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Born & Raised in Tech-says! How “Millennipreneurs” Start Up & Change your world by Stephen JeffrEY, Senior Vice President, Private/Business Banker, Broadway Bank Austin Region

Millennial Entrepreneurs or “Millennipreneurs” are vastly different from any other generation. These 20- to 35-year-olds are starting companies in a larger and more profitable way and at younger ages than their Baby Boomer parents. Their companies are changing our daily lives—how we eat, play, travel and socialize. 

Think about it:

  • UBER – Global Taxi Company, owns ZERO vehicles. 
  • AirBNB – Global Accommodation Provider, owns ZERO properties. 
  • Skype™ – Global Phone Company, owns ZERO in telecom infrastructure. 
  • Facebook – Global Media Owner, creates ZERO content. 
  • Netflix – Global Movie House, owns ZERO cinemas. 
a young entrepreneur holding a tablet.

Cell phones outnumber toothbrushes 3.7 billion to 3.5 billion, and presently Facebook has 1.71 billion monthly active users (vs. world’s largest country, China’s population of 1.35 billion people.) WOW! These are indeed facts about how we increasingly crave this culture of technology and instant connection, fueling its growth and impact on the world.

But how do these companies get started? Is it really THAT easy to launch a mobile app and make millions of dollars? Not exactly. 

It’s no secret that Austin and San Antonio have become a hotbed of support for tech startups. In particular, Austin’s tech industry and culture has supported new ideas and companies from seed to sale. More than 150 people are moving to the “live music capital of the world” every day, many are Millennipreneurs. 

Tech startup incubators and accelerators are increasing by leaps and bounds in central Texas to support startup growth companies in their early stages. This includes both financial support and education and mentorship from experts in finance, legal, logistics, among other areas. These incubators and accelerators work closely with investing organizations—angel investors, venture capitalists and even co-working spaces. For these Millennipreneurs, who have the “next big idea,” this funding and guidance from experienced professionals ignites opportunities for them to change the world and can often be the difference between survival and death. 

Broadway Bank mentors Millennipreneurs to evaluate financial solutions to help make their vision and ideas a reality. We value our partnership with accelerator and incubator organizations to offer expertise in banking. We are committed to strengthening our community through personalized support and unique banking solutions!

Resources:
http://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwid
https://group.bnpparibas/en/news/bnp-paribas-global-entrepreneurs-report-2016
http://www.contentfac.com/more-people-own-cell-phone-than-toothbrush-10-crazy-social-media-statistics

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