ReportWire

Tag: EC Column

  • Hire mindset over skill set | TechCrunch

    Hire mindset over skill set | TechCrunch

    [ad_1]

    Joshua Wöhle
    Contributor

    Joshua Wöhle is CEO at Mindstone, transforming daily learning from articles, podcasts, and videos into a quantifiable skills profile, much like LinkedIn. He personalizes your learning experience but also aligns it with your career goals or your company’s objectives, making every learning moment count.

    My career is rooted in the tech industry, but the lessons learned there are universally applicable across all sectors. Tech has always been synonymous with a frantic pace of change; the industry conjures up images of engineers working at breakneck speed to deploy new version after new version, with stagnation being a dirty word.

    AI is spreading this speed of innovation further and accelerating the workplace cadence across all sectors. As company founders, this allows us to look closely at the trends and strategies within the tech industry and use these insights to predict what will happen everywhere, shaping our hiring approaches for the next few years.

    CTOs (chief technology officers), often responsible for the hiring and firing of talent in tech, are the canaries in the coal mine when it comes to future-proof recruitment. They have been operating in a high-speed moving environment for longer than most. As the pace of change accelerates for all of us, they’ve uniquely positioned to identify emerging trends and shifts, particularly in skills and roles that are gaining or losing relevance. Their decisions and insights, therefore, provide valuable foresight into the new demands of the tech industry.

    In a recent survey I conducted with leading CTOs, a consensus emerged in hiring for longevity rather than immediacy, not prioritizing traditional skills but instead placing emphasis on adaptability and problem-solving acumen. I know this firsthand, having dropped out of university twice due to its rigid structure. Only later in life did I understand the key to success, and it’s not about formal qualifications but rather a willingness to learn and adapt. In engineering teams, it’s not just conventional technical skills, such as coding in the case of tech, but rather the aptitude for learning, teamwork, and proactive problem-solving.

    Only later in life did I understand the key to success, and it’s not about formal qualifications but rather a willingness to learn and adapt.

    Generative AI making more inroads into workflows, as seen recently in companies like Duolingo, is a timely reminder that the need to adapt is now here. The company cut its contractor workforce by 10%, using AI to fulfill some of its duties, hinting that imminent change is here. This move signals a broader trend: The ability to adapt swiftly and proficiently utilize new technological tools is becoming indispensable.

    The shift toward AI-driven changes in the workforce underlines the importance of upskilling. More importance should be placed on upskilling existing employees rather than recycling workforces. Telecom giant AT&T is an excellent example; after conducting a skill gap analysis, they found that almost half of their employees needed more adaptable skills for the company’s future needs. Instead of extensive recruitment, AT&T focused on upskilling and reskilling initiatives, particularly in areas like AI. In 2022, the company spent $135 million on employee learning and development, providing online education platforms for convenient learning opportunities.

    What does this mean for startups? Upskilling, especially in fields like AI, is more than just a remedy for skill shortages. It is a strategic long-term investment and will help cultivate a dynamic, adaptable workforce, which is crucial for driving innovation and growth in your business.

    [ad_2]

    Carrie Andrews

    Source link

  • Ask Sophie: What changes are in store for PERM? | TechCrunch

    Ask Sophie: What changes are in store for PERM? | TechCrunch

    [ad_1]

    Sophie Alcorn
    Contributor

    Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.
    More posts by this contributor

    Sophie Alcorn, attorney, author and founder of Alcorn Immigration Law in Silicon Valley, California, is an award-winning Certified Specialist Attorney in Immigration and Nationality Law by the State Bar Board of Legal Specialization. Sophie is passionate about transcending borders, expanding opportunity, and connecting the world by practicing compassionate, visionary, and expert immigration law. Connect with Sophie on LinkedIn and Twitter.

    TechCrunch+ members receive access to weekly “Ask Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.

    Dear Sophie,

    Our HR and operational consulting firm works primarily with tech startups. Would you provide an update on what we should look out for in the new year when it comes to the PERM process? Thanks!

    — Hopeful HR

    Dear Hopeful,

    Happy New Year! I’m excited about what 2024 will bring in immigration policy changes designed to attract and retain international talent in STEM fields, particularly those spurred by President Biden’s executive order on AI.

