Connect with us

Startups

How Startups Can Help Shape Regulatory Policy

Published

on

Opinions expressed by Entrepreneur contributors are their own.

Innovation is the leading driver of economic growth, and it’s often small startups leading the charge. When it comes to regulation, the most disruptive and innovative business models — by definition — lack a regulatory regime to govern them, leaving them vulnerable to misguided policies. To succeed, innovators must help nurture and shape the direction of future regulation. For a small startup, however, that can seem nearly impossible. 

anyaberkut | Getty Images

Thankfully, it’s not only possible, but has also been done before. I serve as executive director of the Blockchain Association, which launched in 2018 to represent the U.S. cryptocurrency industry in Washington, D.C. Since crypto technology is barely a decade old, our members are young companies focused chiefly on getting off the ground. Essentially, the Blockchain Association is a startup representing startups.

Last fall, our young industry was tested when the Senate unveiled its sweeping Bipartisan Infrastructure Law, which contained an IRS reporting provision that would be impossible for many crypto stakeholders to comply with. While we support smart, clear regulation, this provision would stifle many small innovators and drive businesses — and jobs — overseas.

Like many startup sectors, the crypto industry doesn’t have the historic connections and relationships with policymakers that older legacy institutions do. To many casual onlookers, it seemed as though we’d be rolled over, and the provision would pass without controversy.

However, that isn’t what happened. Instead of being steamrolled, the crypto industry rose up with a unified voice and pushed back. While the provision ultimately passed, we made significant inroads with policymakers that will better equip us for future fights down the road. 

Related: The Future Role of the Chief Innovation Officer

Here’s what we learned in that debate that could help other startups in similar situations.

There’s power in numbers

First, recognize that you aren’t alone. Social media connects us with others in similar situations that can have our backs when we need it. Additionally, there are countless trade associations across the spectrum of industries that startups can connect with for insight into issues and decision makers.

When the infrastructure provision was first announced, we joined with crypto advocates from across the country to create a loud chorus of opposition. People from all 50 states were sharing how damaging this provision was and how it would impact their businesses and communities. Media and lawmakers took note, and where once this provision might have passed without a peep, it was suddenly a major controversy generating significant buzz in Washington.

The difference between antagonism and misunderstanding

Another lesson we learned was to tell the difference between antagonism and misunderstanding. In our conversations during the infrastructure fight, we came to realize that most of the proponents of the IRS provision weren’t hostile to crypto; they just misunderstood it and how it was currently regulated. We approached our conversations from that point of view and focused chiefly on dispelling myths and educating policymakers on our position. With this approach, we built trust with lawmakers and even activated new crypto advocates in government.

This is an important point for those of us working in startups. If it’s true that politics is downstream of culture, then I’d add that politics is even further downstream of innovation. When we’re working with our chosen innovations every day, it all makes sense to us. But we need to recognize that there will be an education gap when we start introducing ourselves to the world, and as such, we need to focus on educating and building trust from a place of mutual respect.

Related: Starting a Business? Here’s How Innovation Will Take You Ahead.

Don’t give up in the face of a challenge

Finally, we learned how important it is not to give up, even if things don’t work out at first. As I mentioned, the crypto provision was ultimately passed as part of the infrastructure law. However, the outpouring of support and the conversations we had during that fight made our presence known in Washington more than we ever could have hoped. In the months since, we’ve seen policymakers more interested in learning about crypto, and they’re more willing to work with us to craft smart policy. For other startups who may battle misinformation, it’s important to note that a defeat today could set the stage for victory tomorrow.

New innovations and technologies will inevitably face misinformation and mistrust when they emerge, especially from inside the Beltway. For startups, navigating this can seem like a daunting, if not impossible, task. However, as the crypto industry showed last fall, if you join your community and speak up and dispel myths with persistence, you can make inroads that will one day lead to success.

Related: The Power of Innovation

Startups

These are the 12 big bets of future disruptive technologies

Published

on

The 12 big bets on future technologies as per Nasscom report

The National Association of Software and Services Companies (NASSCOM) and Boston Consultancy Group (BCG) have identified 12 big bet technologies that can potentially disrupt markets in the next 3-5 years.

A report titled “Sandboxing into the Future: Decoding Technology’s Biggest Bets”, has identified these technologies of the future: autonomous analytics, Artificial Reality and Virtual Reality, autonomous driving, computer vision, deep learning, distributed ledger, edge computing, sensortech, smart robots, spacetech, sustainability tech, and 5G/6G.

