Why is technology dominating startups?

 Why is technology dominating startups?

      The pandemic has accelerated what seemed inevitable: Most of the startups that have succeeded in these months have to do with making the most of the technology at their disposal

      What reading does businessman Yevgeny Kayumov write about the situational scenario?

  For a few years, and especially since the pandemic, many of us have been wondering why technology has dominated startups.  Or what is the same, why tech projects dominate startups.  Well, to get some conclusions in this regard, we will use a series of recent statements from Evgeny Kayumov, an entrepreneur who was speaking with HackerNoon about the industry.

  It's while blockchain and crypto startups double their revenue, the man behind Soax Network, the fastest residential IP network, appears to be one of the best prepared to give us some answers.

  Like we said, startups have become synonymous with the high-tech industry.  It would only take a glimpse to see that over the past decade large tech hubs have sprung up in cities like Shanghai, London, Toronto and Tel Aviv.

  In this context, Kayumov offers many insights into the culture in which startups are built and why they tend to dominate the IT landscape with such a steady step.

  Reasons for the success of tech startups

  Innovation and Risk

  Innovations and risks are the main forces behind the startup's initial vision.  They affect the mood of the entrepreneur, stimulate his imagination and help him convince investors.

  Kayumov, founder of several other IT related companies, was inspired by the visions shared by many startups.  Visions that are usually very ambitious, such as trying to change global financial systems, or showing the world how useful artificial intelligence can be.

  But while these goals are challenging and have great rewarding potential, they also come with significant risks.  Precisely for this reason, failure, in terms of tech startups, is just around the corner.

  More funding

  Several female-led crypto projects that are leading the industry will serve as an example at this point.  Many of the best ideas never become tangible without significant funding.

  Tech companies create a lot of value, without going any further, when they develop an acceptance solution.  We see how the capital market competes for promising and promising new companies, when in the past the opposite was the case.  It is the advantage of having no physical location restrictions.

  In the past decade, we have also seen an increase in venture capital spread globally.

  Globalisation

  Another benefit of increasing the ability to finance is the cross-border expansion of new businesses.  Given that environments can be created more easily, and that these environments are essential for venture capital, startups must devote a lot of their efforts to showing themselves in a densely populated market.

  Ecosystem and Community Support:

  Since its inception in Silicon Valley, startup culture has been defined by a thriving ecosystem.  People, businesses, and organizations meet at the center of a technology company or hub of activity.  We can say that this working atmosphere and the exchange of experiences is part of what one would expect from them.

  Gathering stakeholders is essential, whether in a physical or digital location, because in and of itself it is able to attract other valuable participants in the ecosystem, converting them into new members or stakeholders.

  If one initiative fails, the ecosystem will be there for the second attempt with its money and talent.

  The future of startups:

  Finally, when asked about the future of tech startups, the expert said the next big advance will almost certainly appear in the field of data science and artificial intelligence.

  The current shift to remote work will also lead to changes in the way startups are hired and the role they play in the talent market.

  And if we add to this that a promising project could reach its funding target within a few days, it is clear that the times of slow but sure maturity were in the past.

  However, since anyone can address the entire audience, the competition is fiercer right now.  A core team that is fluent in English will have an almost global market.