    If you haven’t already, talk with an immigration attorney about the complex PERM process, timing, risks and alternative options based on a company’s hiring situation and an employee’s immigration situation.

    Now, let me provide a bit of context about where things currently stand with the PERM process before diving into the changes you should look out for that will — or will not 🙂 — impact PERM.

    The current state of PERM

    As you know, getting PERM labor certification from the U.S. Department of Labor (DOL) is the first step required for companies sponsoring current or prospective employees for an EB-2 advanced degree or exceptional ability green card or an EB-3 green card for professional workers. The PERM process aims to protect wages for Americans and establish that any qualified and available U.S. workers receive access to the job prior to offering a green card to the candidate.

    If you’d like additional detail about the nuts and bolts of the PERM process, take a look at this previous Ask Sophie column.

    In general, PERM requires employers to:

    [ad_2]

    Carrie Andrews

    Source link

  • Company executives can ensure generative AI is ethical with these steps | TechCrunch

    Company executives can ensure generative AI is ethical with these steps | TechCrunch

    [ad_1]

    Marc founded Faculty to help organizations make better decisions using human-led AI. For over 10 years, he has worked with government agencies and leading brands to implement impactful AI solutions.

    It’s becoming increasingly clear that businesses of all sizes and across all sectors can benefit from generative AI. From code generation and content creation to data analytics and chatbots, the possibilities are vast — and the rewards abundant.

    McKinsey estimates generative AI will add $2.6 trillion to $4.4 trillion annually across numerous industries. That’s just one reason why over 80% of enterprises will be working with generative AI models, APIs, or applications by 2026. Businesses acting now to reap the rewards will thrive; those that don’t won’t remain competitive. However, simply adopting generative AI doesn’t guarantee success.

    The right implementation strategy is needed. Modern business leaders must prepare for a future managing people and machines, with AI integrated into every part of their business. A long-term strategy is needed to harness generative AI’s immediate advantages while mitigating potential future risks.

    Businesses that don’t address concerns around generative AI from day one risk consequences, including system failure, copyright exposure, privacy violations, and social harms like the amplification of biases. However, only 17% of businesses are addressing generative AI risks, which leaves them vulnerable.

    Making good choices now will allow leaders to future-proof their business and reap the benefits of AI while boosting the bottom line.

    Businesses must also ensure they are prepared for forthcoming regulations. President Biden signed an executive order to create AI safeguards, the U.K. hosted the world’s first AI Safety Summit, and the EU brought forward their own legislation. Governments across the globe are alive to the risks. C-suite leaders must be too — and that means their generative AI systems must adhere to current and future regulatory requirements.

    So how do leaders balance the risks and rewards of generative AI?

    Businesses that leverage three principles are poised to succeed: human-first decision-making, robust governance over large language model (LLM) content, and a universal connected AI approach. Making good choices now will allow leaders to future-proof their business and reap the benefits of AI while boosting the bottom line.

    [ad_2]

    Carrie Andrews

    Source link

  • What VCs are looking for in the next wave of cybersecurity startups | TechCrunch

    What VCs are looking for in the next wave of cybersecurity startups | TechCrunch

    [ad_1]

    Casber Wang is a partner at Sapphire Ventures, where he focuses primarily on security, enterprise infrastructure, and data and analytics.

    In cybersecurity, AI often stands for “already implemented.” Security vendors have used AI-based technologies to use existing knowledge databases and address talent gaps. As an investor who focuses on backing expansion stage B2B enterprise startups in cybersecurity, AI, and DevOps, with recent investments in cybersecurity company Huntress and AI startup Weights & Biases, I feel fortunate to have a unique vantage point on both AI and cybersecurity companies set to take off in 2024 and beyond.

    From my perspective, today’s organizations face an uphill battle when protecting their data and networks. Cyber threats are becoming more frequent and severe as potential attack surfaces multiply and hackers orchestrate increasingly sophisticated schemes. Bad actors are becoming more efficient thanks to the power of artificial intelligence (AI), perpetrating more personalized attacks and reaching a larger scale, resulting in billions of dollars in business losses.

    Meanwhile, organizations of all sizes are innovating new defenses with incredible speed, often also tapping the capabilities of advanced AI. Companies are eager for solutions that enable them to step up their game. According to Gartner, global enterprise security spending will reach an estimated $188 billion this year and grow to $215 billion by 2024. Security software spending is the least likely area of IT to be cut in an economic downturn, according to Morgan Stanley.

