Millennials are in the best position to start businesses out of apps or other digital technology that solves problems and provides essential services, says Joey Concepcion
MANILA, Philippines – Millennials are in the best position to grab opportunities presented by a growing “digital economy,” said Presidential Adviser on Entrepreneurship Joey Concepcion.
Businesses based on apps or digital technology are poised to become successful if backed by the right idea, Concepcion said during the 2017 Manila Social Good Summit held on Saturday, September 16, in Taguig.
“The future for you is the digital economy that is growing…Tech space, whether it’s robotics, AI (artificial intelligence), that is your advantage. Because you understand it more than we who are above 50, [the] 70, 80 generation. You are not scared of playing around with gadgets,” said Concepcion.
He cited the example of apps like Uber and Grab, wildly successful digital ventures that make money but also provide essential services to people.
Many other apps allow plumbers, house cleaners, or other service providers to access bigger markets through technology.
At no other time has the digital economy been so robust since so many people today are dependent on their smartphones and apps.
All millennials need to do to become a successful digitial entrepreneur is to identify a problem that can be solved on a smartphone.
“Identifying a problem gives you an opportunity. You can develop a business model on the digital space,” said Concepcion.
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