Dealing with tech startups
Innovation pursues differentiation. Entrepreneurs struggle daily looking for the value proposition of their project, startup or company. They must search for the real needs of their customers in order to offer innovative products and services that satisfy their requirements. It is vital that business ideas represent a meaningful revolution and generate answers and solutions to real problems for the society.
We don’t have to adapt to change, we must generate it ~ Andy Stalman
The word innovation resembles a trip into the future. How do we approach the upcoming towards the present? The trends give us an estimate to where humanity is heading. The study of tendencies contributes in the forecast of where the market is moving to. It serves to take advantage of opportunities in the present to develop solutions for the future.
For every entrepreneur it is important to consider the market preferences, people inclinations, and the global trends during the development of their startup. They must get in touch with scientific and technological advances, as well as with cultural behaviors of their customers because those patterns will define clear expectations and performances during the project development.
Some entrepreneurial profiles could know about technology and they could have the technical skills to create innovation, but if they don’t have the context of customer consumption and lifestyle, their value proposition could be misoriented. Considering those risks and having the experience of development with technology-based projects, in Orion Technological Park, startups work through a strong incubation route that embraces the technical and business areas to turn the entrepreneurs and their projects through a safe trajectory and into the market. Entrepreneurs and their mentors work together for 10 months where their efforts are focused on traction and sales, funding for the startup, and technological development through the TRL (Technology Readiness Level) measurement.
The technological enterprises seek for wellness experiences for their customers, while they prioritize a conscious planet through sustainable ideas and a circular economy, generating value. Working with startups related to data and artificial intelligence (1), life sciences (2), and internet of things (3), comprises dealing with entrepreneurs who desire to impact their community with social value beyond their economic goals.
The current situation on global economy involves the speed of technological development that has been very high during the last years, so it is necessary to adapt quickly to changes. The way a traditional project works cannot be compared with the requirements and variables that a technology-based startup involves. The difference between the two models defines contrasting methodologies and resources offered to the entrepreneurs.
An integral program that provides the entrepreneur with support in his business, with technical assistance and human development areas for the team members, has an exponential impact on the project’s success. It is important to consider that a startup is not a puzzle that can be built by parts to later join them together. It must be erected on solid bases that cover the areas that will endure it into the future, including customer development, operations, funding, human empowerment, technological progress, and company management.
Isn’t there a way to break the patterns of the past and tune into our highest future possibility — and to begin to operate from that place? ~Otto Scharmer
The focus of having biotechnology-based business development programs has been given by the role of recent factors on the performance of new biotech venture. This is based on the global impact that science has made during the last decades. The role of patent systems is relevant while developing a biotech-startup. The study of its feasibility at its early stages contributes to a quick response in technological development that focuses according to the industry that the product applies to. Biotechnological projects’ management deals with the challenge of translating a technology idea into a working business case, including factors such as FDA approvals and regulatory requirements while it includes market segmentation and customer validation.
An incubation program with a focus on startups of data analysis and artificial intelligence, includes new tech touch points, such as how to deal with automated ingestion, data lake storage, text mining, automation, and block chain. Entrepreneurs need mentor accompaniment on regulatory policies, requirements, market impact, and gap analysis, as well as in decision-making based on data process, applications and generated models. Robotic process automation and machine learning play a key role across the value chain that the startup present. With characteristics of feature learning, parameter optimization, and reducing risks through an efficient utilization of resources, entrepreneurs can reach financial stability in a short period of time and be ready for seed capital.
Digital transformation is impacting businesses and society worldwide. Startups focused on IoT (Internet of Things) offer the potential to improve the living conditions of the community as well as of different industries to evolve the way of producing in manufacturing companies, for example. Operating management-systems are also impacted through automation and 4.0 industry, which allows human capital to be better used in different entrepreneurial sectors.
Innovative entrepreneurships based on technology involve the development of new products, services, and schemes in a market of a demanding society that deserves the best solutions to the needs it faces. Therefore, entrepreneurs must develop extensive and wide-ranging startups, with a long-term vision and personal commitment to face challenges in a strategic way. A key factor for founders is to never lose sight of the value proposition that their technology proposes, as well as the importance of their technical development on the financial valuation that the startup can achieve.
The main goal for entrepreneurs, mentors, and project managers is to create conscious companies that contribute to the well-being of the community. This can be achieved through scalable solutions in a sufficiently vast market size that includes enough customers in order to create a real impact with exponential development.
