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Constant Innovation is Critical for Entrepreneurs

Vab Goel
General Partner-Norwest Venture Partners
Friday, June 6, 2014
Vab Goel
Norwest Venture Partners (NVP), since inception has actively established collaborations with entrepreneurs to create successful businesses. The firm, headquartered at Palo Alto, CA manages about $5 billion in capital.

Enterprise IT is evolving at a rapid phase and this transformation to next-generation technology is creating better opportunities for start-ups. The combined impact of both enterprises and start-ups is expected to be about twenty-five percent greater than the recent times, especially considering the upcoming ten years. With the emergence of cloud computing and mass distribution through mobile app stores, we are witnessing amazing opportunities building up for start-ups in the US, Israel and India. Given the way things are, within a few years, entrepreneurs would be able to establish businesses at the international level, irrespective of the location.

The Hottest Trends
Among the fast-evolving trends, applications with the ability to automate big data analytics along with providing human-like intelligence for real-time decision-making are much followed. These applications do not require any specialized skills to function. Along with next-gen hardware and software virtualization technologies, interactive visualization technologies and applications optimized for mobile computing platforms are gaining prominence. I would also highlight enterprise applications which could be deployed within a few days as opposed to earlier requirement of years.

Journey to Success
Entrepreneurs should be willing to follow long-term goals. It is not a short process, as it takes much time to create a successful team and a company that can easily adapt to constantly altering market conditions. En route to success, innovations are critical, making it essential for entrepreneurs to innovate continuously so as to stay relevant. (As told to Arun Kant)

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