Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
What women want: The proportion of women in tech remains far too low, despite concerted efforts to rectify things. Studies show that this regression is largely due to poor culture in many tech workplaces that aren’t inclusive enough to support female workers. In cultures where discrimination was more prevalent, women would advance to managerial roles just 28% of the time, versus 40% for men. Some of the top inclusive culture aspects that women wish to see in a company include supporting parents and parents-to-be, genuine mentors, and diversity in senior positions.
High hopes: Jay-Z has created a $10 million fund for startups to boost minority-owned cannabis businesses. The rapper and entrepreneur says he is motivated by an imbalance in the marijuana business: People of color, who have been disproportionately punished for involvement in the drug, where it is illegal, comprise only a small number of those making money from the multibillion-dollar market in legalized pot. Mr. Carter, who started the $10 million in seed money received as part of a merger, joins a broader push for equitable, economic opportunity across the cannabis sector.
Born to be wild (and safe): New fashion technology fromAirbag Inside Sweden AB designed airbag jeans and high-tech vests to make motorbikes safer. The wearer tethers the jeans to their bike and if they fall from the motorcycle, the airbags are triggered, filling with compressed air and lessening the impact on the lower body. The airbag can then be deflated, refilled with gas and reassembled into the jeans to use again. This is part of a larger effort to make innovative safety options more attainable to motorcyclists around the globe.
Food for thought: Executives at Kellogg Co. and Unilever are calling on startups to help tackle food industry issues. The companies partnered with the organizers of the Future Food-Tech Summit to launch the Innovation Challenge, which will culminate in a pitch at the live-streamed virtual event on March 11-12. Innovative food solutions can include improving taste, plant-based alternatives, gut wellness, and waste management.
Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
Try your mother’s maiden name? Bitcoin owners are getting rich because the cryptocurrency’s value has soared. But what happens when you can’t tap that wealth because you forgot the password to your digital wallet? Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.
When in doubt, Zoom it out: Companies have had to figure out remote work on the fly. Everything from outdated technology to a lack of in-person social time with colleagues has presented new challenges for employees used to an office environment. However, businesses are finding that with a little flexibility, the right technology, and more employee training, they can increase employee productivity well into 2021 and beyond.
Word of Advice: At 34 years old, Nikhil Kamath is one of India’s youngest billionaires after co-founding India’s largest trading brokerage, Zerodha. The company has seen its number of registered users double under the pandemic and reportedly has a daily turnover of an estimated $10 billion. Nikhil explains his best advice for other entrepreneurs’ success, including observing industry trends and tapping into growing industries.
Good genes: Gene-editing technology can tackle some of life’s most pressing problems, from disease to malnutrition. In the past decade or so, genetic engineering has undergone its own transformation, thanks to companies like CRISPR Therapeutics, which allows its users to snip a stretch of DNA and then either disable the affected sequence or replace it with a new one. Funding has risen from larger pharma companies, considering that the treatments could be lucrative and the broader technologies may be highly scalable. Because of this, gene-editing stocks have now returned about 230% over the past 2 years, compared to the broader S&P 500, which is up by about 52% over the same period.
Countless aspiring tech entrepreneurs launch and fail within their first year.
They fail after overlooking one key step they need to take before spending a single dime or contacting a potential investor.
Before starting a tech company, every entrepreneur needs to establish a mission that solves a business problem. Put another way, a “brilliant” technical idea is worthless if potential customers don’t already need it.
We’re about to dive into the basics of how to start a tech company and explain what you need to maximize your potential for success.
In an exclusive interview with Quantic’s founder, Tom Adams, you’ll learn how Tom built Quantic into a multi-million dollar tech startup. Now, he teaches other tech entrepreneurs to leverage the same recipe for success.
What Is a Tech Startup?
Put simply, a tech startup is a fledgling company that brings technology-based products and services to market.
In the current technology landscape, a tech startup can be launched very quickly — sometimes in just a matter of a few weeks — if the collaborators and resources are in alignment.
With the advent of the cloud and integration companies, it’s more accurate to say that a business is assembled rather than built from scratch. Multiple service providers supply resources, including online computing power, programming teams, project management, and security services.
In the technology industry, an entrepreneur with the right mission and the ability to seek out the right providers can start a business within days — depending on the complexity of the service or product.
Starting a Technology Business
Starting a tech company is no different than starting any other business. Right?
In short, wrong.
There are some major differences between starting a tech business and a traditional brick & mortar business.
The traditional business is dependent on location to function, with factors to consider like:
Local foot traffic or commuter traffic for visibility and access
Office space leasing
Availability of qualified staff within close distance
Storage and warehouse needs
The tech business lives in a virtual landscape. Every member of the team, from the founder and CEO to the administrative assistant, can work remotely from anywhere in the world. The Internet is their office; their laptop is their factory.
Ease of access to your company and your means of production makes the logistics of starting a company very fast. But the virtual business arena comes with its own unique challenges, such as:
Reduction in collaboration if teams aren’t disciplined about staying connected
Constant security obstacles from hackers, spammers, and other online threats
Business shutdowns when service providers (e.g. AWS, PayPal) have an outage
While tech companies and physical businesses have fundamental differences, they will always share the same business principles of success. You can see those principles at work in the most recent list of Bloomberg 2020 billionaires, the types of businesses they run, and the education they pursued to become successful.
