Insyte Weekly: A Review of The Latest Entrepreneurship News

Tech Startup News

Entrepreneurs can learn a lot from SweepSouth's growth trajectory. In an interview with Ventureburn, Co-Founder Alen Ribic highlighted the importance of adopting a patient, measured growth strategy. SweepSouth initially started as a marketplace where customers could find domestic cleaners, now it offers more than 20 services across several African countries. Ribic discusses how a measured growth strategy helped the company adapt to new markets and cater to the unique needs of customers & workers in different countries. For instance, in Kenya SweepSouth had to venture into mobile money due to the unique payment ecosystem in the country. [Source: Ventureburn]

As reported by TechCrunch, ClearMotion, a Boston-based startup on a mission to make car rides smoother, just raised $39 million led by Nio Capital, a mobility-focused venture capital fund. ClearMotion plans to use the funds for its expansion into in-car 4D motions that integrate with the vehicle’s infotainment system. Christian Steinmann, CEO of ClearMotion, said this creates an “immersive in-car entertainment experience by integrating with movies, games, and the metaverse”. Nio Capital's investment would also be used to relocate ClearMotion's manufacturing operations to China: the company's actuators will be manufactured in Shanghai once its new assembly plant is completed. Furthermore as cited by TechCrunch 'The company has started hiring in China for engineering, software development, hardware, and customer relationship roles.' [Source: TechCrunch]

Introducing Nike Forward

Read any major company's annual report and it's clear that sustainability is integral to every forward-looking strategy. Nike is no different. This week, Nike introduced Nike Forward- an apparel creation process that 'requires fewer steps than traditional Nike knits or wovens which significantly reduces its carbon footprint.' Janett Nichol, Nike's VP of Apparel Innovation, said in the press release, “It’s game-changing platforms, like Nike Forward, that accelerate a culture of innovation at Nike to help protect the planet and the future of sport." Nike is recognised as one of the most innovative companies in the world and this innovation indicates its commitment to sustainability. [Source: Nike]

In the latest Apple event, Apple announced some highly anticipated features:

What is the impact?

I think aspiring entrepreneurs and early-stage entrepreneurs need to focus on strategy formation. As this week's review suggests, growth is arguably a consequence of strategy. Need to expand to a new country? You will need a strategy. Need to secure funding? You must convince investors you have the right strategy. Need to create innovative products/services? You need an innovation strategy. You can find out more about strategy formation here.