TEHRAN(Bazaar) –Sam Kamani in interview with Bazaar News Agency said: Startups and particularly Tech startups have generated tens of millions of new jobs around the world.
He is a serial entrepreneur, co-Founder and CEO of Ensydr.com, the company on a mission to make trading and investment accessible to 2.6 billion gamers around the world. Since graduating in Computer Science, Sam has worked in three continents and continues to work with startups in New Zealand and the Silicon Valley. Besides advising startups, Sam has also published 2 books, "The 30 Day Startup" which became an instant Amazon Bestseller and "Business in the time of Corona".
Following is the full text of the interview:
Bazaar: In your opinion, what effect do startups have on the economic improvement of countries?
Kamani: Having worked with startups in New Zealand, India, and the USA for the last 15 years, I have witnessed the massive impact they can have on any economy.
Here are 3 key ways Startups impact an economy.
1. They bring in employment
Startups and particularly Tech startups have generated tens of millions of new jobs around the world. According to Statistics nearly every year Startups create 3 to 5 million jobs. And most of these jobs are extremely high paid compared to farming or manufacturing jobs.
2. Advance technology and productivity of a country
Startups are born out of innovation and the desire to solve problems. When these startups solve problems using innovation and new inventions they increase the productivity of any country. And productivity growth is the holy grail of wealth creation for any country.
3. Increase GDP and disposable income.
The jobs created by startups in any country are often in the technology sector. These jobs have a much higher impact on the economy of any country. Moreover startups create whole new industries that didn't exist before.
Bazaar: What strategies must governments do to support the innovation ecosystem?
Kamani:Startups are engines of growth. These are the 2 key strategies that any government must use to fuel this engine of growth.
1. Invest in entrepreneurs
Any government wanting to spur the growth of startups must invest in entrepreneurs and entrepreneurship programs. These could be via accelerators, incubators, startup related events.
The other thing that any government must do is make it acceptable to fail, failure, risk taking and entrepreneurship go hand in hand. One thing that startups in the US have done is that they accept failure and risk taking as part of the process.
2. Increase the ease of doing business
Finally governments must make it easy to setup and run a startup. Reducing bureaucracy and the paperwork needed. Also make it easy for angel investors to invest in startups at the seed and preseed level.
Bazaar: how can startups enter the international market? what strategies must be taken?
Kamani: Any new startup ecosystem needs all the support it can get to flourish into something bigger and impactful. This support can be in the form of connecting local startups with international events. Also local governments, established businesses and economic development authorities of a country should look into organising events that inspire & educate entrepreneurs.
Most countries like Iran have a huge diaspora in other countries around the world. Local startups in the middle east should reach out to established business people in international markets to get a starting point.
Finally Web3 is going to be the future of internet and international business. It breaks down the barriers and encourages decentralization. Moreover Web3 is not controlled by any one country or company. It is completely open for one to make any financial transactions. And this decentralized Finance or DeFi is going to be a game changer.
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