For example, former US presidential candidate and founder of Bloomberg LP, Michael Bloomberg, earned his MBA from Harvard Business School. Phil Knight, the co-founder of Nike, earned an MBA from Stanford University. And Lee Kun-Hee, the chairman of the Samsung Group, earned an MBA from George Washington University.
All billionaires. All leaders of very different types of companies, including tech companies. All basing their business success on consistent principles learned through an MBA.
Quantic’s Founder Tom Adams Explains How to Create a Tech Startup
Tom Adams, Chairman/CEO and Co-founder of Quantic, is an E&Y Entrepreneur of the Year National Winner and former Chairman/CEO of Rosetta Stone. Tom holds an MBA from INSEAD, one of the world’s largest graduate business schools, and a B.A. in history from Bristol University.
Tom Adams, Chairman/CEO and Co-founder of Quantic
It’s fair to say that Tom has spent years acquiring the education, experience, and success to build winning businesses. He’s shared his invaluable insight into what it takes to start a winning technology business in the current landscape.
How to Build a Tech Company From the Ground Up
According to Tom Adams, there are three fundamental elements an entrepreneur needs to incorporate into their strategy right from the very start.
Define the mission, and make sure it’s “crystal clear.”
Define the constraints such as “things you will always do” and “things you will never do.”
Iterate quickly to ensure the “design meets reality” and the product is adjusted to fit the customers’ needs.
How to Start a Tech Company Without a Tech Background
Much of what goes into a company’s success is “product/market fit”, which involves matching the product or service to the customers who want to buy it.
Once the mission and constraints are crystallized as the company’s mantra, the goal is to assemble a team with all the collective strengths necessary to execute that mission.
Starting a Software Company With No Programming Experience
But, doesn’t a software company need every member of the team to be fluent in programming languages?
On the contrary!
In other words, an entrepreneur need not be a programming expert to make the world’s greatest technology solution a reality. But, an entrepreneur does need to know how to assemble a team that brings all the ingredients together, including programming, to make the mission possible.
How to Start a Tech Startup With No Money
There are two primary methods for funding your startup without already having the funds or bootstrapping. Both involve seeking funds from investors who believe in you or obtain “working capital” by accepting advance payment on products/services.
First, you can seek investment from individuals or groups, such as angel investors. The key is to “find people who believe in you.”
This is where having a crystal clear mission comes into play. When an entrepreneur has a mission they believe in, investors will believe in the entrepreneur.
Belief begets belief.
The second avenue is obtaining “working capital”:
Early access, early bird pricing, and limited-time benefits are all methods that could be used to entice customers to buy early and help pay for the launch.
How to Find Tech Startup Ideas That are Viable for Growth
Viable growth begins by “mapping out the existing landscape” for the problem your solution is meant to solve.
When you’re developing a solution in a market already filled with competitive solutions, think about; “what are you going to eliminate, and what are you going to create and elevate in terms of features and benefits for the customer.”
If your solution is similar to others on the market, success will depend on developing a cost advantage. Either through streamlining development to make production cheaper than the competition or by selling at reduced margins to capture significant market share.
Small startups begin at a “scale disadvantage.” To compensate, success comes from innovating “new combinations of features” and benefits “that delight” customers enough to outweigh the loss of features customers would normally get from competitors.
Tips on How to Create Technology
Although the crystal clear mission of a startup describes creating a very specific solution to a very specific problem, technology rarely exists in isolation. A connected world means every new solution created must “co-exist with other applications.”
That means a new solution will need to “interoperate” to fit with what people are already doing today.
For example, if you create a new mobile application that helps customers to stay more organized while at work, you’ll need to design the application to work across mobile devices. Also, organization tools will typically need to integrate with calendars, mail applications, or cloud file storage services.
It all has to work together. As a result, thorough and ubiquitous compatibility is crucial.
The Most Important Key to Growing Your Tech Business
Your solution can’t be the very best and most perfect answer to every aspect of the problem your customer faces.
Focus on being the very best in the world at a “few things” to ensure your team remains concentrated on being the market leader where it counts.
Does an MBA Education Benefit Future Tech Startup Founders?
Everyone starts somewhere. The challenges a tech startup faces are unique when compared to traditional brick & mortar businesses, but the fundamentals of business are still the same.
Entrepreneurs learn entrepreneurship by doing. Programmers learn programming by doing. Nearly every member of the team assembled to execute the mission brings the particular strengths they’ve honed through time and experience. All by doing.
An MBA can’t teach those strengths to a well-assembled team, but an MBAcan teach “strategic leadership so they can scale and direct the organization much more effectively.”
An MBA empowers a fledgling CEO to:
Think in “terms of value creation for a long-term strategy.”
“Position competitively in terms of branding or product placement.”
