If Your Business is Not Tech, Maybe it's Too Late
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I was recently part of the International Entrepreneurship Conclave – Connect IN in Nepal. It gave me a very interesting perspective on how to evaluate opportunity in an emerging market. The Nepal of today on the face of it looks like India a couple of decades back, but when you start looking deeper one discovers a new level of entrepreneurial passion that has the potential to change the landscape of the country. Last year, we captured the rise of Nepalese billionaire Binod Chaudhary in one of our cover story, who has made a mark in India and rest of the world and for me that would have done the market, till I met with emerging start-ups and entrepreneurs who are rebuilding Nepal fast.
The impetus for such growth, however, is happening from the top and I learnt that in a meeting with Hon’ble Prime Minister Shri KP Sharma Oli, when he shared his ideas on connecting the entrepreneurial ecosystem of Nepal and India. He has taken a stand to see Nepal emerge as the country of innovations. And, I would be watching the market closely to evaluate its potential opportunity and growth for future and keep you updated on the investment opportunities.
One often hears the most valuable resource within any company is its people; but they need to be empowered in order to make the right decisions for business success. The key to making the right decisions in office and in life is ensuring that people have timely access to the best possible information and fast communication. Both are a function of technology in current times. Our annual Tech 25 issue does just that – puts right technology out there that could empower and equip. Mind you, even if this issue does not ignite the geek in you to create a winning technology, we suggest you immediately start using technologies (mentioned in the ensuing pages) today, before it’s too late.
Having Byju Raveendran as the cover face was not merely motivated because he stands for changing education delivery but because of the fact that Raveendran has built an organization not just with a tech-first attitude but rather as a Just Do IT tech-advancement organization. This is what will give BYJU’s a life beyond his big thinking to make it a global leader.
All the entrepreneurs who have made it to the top 25 tech series have been carefully curated with their play in technology as an enabler for change in their respective sector. However, I was concerned why enough women are not coming forward in tech. We have two women building amazing businesses in the current issue but we would want to have more such talents being regarded.
With fintech being the buzzword, the banking sector has long been technology friendly, however, the small bank, which mostly serves the underserved, has remained blind-eyed to technology, are also opening upto new concepts like artificial intelligence or blockchain. More futuristic would be the article on how cryptocurrencies are encroaching the VC space. However, with lack of regulation, it would be interesting to see what future holds.
I would love to hear your feedback on this tech special edition. Also watch out for our family business special this June.
(This article was first published in the May issue of Entrepreneur Magazine. To subscribe, click here)