Growing high-tech companies takes time

[Sonic Death Monkey]

Hicks on Biz: Growing high-tech companies takes time

Edmonton’s high-tech companies often receive gobs of publicity when they are new-born, touted by government-funded economic development agencies as can’t-miss companies with breath-taking new technology.

The expectation is of instant success.

The reality is most new, innovative companies face 10 years of blood, sweat and tears, are chronically short of investment cash, barely make their payroll and take two steps back for every three steps forward.

Everybody is looking for the next Microsoft, Apple or Amazon.

That’s not going to happen. For most start-up companies, on-going success is A) not going out of business, B) being a sound, small business generating $3 to $5 million in revenues a year, making a niche product with 10 to 50 employees, and C) if a company does shut down, its principal partners – bowed but not beaten – move on to other entrepreneurial endeavours.

What’s happening in Metro Edmonton is most encouraging. But it’s under the radar.

[ctzn-Ed]

The principle of success for any sector of commerce would be no different. Very few have the factor to lead a company from ground zero to Amazon or Apple. You need vission, fnance, a talent core ( which one must sustain), timing, and some luck just to start out. There are no overnigt success and no guaranty of success. If there is a momentum in our city, and it is under the radar, I much prefer that. Being under the radar is good, for it allows locals to grow with a chance to fully develope before venturing out to the big sea. We have great building blocks with institutions to help incubate that momentum. I care for subsance not glamour.