Reid Hofmann and Chris Yeh published in 2018, “Blitzscaling”, being the latest must-have reading in Silicon Valley. In short, the Blitzscaling strategy defends prioritising speed over efficiency, within an innovation context; to become the first in occupying a new market segment above doing it efficiently, as becoming second means you actually are too late.
Start-ups are usually fresh and agile organizations which faces scarcity of resources for “becoming the first” in launching an innovative product. These might have the vision, the idea, the know-how, but lack visibility and connections to be supported by established corporations and venture capital. Likewise, established corporations which might have funding capacity, lack flexibility for enabling “becoming the first”.
In natural ecosystems, wilds animals complement themselves by exchanging their mutual abilities trough symbiosis. PropTech Start-ups/entrepreneurs and large corporations naturally complements each other, despite coming from very different realities. The PropTech Challenge, now at its 3rd edition, has become a rich and developed ecosystem enabling the “digital symbiosis” between new fresh start-ups and already established market leaders. The Challenge, beyond the nice cash prize for winners, brings great visibility to all contestants and the chance to find out your counterpart which “blitzscale” your idea. Good Luck and Good Network for all of you!
Digital Transformation for Asset Services EMEA -Asset & Property Management- CBRE