Our world is shaping itself in an all new way.
Startups on Decline
We are seeing a general decline of “startups” mainly those who were just jumping on the bandwagon without any serious concept, more importantly without any real entrepreneurial DNA. It actually feels like a positive self cleanup across the globe. And the old saying “the best startups come out of a crisis” continues to be of value.
The world will experience another $5 Trillion or more in economic losses in the next 6-9 months. There is no change in sight right now. 2021/22 and maybe 23 will stay as is. Digital is the new social and endangered industries like Tourism, Hospitality, Air Travel, Trade, Shopping, Luxury Products and Automobile, have no where to go in the next three years. In particular democracies are hit hard and ultra easy to stimulate groups to protest and those minorities can bring an entire nation including their economy to a halt.
Innovation needs to be financed. No matter if it is a startup, a mid-market business, an enterprise, an educational institute or a government. Non profit businesses will be hit the hardest – by order of magnitude. NGOs cannot deliver a financial return on investment. But in times when cash is king, the ROI counts. On the other hand profitable businesses who deliver a value, people pay for have it rather easy. Innovative businesses will remain to be the focus point of investors around the world.
In order to make innovation fundable, the innovation must attract investors and must match the interests of investors. In a 10 month long “Innovation Acceleration Program” we are helping teams to fully understand modern innovation methods and processes, understand the full innovation life cycle from start to re-innovation.
Moving Fast Forward
In order to keep moving forward, we initiated the following activities simultaneously:
- AUDIENCE: We expanded the audience we want to support to include SMEs.
- CONTENT: We always combine events with “Knowledge Transfer”. Moving forward we are relaying on our partners to organize events and we simply support, provide content, speak, are available for chats and networking. That way we can support more and reduce the organization overhead.
- INNOVATION: There is probably no business that has a fully functional innovation strategy. We put all our efforts into helping businesses become truly innovative – not just improve.
WIForum Business Model
As an organization we shifted to a new hybrid business model: Memberships and making services only available to memberships. Services income for resource intensive services and sponsorship for industry relevant activities.
We built up the 2021 strategy for World Innovations Forum very early this year and introduced it a few days ago to our Ambassadors in Europe, Asia, Africa and the US. The core aspects include:
- “From donations to equity funding” for all emerging nations.
- “Digital is the new social” for developed countries.
The overarching direction: Innovation is the single biggest driver for economic freedom and prosperity – which is relevant for all nations no matter where they are.