Recently, I attended the GeoSmart Conference 2024 at Hyderabad, focused on “Powering digital public infrastructure through geospatial knowledge” organized by @geGeospatialworld forum / @geosmartIndia.
where I had the privilege of engaging with some of the brightest young minds in the AI startup ecosystem. These energetic and intelligent entrepreneurs are building solutions and products powered by AI. While many have integrated maps as APIs and are leveraging satellite data, drone imagery, and video analytics to address various challenges, I observed a key gap: a lack of in-depth knowledge about geospatial technologies and the broader industry landscape.
Observations on Emerging Startups
- Limited Awareness of Geospatial Industry:
- Despite utilizing geospatial data in their solutions, only a handful of startups seemed to have a comprehensive understanding of the geospatial sector, including its key players and opportunities.
- Exploratory Targeting:
- Many startups are still navigating their way toward defining a clear target customer base. They rely heavily on incubation hubs and startup networks to connect with potential customers in government and private sectors.
- Diverse Motivations:
- Startups seem to fall into two broad categories:
Opportunity-Driven Startups: These are ventures leveraging AI and geospatial data because of market trends but lack solid plans for sustained growth.
Passion-Driven Startups: These entrepreneurs are genuinely committed to solving problems but often lack the necessary technical, business, and industry knowledge to scale their solutions effectively.
My Advice to Startups
As a seasoned geospatial professional with over 24 years of experience in business development and strategy, I shared insights with some of these startups working on innovative AI-geospatial solutions, such as:
AI for Roads: Solutions focused on improving infrastructure monitoring and management.
Selective Image Modeling: Tools for natural resource management and disaster mitigation.
Here’s the advice I shared:
Deepen Your Geospatial Knowledge:
Understanding the nuances of geospatial technologies, their applications, and industry players is crucial for creating impactful and scalable solutions.
Define Your Target Segment:
Startups need to invest time in identifying their ideal customers, be it government agencies, private enterprises, or niche markets—and tailor their strategies accordingly.
Balance Technical and Business Expertise:
While technical innovation is vital, understanding the business side of things—market dynamics, customer needs, and industry trends—is equally important.
A Call to Action
If you’re a startup or individual working with geospatial technologies and AI, but feel the need for guidance in understanding the technology, business landscape, or customer dynamics, I invite you to connect with me. Through BE’n’KA Consulting, I offer expert training and advisory services tailored to empower startups with the knowledge and strategies they need to thrive.
Let’s work together to bridge the gaps, transform ideas into impactful solutions, and ensure sustainable growth in the geospatial-AI ecosystem.