Quantic, Tom Adams’s company, understands the value of an MBA for new CEOs. Quantic’s MBA program teaches the “fundamentals such as accounting or strategy.” And students get to “build out business plans” and develop a “network of peers” to “accelerate their proficiency in the key terms and the key ways of building business success.”
Quantic has demonstrated a track record of success for their students. Not just in providing a world-class MBA program to give CEOs the tools they need, but also in helping students start their own successful businesses.
Read the case study about a Quantic student whose startup connects with their hearing-impaired audience.
Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
Do what you like, like what you do: This past year brought an explosion of newly launched small businesses and startups. What are their success secrets? One tip is to simply be yourself and be passionate about your work. Embracing your identity and trusting yourself allows for more novel products and opportunities. The pandemic and lockdowns have afforded many of us the time and space to discover who we are, and what we want in life, love, and work. The start of a new year is a great time to pursue these passions and go full entrepreneur.
Purpose over profit: From the importance of authenticity to being grounded in humanity, purpose-driven companies will not only help advance industries, but create meaningful societal impacts. What are some of the top forecasted trends for businesses focused on purpose? One main aspect will be that “storytelling” will evolve into “story-doing.” Companies will increasingly take action before they communicate about it. “We’ll hear stories about real risk-taking, about rolling up sleeves and jumping in to help,” says Laura Ferry, president of Good Company. “We will learn about the people who bravely stood up, helped others, or marched for a cause.”
Creativity is intelligence having fun: Some researchers are finding that while many companies are spending more money on creativity and innovations, their returns are still flatlining. How can they fix this creative slump? Welcome “Augmented Creativity.” This is a term being used when humans use AI to help them understand the deluge of data to create new works and prototypes. This approach utilizes huge datasets that AI mines to look for well-established, yet previously untapped, connections. Augmented Creativity has helped develop everything form new music apps, to delectable cookie-cake hybrids.
Wednesday’s riots in Washington D.C., which included the United States Capitol being breached during the ceremonial counting of the electoral votes, has gained the attention of business leaders from around the globe. Executives and CEOs from some of the world’s biggest tech companies took to platforms to condemn the violence, and even temporarily ban Trump’s accounts, but was it too little too late? The role of social media, and the political, cultural power it can wield, left Alexis Ohanian, the co-founder of Reddit, saying: “there are a lot of hard questions we’re going to have to answer for our children.” In any case, here’s to hoping 2021 has nowhere to go but up from here.
Are you afraid of losing money and looking like a fool for making a bad investment? The answer is almost universally yes for every startup’s potential investors.
Fear causes an investor to second guess a sound opportunity staring them right in the face.
The best way to overcome investor fear is knowledge. The knowledge that the startup is valuable and will yield a solid return.
The first and best piece of knowledge is an accurate startup value. Let’s get familiar with the different methods of value calculations. We’ll define 7 different methods, how they work, and when you should use each one.
So download your free calculator below and follow along…
There are many ways to calculate the value, but no magic number will meet every investor’s needs. The calculations break down into two major categories:
Pre-money valuation
Post-money valuation
Calculations are broken down based on when the payment happens. Usually it’s before and after the current rounds of funding.
Pre-Money Valuation
With this type of valuation, an investor estimates how much the company is worth right now. It’s an indicator of market confidence in the startup’s potential. It’s not necessary for even a single sale to be made.
This type of assessment can be more difficult to calculate because it depends on where the company is in its stage of development. Such as:
Is it pre-revenue, meaning it hasn’t made a single sale?
At what point does the company plan to move from pre-revenue to generating revenue?
Does the company’s business model contain pre-revenue sales projections?
Or if the company is past the pre-revenue stage, will the initial investments go entirely towards capital purchases?
These are some of the questions that factor into the value calculation.
What Is Pre-Money Valuation?
This calculation is one of the two startup valuation methods used before the investor commits funds. It sounds intuitive. But it’s necessary to make this distinction for accounting purposes. For example:
Let’s say a startup is worth $10 million. An investor decides to invest $1 million in exchange for 100 shares of stock. The company value before the investment is $10 million and the post-money value is $11 million.
To lower risk, investors will put money into a startup over later rounds of investing instead of all at once. This invest-as-you-go model is common. The startup gets the funds to grow and the investor lowers potential loss if the startup fails.
Pre-Money Valuation Formulas
Every startup is different. So, calculating the startup’s value is not a one-size-fits-all process. Financial experts developed different types of startup valuation methods. Each one focuses on a different financial perspective.
A savvy venture capital investor will use many methods to calculate value. Then they decide to invest in an early-stage company based on an averaged amount.
The Discounted Cash Flow (DCF) Valuation Method
The Discounted Cash Flow (DCF) method measures the future revenue potential of a startup by estimating its cash flows and discounting them back to present value terms. It then calculates revenue over a set period of years.
This technique helps investors determine if the expected returns justify the risks associated with investing in a particular business.
Estimating future cash flows: Investors project revenues, expenses, and net income over several years into the future based on available data and reasonable assumptions about growth rates.
Determining an appropriate discount rate: The discount rate reflects the time value of money as well as any perceived risk factors specific to the startup or industry sector it operates within.
