003 | "From Sleeping in Car to Building 25M Value for Visually-Impaired" (Mladen at BindiMaps)

Jun 6

Today’s guest on the “Phil with Forbes 30” podcast is Mladen Jovanovic – CEO of BindiMaps

Forbes List: Asia
Year: 2020
Category: Social Entrepreneurship

After winning the Startup World Cup in 2017, my guest, Mladen Jovanovic, met his professor Dr. Wright, and together they founded BindiMaps.

BindiMaps is an indoor navigation tool for people who are blind or visually-impaired. His professor, Dr. Wright, conceptualised the idea after being diagnosed with a rare eye disorder where she was destined to go blind.

BindiMaps restores independence to people who are blind, or vision impaired by allowing them to safely and independently navigate indoor spaces.

Since launching in 2019 in Australia Bindimaps has assisted over 1,600 people to safely reach over 2,000 destinations and have raised over $1.5M, with another $5M to be closed soon, valuing the company at $25M.

In this episode, Mladen Jovanovic shares his incredible story. Mladen Jovanovic and Phil have a lively discussion starting with:

Their strange stories on finding out they made the Forbes 30 Under 30™ list.
Phil notes how Mladen uses “Person-First” terminology to address those with a learning difference or physical difference in abilities.
Through COVID-19 Mladen explains his plan to strengthen his startup’s technology; how he reached out to customers and personally, how he changed his routine; about the new things he is experimenting with.
Phil expands on how he coaches executives on designing new routines.
Mladen talks about migrating to Australia from Serbia and not being the brightest student. A friend encouraged him to finish high school and attend university. He later entered a business competition.
Through Mladen’s story, Phil points out life’s pivot transitions, inspiration, challenges, limiting beliefs and finding opportunities.
Mladen shares his obstacles, challenges and stresses on his journey to success; building his confidence by winning the Startup World Cup in Australia and then Denmark.
He takes the next steps after reading about a woman’s disappointment in university because she was blind. He contacts her and asks how life can be better. The “aha” moment comes to Mladen that he can change a person’s life instead of just making money for a company.
Phil and Mladen discuss the proper way to communicate with a person who is blind and how one can gain insight to the people they are serving; whatever the business.
They continue with the development of BindiMaps; by creating an accessible solution compatible with iOS devices for voiceover mode. The app gives a complete description of an environment along with prompts, so the user gets a complete assessment along with encouragement to engage with the environment.
BindiMaps examples are given, explaining how environments are presented in great details. Example – “the juice bar is on the right, it has this and that and this special offer.” Example – “the restrooms are this shape with cubicles on that side and this is how the taps work.”
The program gives dignity and independence to people safely.
The discussion continues on the topic of pivotal people and mentors.
They both share their book reading tips, taking notes and how to organize those notes.
Phil prompts Mladen on the importance and example of expressing gratitude.
Mladen explains the early days of the startup with how they bumped up analytics with sending out their team members using the app in various places.
Phil sited it’s a tactic used by everyone from Reddit to Sarah Blakely.
Mladen’s next big goal – going international.

“Under 30 Seconds Round”

What is the book you’ve gifted more often than any other book, and why?
- The Success Principles by Jack Canfield
What’s one of the best investments and one of the worst investments you’ve ever made and why?
- Best - Investment in my first startup which was a failure, but got me to where I am today.
- Worst - An expensive stand up desk and I never stand up.
Favorite cheat meal?
- Extremely cheesy, extremely cheesy, deep pan pizza with a kilo of cheese.
Pretend you won the Peter Thiel Fellowship and you were going to get money to start a business instead of go to college, what’s the very first thing you’d do to start a new business?
- I would definitely go towards the automotive industry as I don’t think there’s a lot of innovation in that space
What’s something you never knew you needed?
- NURA headphones. They calibrate how your ears hear music.

In the REVIEW SECTION, please let me know…

The city / country you’re tuning in from!
How Mladen Jovanovic’s story has inspired you! And, your favorite part of this episode!
Tell me the questions you’d like me to ask future Forbes 30 Under 30 Members!

GUEST INFO: Mladen Jovanovic – CEO of BindiMaps