IoT Tribe’s Post

While proprietary tech is a valuable asset, overemphasis in the early-stages can be misleading. Facebook and Salesforce didn’t have unique tech in the beginning, but still successfully scaled through execution and market fit. On the other hand, Theranos and Quibi had proprietary tech but failed to deliver or compete. Even with companies like Google and Tesla, it was the combination of tech and execution that drove success. Proprietary moats matter, but they’re just one part of a much bigger picture. How do you balance proprietary tech with market fit when evaluating early-stage startups?

Have you seen the #BCTechMap2024 of key players driving the technology ecosystem in B.C.? Explore how BC Tech members work together to turn startups into scaleups, and scaleups into anchors. Explore the map: https://lnkd.in/gWTzeJeF

What does it take to raise capital for deep tech hardware startups in 2024? Three major valuation drivers are Team, Commercialisation, and Tech. The Deep Tech Hardware Napkin by First Momentum Ventures demystifies the fundraising landscape and showcases milestones throughout each funding stage.👏🏽 Check out their full report via the link in the comments. ✨

Worth exploring to learn more about the tech scene in BC.

Did you know? BC's tech industry grew GDP 3x faster than the rest of BC's economy in 2023. The #BCTechmap2024 showcases how our members collaborate to transform more Startups into thriving Scaleups and Scaleups into Anchors. Thank you to our partners Amazon, BIV News, Bennett Jones, and Colliers for their support. Explore the full BC TechMap here! https://bit.ly/3Xx3VIR

Last Friday we uncovered tips on: - Invaluable experiences from the startup trenches - Triumphs and challenges of scaling Tech Ventures - Building resilient teams - Fostering innovation Check out the full fireside chat with Shweta Agrawal and Sheri Palazzo below! https://lnkd.in/eNGNnsY2

Silicon Valley is littered with the carcasses of tech startups that failed even though they had superior technology.  Here’s how to keep yours from becoming one of them:  https://lnkd.in/gK5_NGnu

If you are an entrepreneur and think the “tech” IS what matters, I suggest you stop thinking that way immediately. And listen to Heidi Roizen’s clear thoughts on the topic below. Bottom line IS if you haven’t built (or aren’t NOW building) a business which generates positive cash flow, or one which someone will invest in, you ARE NOT focused on what matters. No government grant or subsidy, media accolades about the “tech”, more engineering, nor saying “it’s in the next release”, will save you. These are dangerous distractions. Unfortunately for most entrepreneurs, you only figure that out when it’s too late. Great “tech” is like a “great” strategy, nice to talk about, but executing a great business plan is where the rubber meets the road as I like to say. Thank you Heidi for calling it out so clearly. And my sense, respectfully to the rest of world, is there are FAR MORE dead “venture” carcasses beyond than in the Silicon Valley. And what is worse is that systems in place, and the lack of supporting knowledgeable ecosystem participants - means that failures beget more “tech” failures, and worse yet a generation of entrepreneurs who won’t try again.

The #BCTechMap2024 showcases how our members collaborate to transform more Startups into thriving Scaleups, and Scaleups into industry Anchors. Thank you to our partners Amazon, BIV News, Bennett Jones, and Colliers. Explore the full BC TechMap here! https://bit.ly/3Xx3VIR

Heidi Roizen shared great insights for building successful tech start ups in Silicon Valley. Small business owners also have a few takeaways from her insights. For instance, benchmarking the costs of your business helps with proper pricing of the products or services which ultimately ensures your business is profitable. Understanding how and when revenues are realized and having a 3 to 5 year financial forecasts allows business owners to manage cash flows efficiently.