Technology and the 21st century go hand-in-hand and it’s no surprise that today technology has become a major part of our lives. Be it from social media to education to cryptocurrency- it’s all thriving because of the advancements in technology.
PLAYBOOK, an EdTech startup (Join the waitlist!) which I built along with two incredible co founders has pushed me in a new sphere of the world. The technology space is fast and fascinating. More than $675 billion dollars was invested in tech startups globally in 2021 by venture capitalists, leading to it's all time high, pointing out the potential in the space. Here are my five key takeaways from my journey in the technology space so far:
Great Timing: With a large number of venture capitalists and investors eagerly and largely investing in tech-based startups, it's an amazing opportunity for people in the region, especially women to come forward with their ideas and solutions within the tech space.
Raise first, Build Later: Decades ago, the idea of fundraising before building the company would seem absurd, but today it’s the norm. You do not have to build your company with hopes of fundraising later on. The power of the tech space is that you can fundraise quite naturally in the ideation round (before you have anything solid set up) and start mapping out the direction of your company from there.
Fast & Exciting: With new technology popping up everyday, this space is always on the grind. It’s exciting to see the growth and how fast things move. The tech companies need to grow 20% month on month which is really fast as compared to other companies.
Positive Impact from the Start: Technology has solutions to almost anything you can think of. With the help of technology, you can create a company focusing on positive or revolutionary ideas from day 1. You shape the impact your company will make.
The World is Your Oyster: Perhaps the only positive thing the world gained from the pandemic, is the boom in tech companies worldwide. Today, you could be working from Bahrain and have customers in the USA or Spain and it’s all normal.
This isn’t an endorsement to build a tech company from scratch as it's not what everyone wants. However, if you find a way to incorporate technology into your business, you will be creating that positive impact you wanted and reach the largest audience- the whole world.
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How is Tech different from anything I have done before?
Well thought of and written Wafa and you have advised the readers to the one of best way to move forward. If I have to add just one more idea, which woukd be that, the technologies are already infeltrated if not all sectors, then the most sectors of business and thus one does not have a choice but to adapt these technologies for sustainability.