Startups are young firms engaged in a journey of pursuing ideas for fuelling Creative waves of destruction. These ideas are for offering better substitutions to existing products or offering completely new products around emerging technology cores. Often such ideas originate from long R&D engagement or Craftsmanship spirit. However, irrespective of the greatness of ideas, invariably startups’ products emerge in primitive forms, generating loss-making revenue. They need a Flow of Ideas for improving the quality and reducing the cost of the Innovation so that loss-making revenue proceeds towards profit.
In recent times, there has been a startup rush, particularly in developing countries. They are pursuing ideas around a technology core comprising of smartphones and mobile broadband. In many cases, these ideas have the potential to fuel creative waves of destruction. To make it happen, they need a flow of ideas. As opposed to focusing on R&D for creating the needed flow of ideas for reducing loss, they are often busy raising funds for sustaining loss-making operation and practicing predatory pricing. Ironically, their success is often referred to as the valuation and fundraising, as opposed to progress in turning loss into profit through continuous improvements of the products.