DCF works best as a type of “sanity check.” Combine it with other methods to ensure the average value falls within an acceptable range of accuracy.
The Berkus Method
The Berkus Method was developed as a way to calculate the startup valuation without unreliable assumptions. In David Berkus’s own words:
It’s best to use this method if the risk factors are known. Also, it works if the return on investment for the startup is unknowable due to too many assumptions.
If Exists:
Add to Company Value up to:
Unique Selling Proposition (USP)
$500,000
Viable Beta
$500,000
Quality Controls in Place
$500,000
Partner Agreements Pre-Revenue
$500,000
Post-Revenue Success
$500,000
Value factors for the Berkus Method
Scorecard Valuation Methodology
This method answers one basic question when it comes to startup valuation methods. “How valuable is this startup compared to similar companies?”
The Risk Factor Summation Method
The Risk Factor Summation Method is a combination of the Berkus Method and the Scorecard Valuation Methodology. It measures startup valuation by comparing the company with other companies. The comparison is used to develop a baseline. It then adjusts the value based on a list of 12 risk factors.
By assigning scores to each factor, investors can gauge how these risks may affect overall performance and make informed decisions about whether to invest or not.
List of Common Risk Factors
In order to effectively apply the Risk Factor Summation Method, it is essential for investors and startups alike to be aware of common risk factors typically considered during this process. Some examples include:
Management Team: The experience, skills, and track record of key personnel within the organization.
Market Size & Growth Potential: The current size and future growth prospects of the target market segment(s).
Sales & Marketing Strategy: Effectiveness and scalability of sales channels and marketing efforts employed by the startup.
Funding Requirements & Financial Stability: Adequacy of capital resources available for ongoing operations as well as future expansion plans.
Litigation Risks & Regulatory Compliance: Potential legal issues or regulatory hurdles faced by the company which could impede progress or increase costs significantly.
Like the DCF, it’s best to use this method with other methodologies to develop an average score.
Venture Capital Method
The Venture Capital Method takes a finite term approach to the valuation method. The investor assumes an exit term, say 5 or 7 years, from the point of investment. It then back-calculates the return on investment for that period.
This is one of the preferred startup valuation methods. An investor can set the exit strategy on milestones. An example milestone would be reaching a specific dollar amount in sales or percentage of market share.
Comparables Method
Like the Scorecard Valuation Methodology, the Comparables Method calculates a value by comparing the startup to similar companies. Unlike the Berkus Method, the baseline is adjusted by a series of ratio values. The ratios include price-to-earnings ratio (P/E), price-to-sales ratio (P/S), and enterprise value-to-earnings before interest, rather than flat dollar adjustments.
The Comparables Method is simpler to calculate. It relies on fewer assumptions than the discounted cash flow method. But accuracy is more dependent on the accuracy of the market value of the peer group used in the baseline.
By analyzing these comparable companies’ valuations – often referred to as “comps” – investors can gain insights into how their peers view startups with similar characteristics. To use the Comparables Method effectively, follow these steps:
Identify Comparable Companies: Research and select a group of businesses that share similarities with your startup in terms of size, industry sector, and stage of development.
Gather Financial Metrics: Collect relevant financial data for each comparable company. This may include revenue growth rates, EBITDA margins, or other key performance indicators (KPIs).
Analyze Valuation Ratios: Calculate valuation ratios such as Price-to-Earnings (P/E) ratio or Enterprise Value-to-EBITDA (EV/EBITDA) ratio to compare the relative value between companies.
Cost-to-Duplicate Method
The Cost-to-Duplicate Method looks at the cost of starting over from scratch in another location or industry. This method can help investors determine soundness very quickly. If the company can be reproduced cheaper or better in another location, it’s not a good investment.
This is a very rough calculation. It doesn’t take mitigating factors into account like tax laws in alternative locations. It’s quick but very prone to error.
Pre-Money Valuation Calculator
The methodologies listed so far are subtly different. But most have strong similarities. This makes the prospect of calculating value confusing.
Fortunately, Quantic has published a free template to help.
Post-Money Valuation
Post-money valuation is a measure of the startup’s value after the current funding round is complete. This gives investors a view into how much other investors are willing to support the startup. It’s a picture of the willingness of others to financially back its chance of success.
What Is Post-Money Valuation?
Post-Money Valuation is a company’s value after it receives money from the current round of funding. This value is an indicator of how many shares an investor will own as a function of the amount of money invested.
If a startup only has one investor, that investor will receive 100% of the available shares. If there are many investors, there’s strong confidence in the company. But this also reduces the percentage of available shares that can go to a single investor.
Post-Money Valuation Formulas
As with the other value calculations, there are several to calculate post-money. It’s best to base investing decisions on an average of the methods used.
Book Value Method
The Book Value Method looks at all the tangible assets of a startup after a funding round. It then deducts the intangible assets to derive a net value. It’s a strong indicator of the company’s value on a Balance Sheet. This calculation only works once the investments into the company are complete.
It’s best to use this method if a significant part of the company’s value relies on tangible assets. If a startup relies on patents and copyrights, avoid using this method.