    The next wave of successful startups will help companies harness GenAI to improve organizational productivity while preventing attacks.

    In the coming year, they’ll seek to partner with players, enabling cybersecurity teams to enhance productivity and address talent shortages while staying on top of mounting threats.

    What VCs are looking for in the next wave of cybersecurity startups

    The advent of large language models (LLMs), such as ChatGPT, has brought new opportunities for AI-driven innovation within the industry. Here are some features investors will be looking for in the next crop of successful cybersecurity startups:

    A proactive approach to customer education

    During the cloud computing revolution, many enterprises rushed to implement cloud solutions with security as an afterthought. This resulted in some cybersecurity catch-up. So far, the inverse has been true for generative AI (GenAI). While companies are eager to reap the benefits of the technology, they are hyper-aware of the risks of exposing sensitive information or breaching customers’ trust. Concerns have grown amid high-profile data leaks at companies like Samsung. In response, many companies have been gun-shy about launching GenAI initiatives, limiting usage to a small cohort or sometimes issuing blanket bans.

    [ad_2]

    Carrie Andrews

    Source link

  • Defy the odds, create a unique niche, and succeed beyond the hype | TechCrunch

    Defy the odds, create a unique niche, and succeed beyond the hype | TechCrunch

    [ad_1]

    Art Kraisingkorn
    Contributor

    Touchapon “Art” Kraisingkorn is Amity’s co-founder and chief technology officer. Art earned his MBA at the University of Cambridge and spent five years at IBM.

    There’s a common narrative that repeats itself in the tech industry. A burgeoning startup emerges with a groundbreaking concept, successfully attracts incredible VC funding, and skyrockets to unicorn status. The company then fails to deliver sustainable profit and falls from glory in a few short years (or even months, in some cases). Despite the relative slowdown in VC activity, that story has still played out over the last year and usually comes to the same ending: 90% of startups fail, 10% of which succumb within the first year.

    While the numbers paint a grim picture, one thing we recognize as innovators is that every challenge harbors a unique solution. In many cases, it isn’t the funding that holds entrepreneurs back but rather a hyper-fixation of rapid growth and flashy technology. This leads to a disregard for solving core business challenges, ultimately resulting in a lack of stability and long-term profitability. It’s critical to shift this approach and prioritize providing replicable solutions to relevant issues before investing in alluring technology products.

    Suppose the objective is to introduce an innovative solution to new, niche problems in a manner previously unseen in the market. In that case, you don’t need to be bold — you need to be daring enough to believe in your company’s clairvoyance and knowledgeable enough about the space you’re in to hold firm to that level of self-confidence, even in the face of intense headwinds.

    Here’s how to start your own category to solve niche problems

    Identify your unique value proposition

    When faced with seemingly insurmountable odds or a potential windfall investment, what is most important is that you stay true to your company’s mission.

    The most beloved and valued companies built categories where none existed to offer solutions that others couldn’t even imagine. There’s a reason why Apple has maintained its presence as the most valuable company on Earth: The emergence of the iPhone came at a time when users needed to carry their iPods, cell phones, laptops, and planners individually. For the first time, there was a single device that could be all of these items.

    Contrast that to a product like Threads, which offers a simple alteration of an existing product and has failed to maintain users. The sales pitch of “We offer the same product as what’s already in the market, just a little bit different” is far weaker than “Here’s a solution that didn’t exist before.” In my career helping brands connect with their communities on their platforms, I have witnessed how this strategy reaps greater rewards than copying existing solutions.

    In 2018–2019, I started a journey to take on traditional social giants and provide an alternative way for brands to develop online brand-centric communities. At the time, Facebook had several infamous scandals around misuse of personal data, so Amity set out on a mission to improve and democratize social networks, hoping to build them in a better form that fosters positive user interaction while respecting user data privacy.

    [ad_2]

    Carrie Andrews

    Source link

  • Seed to Series A: Strategic insights for tech founders in the 2024 venture landscape | TechCrunch

    Seed to Series A: Strategic insights for tech founders in the 2024 venture landscape | TechCrunch

    [ad_1]

    Mike Cardamone
    Contributor

    Mike Cardamone is CEO and managing partner at Forum Ventures, where he focuses on developing Forum’s investment strategy with the mission to make the B2B SaaS journey easier, more accessible, and successful for early-stage founders.

