Press Release: August 13, 2020
How startups can adapt to the new normal and ensure sustenance and growth.
In the aftermath of the pandemic, the global economy is expected to shrink by 5.2%, leaving 40% of the startups in the danger zone. Demand and funding have begun to falter; is there a way startups can survive this catastrophe? Is there a strategic way out?
Techment Technology, a leading provider of digital solutions, recently released its latest white paper- Startup Innovation and Technology - Strategies at Times of Crisis. The whitepaper illuminates the strategies that are essential for startups to navigate the overwhelming landscape changes.
The Techment team meticulously conducted research by interviewing the world's most prominent experts: professors, CXOs, thought leaders, and influencers on their views. These views and insights were then refined to shape the strategic framework that startups can effectively leverage to pivot through the crisis.
As a significant number of companies will undergo digital transformation rapidly, being digital will no longer serve as a competitive advantage. Experts have unanimously opined that startups must harness the power of data to better understand the changing customer behavior, and use the insights to fuel their innovation roadmap.
"The pandemic has disrupted the disruptors. It has shaken established business models and created new ones as we approach the new normal.” said Manish Agrawal, CEO, Techment Technology. "However, technology remains at the crux of the strategic response to create a competitive edge. Through this whitepaper, we have explored the strategic areas where startups need to focus to navigate the crisis; right from decision making, leadership, cost-cutting to technology investments. Also, we have tried to unravel the technology and innovation strategies for startups to not only survive the downturn but also in creating avenues for future growth” he added.
Download the White Paper to know about the impact of the pandemic on startup ecosystems and the strategic blueprint for startup sustenance and growth.
About Techment Technology
Techment is a digital catalyst that catalyzes solution development with its high-velocity agile delivery model. Its team consists of passionate techno-functional experts that bring an outside-in approach and work as an extension of the client's team. It is an industry-agnostic organization and works with global companies of all sizes, including disruptive startups.