comparison of candidate data with German job-market requirements to recommend best fits.

Temp Staffing Industry

Sector focused on temporary labor placements; MONA AI aims to revolutionize its recruitment processes globally.

Capturing Value

The business task of converting product usefulness into revenue, profit and market power.

Measurable Value

Hard metrics like revenue, profit margin and market capitalization listed by MONA AI.

Immeasurable Value

Intangibles such as reputation, location and brand strength that also drive company worth.

Monopoly (Market Context)

A state of dominating a market segment with little competition—MONA AI’s growth goal.

Perfect Competition

Market situation with many sellers and little differentiation; the opposite of MONA AI’s strategy.

“Start Small” Strategy

Step 1 in building a monopoly: dominate a narrow niche before expanding, as advised in the lecture.

Core Values of MONA AI

Respect, trust, transparency, innovation, passion, and delivering 100 % results.

Location Advantage (Germany)

Access to top developers, 30 % lower labor costs and university incubator support for MONA AI.

Funding Steps

Sequence of business plan, sales acquisition, investor courting, and marketing to finance growth.

Advisory Board

Experienced experts such as Dr. Farsin Yadegardjam, Jürgen Ragaller, Ralf Zastrau and Christine Graeff guiding MONA AI.

Target Countries

Next expansion markets: Switzerland, France, UK, Netherlands and Belgium after DACH success.

Pipeline

List of prospective deals; MONA AI’s pipeline is filled through February 2024 aiming for €100k MRR.

Trade Fair Marketing

Offline growth tactic used by MONA AI to acquire B2B customers without ad spend.

Word-of-Mouth Propaganda

Organic referrals that fuel 20-30 % monthly growth for MONA AI.

Team and Partners

Multi-disciplinary group of developers, sales, customer success staff and industry cooperations supporting MONA AI.