    There is no question that 2023 was a tough year for the venture and tech ecosystem. Carta revealed a dramatic decline in funding rounds and total investment, showing the total number of rounds in Q1 2023 dropping 64% and the total dollars invested dropping 86% from the peak in Q4 2021. Forum Ventures has seen firsthand how difficult the fundraising environment is for founders at all stages of this market, having invested in 100+ B2B SaaS companies this year across their accelerator and seed funds. Michael Cardamone, CEO and managing partner at Forum Ventures, spoke to emerging managers about the state of this market and reflected that “this is the hardest it has been to raise a fund in a long time.”

    In a recent report, Forum Ventures surveyed 70 funds and analyzed data from 167 closed pre-seed and seed rounds between January and October 2023 to provide a comprehensive overview of the current state of the early-stage B2B SaaS investment landscape.

    A few key findings from that report:

    • 75% of respondents noted a decrease in valuations since 2022 and the data across these rounds showed a 10% decrease from the same survey conducted last year.
    • Mean valuations at pre-seed were $9 million post and that held true for pre-revenue through $250,000 in ARR (annual recurring revenue) across the rounds data was collected from.
    • Companies with $250,000 in ARR or higher raised at a mean valuation cap of $15 million.

    Seed rounds

    As a founder, be smart in managing your cash flow, convince great people to join your company, and focus on building a product that your customers crave.

    Seed valuations have remained steady through 2022 and 2023, yet achieving the necessary traction for these rounds has become more challenging, which can create misaligned expectations for founders. In 2020–2021, it was relatively common for $3 million to $5 million seed rounds to get done with very little, if any, traction, and they were typically getting done at $12 million to $25 million valuations, depending on the space and the founders’ background.

    There are exceptions, but today’s market demands substantial early traction where companies typically need $250,000 to $1 million in ARR to raise a $3 million+ seed round and these rounds are usually getting done at approximately 20% to 25% dilution (i.e., $3 million at $12 million to $15 million post or $4 million at $16 million to $20 million post). The bar is much higher to raise an institutional seed round, and a founder/company often needs to prove a lot more in today’s market than they used to. This dynamic means that many founders have to first raise a pre-seed round to get to those milestones and therefore raise multiple rounds to get to a Series A.

    [ad_2]

    Carrie Andrews

    Source link

  • Practical advice for B2B startups raising a Series A | TechCrunch

    Practical advice for B2B startups raising a Series A | TechCrunch

    [ad_1]

    Greg Waisman is co-founder and COO at the global payments infrastructure platform Mercuryo. Mr. Waisman is an accomplished entrepreneur and business leader with deep roots in the technology market. He has a wealth of experience in full-cycle business management, establishing fintech-related startups and developing them from the ground up.

    As the fintech market is gradually recovering from the turmoil of 2022, funding is expected to increase. Moreover, projects peg the fintech industry to reach $1.5 trillion by 2030, so the market saturation will only keep growing, leading to heightened competition for investor attention.

    In conditions where many companies struggle to establish themselves amid limited funding opportunities, completing even a Series A round is a powerful symbol of your fintech project’s promise.

    As a founder of a global B2B payment infrastructure company that raised funds in different market periods and successfully endured the previous year’s challenges, I want to share some of the techniques that helped us in our efforts to secure funding and stay afloat.

    To succeed, you must present a reason to buy it

    Preliminary research needs to be as thorough as possible. You must understand the exact manner of products you create, what market niche you are attempting to cover, who your key clients are, and how to reach them. When you have a tangible understanding of product-market fit, you can define what differentiates you from competitors and what value the product offers to potential investors.

    Transparency is critical when preparing for fundraising — investors should be able to readily access all the pertinent information regarding your business.

    Not only that, but you also need to showcase sensible traction, with clear indicators of the startup’s growth so far and how securing new funding would influence its development in the future. Growth tendencies should show the revenue output increasing at least twice a year. Present a specific request when attempting to raise funds through a round. The amount and the goals should be straightforward to the investors. Cohesively explain why you need $10 million (as an example), how long, and how you’ll achieve results during the indicated period. A concrete plan of action serves to inspire confidence.

