Prof Catherine Welch spoke at Future Human 2022 about the challenges tech companies face from the global economy – and how to mitigate those risks when expanding.
In a globally connected world, tech companies need to find ways to de-risk when expanding, according to Prof Catherine Welch, Trinity Business School’s first ever chair of strategic management.
Speaking to an audience at this year’s Future Human, Welch explained the specific challenges that tech companies face from internationalisation. While it has become easier for a company to set up a website and go global, it is also riskier than ever to do so.
Welch noted that tech companies in particular have an added set of risks when it comes to expanding, not only because of the volatility that the world is currently facing, but also because “innovation is inherently risky”.
One of the examples she gave was SaaS and software development companies, which tend to offer “novel applications and recombinations of technology that’s already out there”. These companies can face issues when trying to create an offline presence after the initial rush of early success.
The second example Welch gave was deep-tech companies, which deal with new products based on scientific breakthroughs. She explained that it can take decades for these companies to get an innovation to market.
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Words by Leigh Mc Gowran