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Tech leaders still looking for resolutions could do worse than focusing on three Cs this year: cost-saving, cleantech, and cybersecurity.
Get your finances in order: Even with inflation cooling and a potential “soft landing” taking some pressure off of your personal finances, startups might not be so lucky. With 2023 marking a three-year low in VC activity, more startups are going to hit the end of their runways. A chilly response to last year’s few technology IPOs also means the stock market is unlikely to be an attractive route, either.
- Funding may not be as dire as last year, but money is likely going to go where there are proven results, especially in rapidly evolving areas like AI, where investors are wary of startups that will get out-developed by bigger or faster-moving competition.
Clean up your act: Cleantech, green tech, environmental tech — whatever you call it, any tech that can help companies or governments meet their climate goals is going to see a lot of attention and growth this year.
- The government will be a big help here. Early-stage companies are still without the support Sustainable Development Tech Canada offered, but the feds have earmarked funding for environmental innovations, especially when it comes to carbon capture.
Beef up your security: Cybersecurity incidents hit record highs last year. Since many could be traced back to phishing or easily guessed passwords, that might be the best place to focus if you want to avoid the steep reputational and financial costs. Or, you could get rid of passwords entirely: Passkeys let you sign into an app with something built-in to the hardware it runs on, like the device pin or biometrics.