The Rise of Entrepreneurship

Man holding a lightbulb

Startup and New Ventures

The dream of being one’s own boss and starting your own company has been with us since people
started trading with each other. In the not too distant past, trying to strike out on your own in the
business world was filled with uncertainty, high overheads and very little support from, well, frankly
anywhere.

 

Recently a surge of entrepreneurship and startups has hit the market making it an achievable
goal for many who have the drive and interest to pursue it. So, what has changed? There are many
factors at play, but one of the largest factors is the power of the internet. With online open
collaboration and the proliferation of advertising for low cost technology options, interested people can
quickly prototype, demonstrate and validate their ideas on a wide spectrum of readily accessible tools or
platforms. Even the cost and complexity of building physical prototypes has dropped significantly with
the rise of 3D printing.

 

As the availability of technology to help develop and spread the messaging around new products
developed by individuals grew, so did the support network for people looking to start an enterprise on
their own. Government incentives, consulting firms, mentorship programs and even banking for
entrepreneurs have developed and started their own industry. This support network directly aids in
helping ensure the success of new businesses by sharing best practices and exposing entrepreneurs to
the right people at the right time to solve the right problems.

Lastly, a new generation of people entering the workforce are eager to directly influence and
become key players in the products they work on. Traditional corporations are often restricted in their
methodology, product roadmaps and software stacks and are difficult to change without realigning
goals and buy-ins of multiple stakeholders. Within a startup, individuals can help influence and directly
shape the components a product and service will take and will be able to implement change with quick
turnaround.

 

Overall, with the rise of new paradigms as project bidding, the proliferation of shared platforms,
and the wide variety of service geared towards ensuring startup success, the growth in the number of
startups and entrepreneurship ventures will clearly rise.

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