Tech startups deal with software, cloud computing and mobiles. on the other hand, Hard tech startups are mostly concerned with materials, energy and Lifesciences. It is shocking that the criterions governing the success of both are completely different and thus a basic playbook cannot be used for both categories by an entrepreneur. However, in the past decade, tech startups have followed a particular trend in order to remain successful such as;
- Building products that fit into the big market by taking advantage of the rising smartphone market and also cloud computing technologies.
- Putting together a team of engineers, managers and designers to facilitate lean software development and growth methodologies.
- Using the right mix of “Tried and true” as well as the “out of the box” business strategies in order to expand larger and faster with the assistance of right executives.
Although it sounds really simple, it is extremely difficult to implement them and the pattern is completely different for Hardtech startups. Read More>>