This article is written by Jeremiah Uke, a Contributor Author at Etohum.
Tim Draper, a successful venture capitalist, founder of Draper University and Draper Associates, believes the startup revolution has been dominant and encourages entrepreneurs to take on new challenges and build more startups. Tim also believes that the existing technologies have provided some leverage for startups to build on, concepts like cryptocurrency, artificial intelligence, marketplace technology amongst others are currently used by startups to deliver services, for the future, more technologies have sprung up to better the way things are done.
A few factors that make this the perfect time for more entrepreneurs to build startups include:
1.Poor services, high costs
In as much as a lot of processes have become automated and more efficient, a lot of services are still delivered poorly but have high price tags on them, good examples of such services are cable tv, electricity and water services, real estate and insurance to mention a few, this provides the opportunity for entrepreneurs to go into these industries, build startups with better services and reasonable cost, changing things totally.
2. Unlimited Resources
There are currently a lot of resources and tools available for getting tasks done, tools have sprung up that make achieving anything possible, even with very little cost implications. Information on anything can be gotten on the internet, team members can now collaborate on projects using platforms like Slack, Trello, Github, and Gitlab to mention a few, Photoshop allows designers to create beautiful graphics work. Microsoft Office can be used for any kind of documentation for individuals too. There are currently a lot of free frameworks for software development, meaning startup teams can actually develop their own software and sell, at no cost at.
3. Venture Capital
In various regions all over the world, startups are starting to receive the financial attention they need, competitions for seed funding, angel networks, venture capitals have all come to stay, making it easier for entrepreneurs to grab the much need cash for them to really start up. This means entrepreneurs no longer have to worry about overcoming the inertia of putting the startup together, with the funds available, entrepreneurs can put together teams, start operations, employ a workforce, and make enough money to scale to the next level.
4. Government Policy
Gone are the times when startups used to avoid working with the government due to unfavorable policies, these days the laws are changing to become more startup-friendly, governments are paying more attention to the startup revolution, and are looking for ways to drive economic development with the startup culture.
With the technology of the future here already, startups are beginning to delve into futuristic tech and are bring the future even closer to us, there has never been a better time to join the startup train