The knowledge that people now have about internet technology often doesn’t go beyond the limits of what many perceive as accessible only via digital gadgetry. Regardless of the amount of technical innovation that have happened in the last 10 years or so, most of what people know about internet technology rarely occurs to them as business models. Owing to such perceptions, it is quite uneasy to peg how the usual start-up businessperson could contemplate the idea of going into some kind of Internet technology as a primary business idea.
Online tech is a virtual concept and the average non-technically-inclined person might think of such only in terms of desktop computers or digital devices that also have the ability to connect to the web. To venture into such ideas for such people require a huge amount of educating one’s self with the basic information that they probably wouldn’t have the time of day to pursue. So much so that volunteering the idea of tech venture capitalism might also prove to be something much, much harder to explain — or sell people into. However, that isn’t the case anymore.
The next big thing
Tech development is hinged on the idea of “the next big thing.” Tech companies and other businesses whose products, services or brands are based around technical innovation and creations often introduce new offerings via the same idea of novelty. User experience and subsequent prolonged use practicality all follow suit as retailers, marketers and the media all celebrate new tech’s triumph both as industrial breakthrough and consumerist culture curiosity. A new smartphone, for example, would always matter to industry as another groundbreaking effort by a tech company to add to whatever currently exists in any business phone system (learn more); and as the hippest device to own today.
The potential to tap into “the next big thing” however is a novel skill that not everybody has. This is where tech venture capitalism gets into the picture. There are venture capitalists among us who are now focusing on Internet entrepreneurial daring to invest on. JP Morgan Asset Development, for example, thrives on the new tech ideas that start-ups and small businesses usually come up with and have so far developed new business built around that idea of venture capitalism. This is the new business idea that’s beginning to be wondered aloud globally: That you could venture into business by helping other smaller businesses make their ideas come true as viable sources of economic value.
Business sector strength
Tech venture capitalism currently remains a business sector strength as industrial bureaucracy and lack of adequate funding and programs that support start-ups or small businesses usually hold down governments. This is particularly glaring in third world countries with developing tiger economies like Philippines, Indonesia, Malaysia, Vietnam and Thailand. Among the governments in these economies, only Malaysia and Thailand have genuine SME support systems in place that enable institutionalized tech development programs. These are programs that encourage both the business and government sectors to finance such business models and make viable businesses out of them.
Building new tech capability is different from achieving the ability to monetize tech development. While innovators could always design-think various new ways of fashioning useful implements out of whatever tech platform they come up with, the serious business of making them functional as viable items the retail cycle seems a more challenging one to undertake. Monetizing technology executes whatever innovative idea volunteers to consumers and that is never a simple idea to tackle.