    Business budgeting is essential. It is always better to showcase a growth forecast with a graph that goes up sustainably from quarter to quarter. If the growth line is jagged, this risks might scare off investors, who will likely think your project is too unstable for investment. Make sure the predictions are precise and not artificially bloated to look good. Doing anything less would undermine the trust of your investors.

    Set up a data room as an instrument to keep investors updated

    [ad_2]

    Carrie Andrews

    Source link

  • Startups should consider hiring fractional AI officers | TechCrunch

    Startups should consider hiring fractional AI officers | TechCrunch

    [ad_1]

    Raphael Ouzan
    Contributor

    Raphael Ouzan is the founder and CEO of A.Team, a future-of-work company pioneering the world’s first AI-enabled team formation platform.
    More posts by this contributor

    The AI skills gap is real. A recent study from Randstad, the recruitment company, found that job posts referencing generative AI skills have risen by 2,000% since March. It’s the third most sought-after skill set and one of the shortest in supply.

    The logical step for enterprise companies is to appoint a chief AI officer (CAIO) to kickstart their efforts. Earlier this year, Dylan Fox penned an opinion piece arguing that every Fortune 500 business needs a CAIO.

    “Companies that do not integrate AI into their product, operations, and business strategy will struggle to remain competitive — and fall behind those that do,” Fox wrote.

    It’s a compelling argument that makes sense at the enterprise level. But what about everyone else? Startups and scale-ups need to integrate AI just as badly — especially if they’re trying to fundraise in this AI moment. However, they often don’t have the resources or the organizational structure to support a senior executive focused exclusively on AI.

    This is where a fractional AI officer comes in. Fractional leadership is a recent workforce trend: seasoned executives with subject matter expertise working across two or more clients simultaneously, lending their talents to rapidly growing companies that need their specific skill set but can’t afford it full-time.

    Here’s the kicker: Having a fractional AI officer is superior to hiring full-time in one crucial respect. AI — especially generative AI — is such a new technology that breadth of experience across multiple companies gives fractional executives an edge over their full-time counterparts.

    The three stages of AI adoption

    While the promise of generative AI is significant, it’s hard for companies to establish a reliable ROI metric early in the adoption curve, especially in an environment where companies are expected to be more conservative in spending.

    Increasing productivity and workflow efficiency will likely be the No. 1 driver for generative AI adoption.

    Horizon 1: Workflow efficiency + productivity

    Due to the market challenges, companies are looking for ways to free up cash and lower spending to keep budgets flat in 2024. That’s why increasing productivity and workflow efficiency will likely be the No. 1 driver for generative AI adoption. A recent BCG study found that generative AI can drive significant improvements in workflows, operations, and internal tooling — participants who used GPT-4 completed 12% more tasks on average and 25% quicker than the control group without GPT-4. This is where we will see ROI first. Let’s call that Horizon 1.

    Horizon 2: Customer experience

    This is a great steppingstone into the next stage of generative AI adoption: improving customer experience. These days, customers expect drastically better — and more personalized — digital experiences. They’ll switch to your competitor if you don’t remember who they are or anticipate their needs. Generative AI can bring personalization to your digital experiences.

    [ad_2]

    Carrie Andrews

    Source link

  • How to ensure an ethical acquisition for your startup | TechCrunch

    How to ensure an ethical acquisition for your startup | TechCrunch

    [ad_1]

    When you build a startup, the best shot you have at seeing a big payday is becoming an acquisition. Sure, a handful of startups end up going to IPO. But the likelihood of acquisition beats your chances of going public by a ratio of 10 to one.

    Unfortunately, the exciting possibility of an acquisition leads new founders to make all kinds of mistakes. They end up losing out on much better deals, huge sums of money and even years of their lives stuck in post-acquisition work that they can’t stand.

    I know this from experience. In my early days as an entrepreneur, I ran into some of these pitfalls. In my work advising founders over the years, I’ve had many founders come to me too late, after they’d already fallen for some investors’ unethical practices.

    And since my company, Awesome Motive, has acquired numerous small businesses in ways aimed at helping them grow, I’ve seen that founders can take steps to ensure ethical acquisitions with founder-friendly terms. When they do, everyone comes out ahead — including the acquiring company.

