The ongoing industrial revolution swings on the hinges of tech-powered innovation. The rise of big tech companies in California’s Silicon Valley has greatly impacted how business is done and will be done going forward. Google, Microsoft, Facebook, Cisco, Adobe, Oracle, Intel, Apple and Hewlett Packard are some of the companies whose contribution in the fast growing digital economy is largely significant. These companies, among other non-silicon valley big tech players have set up regional headquarters in Kenya purposely to fill the market gap.
In his state of the nation address, delivered on the 12th of November, President Uhuru Kenyatta reported that an average of 300 companies are registered in Kenya every day. Looking at this figures in the light of job losses during the covid-19 pandemic, it is clear that many employees are now considering to venture into ‘side-hustles’ and those who have lost their jobs to the pandemic are starting their new companies. If we try to connect dots, we will realize that the cost of starting a company and running one has reduced thanks to the digital migration to e-commerce.
Inasmuch as millions of websites and social media accounts for business have already been established, it is critical for the investor to learn that the digital economy is still largely unexplored. There are market gaps all over from production, to storage, distribution and selling in every industry. There is also a large space for intellectual enterprise for consultants who wish to meet their customers on their handsets and personal computers.