Post-Money Valuation Calculator
Again, it can be confusing to sort through the myriad of methodologies – both before and after funding. To help, Quantic has released a free template to assess the post-money value of a company. It’s a useful tool for investors to make informed decisions.
Note; ideally, we want to have an opt-in here in exchange for the formula calculator.
Valuation Cap Calculation
Here’s why it’s so valuable. “It is intended to ensure that an investor does not miss out on significant appreciation of a company between the time of the sale of convertible notes and the qualified financing.”
No investor wants to miss out on the benefits of explosive growth. The valuation cap makes the investment more lucrative when unexpected growth occurs.
Startup Valuation Spreadsheet Templates
Our startup valuation calculator incorporates the most common methods used today.
On top of that, the calculator also contains a section for Scenario Analysis. This is useful to help compare the results of multiple methods to calculate the best average.
When it comes to startups, Quantic has helped plenty of students build companies that grow.
Here’s how the Quantic MBA helped three founders on their startup journey…
Thiruvenkateswaran Ramachandran – ClimeUp
The knowledge and skills Thiruvenkateswaran gained through the Quantic MBA played a big role in his decision to launch the ClimeUp venture.
ClimbUp is the industry first’s Sustainability technology (SusTech) company that enables corporates, advisory firms, and ESG investing firms with a one-stop ESG Software Platform to report, monitor, and measure ESG performance & Climate impact. They do this by leveraging advanced technologies such as IoT, AI, and behavioral science.
The Quantic MBA was important to this startup’s journey because it helped prepare the founder to launch a successful business that combines sustainability and technology to address the challenges of sustainability reporting and monitoring.
Our program’s short, quiz-like format fit Lindsey’s full-time work schedule, and she was able to learn useful concepts on her smartphone without having to read endless textbook passages.
After graduating from Quantic, Lindsey worked at several startups before co-founding PlaybookUX, a user research company that solves three main pain points related to the user feedback process.
During the process of launching her company, Lindsey leaned on Quantic lessons, particularly financial topics, which were difficult for her to understand, to price the product and build the business model.
Additionally, the Quantic student network provided her with like-minded product managers and valuable advice on growth hacking, which she plans to leverage to take PlaybookUX to the next level.
The Quantic MBA gave Kenneth the necessary business knowledge and tools to pursue his passion for the sneaker industry.
As a former lawyer and general counsel for Yeezy, Anand already had a strong understanding of the legal aspects of the industry.
However, he recognized that he needed to gain a deeper understanding of business concepts in order to be successful. Discover exactly how he did that by reading the full case study below 👇
Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
From being on mute to overusing the adjective “unprecedented,” here’s a roundup of lessons we all learned in 2020. One key takeaway? Apparently, people are generally better off when their leaders are emotionally intelligent, humble, and ethical. Want to better your emotional and cultural intelligence skill set? Make sure to try our new Cultural Intelligence course.
Can innovation be learned? The answer is yes, according to Elon Musk, one of the most innovative entrepreneurs of the modern era. During a candid interview with Wall Street Journal, Musk argued that creating innovative products is “absolutely learnable.” It all comes down to answering three simple questions.
A whole new meaning for greenhouse: AI technology can now help fight the climate problem that may be hiding inside buildings. From HVAC systems to water chillers, almost 40% of energy-related carbon dioxide emissions comes from the construction and operation of buildings. A new startup called Carbon Lighthouse is using hundreds of sensors combined with AI to dramatically lower carbon emissions.
No more language barrier: The UK-based startup, Papercup, has developed speech technology that translates people’s voices into other languages. Papercup is building out an AI and machine learning-based system that it says is capable of translating a person’s voice and expressiveness into other languages. Unlike a lot of text-to-speech, the startup claims the resulting voice translation is “indistinguishable” from human speech, and, perhaps uniquely, it attempts to retain the characteristics of the original speaker’s voice. The company has already raised £8 million in funding and is being used in the video and television industry.
Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
Here’s to strong women: Forbes has unveiled its list of “The World’s 100 Most Powerful Women.” From fighting the pandemic to reengineering American politics, these influential women — including New Zealand Prime Minister Jacinda Ardern, Vice President-elect Kamala Harris and voting rights advocate Stacey Abrams — are making history. According to Forbes, the women who made the 17th annual list “hail from 30 countries and were born across four generations. There are 10 heads of state, 38 CEOs and five entertainers among them. Where they differ in age, nationality, and job description, they are united in the ways they have been using their platforms to address the unique challenges of 2020.”
Beavers, burpees, and bread, oh my! What do these three things have in common? They were some of the most-searched words in 2020. It’s that time of year again when Google Trends releases the UK’s most-searched terms of the year. From sourdough to sanitizer, not surprisingly, the coronavirus pandemic dominated this year’s list.
If you want to explore the most-searched trends, globally or for your home country, head here.
Need an inspirational spark for your next “Aha” moment? Here are five steps that will help boost your creativity and capacity for innovation. From fundamental steps like exploration and focus, scientists have studied how the process of creativity works within our brain and what conditions can favor new, unconventional ideas. For example, a brain that achieves mastery through practice and repetition is more capable of finding innovative solutions to complex problems in a given area.