AR VR concept image

The report noted that these 12 technologies will unravel in diverse ways, giving way to regional and vertical-specific big bets. While buyers in North America and Europe are betting on technologies such as autonomous analytics, APAC is likely to focus more on 5G/6G technologies, sensortech and smart robotics. Overall, technology buyers anticipate that investments in emerging technologies will account for 70%- 80% of tech spending by 2030.

“Going forward, it will be interesting to see how businesses will put their bets on emerging technologies and how they would be taking ahead the tech revolution for the larger good of the society,” said NASSCOM President Debjani Ghosh.

Cognizant acquires Utegration

Leading technology services company Cognizant has said it bought Houston-based Utegration LLC, a full-service consulting and solutions provider specializing in SAP  technology and SAP-certified products for the energy and utilities sectors.

Cognizant will gain approximately 350 employees in North America and India upon the close of this acquisition.

“We believe Utegration’s rich industry expertise and differentiated portfolio of energy and utilities-focused products and accelerators is a perfect complement to our SAP practice,” said Rob Vatter, Executive Vice President of Cognizant’s Enterprise Platform Services.

Utegration serves over 50 North America-based clients in the energy and utilities sector with solutions across four domains aligned to market needs: customer experience, billing and advanced metering infrastructure, managed services, data science and analytics, and finance and asset performance management.

HCLTech partners with Intel and Mavenir for 5G solutions

HCLTech, a leading Indian technology services company revealed a new collaboration with Intel Corporation and Mavenir to develop and provide scalable private 5G network solutions for communication service providers (CSP) and broader cross-vertical enterprises.

Through this new collaboration, the companies will work closely on a range of projects and activities across enablement, go-to-market and sales acceleration, with the goal of delivering more 5G solutions to CSPs, Internet of Things (IoT) and enterprise verticals, a statement said.

HCL

The three companies will work cross-functionally to add new offerings and help generate greater value for enterprises. The companies will develop a cloud-native enterprise-to-enterprise (E2E) architecture of an Intel Xeon processor-based 5G solution leveraging Mavenir RAN, Intel SmartEdge and HCLTech’s management, orchestration and automation services.

“There is currently a great need for scalable, reliable 5G solutions across nearly every enterprise and industry,” said Kalyan Kumar, Chief Technology Officer, HCLTech. “This need represents a major opportunity to innovate and deliver solutions that will have a major impact on business operations and outcomes.”

Collins Aerospace to expand operations in India

Collins Aerospace, which is part of Raytheon Technologies has announced that it will be expanding its operations in India. The company inaugurated its Global Engineering & Tech Centre and a new India Operations Centre to mark its 25th year in Bengaluru.

Collins Aerospace has also pledged significant capital and manpower investments over the next five years given that the Indian aerospace & defence (A&D) market is projected to reach $70 billion by 2030.

The team at Collins India is actively collaborating with Indian R&D organisations like NAL, CMTI, DRDO for study into materials, additive manufacturing, pre-qualification tests and other important projects.

Wipro bags top honour for workplace inclusion

Wipro Limited, a leading Indian technology services and consulting company, has been recognised as a ‘Gold’ employer by the India Workplace Equality Index (IWEI) 2022.

Awarded to the top employers by IWEI, the gold employer is the highest of 3 levels, where an organisation is credited with ‘embedding inclusion in the workplace.’ Highlights of Wipro’s efforts in this journey include recognition of Wipro’s leadership in India to advance LGBTQ+ inclusion in the workplace, from organisational policies to external communications.

wipro

It also demonstrates a long-term and in-depth commitment towards LGBTQ+ inclusion, where Wipro has implemented several initiatives enabling its employees to become active allies for the community.

Source link

Continue Reading

Startups

Corraling Kafka: New ecosystem simplifies, democratizes event-streaming data for enterprises

Published

on

Aiven, a cloud-data platform based in Helsinki, has fleshed out an open-source ecosystem for Apache Kafka, a popular event-streaming platform. The new offerings promise to help enterprises consolidate their Kafka infrastructure using open-source components. 

“Event streaming is transitioning toward the main stack of the IT infrastructure,” Filip Yonov, director of data streaming product management at Aiven, told VentureBeat. “At Aiven, we have witnessed the fastest growth in the event-streaming domain compared to all other products.”

Apache Kafka provides the infrastructure for wiring streams of data together from databases, apps, IoT devices, and third-party sources. Kafka helps organize raw data into event streams that reduce data size and are easier to integrate into event-driven apps and analytics. Enterprises use it to improve customer experiences, build the industrial metaverse and monitor patients. 

However, building out a Kafka infrastructure involves a lot of moving parts. Aiven has consolidated all the necessary tooling into one place to simplify this process. Key new enhancements include support for Apache Flink and data governance. These complement existing tools for connecting services, replicating data and managing schemas for Kafka deployments.

