Startups

World Business Angel Investment Forum: Liquidity towards smart start-ups is increasing

Baybars Altuntaş, the president of the World Business Angel Investment Forum (WBAF) spoke to the online presentation meeting where the outcomes of the research ‘’ Current Situation of the Global Enterprise Ecosystem’’ were presented; the research includes expectations of start-ups and entrepreneurs regarding world economy after the pandemic.

Altunbaş stated that WBAF is one of the platforms connected to G20; he said that he participated the online plenary session of The Global Partnership for Financial Inclusion (GPFI) with Saudi Arabia presidentship.

Altuntaş mentioned the expectations of entrepreneurs, innovators and start-ups towards the states and their future anxieties. He also said that the smart entrepreneurs will be the winners of post-pandemic economy.

‘’Entrepreneurship is important and yet smart entrepreneurship will be more important in the future. Smart entrepreneurs are the ones who can understand the ever-changing behaviour of the consumers. The attitude of the consumers will be changed within the pandemic. The entrepreneurs who aren’t able to understand these changes will have disadvantages in the future.

Work transition is a must. It means transition to a digital environment; it is not cheap. Work transition is a must not only for big firms but also for small or average businesses; yet, it has costs.

After the pandemic, the contemporary money will be replaced with smart moneys. Contemporary business owners are trying to discover the early opportunities of the start-up and entrepreneurship economies. There are massive opportunities for the start-ups with their economy’s increasing liquidity.  This new smart money is coming for entrepreneurs, start-ups and innovators.’’

€9,8 billion of investment was made by 320 thousand angel investors in 2019, Europe.

Altuntaş reminded the last year’s €9,8 billion of investment and continued:

‘’These investments will be increased in the future because the contemporary money is becoming smart money. Smart money means know-how, guidance, smart work and finance. Entrepreneurs are in a global competition today.

Young generations are stuck between the questions of finding a new business idea in the way of their careers or finding a job. If I were asked to study college again, I would study computer engineering; because code development and coding are the new possessions and qualifications of these new entrepreneurs. A lot of business ideas of start-up economy come from information technology and mobile economy.’’

Altuntaş said that 25 percent of the 2019 investment of €9,8 billion, is spent on information and communication technology and mobile technology based on entrepreneurs and start-ups. He continued:

‘’All countries and economies support the digital transition and development of information technology; countries support them to be innovative on digital platforms. The winners of post-pandemic economy will be the smart cities, online education, businesses related to health and technology.

Building smart cities and providing computers are important for the post-pandemic economy. States have chosen online education for the last 3 months; yet, are we sure all of these students have access to computers? 17 percent of between 3 and 18 years old students have no access to computers even in America and 17 million students are not properly equipped for online education.’’

source: AA / translated by bazaar team

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