Northern Ireland is one of the best places to start a startup as it has a close network of highly skilled, resilient people with entrepreneurial ideas looking to solve real problems.
It’s the skilled people with ideas that are one of the groups able to survive during these uncertain times. They have identified a solution to a real problem in a large addressable market and if the market still has demand* then startups continue to survive.
Demand in the context of the market will want the solution in the future after the crisis
The best use of the downtime for startups is to use it do build their plan, build their technology and build their go to market strategy.
Not often do founders get a chance to slow down and take time to get ahead of the game. It’s a real opportunity to knuckle down and quietly work away ready to come out the other side with a startup that takes advantage of the upward recovery economy curve.
Today we’ve been talking valuations for startups, does the current situation affect valuation?
Again even though there may be a stutter in valuations and investments in short term, it won’t be for long. The angel investor and founders that build relationships now and the pitch decks that show real value now offer real opportunity.
The startups that are lean, have good teams, solve a real problem, thinking of “where the puck might be” in terms of industry trends, have a route to market and are ready to go are the ones that will be the future employers.
It’s business as much as usual for startups. It’s time to support startups with advice, connections, customer feedback and technical help.
That’s where the network can help, founders are looking for skills, knowledge, advice and even potentially investment.
How can you help the startups of the future survive today?