Nearly 40% of entrepreneurs are developing ‘knowledge-as-a-service’ businesses
Entrepreneurs are rapidly adopting sourcing as a method to jump-start their projects, according to a recent study by blur Group, the world’s largest Creative Services Exchange. blur Group surveyed 1,546 members of Innovatrs, an Innovation Exchange™ where corporations worldwide can discover, partner with or invest in innovative startups and entrepreneurs. The findings show that nearly 40% of entrepreneurs are developing ‘knowledge-as-service’ business models.
Using communities like Innovatrs to connect with funding and like-minded people has proven to be effective in getting projects off the ground. The research found that the most prominent sector is ‘knowledge-as-service’ (34%). Other business areas include:
-biotechnology (2%),
-mobile (4%), manufacturing (7%),
-green technology (10%),
-web/internet (12%),
-other technology (13%),
-creative services (18%).
A significant number of entrepreneurs belong to the “digital natives” generation, and are focused on developing ways to leverage technologies to stimulate global business. Nearly one quarter of entrepreneurs are under the age of 30, with the average age being 39.
“We’ve seen that the “digital natives”, those that grew up digital technology, are more likely to develop innovative business models and are looking for ways to more efficiently jump-start their businesses,” says Philip Letts, founder and CEO at blur Group. “Innovatrs provides a platform for these entrepreneurs to connect, build a community and get their projects off the ground.”
New business models are emerging to support this demand. 40% of entrepreneurs in the ‘knowledge-as-service’ sector are providing business strategy consulting and 33% are ‘digital strategists’, helping businesses transfer their existing processes into the digital sphere.
“Entrepreneurs are responding to a dwindling economy and the significant shift towards networked consumers by developing business solutions that adapt to a digital economy,” says Philip.
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