Top 5 Technology Investments Every Startup Should Make As Soon As Possible

However, to make it simple for you, we have compiled a few important financing techniques that shall help you in finding finance. For more information go to the Top 13 Technology Investments Every Startup Should Make As Soon As Possible.

5. Cloud Computing

I would recommend a startup invest in cloud computing right away, because doing so will improve business agility and flexibility. Making use of innovative technology is important. With cloud computing, your staff can work from any location where there’s access to the internet, both in the field or at home. You could even reduce costs while giving employees a more flexible work environment. – Szilvia Horvath, ELO Digital Office Corporation

4. Data Collection And Analysis Systems

Startups must test new business models and/or technology efficacy. Data collection, analysis and measurement systems are critical for building evidence and demonstrating that your business or technology provides value and can scale. Investors are more demanding of this evidence than ever before, so define your assumptions up front, identify how you will test them and then invest in the data technology. – Steven Gustafson, Noonum, Inc.

3. Knowledge Mining

Plan to leverage analytics technologies such as knowledge mining and graphing based on cognitive services such as natural language processing, text analytics, image recognition and so on. Such services are available from different cloud vendors. Leverage these tools to understand patterns in customer and employee behavior and sentiment, as well as product adoption and usage. -Vineet Arora, WinWire Technologies 

2. Look out for Crowdfunding 

Crowdfunding is a concept of collecting funds from multiple investors via social networking sites and web-based platforms for majorly business purposes. Online Crowdfunding web portals raise funds for various other purposes like social causes, charities, ideas, disaster relief, events, etc. This concept or idea helps in raising funds for start-ups or first-time business owners and also promotes social and cultural causes. India’s leading Crowdfunding platforms include Kickstarter, Ketto, Catapooolt, FuelADream, Fundable, Indiegogo, Milaap, Wishberry, etc.

1. Self-Finance your Start-up Business

Self-financing or personal investment is the best way of financing used by several business start-ups. Even when you take a loan or ask a venture capitalist or government entity to provide funding for your start-up, they still have this question; how much capital you shall be investing in your start-up? Investing your own savings is the best option for first-time entrepreneurs. In the later stages of business, you can easily opt for business loans and lenders shall not have a reason to deny it, as they will consider the stability of business, as it will be low-risk factor for them.