‘Tech can’t do much in the absence of a digital footprint’ – 20 quotes of the week on digital transformation

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week (see the previous edition here). This special series of quotes focuses on the increasing impact of digital media around the world. Share these 20 gems and insights with your colleagues and networks, and check back to the original articles for more insights.

See also our pick of Top Quotes of 2021 on Entrepreneurship, Investment, Digital Transformation, Storytelling, The India Opportunity, Pandemic Resilience, Failure Recovery, Design, and Art.

While the digital ecosystem has evolved locally, many innovations across sectors will come from early-stage startups which will need support beyond the capital. - Bhushan Patil, Multiply Ventures

There is a greater acknowledgement among investors, particularly entrepreneurs, to have a diversified portfolio. They are now open to taking high exposure and looking at wealth generation. - Richard Pattle, True Beacon

Drone-tech startups have enabled us to break through new blockades in various industries by reducing costs, increasing efficiency, and offering a simplified distribution model. – MSR, T-Hub

Sometimes the best time to start is when there is a recession, because, for the next 12 to 24 months, a lot of larger companies will be heavily focused on revenue-generating products instead of venturing into other territories that are just making news. - Anish Achuthan, Open

The application of technology, especially with the popularity of social media, is the newest addition and the most significant contributor, accelerator, and amplifier to the crowdfunding landscape. - Bibhu Mishra, Global Education and Leadership Foundation

Even if there's a bear market happening, there's always an opportunity for traders. - Shrini Viswanath, Upstox

In the 2020s, people save like they are in the 80s. They save manually and lack discipline and structure, although their intent and ability to save are high. - Naimisha Rao, Gullak

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Esports fans around the world spend about 8-10 hours a week watching tournaments and gameplay, yet there are not enough avenues for players and viewers to monetise their knowledge in any way. - Rishabh Bhansali, FanClash

Esports has proven to be the next step in the evolution of the gaming industry. This is a global market that still has massive unsolved problems around fantasy as well as fan engagement. - Anirudh Singh, Alpha Wave Global

The success of the EV-led logistics sector depends on the ecosystem developed around it, including partnerships, sourcing the partners, two and three-wheeler rentals, vehicle maintenance, financing partners, etc. - Aashirwad Deshmukkh, Howdyy

Content is the new economy, so there is a need for a unique serial identification system. Think of it like a small insurance policy for your content. - Abhishek Singh Rajpurohit, AcknoLedger

The newer, emerging disciplines of deeptech and others will need us to invest in creating capability at the fundamental level. - Harish Mehta, 'The Maverick Effect'

The Great Resignation and automation are mandating stronger investments in human capital. - Jeff Maggioncalda, Coursera

Merchants in today’s time are overwhelmed by a plethora of stand-alone applications for every small or big requirement of theirs. - Varun Tangri, QueueBuster

With rising acquisition costs and more focus on retention, brands are doubling down on owned platforms like email, SMS, and mobile apps to reach their customers. - Atul Poharkar, Plobal Apps

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Difficulty in finding the right supplier, inadequate supply chain infrastructure, high levels of intermediaries, and lack of supply chain visibility are a few challenges faced by buyers while sourcing from India and other Southeast Asian (SEA) countries. - Amit Sharma, Geniemode

The process of procuring products and services to build an office is very archaic and is filled with multiple issues. - Arsh Chaudhry, Space Matrix

Hotels bump up the prices of rooms by keeping in mind the commission they pay to the booking agencies. - Sibasish Misra, Bookingjini

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Customer-centric acquisition, product designs, in-house optimisation, and efficiency needed at scale are practically impossible without some tech initiatives. - Ankur Tripathi, AU Small Finance Bank

Technology helps to sustain economies and unlock values at scale. We can use it to reverse the learning loss. - Ajai Chowdhry, Epic Foundation

Tech can’t do much in the absence of a digital footprint. - Gaurav Lahoti, Khatabook

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).