Tech start-ups in for a difficult period, industry chief warns

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Start-ups should hold off fundraising until 2024 at the earliest as the current crisis affecting the tech sector is likely to continue for some time, according to the head of a prestigious accelerator programme.

Speaking on the fringes of Web Summit’s North American sister event, Collision, in Toronto last week, Maëlle Gavet, chief executive of US-based Techstars, said there was no doubt that companies were in for a difficult time.

“There will, of course, still be innovation, but the reality is that there will also be a bunch of bankruptcies and of companies that are going to disappear, and of people who won’t get paid. We should not ignore this reality,” Gavet told the Business Post.

 

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ChasTaylor Should we live on noodles and in unlit and unheated basements until then?

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