Face value: China’s male skincare market is booming and domestic startups and global investors are taking notice. These new beauty companies have brand ambitions that rival giants, like L’Oreal, in a billion-dollar business that serves millennial men. The cosmetic interest seems to be highly influenced by the spread of social media and South Korean pop culture. Already the biggest in the world, the Chinese men’s facial skincare market is forecast to hit 12.5 billion yuan ($1.90 billion) this year – and expand 50% to 18.5 billion yuan in 2025.
Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week:
Pivot! A buzzword synonymous for start-ups is making its way into the shared vocabulary for small businesses. Smaller companies are finding new ways of operating and reaching new consumers in an increasingly competitive space. Business founders are learning lessons from entrepreneurs in Silicon Valley and other tech hubs. These start-up skills are helping them streamline their processes and in many cases, boosting profits.
Good genes: The UK-based startup, Bit Bio, is aiming to recreate every human cell type in the body. Not only will this be a monumental scientific milestone, but access to human cells would also accelerate the development of cell-based therapies. Quantic alum, Grant Belgard, is the Head of Bioinformatics at Bit Bio. The company’s cell reprogramming platform only needed three weeks to raise $41.5 million in a Series A funding round that will be used to support this company’s goal.
Green machine: There’s never been a greater push for sustainable products and technologies than there is today. We’ve reached a critical point with regards to climate change, and many global innovators and businesses are stepping up to the plate to build a greener future. From smog vacuum cleaners, robotic bees, and edible cutlery, here are some of the incredible examples of sustainable innovation that could change the world as we know it.
Shape up your social accounts: A start-up, Lifebrand, is now using AI and machine learning technology to scrub users’ social media accounts for “harmful” posts. Their software boasts that it can scan your social media accounts (if permitted), and flag potentially inappropriate or harmful posts so you can review and/or delete them. The company was the winner of a pitch competition with more than 1,000 competing companies, hosted by investing company, StartEngine with Kevin O’Leary. Executive MBA student, Dr. Chris Kager, has been an investor and a close advisor for Lifebrand. Chris recently helped the company raise the majority of their $1.6 million seed round.
Since 1996, Virtual Enterprises International (VE) has transformed the lives of more than 165,000 teens through a robust in-school program empowering students to test drive potential careers and develop professional, leadership, functional, and technical skills and competencies. VE’s mission is to ensure all young people have the opportunity to learn and succeed, regardless of their zip code. This vision is put into practice by equipping students with real life business skills that help them lead financially secure, successful lives. When Executive MBA Student, Anthony DeBellis, introduced us to VE, we immediately knew that we needed to get involved to help inspire future leaders. Now, more than 20 Quantic students and alumni will be judges for VE’s national student business competitions.
VE programs guide youth to be adaptable, collaborative and self-directed. The company partners with schools, districts, and businesses across the United States to create educational pathways that align career education and work-based learning, with academic standards-based education. Guided by an industry-driven, educational framework, students launch and manage the growth of a company in a digital, international economy of more than 7,000 student-run businesses in 40+ countries. Through this, students learn how strong skills and a positive mindset can launch them into a successful future.
Anthony DeBellis, a product management professional at Mastercard, has been involved with Virtual Enterprises for five years and believes its mentorship for young students is invaluable. “Looking back, my favorite memory was working with the students at Manhattan’s Business of Sports School. I was part of a volunteer team that visited the school a few times a month to work with students on their VE business. We would advise them, help them solve problems and share our experiences. When you start working with VE students at any level there are two things I always come back to: first, the students are inspiring, creative and have boundless potential. Second, the experience is rewarding and energizing.”
Anthony believes every high school student in the U.S. should have the opportunity to be part of an immersive VE classroom experience. He is continuing to help them grow by joining their NYC Advisory Board. “When I originally became involved with VE, I was working in banking and managing partnerships focused on bringing financial literacy to students through my organization. We were introduced to VE’s founder, Iris Blanc, at a Nasdaq Bell Ringing ceremony and immediately became enthralled with their vision. All these years later, I’m thrilled to still be engaged with the VE team.”
Students participating in the program are offered summits which are fully-interactive experiences that integrate a trade show atmosphere, workshops, special presentations, and networking opportunities. They offer many ways for students to develop and apply a full range of key career competencies, as well as interact with other VE students, educational leaders, community representatives, and real-world professionals.
Virtual Enterprises’ digital classrooms and Quantic’s pedagogy style both cater to a nontraditional entrepreneurial spirit. Anthony knows this is the perfect union, with the concept of modern education in mind. “I had long wanted to earn an MBA, however there is so much friction around traditional programs, in terms of logistics and costs. A former colleague of mine posted his Quantic degree on LinkedIn. I reached out to him to ask about his experience, and his feedback was overwhelmingly positive. Needless to say, I applied a week later and haven’t looked back.”
