8CIOReview | | DECEMBER 2020IN MY OPINIONBy Prashant Fonseka, Principal, CrunchFundGROWING WITH THE OPPORTUNITIES Prashant Fonseka is the Principal at CrunchFund; a tech investor with an entrepreneurial background, who has been establishing businesses, leading organizations, and guiding entrepreneurs for more than a decade. At CrunchFund, he is committed to solving operational and administrative challenges, and brand building. In his professional career, he has strengthened several businesses; raising revenue and helping them realize their visions and dreams. He has an individual enthusiasm for contributing to different classes including real estate, public equities, and debt. In an interview with Prashant, he provides insight on the challenges faced in the venture capital industry while responding to the challenges of early-stage startups. Past, Present, and Future of TechnologyThe advent of technology has undoubtedly been a catalyst in the swift evolution of the venture capital landscape. However, the alignment of the technology practices adopted with the organization's goal is quintessential to accelerate business growth. For instance, there are more SaaS investors now than ever before, but even they find it difficult to generate revenue. The metrics that are required and expected from businesses are significantly inflated. A lot of startups mushroomed recently are leaving no stone unturned to capitalize on the technological boom. But only a few of them get funded and remain competitive in the market. When I started my career in 2013, the digital era was relatively new, and there were a lot of greenfield opportunities. The cloud proliferation was significant, and most of the companies were expecting new cloud-based software platforms. Over the last decade, businesses have seen a lot of progress, especially in the mobile applications side. Businesses are making all the possible attempts in leveraging mobility across their business operations. Down the road, business professionals are showing a lot of interest towards AR and AI in transforming their business workflows. Staying close to customers and taking their feedback at the very first stage helps both customers and enterprises
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