In recent years, we've seen a boom in the startup space. More and more people are choosing to refrain the traditional 9-5 work in favor of starting their own business. There are a number of factors that have contributed to this growth, where technology is the driving force to disrupt the startup ecosystem and make it inclusive and decentralized.
Innovation has always been a key driver of entrepreneurship. And technology has been the biggest game changer, as it reinvents the three pillars of the entrepreneurship – build product, build team and raise capital. This has made it possible for anyone with a great idea to launch a business, regardless of their background or resources.
The low barriers to build product, team and raise capital!
Technology has made it easier than ever to build a product. There are now dozens of platforms and tools available that allow startups to launch a minimum viable product (MVP) quick and cheap. In addition, technology has made it easier to connect with customers and get feedback on products before making major investments. This has lowered the barriers to entry the market for many businesses.
Technology has also made it easier to build a team. Startups can now easily find talented individuals from around the world who can work remotely. In addition, there are many online tools that make it easy to communicate and collaborate with team members. This has made it possible for startups to tap into global talent pools and put together a high-performing team without spending a lot of money on overhead costs.
Finally, technology has made it easier to raise capital. Startups can now use online platforms to pitch their business to potential investors from anywhere in the world. In addition, there are now many alternative financing options available, such as crowdfunding and venture debt. This has made it possible for startups to raise money without giving up equity or control of their business.
By disrupting the three pillars of the entrepreneur – build product, build team and raise capital – technology has democratized entrepreneurship and created opportunities for anyone with a great idea to launch a business. And it continue to evolve rapidly – these trends are likely here stay which means we can expect continued strong growth in this sector. And yes, Sircular is here to make it happen!
Alexis is co-founder and CPO of Sircular. With more than 10 years of experience building products in the tech sector, Alexis shares his thoughts on how technology reshapes the startup ecosystem
(3 minute video)