Importance of Tech Expertise for any Startup Journey
Hey there, If you’re reading this article then most probably you are someone with the passion and drive for a particular idea and are looking to start something of your own. The reason for writing this article from my side is to emphasize on the importance of having a proper tech stack and tech expertise for any start-up. The reason I use the word “any start-up” is because today in the world we live in any start-up is somehow related to tech, tech can include websites, tech based products, AI based products, services startups with websites and mobile apps etc. Now that we have established that in the current era any startup has tech as one of it’s cornerstone let’s dive straight into this short article.
Rise in start-up trend
Over the past few years, there has been a significant rise in the number of startups being founded. This trend is being driven by a variety of factors, including advances in technology that have made it easier for entrepreneurs to start and scale businesses, an increasing willingness among investors to fund early-stage ventures, and a growing recognition that entrepreneurship can be a viable and rewarding career path. The rise of startups has also been fueled by the proliferation of co-working spaces, accelerators, and other resources that provide support and infrastructure for young companies. As a result of these trends, we are seeing a proliferation of innovative and disruptive startups across a wide range of industries, all looking to make their mark and seize the opportunities of the modern economy.
Why startups fail?
Tech startups are known for their innovative ideas and the potential to disrupt traditional industries. However, despite their promise, many tech startups still fail. According to a report by CB Insights, the top three reasons for tech startup failure are: (1) no market need for their product, (2) running out of cash, and (3) not having the right team.
One key factor that can contribute to these issues is a lack of technical expertise. When tech startups do not get good experts building their tech from the initial stages, it can lead to problems with the quality and reliability of the technology, as well as difficulties in executing on the business plan.
One example of an IT-relevant startup that faced challenges due to a lack of technical expertise is Zirtual. This company provided virtual personal assistant services, but struggled to scale due to inefficient technology and management systems. As a result, the company was unable to attract and retain top talent, leading to its eventual demise.
So, how common is it for tech startups to fail due to incompetent tech? According to the same report by CB Insights, 42% of tech startups fail because they “don’t have the right team in place.” This includes both technical and non-technical roles, but it is clear that having a strong tech team is crucial for the success of any tech startup.
Minimizing the risk
To avoid this fate, tech startups can turn to specialized companies like Tensor Labs. As a niche startup tech company, we have a deep understanding of the challenges and needs of early stage startups. We offer top-notch technical expertise and can provide custom tech solutions that are tailored to the specific needs of each startup.
Despite having a small team, Tensor Labs has a track record of successfully building tech solutions from scratch for startups. In the upcoming posts, we will be sharing success stories of startups that we helped bring to life with our tech expertise.
In addition to our expertise, we also have a strong focus on saving startups money. By leveraging our global network of developers and our agile development process, we can deliver high quality tech solutions at a fraction of the cost of hiring expensive developers from other parts of the world.
Where does Tensor Labs fit in?
Tensor Labs is a leading AI and Data Science-based software company that specializes in providing intuitive AI-powered solutions. Our team of highly qualified professionals has years of diversified experience in multiple domains, including machine learning, data science, software development, and business strategy. At Tensor Labs, we have a strong focus on start-ups and are experienced in helping them reach new heights and achieve their business goals. We understand the unique challenges that start-ups face and strive to provide tailored solutions that address their specific needs. From machine learning algorithms to advanced software development, we have the expertise and resources to bring your vision to life. In addition to our technical expertise, we pride ourselves on maintaining excellent work relationships with our clients. We believe in open and honest communication and are dedicated to delivering results that exceed expectations. So if you’re looking for an AI and Data Science-based solution to take your business to the next level, don’t hesitate to contact Tensor Labs. We’re here to help you succeed.
If you are just starting up and have an idea that you genuinely believe in and want to see that idea taking it’s shape into the real world, feel free to communicate us. With our team and their expertise we not only provide the best technical expertise but also provide the services at a very reasonable rate because we understand startups.
If you want to reach out to us feel free to contact us at our LinkedIn or our Email at “info@tensorlabs.io”.
What’s Next?
In the upcoming posts we will be sharing our success stories, startups which came to us with an idea and we built their entire system from ground up to the point where they are actually live right now and their product is at a stage where it’s earning revenue for them. Stay tuned for next posts.
