Startup story #19 - VISUA

Counterfeit detection, product authentication, brand presence monitoring, campaign performance analytics - all these use cases are based on image recognition technology developed by VISUA, a leading provider trusted by global brands that started from Ticino. In this short interview, Luca Boschin, CEO and Co-Founder, shares insights from his entrepreneurial journey and talks about VISUA’s story.

What does VISUA do now and where did it all start?

At VISUA we build and sell image recognition technology, focusing specifically on logo detection, that is then used by our clients to build different types of products that they need, which can go from media monitoring tools to counterfeit detection platforms. We did not land too far off the original idea behind VISUA, which was to build a consumer app that could scan logos and provide specific information on the product, except that we now focus only on the technology part. Over the years, we moved to a B2B model where we license it to different companies, without building our own products.

How did you identify this very specific customer problem, recognising logos and trademarks online?

It all started from curiosity. My business partner Alessandro and I always enjoyed working on all sorts of apps and products. Alessandro was the tech guy who was building things, and I was the one going out and telling people about our ideas and solutions we were developing to find potential clients. During these experiments, we came across the fact that there was no reliable logo detection tool on the market. At the time, Alessandro was doing his PhD in the field of image recognition at ETH Zurich, so we decided to create one and started VISUA. With no prior business experience, we just tried different things and did a few product iterations, talking to as many people as possible, before ultimately figuring out that many businesses were interested in the underlying technology rather than in an app.

The technology landscape evolves rapidly, how do you make sure to be on top of the wave and differentiate yourself from the competition?

I think the key is not to get scared. New technologies can also help you, if you manage to integrate them in a way that creates value for your clients. Ours is a very small market. When we started, we had a bunch of competitors in the US that were bigger than us, but we managed to survive and now we are almost the only ones. From my own experience, the key differentiator is listening to your clients and adapting the product to help them achieve their goals.

VISUA is headquartered in Ireland, how did you move there?

We started when I was studying at USI and Alessandro was doing his PhD at ETH, and for some time it was a side project. In 2014, we founded a company and started working on VISUA full-time, closing our first funding round in parallel. One of the investors was the Irish Government, so we had a chance to visit Dublin. What we found there was a vibrant ecosystem with many startups and international tech companies. This was an opportunity for us to learn from others, so we decided to move there. Now we are a full remote company with close to 50 employees and I am based in Lugano.

The company grew from 2 to 50 employees, was it difficult for you as the CEO?

There are always ups and downs, so it goes back to doing what needs to be done even if it is unpleasant. As long as your customers want to buy your solution and the business is growing, you find the answers to any challenge. We managed to attract qualified people who wanted to work with us and who share our values and approach. It takes a bit of luck, but also a clear understanding of what you are looking for.

3 quick questions to wrap it up:

• What is the one most important skill for an entrepreneur? – It probably depends on the company and industry. In my case, I’d say it is not giving up easily.
• Your biggest strengths and weaknesses? – Resilience, it is both a strength and a weakness as it might lead you into a rabbit hole. This is why you need to have people in your team who can challenge your choices.
• What do you think kept you together as a founding team? – We always had fun regardless of work. We truly enjoy hanging out together. But also having a complementary skillset and profiles played an important role.