Escaping the Shadow of the Traditional Startup

The Industry 4.0 technology platform is seeping into every corner of life and changing the world. Not immune to these shifts, the business market is also changing by the minute, and traditional startup entrepreneurs also need to adapt to keep pace with the market. So how can we change the traditional mindset to fit the 4.0 era?

Let’s listen to the startup stories of entrepreneurs in Israel.
According to Mr. Lebovich, Deputy Ambassador of Israel to Vietnam, Israel has a population of 8.5 million but boasts up to 6,000 innovative startups, ranking second in the world per capita. Over 80% of businesses in this country fail on their first attempt. However, the important thing is that these businesses continue to learn and adapt to achieve success.
Mr. Doron Lebovich said: “In Israel, there was an entrepreneur who started in 2000 and failed three times. However, this person was not discouraged and succeeded with a traffic jam warning software called Waze, which was acquired by Google for $1 billion. Through this story, I want to tell Vietnamese entrepreneurs not to be afraid to continue starting up when you face failure, because success will always come to you.”
Entrepreneurs share that with today’s technology, capital or a network of relationships are not necessarily the key factors for an entrepreneur’s startup journey. Whereas before, starting a business required an office, now a business might only need a computer with an internet connection.
In the 4.0 era, entrepreneurs must know how to use technology to turn ideas into real products that serve people and society.

A unique product, combined with effective communication, will create success for technology companies.

“Traditional entrepreneurs rely more on relationships to get contracts, whereas tech entrepreneurs must really focus on the product, promote the product, and have customers come to them. I think that is the difference in their startup journey,” said Mr. Le Viet Thang – CEO of 1Office.vn.

According to experts, “daring to be different” in thought and action will contribute to the success of tech entrepreneurs. To survive and thrive in today’s market, new ideas are essential if startup entrepreneurs don’t want to be left behind.
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