How Service Industries can Impact Start-up companies?
Over the World, the Service Industries are progressively partnering with business incubators/ startup companies as they are considered as a hub for exploring new business opportunities and ideas.
Not only have the Service Industries extended their support by lending business incubator a solid entrepreneurial infrastructure in terms of sustainability of the small business, especially the early stage of the companies.
Huge Service companies are always interested to tap into the mastery of imaginative business visionaries. There are many well-known established incubators or funds mainly targeting to help the start-ups. Service Companies help Start-up companies by giving them a strong value of the proposition.
Many service industries serve as a partner for the startup business who strive hard to endeavour their entrepreneurial environment and let them focus on creativity, collaborating, generating new ideas without being disturbed by business demands as well.
In fact, many Big Service Industries can learn from startup companies. One important lesson a Startup can teach big companies is ‘Not to be a Help-up’
Startups usually share a collaborative atmosphere, while in huge organizations you can experience “bottlenecks” in which the work process, profitability and output rate are restricted due to the constant approvals. Huge organizations need to get permission or approval on various factors and mostly more time and processes are involved which may be considered as a help-up.
Here are some Service companies supporting Startups in their businessA WIN-WIN SITUATION
1. How Salesforce.com is available and efficiently serving as a cloud PAAS for many Start-up companies Entrepreneurs can build their business of Salesforce.com which extremely cost-efficient and very low development costs. Today thousands of developers are building on Salesforce cloud platform, also salesforce.com also would benefit from this because of the increased royalty payment, increasing their business’s productivity and revenue as well. This becomes a win-win situation. Especially because outsourcing is becoming more and more cost-efficient than in-house development.
2. Apple acquires the Machine Learning Startup ‘Inductive ‘to improve Siri feature apple Inc. being one the world’s largest technology firm by revenue and is the third-largest mobile manufacture. In recent times Apple acquired an ML startup called Inductive co-founded by professors from Stanford University, the University of Wisconsin, and the University of Waterloo.
3. How E-bay impacted much small e-commerce businesses? E-bay made a huge impact on much small business who mostly started their businesses from their home and made them power sellers. Today many people’s livelihood depends on selling merchandise on E-bay gets a commission of every transaction that was made on their platform.