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What is Tech-Driven Industries

Chapter 5
Fostering Innovation in Venture Capital and Startup Ecosystems
Tech-driven industries are economic sectors where technology serves as a central driver for innovation, growth, and competitive advantage. These industries frequently leverage digital technologies, data analytics, and advanced automation to disrupt conventional practices and create novel business models.
Published in Chapter:
Evolution of the Start-Up Ecosystem Traditional to Tech-Driven Industries
Ancia Katjiteo (University of Namibia, Namibia)
Copyright: © 2024 |Pages: 22
DOI: 10.4018/979-8-3693-1326-8.ch005
Abstract
In recent years, the start-up ecosystem has shifted from traditional industries to a tech-driven one. This change is driven by technological advancements, evolving consumer behavior, and a thirst for innovation. Tech startups leverage digital tools, AI, and the internet to disrupt traditional sectors. They benefit from easier market entry, quicker prototyping, and global reach. Increased venture capital, angel investors, and crowdfunding support their growth. Collaboration in tech hubs like Silicon Valley fosters knowledge sharing and innovation. Established companies are partnering with tech startups to integrate innovation. This transformation democratizes entrepreneurship, enhances funding, and promotes innovation, with more changes expected in the future.
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