My impressions of NYTech Day 2012 left me feeling empty. I had hoped the new crop of tech entrepreneurs would see the world differently then the predecessors of the past 20 years, but history in the tech industry keeps repeating itself. Start-up “businesses” lack focus and understanding of their market and industry they are competing in. Generally speaking there was little substance to the business planning from most of the new tech start-ups on the exhibition floor.
What I had hoped to see was fresh thinking to problem solving, an understanding of the consumer or customer’s pain points and empirical evidence to support business direction. What I did find was some very clever kids with great showmanship abilities in promoting. Ninety percent of the New York Tech Day was made up of aps that a smart investment group may see an opportunity to compile into businesses that may actually have long term sustainability and a viable revenue stream. But this would take a lot energy on part of an investment group to see the wisdom in doing this. I’m left thinking, in a year from now how many of these young start-up businesses represented in NY Tech Day will around next year. I estimate that 1-10 may be around – of course that’s me being optimistic.
What was awesome at NY Tech Day. Let’s first take a look at Kate Hough‘s honest review of the reality of New York Tech Day, you’ll get a sense of what it was like, and I am in agreement with almost everything she wrote.
Though there were some gems that had very little to do with tech and lot to with a clear pain point being solved and path to revenue. These businesses I think will do well:
- New York Mouth – I am a food nob this delicious new start-up is one that I can’t live without.
- ZocDoc – Wow! what a time saver though it doesn’t tell you if the doctor is taking on new patients or let you choose by gender.
- Little Borrowed Dress – Kate and I disagree on this one but I find bridesmaid dresses a burden to buy [$500+ on up) and there’s no value after you wore it – this business solves this problem nicely!
I’m giving an honorable mention to Knewton – I wanted to meet them but unfortunately time ran out for me. I like the concept of personalized education.
New York Tech Day sponsors, promoters, and backers here are some lesson to learn:
- Armory is old & dreary – pick a better spot something bright shiny new
- Cramming tables end to end made it difficult to get around
- Mix it up – have the new meet the old they learn so much from us – we been around.
NY Tech Day 2012 think of this as a learning experience, for NY Tech Day 2013 there will be lots of awesomeness [remember to define awesome] and I look forward to it!