A startup is a business venture of certain founders or entrepreneurs, aiming to develop a repeatable and scalable business model. Although very alike, entrepreneurship and startups differ. While the latter aspire to grow beyond the solo founder, have employees, and surpass their initial size, the former refers to all new businesses, including those who do not wish to develop further. Startups do provide high levels of uncertainty as well as high rates of failure. However, they also have the potential to become large and influential. Many types of startups offer a variety of choices for all interested investors. This text will focus on Virginia tech startups that are worth your attention. However, before we dive into the main subject, we must address one crucial factor in the matter.
What makes a successful startup?
Investors tend to gravitate towards the founders who they feel can adapt to the company. The ability to climb through economic and business hurdles is highly valued. Motivation is also one of the key factors of a successful startup. It is important that the person who runs the startup has a clear vision, followed by the right reasons for embarking on such an undertaking. As mentioned, tough times meet every entrepreneur, so a certain level of persistence is a necessary trait. Another quality that is greatly sought after is problem-solving ability. One must come forth with an answer to the problem not yet solved in the market. A founder must also be well informed about the world’s happenings, the current problems that people face. Only by doing so will the product that he or she offers have a chance at succeeding. Lastly, if you want your startup to work, you must know how to sell it. Proper advertising is paramount, and marketing your website online should be viewed as a mandatory action.
Virginia Tech Startups worth paying attention to
The list in front of you contains carefully selected Virginia Tech Startups that are:
- Independent
- Privately owned
- 10 years old at most
- Have received at least one round of funding
There are several other factors that also have an influence on our choice:
- the revenue potential
- the leadership team
- product/brand traction
- competitive landscape
So, without further ado, let us begin:
Next-generation aviation surveillance technologies
Aireon‘s team intends to alter the status quo of surveillance technologies. For the uninformed, they are currently ground-based. Aireon, however, has a vision that involves a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B). This next-generation aviation surveillance technology will extend its reach globally. Real-time ADS-B surveillance will be able to cover oceanic, polar and remote regions. Besides doing so, it will also augment the existing ground-based systems which are now limited to terrestrial airspace. All stakeholders will be glad to know that this project will very much improve efficiency, enhance safety, and reduce emissions. The added advantage is that it provides cost savings benefits. Aireon has also partnered with the leaders in the field, companies like NAV CANADA, the Irish Aviation Authority (IAA), Iridium Communications, as well as ENAV and Naviair. This fact alone shows why Aireon is one of the top Virginia tech startups to watch in the upcoming years.
One of the 50 Fastest Growing Businesses
DTI Management first showed up back in 2012, with its location being in Alexandria. Aspiring individuals came together with a vision of changing the ticket distribution industry for the better. They did so by supplying full-service yield management to Rights Holders. This has given new business opportunities for all DTI Members. DTI Management runs the entire process of ticket distribution with great ease and efficiency. Everything from listing to sale, all the way to fulfillment, is now a routine business. This is all done with the help of their proprietary software platform. It is a truly unique technology solution. Besides enabling DTI’s ticket seller members to reduce their overhead costs, it also provides them with enhanced logistics. But that’s not the end of it. The members also get real-time data analytics and revenue sharing. Dynamic pricing and enhanced marketing strategies are also part of the benefits. And, if you won’t take our word for DTI Management being one of the best Virginia tech startups, perhaps Washington Business Journal will persuade you. It has recognized this startup as one of the 50 Fastest Growing Businesses.
Unlocking a spectrum of possibilities
Federated Wireless is a leader of the wireless industry’s spectrum revolution. Many agree that this startup unlocks a spectrum of possibilities. It enables a new shared economy model by using standardized subscription costs and pricing. However, that’s not all. It grants the opportunity to organizations of all sizes to prosper. They can become a carrier and cost-effectively deliver new services via the spectrum. Federated Wireless stands out for its unique approach. The team behind the startup has found a way to allow carriers both old and new to use and leverage the spectrum for a broad range of services. What’s more, they can do so in a quick and cost-effective manner. Such an endeavor ensures that this finite resource is preserved. In addition, it opens the door for the next wave of mobile business innovation. On the other hand, businesses and consumers also get their benefits. They will experience better service quality, no matter their surroundings. Meaning that they can be both indoors or outdoors. In a rural or urban environment. In short, they will have it all, wherever they may be.
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