Event

Intelligent Security Summit

Learn the critical role of AI & ML in cybersecurity and industry specific case studies on December 8. Register for your free pass today.


Register Now

The need for simplicity

LinkedIn originally developed Kafka to integrate data across its large microservices infrastructure and open-sourced it in 2011. Over the intervening years, large enterprises have customized the tooling for their own needs, and several vendors have rolled out proprietary enhancements to fill in gaps around governance and integration. Many organizations use Kafka for various data pipeline scenarios, such as transferring data between applications in real-time or moving data from a database to a data warehouse.

Yonov told VentureBeat that as Kafka clusters become larger and more complex, they require additional tooling and governance to ensure proper operation and management. “Unlike existing Kafka solutions, Aiven’s offering does not require organizations to choose between proprietary tools and vendor lock-in or open-source technologies without support,” he said.

Improving the developer experience with event streaming

One essential aspect has been to democratize the experience for working with event-streaming data. The open-source tool, Klaw, provides a self-service interface for managing Kafka clusters. Kafkawize, which develops Klaw, recently joined Aiven’s open-source development office in September to help integrate their tools together. Now they are working together to improve self-service, simplify user management and enforce data governance. 

Another significant development was to connect streaming data to SQL queries familiar to data engineers. The new Aiven for Apache Flink tools allows teams to process larger volumes of events and run real-time analytics using SQL. Aiven provides this as a fully managed service that reduces the complexity of deploying a Flink cluster. It also simplifies the integration with Aiven for Apache Kafka to filter, enrich and aggregate events on the fly. 

Aiven hopes to replicate the success of other open-source frameworks like PostgreSQL, Kubernetes and Linux, built by a healthy mix of contributions from various communities. 

“We truly believe that fostering an open-source, community-driven and inclusive ecosystem of technologies around Apache Kafka can drive further innovations and new developments in the data-streaming domain, ensuring the long sustainment of the technology in the future,” Yonov said.

Source link

Continue Reading

Startups

How do tech layoffs impact PERM and the green card process? • TechCrunch

Published

on

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

TechCrunch+ members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.


Dear Sophie,

I handle HR and immigration at our tech company. We filed a PERM for one of our team members about five months ago for her EB-2 green card, and we’re awaiting certification from the Labor Department. We’ve been gearing up to start PERM for another employee.

Will the layoffs in the tech industry affect the PERM process for EB-2 and EB-3 green cards? What will happen to my team members’ green cards if our company has to do layoffs?

— Pondering in People Ops

Dear Pondering,

It’s wonderful that you’re steadfastly supporting your team with green card sponsorship. This can provide unfathomable peace of mind for people still on non-immigrant status in the U.S. through the green card process. We’re here to help ease the holiday season with education on the options for both companies and individuals.

Let’s dive into the winter wonderland of PERM and employment-sponsored green cards.

Will tech layoffs impact the PERM process?

For the permanent labor certification application — or PERM — your company is currently working on, the short answer is yes, the layoffs may have several different effects depending on where your company is in the process.

The PERM green card process is a multistep and time-intensive one involving a labor market recruitment test requiring employers to demonstrate to the U.S. Department of Labor (DOL) that there are no qualified U.S. workers (U.S. citizens and green card holders) who are qualified, willing and able to fill the EB-2 or EB-3 PERM position. PERM also aims to ensure that the opportunities, wages and working conditions of U.S. citizens and green card holders are protected.

A composite image of immigration law attorney Sophie Alcorn in front of a background with a TechCrunch logo.

Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window)

If you are in or will soon start the PERM recruiting phase, you may receive a larger number of job applicants for your job posting due to the recent layoffs in the tech sector. With an uptick in potentially qualified applicants, it could prove more difficult to demonstrate that there is no qualified U.S. worker to fill the PERM role. If a qualified U.S. worker is ready, willing and able to fill the PERM role, the labor market test fails and the DOL will not grant the company’s PERM labor certification.

Keep in mind that unemployment is a big concern for the DOL. During the last recession, when millions of jobs were lost, DOL increased its scrutiny of the adjudication of PERMs, particularly within the financial sector, to ensure displaced U.S. workers were considered for positions before international talent.

At the moment, the U.S. unemployment rate is under 4%, so we have a ways to go before we match the 10.6% unemployment rate in 2010. Although there have been many layoffs in tech, I remain optimistic, as there are other indicators that the economy is still strong and there are many job requirements in and beyond the tech sector.



Source link

Continue Reading

Trending

URGENT: CYBER SECURITY UPDATE