    Here are some tips to watch out for when considering an acquisition, and how to protect yourself.

    Keep proprietary data hidden

    One of the most unethical things some investors do, oftentimes in private equity, is sensitive information mining. They convince you that they’re so excited about the possibility of acquiring your startup for a big figure, but first need to “learn more” about how you operate. At the same time, they may secretly have another company in their portfolio that’s considering offering similar solutions to yours, so they bait you into giving up your intellectual property and proprietary trade secrets.

    An acquiring company should be able to look at your revenue, costs, and other basics to offer a fair valuation without needing access to any of your secret sauce.

    Yes, you can have them sign an NDA and guarantee that they will delete any information and not share it with others. But they can’t delete it from their own brains. They can take what they learn from you and apply it elsewhere. I fell for this. I was a new founder and didn’t know any better.

    An acquiring company or group should be able to look at your revenue, costs, and other basics to offer a fair valuation without needing access to any of your secret sauce. Don’t let them see internal processes and other proprietary information until the sale has gone through.

    Keep deals simple — especially the terms

    One of my mentors told me, “You name the price, I name the terms, and I will always win.” I’ve seen this truth play out for founders all too often. They request a big price for an acquisition, which the other party seems to accept. That figure then goes high up in the contract, which makes it feel real.

    [ad_2]

    Carrie Andrews

    Source link

  • Ask Sophie: How can I move to the US to join my co-founder? | TechCrunch

    Ask Sophie: How can I move to the US to join my co-founder? | TechCrunch

    [ad_1]

    Sophie Alcorn
    Contributor

    Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.
    More posts by this contributor

    Sophie Alcorn, attorney, author and founder of Alcorn Immigration Law in Silicon Valley, California, is an award-winning Certified Specialist Attorney in Immigration and Nationality Law by the State Bar Board of Legal Specialization. Sophie is passionate about transcending borders, expanding opportunity, and connecting the world by practicing compassionate, visionary, and expert immigration law. Connect with Sophie on LinkedIn and Twitter.

    TechCrunch+ members receive access to weekly “Ask Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.

    Dear Sophie,

    For the past five years, I have been running the Boston-based biotech startup I co-founded while living in Pakistan while my co-founder has been living in Boston. Now I want to move to the U.S. to expand our business. What options are available to me?

    — Plucky Pakistani

    Dear Plucky,

    I’m appreciative of all the international founders like you who come to the U.S. to innovate, create jobs, and contribute to the economy! And kudos to you! It sounds like your biotech has hit the sweet spot to sponsor you for a visa as well as a green card if you want to stay in the U.S. permanently.

    Be sure to work with an immigration lawyer, who can guide you and your startup through this process and set up your startup for success in sponsoring international talent. An immigration lawyer can also prepare you for an in-person interview at the embassy or a consulate in Pakistan if you are required to have one. You may be able to get an interview waiver for the visa options below if you apply before the end of the year. Until then, consular officers have the discretion to waive the visa interview requirement for certain work visas if you were previously issued a visa and have never been denied one.

    Now, let’s dive into your best options.

    L-1A visa

    The L-1A visa for intracompany transferee executives and managers is a great option for startup founders who are either looking to set up a new office in the U.S. or — like you — want to move to the U.S. to work from an already existing office.

    Your startup must meet certain requirements to sponsor you for the L-1A. Your company will need a physical office location in the U.S. if it doesn’t have one already. Unlike other visas, for an L-1A petition it’s actually required and can also serve as evidence of business viability. Your company will likely also need to submit business plans, growth models, and organization charts.

    For the L-1A, you must have been working for your startup in Pakistan for at least one continuous year within the past three years for a related company, have an executive or managerial position at your startup’s U.S. office, and make decisions and supervise employees.

    If the U.S. Citizenship and Immigration Services (USCIS) approved you for an L-1A, it will be good for three years initially. You can renew your L-1A twice for two years each, which will give you a maximum stay of seven years as an executive in the U.S.

    [ad_2]

    Carrie Andrews

    Source link

  • Use LinkedIn to raise a Series A | TechCrunch

    Use LinkedIn to raise a Series A | TechCrunch

    [ad_1]

    Katie Konyn is a principal at Publicize. Originally from the UK, she resides in Colombia and has long been passionate about the positive impact that startups, particularly in the medical space, can make.

