Startups are a breeding ground for wild ideas that could eventually grow into billion-dollar businesses. But it's hard to build successful businesses when you don't know what the most promising opportunities are, or how to get in on them.
That's where the companies initiative comes in. The Initiative has just launched, and its goal is to use the power of technology to help startups succeed by leveraging public assets: data, talent, capital, and opportunities for entrepreneurship.
companies envisions a future where people spend more of their time making things, making money, and taking care of their families. They'd live healthier lives, have better health and well-being, and not be enslaved to a nine to five job. For those who aren't particularly creative or entrepreneurial, a change in work or life can mean a drastic change in the quality of their lives.
But while having new things to do can be exciting, making them requires access to tools and skills. Unfortunately, traditional entrepreneurial ecosystems don't make it easy for newcomers to enter the industry. 35% of people in the US have no idea what a fintech startup is, according to the study "Unlocking the Potential of Venture Capital for Emerging Entrepreneurs" by Accenture, which surveyed 2,100 people across 14 countries. And the vast majority of venture capitalists aren't actively looking for new ideas and inventions.
Even worse, traditional startups often aren't inclusive of people who aren't well educated. The same Accenture study found that only 26% of venture capitalists consider themselves to be "highly educated." In contrast, more than 60% of Americans between 18-34 years old say they have "great ambition" in life.
The problem isn't that entrepreneurs can't get started—it's that they don't know how. By giving startups access to a community of experienced mentors and the resources to build the next big thing, companies wants to ease the transition and get people to find success in the digital age.
Won't startups miss the chance to innovate in a changing industry?
Think about it: if Google had just one or two great entrepreneurs, they'd have a very, very different outcome. Maybe one of them would have built their own product, or maybe they'd have built a new division within the company. Either way, Google would have benefited greatly from the time, energy, and talent of more experienced entrepreneurs.
By giving entrepreneurs the resources and tools they need to succeed, companies wants to give more people the opportunities to run their own businesses.
Now, the startups taking part in the companies program can pitch for a $50,000 fund to get started. They also get access to funding, business advice, and other resources to help them build a better future.
If you're a person or organization with expertise in tech, health, agriculture, energy, education, government, financial services, and more, this is a huge opportunity for you. Click here to learn more.