Third Wave, Heed to Local Startups going Global!
The last couple of months at fundcloud partners, we have been meeting the business leaders from all walks in the community, educating them about our new community initiative, philosophy and ethos. A few committed community leaders came forward supporting us at the initiative, but majority of the business house leaders are still skeptical about the prospects of new tech startups generating exponential returns. We realized there is a general lack of trust in the community when it comes to investing in startups inspite of being in an era of internet business dominating the commerce space in India as a whole. I’m trying to take a broader understanding how the world around is shaping and why we should care to become agile, stay curious and compete in the world stage?
I’m student of world’s nations connected networks and commerce, stronger believer that global industry trends from the west highly influences our lives the way we lead our business, our selection of technology, education and life style management to get on par with the developed countries in the world. We as Kochi community which offers a high quality of life in comparable with any metro city in India is not exempt, infact our life styles is far more comparable with the west we are proud to emulate.
While researching & trying to understand the industry trends, always the real life Entrepreneurship lessons come from Entrepreneurs who have done it before us and set the stage for younger generation to thrive. I just finished reading a trend setter book by Mr. Steve Case, the Entrepreneur who took America Online Founder and CEO of AOL, who took the company public with a $70 Million valuation to $160 Billion dollars merger with Times warners group, one of the largest acquisition ever in the history of the Internet era ever.
With due credits and respect to the author of The Third Wave, Steve Case & Case Foundation, I’m quoting the best excerpts from the book, which can be readily applied to our local economy which I hope might serve as a call for our community leaders to act proactive and come forward in our engagement with startups.
We offers the perceptive of how trying to build America online in three wave, the First wave of the internet from 1985 -1999, ridden by the first generation of companies of the likes of Apple, Cisco, IBM, Sun microsystems, Sprint which laid the foundation for building the internet. Second Wave of companies post dotcom, from 2000–2015, with a surge in Internet usage, exponential smartphone adaption, led of explosion of social media creation & of thriving app economy led by Amazon, Google, facebook, UBER, Flipkart, Ola, Inmobi, Makemytrip, Snapchat, Waze a few to mention including our home build companies. Steve Case quotes, there are a interesting new wave is about to break, and a growing evidence that the Third wave will be defined by the Internet of Everything, a new phase of technological evolution, a phase where the Internet will be fully integrated in to every part of our lives — how we learn, how we heal, how we manage our finances,how we get around, how we work, even what we eat. That’s the Third Wave, and it’s not just coming; it’s already here.
As the Third wave gains momentum, every industry leaders in every economic sector is at risk of being disrupted. Think about what’s been happening in the Silicon valley over the past few decades and imagine what it will look like when we apply that same culture of innovation and scope of ambition to every part of our local economy, That’s the Third Wave, and it’s not just coming; it’s already here.
Every business leader from our community should be asking right now, as everyone else is about to ride the Third Wave, am I being prepared to ride or am I going to see it pass it by?
As a Entrepreneur, the trick of the trade is being more knowledge about your industry vertical, key players and influencers; working to maintain your market positioning is your everyday job. If technology can come to aid in helping your traditionally run business to ace the next wave of operations, equipping yourself with the latest technology trends, apps and tools becomes your operating network. If you were to ride a Third Wave company, it will come down to three P’s: Partnerships, Policy & Perseverance.
The winners of the Third wave will be those who chase the big-impact ideas with a sense of urgency, being methodically and diplomatically about executing them. Understanding the dynamics of your industry, having a long term view of potential partnerships and policy issues will be increasingly be per-requisities for success in the new generation wave. As far as I know of, Engaging with the emerging startups in your industry vertical is by far the best way to stay updated.
We as traditional business houses, can not be complacent about the Third Wave, and not embracing the new technology trends and failure in new generation way of operations can lead to a losing your market leadership, which I believe is something every one as a business leader should be cautious about.
At fundcloud partners, we run a hybrid model of selecting handful of emerging startups who are category defining their business, not just another tech startup with quick turn around, but creating actual value and revenues while acing a new technology trend in an otherwise conventionally run market like Virtual Publishing trying to disrupt our print publishing industry, a recipebook app to discover authentic original recipes from food bloggers, or creating a customer centric operational analytics to name a few trends we spotted locally and believe has potential to be game changers in the industry they are. Our selection criteria to work with startups is explained in infograph below,
If you want to ride the Third Wave and become more engaging, write to us at email@example.com
We are totally psyched to be part of the next wave of opportunities we will ride collectively as a community.
P.S. Views expressed here are my own and my understanding of the markets playing around the ecosystem.