Technology: the great equaliser. It can empower so many players in an industry, from buyers and sellers to suppliers and competitors. It can cheapen infrastructure, and create new channels of distribution (think the internet and ecommerce). Technology has the power to change an industry’s structure, which can also lower its profitability (such as the internet and ecommerce), but it also has the ability to open up new markets across all industries.
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If we look at say a five to 15 year horizon, new or improved technologies will create market opportunities for startups to tap into across the board. As these markets grow, there will be a need for new products and services to fulfil new customer needs. In short, we will need more business ideas.
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