Check Out Innovative Startup Tips to Survive the “Tech Bubble”

Since 2022 until now, many startups have been affected by phases bubbleburst, The implication is that many of them carry out unprofitable corporate actions, such as carrying out mass layoffs (termination of employment) for their employees. 

In industry startup, bubbleburst or also referred to as the term techbubble is an economic cycle in which the market value and asset prices of companies increase dramatically. However, this value inflation was followed by a rapid decline in value. This decline is often referred to by the term market crashes.

What is Bubble Burst?

Bubbleburst itself is not a new phenomenon. Since the 90's, bubbleburst had haunted the global internet industry with the title dot com bubble, which comes hand in hand with the skyrocketing internet era. At that time, investors believed that the presence of internet technology would definitely make the industry successful. 

They got carried away market hype and many invest in internet companies. If you look at that era, not many people were ready to accept the internet, even the supporting infrastructure was not ready. As a result, these internet companies failed to realize their vision and suddenly their stock value plummeted, forcing them to close their operations.

What Can Be Done in the Face of a Tech Bubble?

When experiencing bubble burst, startup will face various challenges, ranging from impairment funding, market volatility, until the competition gets tougher. 

One strategy that can be optimized to face this challenge is to collaborate with startup others and harness the power of the startup ecosystem. Synergies in ecosystems like this are expected to help startup stand up to techbubble because they can get supportive support to maximize strength, resource, and expertise so that the maintained business model can be sustainable.

How to Start Synergy in a Startup Ecosystem?

Before starting the intended synergy, the actors startup must focus on several things such as building strong relationships among other co-actors, have resource and knowledge that can certainly be shared, focus on sustainable growth and remain flexible and adaptive. 

By doing these things, startup who experienced techbubble it will be easier to find collaborating partners in the same ecosystem, where they can provide mutual support in the long term.

One of the steps that can be taken is to register yourself at Astranauts 2023. Astranauts is a digital and technology innovation competition for startups and students. By theme “Building A Sustainable Future Through Technology”, Astranauts 2023 aims at innovation and technology in the field sustainability, edu-tech, emerging tech, health, agribusiness, mobility, fintech, logistics, as well media & entertainment.

Register Your Best Innovation at Astranauts 2023

Astranauts 2023 registration has been opened from March 8 to April 30, 2023. The initial selection series will start from the session preliminary round, which took the 10 finalists off track startup and students. All of these finalists will get a session mentoring from experts in their fields.

Later, the selected finalists will present their business ideas on the Demo Day. This session will conclude with the 2023 Astranauts Awarding on 7 June 2023. On 8 June 2023, an Astranauts Conference will be held which offers a variety of interesting topics with expert speakers from their fields.

Both the Astranauts 2023 winners from the category startup and students will get cash prizes totaling hundreds of millions of rupiah. Not only that, the winners will also have the opportunity to collaborate with the Astra Group and can join as part of the Astra Startup Community.

Finally, another advantage that Astranauts finalists can get is the opportunity to take part in the Astra Innovation Lab incubation program and the opportunity to receive funding, through a pitching scheme with Astra Digital Ventures.

What are you waiting for? It's time to start your synergy and provide the best ideas for Astranauts 2023! for registration, click link the following.