VE is a fantastic opportunity for Quantic students to give back to their community and impart valuable lessons to budding business leaders. We are thrilled to see so many of our students volunteer with Virtual Enterprises — we know they will be wonderful mentors to help inspire the next generation of trailblazers! If you or someone you know might be interested in volunteering, send an email to apena@veinternational.org.
Tech jobs across the world are rapidly increasing and can be found in most industries. The rise of such jobs is due to organizations increasingly relying on computer systems and technologies.
Examples are the adoption of cloud computing and cybersecurity. As a result, employment in IT occupations is predicted to grow by 15% between 2021 and 2031.
Some specialized tech jobs that are expected to increase in demand include:
Software developers
Web developers
Information security analysts
Mobile application developers
Computer system analysts
These jobs will require you to have specific skills that you will have learned and practiced. Some of the most important IT skills you may already possess are:
Coding
Application development
Cloud services
Cybersecurity
Database administration
Combined with the below ‘soft’ skills, you will be able to fit into a tech role of your choice.
Communication skills
Time and project management skills
Analytical skills
Problem-solving skills
These are the basics that will enable you to work within an IT department, as well as interact with high-level management.
Note: Though the terms are interchangeable, do not confuse tech skills and technical skills. Tech skills relate to IT skills associated with digital technology. Technical skills are a broader range of abilities, such as accounting which is not a tech skill.
Each type of tech resume needs to be tailored to the role and this is the tricky part for job seekers in the industry.
You will need to be able to showcase your specific skills. At the same time, you need to differentiate yourself from people with similar skills and highlight relevant experience.
How do you make your resume stand out among the thousands that employers receive?
This guide will give you an overview of what to consider when creating a tech resume that will get you hired: For additional advice for women who are seeking tech roles check out this article.
Once you have an impressive resume, the next step is to find jobs to apply for.
By targeting employers who are looking for someone just like you, there is a better chance to be called in for an interview.
Using the Quantic platform is an ideal solution to finding new opportunities. The platform is specifically designed to connect students with top employers and every job seeker has a chance at success.
This is why we have developed sample resumes for the most popular tech jobs. Just like we did for data analysts.
The format of your resume is also an important factor as employers only take a few minutes to skim each CV.
Let us help you create a winning resume and take the first step towards landing your dream job.
The top three fonts to use are Calibri, Cambria, and Helvetica; being the neatest and most legible. The size can be either 12 or 10 in order to be legible and headings can be either size 12 or 14.
With regards to spacing, stick with single-line spacing.
You don’t want to cram your resume with text as it will look unprofessional. Large margins on the other hand make it look empty. Your best option is to use one-inch margins on all sides.
Firstly, read the job description and follow the employer’s instructions. Send whichever format they specify and send their preferred format.
If there are no specifications, usually a PDF document is a safe choice. It will preserve your formatting and open as a professional-looking document.
One disadvantage is if the recruiter is using an applicant tracking system, (ATS). The software may have trouble scanning your CV and skip crucial information.
If unsure, you can show some initiative and reach out to the hiring manager and enquire about their preferred format. Alternatively, simply send CVs in both formats.
Proofread Your Resume
Take the time to ensure 100% correct spelling, grammar, and formatting. Sloppy mistakes on your CV are a sure-fire way to demonstrate to your potential employers that you don’t have attention to detail.
Highlight Your Strong Points
To avoid sending a generic resume, you will need to address the needs of the company.
To do this showcase your skills at the top of your resume. Pay close attention to the necessary skills listed on the job posting and match your strong points to the advertised position.
This is one of the tricks to creating a successful tech resume that will get you into the interview room.
Write an Engaging Experience Section
The work experience section is probably the most important part of a tech resume. Employers know what you did by looking at the job title. They are more interested in how you well did it.
This section will be proof that you can perform the technical skills you have described.
To make your experience section engaging, follow these tips:
Make use of bullet points
Use short, descriptive sentences
Prove your experience with links to your previous work or portfolio
Include the duties and responsibilities of the jobs you provide
Write According to Your Experience Level
Those with extensive experience have very different CVs compared to recent graduates.
For an expert, their education level is not going to be a deciding factor. They can simply write:
2011 – 2015
Stanford University
B.Sc., Software Engineering
This section should be placed directly under your career statement.
For those without an extensive work history, place your degree and learning institution below your education level. This means your education section will be more detailed, like so:
2011 – 2015
Stanford University
B.Sc., Software Engineering
Chairperson of IT-Hub, the campus machine learning club, 2014 – 2015.
Completed eight advanced Java programming classes to cement my knowledge.
Broadcasted an online webinar on best practices for security in cloud services.
Wrote for the S.U. Mag, specializing in IT-related topics on a monthly basis.
Use Sentences That Get Straight to the Point
Do not use overly-long sentences when writing your resume. You want to keep the sentences short, and preferably in bullet point form. Here are some tips when writing the bullet points;
Start with an action verb: Oversaw
Describe a specific task: Software upgrading campaign
Complete with a quantifiable point: Cost reduction of 10%
The final sentence will read:
Oversaw a software upgrading campaign that resulted in a cost reduction of 10%.
Your resume should also get straight to the point.
