Interview

April 20, 2021

Innovation theatre killed my company: lessons from Ernit

Despite doing a lot of pilots with banks, Soren Nielsen's startup Ernit struggled to seal a real deal. Now Nielsen realises why.


Maija Palmer

8 min read

In 2015 Soren Nielsen said goodbye to a well-paid, secure job to set up a pocket money app that would help children learn about finance and saving.

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Ernit piggy bank and app
The IoT piggy bank got a lot of banks interested in Ernit, but ultimately it didn't make sense.
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Soren Nielsen, founder of Ernit
Nielsen was good at getting pilots with banks, but couldn't get them to go further.
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Death by innovation theater
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