Sramana Mitra: We’ve discussed a lot of the use cases and scenarios on the horizon. Can you talk about what kinds of companies would you build if you were starting a company today? This is to give pointers to our entrepreneurs who are looking for problems to solve.
Flavio Gomes: That’s a great question. I think what you need to really consider when you’re looking at the IoT ecosystem is underserved markets. Think about the disruption that automation and intelligence will bring to certain types of industries. It’s happening relatively rapidly.
Because the underlying infrastructure and technology is readily available, you’re seeing new models and new applications >>>
According to a Grand View Research report published recently, the global Robotic Process Automation (RPA) market is expected to grow at 31% from $357.5 million in 2017 to $3.11 billion by 2025. A more optimistic report published by Global Markets Insights expects the industry to grow to $5 billion by 2024. Billion Dollar Unicorn Automation Anywhere is basking in the industry’s growth right now as it continues to see valuation and interest in the company skyrocket.
I am always thrilled to see great entrepreneurship in various parts of the world that are off-center. Well, here’s a great one from Detroit.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Amjad Hussain: I was born in a very small village of Pakistan.
Sramana Mitra: Where in Pakistan?
Amjad Hussain: A town about a hundred km south of Lahore. >>>
Sramana Mitra: It sounds like you’re mostly doing B2B. Is that a reasonable point?
Shuly Galili: I would say that most of our companies are B2B. We do have a few companies that are more on the consumer side, and most recently, in the esports domain.
Sramana Mitra: Can you share a little bit about the Israeli startup ecosystem’s philosophy? Is the assumption always that US is the market you’re going after or are you going after other markets as well?
Shuly Galili: European and Asian markets are always interesting and becoming more and more relevant. For a lot of Israeli companies, >>>
Sramana Mitra: My mind is running as I’m listening to you. You’re talking about a jet engine being consumed as an opex and not as a capex?
Flavio Gomes: That’s correct.
Sramana Mitra: Wow!
Flavio Gomes: That’s where the future is headed. Anything that is a depreciating asset is going to be shared.
Sramana Mitra: Can you give me a few more examples? >>>
Sramana Mitra: As I’m listening to you, I’m trying to answer the same question in this context. As we go along, the notion of composite search becomes critical.
Grant Ingersoll: Could you define that a little bit? How are you defining it?
Sramana Mitra: Context-specific things that are not just finding the data but really highly personalized, context-specific, actionable search.
Grant Ingersoll: Exactly. That is the goal here. Take working with your own email. There’s this case where you’re in this mode of getting through this. You also often have this mode where you’re searching and looking for related information. You want search and search-related things >>>
Today, we will look at the entrepreneurship eco-system in Texas.
Among our earliest Entrepreneur Journeys stories was that of Manoj Saxena and Webify that IBM acquired back in 2006. The presence of IBM and many other tech firms gives the eco-system a vibrant rhythm. Startup activity is huge in Austin, especially, and exits are not difficult to find.
In September this year, OYO Rooms checked into the Billion Dollar Unicorn club with a massive funding of $1 billion from Softbank and other investors. It is now the second most valuable startup after Paytm. >>>