    Daniela Restrepo
    Contributor

    Daniela Restrepo is a tech and business journalist and VP at Publicize, a public relations firm empowering tech companies.

    With investment activity reaching a three-year low in Q2 of 2023, it’s clear that we’re deep in the midst of a funding winter.

    However, founders with their Series A on the horizon are facing especially tough odds. Seed startups in the U.S. were least affected by the funding downturn as investors opted for smaller deals against more costly late-stage rounds. While this was good news in the short-term for new startups, there are now more seed-stage companies than ever in the pipeline and the average funding time between seed and Series A has stretched to 25 months.

    Having a stellar pitch deck will encourage investors to bet on your idea, but how can you convince anyone without first securing a meeting?

    In 2023, founders will need to actively court the attention of investors to get their foot in the door. LinkedIn provides an extremely valuable resource here. With more than 950 million professional members worldwide, the platform offers a vast database that can be used to research potential investors, build new connections and nurture these relationships with a methodical process that will directly set the stage long before it’s time to raise your Series A.

    Here we’ll break down a strategic four-step approach that will help to boost your reach and visibility with investor networks on LinkedIn.

    Grow your network of investors

    While it’s likely you already have several investors in your network, the first stage of the process will focus on increasing this pool significantly. A study exploring the success of job hunters on LinkedIn found that networking with weak ties (a larger set of people you know less well) resulted in more jobs than strong ties. For founders preparing to fundraise, the same science holds.

    Not every request will result in a new connection, but with patience and consistency, your pool of investors will begin to grow.

    As with any lead generation process, the ability to track progress and measure results is going to be central to this strategy. This means the first order of business is to compile a comprehensive database of potential investors.

    Take your time with research here. With LinkedIn, you have access to an immense directory, therefore uncovering a wide range of investors who are relevant to your startup won’t be achieved on the first couple of search returns. Starting with the most obvious keywords such as “investor” + “industry” is a logical starting point but you’ll want to get creative with your search queries beyond this. For example, many investors look to support founders from a specific background or fund startups that align with a certain impact cause, but finding these kinds of synergies will require you to cast your net wider by using the advanced search function.

    [ad_2]

    Carrie Andrews

    Source link

  • Keep IT complexity in check with pragmatic composable commerce | TechCrunch

    Keep IT complexity in check with pragmatic composable commerce | TechCrunch

    [ad_1]

    Mariano Gomide de Faria
    Contributor

    Mariano Gomide de Faria has over 20 years of experience in digital commerce and is the founder and co-CEO of global enterprise digital commerce platform VTEX.

    Legacy digital commerce architectures are no longer sustainable in today’s commerce arena. With every component tightly integrated into a monolithic architecture, a legacy platform’s inflexibility, low reliability, and high maintenance costs make it nearly impossible for a merchant to test and roll out commerce capabilities in sync with consumer expectations.

    To address these limitations, many merchants have shifted toward a more flexible commerce architecture — like headless commerce. This structure decouples the front-end presentation of a merchant’s storefront from back-end services like inventory management and payment processing. Headless commerce enables merchants to independently evolve and scale each element of their infrastructure, which reduces risk during system updates and supports the creation of unique customer experiences and functionalities.

    Today’s digital commerce landscape often demands even more flexibility and customization, which is where composable commerce comes into play.

    Platforms that support headless commerce are API-first, meaning they can facilitate seamless transactions across various customer touchpoints (e.g., desktop, mobile, social, and IoT). However, today’s dynamic digital commerce landscape often demands even more flexibility and customization. This is where composable commerce comes into play.

    Composable commerce elevates the concept of headless commerce by enhancing flexibility and adaptability. It not only decouples the front end from the back end, as is the case with headless, but it also separates every element of the commerce architecture, including content management, site search, and personalization. This eliminates vendor lock-in and enables retailers to integrate best-of-breed applications for any functionality.

    As a result, merchants gain the flexibility to update individual components without risking disruption to the entire business, allowing them to adapt swiftly to market changes and innovate at scale. But is there such a thing as too much freedom and flexibility when it comes to customization?

    Three hidden pitfalls of unlimited freedom

    [ad_2]

    Carrie Andrews

    Source link