“I want to be able to quickly glance at a resume and make sure they meet the criteria for the level of position I’m looking for and then if they do, I’ll read their resume more closely,” Melissa Wallace, Talent Acquisition Partner
Because most tech jobs are results-oriented, provide context on how you have used the skill to achieve results.
Use metrics to quantify your success. Using percentages is a great way to quantify your abilities.
Some bullet points to quantify your results could be:
Achieved X results in Y amount of time.
Reduced costs by X amount using XYZ software.
Ensured X customer queries were resolved using XYZ methods.
You should also include details of your skill level. Are you a beginner or an expert? Mention this along with each skill.
If you don’t, the recruiter may find your CV to be lacking and assume you do not have the correct qualifications.
You also don’t want a resume that is too long, and tiresome to read. However, do not leave out important information; striking a balance is key.
Talk About Your Projects
Highlighting your relevant projects in this section demonstrates your practical application of skills and problem-solving abilities. Include a concise description of each project, the technologies utilized, your role, and the achieved outcomes. Here are a few project examples:
Project 1 example: Market Analysis and Strategy Development for a Tech Startup Description: Conducted comprehensive market research, analyzed industry trends, and devised a strategic plan for entering new markets. Led a team of three members and implemented digital marketing campaigns resulting in a 20% increase in customer acquisition within six months.
Project 2 example: Financial Modeling and Investment Analysis Description: Developed a financial model to evaluate investment opportunities in the technology sector. Utilized discounted cash flow (DCF) and sensitivity analysis techniques to assess risk and return profiles. Presented findings to an industry expert panel, securing $1 million in seed funding for a startup.
Outline Any Open Source Contributions
If you have contributed to open-source projects or participated in hackathons, highlighting these experiences showcases your collaborative and innovative nature.
Here’s an example…
Open Source Contribution: Contributed to the development of a machine learning library focused on natural language processing. Implemented new features, conducted code reviews, and collaborated with a global team of developers to enhance the library’s functionality.
Expand On Your Leadership and Teamwork Abilities
Demonstrate your leadership skills and ability to work effectively in team-oriented environments.
Here’s are a couple of examples:
Technical Team Lead, XYZ Software Company Description:
Oversaw a team of eight software engineers, providing guidance and support in the development of a complex web application. Led daily stand-up meetings, delegated tasks, and ensured adherence to project timelines. Implemented agile methodologies, resulting in a 20% improvement in team productivity and successful delivery of the project ahead of schedule.
Project Manager, ABC Tech Solutions Description:
Managed a cross-functional team of designers, developers, and quality assurance specialists for a mobile app development project. Defined project scope, created timelines, and allocated resources effectively. Facilitated regular communication and coordination among team members, resulting in a seamless development process and the timely delivery of a high-quality app that received a 4.8-star rating on app stores.
Remember to adapt these sections to reflect your actual experiences, skills, and achievements.
How Is a Tech Resume Different From Other Industries
All tech jobs require very specific skill sets and in addition, many companies are looking for a well-rounded individual.
You need to have a section assigned where you can list your skills. Make a table and include it just after the experience section of your resume.
There are some major things that you must include in your tech resume.
Some of these include;
Contact Information: Include your name, professional title, phone number, email, LinkedIn handle, and personal portfolio, blog, or website.
Career Summary: A short introduction that highlights your career progress and specific skill set. It should only be a few lines and encourage the employer to read the rest of your resume.
Experience Section: Up to six bullet points describing the roles and responsibilities of your previous jobs.
Education: List your schools and degrees achieved, as well as the corresponding years. Include honors and awards, and if you are fresh from school, you can add your GPA grade. Under this section, you can include certifications and professional memberships as well as achievements and awards.
Skills: Use our tips to create a skills section to grab the reader’s attention. Even if creating a tech resume, some skills are desirable across the board. Here are a few:
– Leadership
– Teamwork
– Research
– Analytical thinking
Optional Sections: If you have space, create a hobbies and interests section. It should reflect your personality and fit in with the company culture.
To stand out, show that you have enough business acumen to perform high-level jobs. You need to be able to manage teams of technicians and communicate with high-level management.
Studying a solid, certified MBA program is a great addition to your job-specific skills and will help you go up a level – especially in the eyes of the employer.
A free Quantic MBA has been developed by leading professors to create a comprehensive 9-course curriculum.
Once completed, the areas covered will earn you a DEAC accredited degree. Some of these include:
Accounting and finance
Data and decisions
Markets and economics
Marketing
Strategy development and entrepreneurship
Want to Get Hired in Tech?
Quantic’s students only have good things to say, but as a tech worker, you may have some doubts about delving into the business world.
You can rest easy and be sure you are making the right decision, just like Front-end Engineer, Robin Lu.
And that dream job, won’t just land on your lap. You will need to spend time and possible money getting your resume to the right recruiter.
As a Quantic student, you will be able to apply to exclusive positions in your chosen field.
The QuanticTalent platform gives you access to recruiters who are looking for Software Engineers, Data Scientists, Product Managers, UX/UI Designers, and more at top tech companies.
