Max Lyadvinsky
The world as we know it, is a consequence of the technological advancements of the centuries before us.
The evolution of humanity is strongly interlaced with technological advancement. It is an undisputable fact, backed up by centuries of innovation development, with humans bringing to life technological innovations and society completely changing as a result of that.
When 4000 years B.C. the wheel was invented in Mesopotamia, the world, as was known until that moment, changed forever. Agriculture improved, distances shortened, cultural exchanges increased, moving large objectives and constructions became easier with all the consequences of that.
Other moments in history dig a profound furrow between the past and the present. The compass invention eroded the uncertainties of the world outside human sight, as the telescopeerased any doubt about the spherical nature of the earth and the revolution of the sun around the globe. The invention of printing press, spread knowledge; steel allowed mass production; electric light freed the man from a total reliance on daylight.
That’s what technological innovation is about.
Here today, in 2021, the situation is the same than for our predecessors: Technology will be the enabler of our further development. Here today, in 2021, we have a massive advantage vs. our predecessors: the speed of technological advancement is unparalleled with any point in time in history.
Never as today, so many innovations have the power to radically disrupt all the businesses around us. Artificial intelligence, blockchain, edge computing, post quantum, VR/AR, Robotic Process Automation (RPA), Internet of behaviours (IoB) are behind the fastest evolution of an unlimited number of industries, from finance to education.
Startups have played a pivotal role in allowing this acceleration. They constantly develop and improved these new technologies, and they brought to the market customer relevant solutions, enabled by them. Despite higher resources, highly qualified personnel, and savvy commercial experience, corporations and traditional players lagged behind this startup boost.
"Startups have played a pivotal role in allowing the acceleration. They constantly develop and improved these new technologies, and they brought to the market customer relevant solutions, enabled by them"
The reasons of the startups superiority in this role of technology advancer are mainly two: speed and attitude. The first grants the possibility of reaching the market before better established players and, the second, is about constantly thinking outside the box and searching for ways to connect new technologies to consumer needs. That is ultimately what startups are about: looking the world around, identifying what could work differently, and rapidly developing an MVP which could have the potential of radically change customer behaviours.
And this is what makes us pride of our work at Bloomio. By allowing startups an easier access to the funds they need to establish their route to market, we are bringing our contribution not only to the success of a new commercial reality, but also realizing the potential to disrupt the status quo and to pave the way for further society improvement via the adoption of disruptive technologies.
The empirical evidence offers many proves of how startups and breakthrough technologies are a winning combination; however, we need to raise a warning: technology per se is useless. Disruption starts with customer’s needs, and it finds its apex when a technology delivers a better way to serve it.
We often see many ventures using hype technologies while they could implement the same product with a simpler yet more economical tech solution. For this, we recommend the approach we have adopted in conducting startup due diligence by asking a simple additional question: what would change for the consumer if your company would use a different technology?
