{"id":64,"date":"2017-01-24T10:37:00","date_gmt":"2017-01-24T10:37:00","guid":{"rendered":"https:\/\/www.biznessvirgins.com\/index.php\/2017\/01\/24\/the-new-wave-of-entrepreneurship\/"},"modified":"2020-02-20T10:04:44","modified_gmt":"2020-02-20T10:04:44","slug":"the-new-wave-of-entrepreneurship","status":"publish","type":"post","link":"https:\/\/www.biznessvirgins.com\/?p=64","title":{"rendered":"The New Wave of Entrepreneurship"},"content":{"rendered":"

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There is a multi-trillion dollar economy opening up to technology faster than ever. It has been driven by trends that have changed the nature of how entrepreneurs will be characterized going forward; specifically, industry executives will be the next wave of in-demand startup CEOs.<\/div>\n
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In April of 2007, Apple changed everything with the launch of the iPhone. It is hard to imagine that it has only been 8 years since the release of the first truly pervasive smartphone, but there is no denying its impact has been world-changing. Beyond the creation of a new dimension of industry-driven, by location-based, services (and with it, a myriad of billion dollar companies), an equally significant phenomenon emerged.\u00a0By creating technology that was intuitive to the consumer masses, every person around the world started to embrace technology as more than just a work tool.<\/span>\u00a0Lawyers, doctors, car mechanics and people from every sector of the economy not only had a tool for productivity, but a piece of technology in their pocket they embraced as an intimate part of their lives.<\/div>\n
Furthermore, these new consumers could now point to a standard for usable technology. Cumbersome, enterprise legal software that won\u2019t allow a lawyer to search cases from outside the office is no longer acceptable. For those outside of the Silicon Valley silo, conversations can be heard from construction workers sitting on a lunch break saying \u201cWouldn\u2019t it be nice if there was an app to \u2026\u201d.\u00a0Unfortunately, these conversations are often too far away from Silicon Valley\u2019s ears, which are still dominated by the talk of what will be the next WhatsApp or Instagram.<\/span>\u00a0Even so, a new breed of entrepreneur is emerging who see firsthand the challenges in their industry, and with that the opportunity to make a\u00a0world-changing impact<\/a>, and these entrepreneurs\u00a0do not fit the founder archetype<\/a>\u00a0that many Silicon Valley investors look for.<\/div>\n
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Photos from http:\/\/www.ablogtowatch.com, http:\/\/securityaffairs.co, http:\/\/geniusapp.com, and http:\/\/www.rakenapp.com<\/div>\n
Previous decades saw similar shifts in entrepreneur characterizations.\u00a0The late 90s were about Harvard MBAs<\/span>\u00a0applying traditional management techniques to leverage brand new Internet technologies. The \u201caughts\u201d brought on\u00a0the \u201c22 year-old Stanford Computer Science\u201d graduate applying technology to a low hanging industry.<\/span>\u00a0Now, in this decade, we are seeing\u00a0a new wave of entrepreneurship driven by industry executives<\/span>\u00a0with deep product backgrounds leveraging technology to disrupt a traditionally non-tech industry.<\/div>\n
For the past 2 years I\u2019ve had the opportunity to see this shift firsthand as the managing partner of Silicon Valley Software Group (SVSG<\/a>), a firm of CTOs focused on helping companies with their technology strategy. SVSG has seen entrepreneurs ranging from movie producers, lead singers of platinum album rock bands, travel executives, and hedge fund managers all trying to figure out how to leverage their domain expertise through technology. After a number of similar engagements, a few observations have emerged:<\/div>\n