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THE RISE OF THE TECH START UP

Thursday 7th May 2015
A recent article published in The Guardian brought to light a recent change in the American employment market which could signal a similar development on this side of the pond. The article, written by Will Hutton, discussed how the American Finance Industry, specifically Wall Street has for decades been the biggest contributor to their economy which, along with the high earning potential and its associated status has made Wall Street the number one career choice for graduates from top Law and Business schools.

With the increasing success of Silicon Valley from companies like Facebook, Google and Linked In, the west-coasts entrepreneurs and start-ups are now offering an attractive proposition for the very same graduates that would have traditionally entered the Finance industry.

HOW CAN A START-UP COMPETE WITH AN INVESTMENT BANK?

That’s just it, a start-up in many respects, isn’t trying to compete with the corporate world of finance. The core product of Silicon Valley – Technology, is experiencing huge growth spanning global markets which is impossible to ignore. This offers those joining hi-tech start-ups to work in an environment that seems so much more current. Start-ups by their nature have flat organisational structures, with the autonomy to work on their own terms and the flexibility that allows them to innovate. The World is now awake to the idea that Technology can bring about such change.

HERE IN THE UK

Pockets of hi-tech businesses have been quietly emerging in the UK in London, Bristol, Leeds, Manchester, Oxford and Cambridge. In these hotbeds of activity,  top graduates have the pick of companies to work for, perhaps giving them the opportunity to work to companies that they genuinely have an affinity with and buy into the values of, rather than joining a corporate giant because it previously have been considered to be the sensible career choice. Yes, there are some perceived risks in joining start-ups or small entrepreneurial outfits, but there can be more significant gains (in terms of involvement and success as well as longer-term financial gains where a company does go public). It is my own opinion that there is a feeling of enthusiasm in wanting start-ups to succeed and acceptance or even kudos associated with joining a less-established business.

WHO CAN LEARN FROM WHO?


If the success of Silicon Valley is emulated here in the UK and is sustainable, perhaps the corporate world can learn things from the start-ups to ensure that they continue to attract top talent by making their employees feel involved and aligned to the core values of the business.  Equally there are tried and tested models of how to operate which has enabled corporates to operate and grow successfully; these models could benefit start-up companies looking to grow.  

What is your experience of working in the Tech sector? Did you make a conscious choice to join a well-established corporate on graduating or was a start-up business more attractive to you? We would love to have your views. Tweet us @amsourcetech

 
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