Trends and Localization Techniques for Tech Startups

The tech startup market is currently booming. According to the New York Times, the number of tech startup “unicorns” valued at over $1 billion dollars or more is at least 143, a monumental increase from less than a dozen in 2010. The colossal $50 billion worth of venture money invested in 2014 is more than double the $23 billion figure invested in 2010.

The market may cool down in the future; however, for now, Silicon Valley seems to be experiencing another boom. Significant technologies like wearables, Internet of Things (IoT) and artificial intelligence are all attracting heavy investment. These investments center around “globalization” to reach the valuations. Globalization means localization for most of these startups.

Where is the money going? At present, $1 billion is being committed to wearable technology startup companies. Wearable technology is revolutionizing the health industry, with well-known global brands introducing technology such as activity tracking wristbands and eyewear. New startups are also developing new innovative technology, including headbands to detect brain injury, low profile patches to monitor vital signs and contact lenses which can monitor blood sugar levels. Wearables are becoming a fast growing trend among start-ups. By 2016 the wearable market is expected to gross almost $2 billion in revenues.

Another key trend in the startup market is the development ofartificial intelligence (AI). With Intel buying startup Saffron AI, Apple purchasing VocalQ and Toyota investing $1 billion into an AI research company based in Silicon Valley, investing in the AI market is another growing trend for startups. This increase in interest is due to the belief that AI will be the next big thing for the technology market.

Wearables, IoT and artificial intelligence were discussed at the recent Localization World 29 event in Silicon Valley in the keynote presentation by Scott Amyx, How Wearables and IoT are Reshaping Customer Engagement.

THE LOCALIZATION APPROACH

Tech startups consist of a fairly immature globalization strategies built in fast moving and dynamic markets with big growth forecasts and backed by opportunistic investors. These companies are often very small teams with no marketing departments, human resource departments or sales teams — let alone localization teams. Due to high growth targets, speed is essential to these companies beating the competition and establishing themselves as a fully functioning business. Tech startups need to get their product to market as soon as possible to meet customer demand and get their offering into the hands of consumers before competitors.

In order to establish themselves quickly these companies have to expand internationally as soon as possible, launching in as many geographies as possible. This is not only to out maneuver competitors, it also is critical because the technology industry is now a global business. Software is naturally a global product, websites are global, content is global. If it can be found online, downloaded and distributed digitally using the cloud and Internet — it is global.

Translation and localization of these tech startup products have to be done quickly in order to match the speed at which the company is growing. Here are three tips when developing localization programs for tech startups:

• ALIGN LOCALIZATION GOALS: It is important to align your localization goals with your wider corporate goals to achieve rapid global expansion. Keep them front and center to prevent them losing momentum and becoming side lined. Manage localization centrally because managing localization separately can result in duplication of efforts, wasting precious time.
• CREATE EFFICIENCY: Nail the tactics and operations. Document the workflows that deliver the output you need when you need it. Define the key metrics, establish priorities in terms of content types and get the right people in place for the right content types. Be flexible. It is important a localization program is flexible and can easily scale to match the overall growth and changes taking place in the organization. Having processes in place provides a vital platform to execute on the corporate strategy and creates an ongoing process to manage consistently and properly. It also enables the localization program to gain the right visibility for key stakeholders and C-suite level management.
• SELL, SELL, SELL: Understand and develop relationships with your internal customers and stakeholders to understand the global requirements. Make it easy for them to get localization services from a trusted provider. Set up shop within your company through intranet sites and meetings to promote your localization services by working with your partner to help get the word out and educate your language service buyers within the company.
• KNOW YOUR GLOBAL AUDIENCE: Whether you are launching a new AI tool, wearable technology or smart device, the key to reaching your global audience is to plan for globalization at the start. Software, mobile apps, websites, technical documentation, learning content, legal contracts, IP need language considerations. Building an enterprise with global potential from the beginning will help tech startups reach their greater potential, faster.

Overall, when considering the growth and trends of the technology startup market, it is important to consider the speed it takes to grow and succeed or fail.