In the post-pandemic era, tech entrepreneurship is becoming a key factor in successfully adapting to new realities. Rapid changes in the global economy and everyday life require founders to not only rapidly restructure their business models, but also to constantly strive for innovations that can meet the changing needs of the market.
Tech entrepreneurship differs from other forms of entrepreneurship, such as social or individual entrepreneurship, in that it is directly related to the use of advanced scientific knowledge and technology. Developing companies in this field have the rights to the latest technologies, which opens up a wide range of opportunities for creativity and development.
With tech entrepreneurship, it is possible to create unique products and services that can change existing industries and improve people’s quality of life. It is important not only to follow trends and innovations, but also to be able to successfully implement your ideas so that they benefit both the company and society as a whole.
Today Timur Egorov shares his views on adapting to new realities with us. Timur is a skilled IT entrepreneur whose professional background includes endeavours in both KidTech and Entertainment Technology.
In the post-pandemic era, startup founders need to be particularly flexible in their approach to business strategy, according to Timur. He emphasises that previous successful models may no longer work in the new environment. The new reality requires entrepreneurs to be ready to change and re-prioritise. Agile methodology can be the key to successful adaptation in a changing world.
According to Mr Egorov, Agile facilitates rapid response to change, which is critical in modern business. The core principles of the Agile manifesto emphasise the importance of flexibility, collaboration and results orientation. The main thing in Agile is not just following a plan, but being ready for constant adjustments and improvements.
Thus, company founders should adopt the Agile approach not only as a development methodology, but also as a business philosophy. Agility, communication and adaptability become key ingredients for success in the post-pandemic reality.
Mr Egorov also emphasises: ‘The post-pandemic situation has caused a significant increase in online shopping and remote working, which has led to a need for rapid adaptation for businesses.’ In this new reality, founders must be ready to offer innovative solutions that can meet the growing needs of customers in the online sphere. For example, online conferencing services and project coordination tools are now being actively developed. One of the successful examples in this direction is YouGile, a modern project management system, which Timur Egorov noted.
The next aspect that Timur Egorov noted was the transition to remote interactions. Solving this task has become essential to ensure the continuation of successful cooperation both inside and outside the company. As a result, companies involved in the development of innovative EdTech and communication tech solutions have been given the opportunity to prove themselves and offer new technologies for this process, and this has also affected the field of online learning. Tools such as online learning platforms (e.g. advanced knowledge bases), webinars and meetings tools (Zoom, Webinar.ru, Pruffme), interactive educational applications (Miro interactive whiteboards) are becoming the basis for further success in the market. Companies that are able to adapt to new conditions and offer innovative solutions will have a greater chance of success and an advantage over competitors. Therefore, in order to successfully enter the market in the new environment, it is worth paying attention to communication and education tech developments and utilising the opportunities they offer.
One of the interesting areas highlighted by Mr Egorov is simulators. They can be used to create simulators or virtual teachers with whom one can have conversations on behalf of different characters on various topics. Perplexity technology is particularly effective in this respect. It can be used for listening and vocabulary training by talking to experts in various fields or characters from famous literary works, films and cartoons. They will speak in their own unique style and use their own vocabulary.
For example, you can develop a simulation of an interview with a recruiter or a realtor during a flat purchase transaction. It is also possible to use a neural network to simulate the role of a doctor, salesperson, examiner, tax inspector or tour guide.
To summarise, Timur Egorov highlighted a few key strategies for tech businesses to adapt in the post-pandemic era.
The first strategy worth pursuing is the digitalisation of business processes. Technology enterprises should actively use modern digital technologies such as artificial intelligence, blockchain, internet of things and cloud computing. This will enable them to increase their efficiency, reduce costs and improve the quality of their products and services.
The second strategy is diversification. Technology businesses must develop multiple lines of business and not rely on just one product or service. In the post-pandemic era, the market can be unpredictable, so a variety of products and services will allow the enterprise to be flexible and adapt to changing customer demands.
The third strategy is innovation. Technology businesses should invest in research and development of new technologies. Innovation is a driving force for companies to grow and allow them to stay at the forefront of the industry. Products and services based on new technologies can attract more customers and ensure stable growth of the company.
The fourth strategy is to strengthen partnerships. Technology enterprises should actively collaborate with other companies including suppliers, partners and customers. Engaging with partners will enable the enterprise to access new markets, resources and expertise, and reduce risks and costs.