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The startup market peaked in 2021. We had a turbulent few years after that. Even the AI boom that attracted significant investment failed to revitalize a market battered by the banking crisis and industry-wide unfavorable conditions.
The beginning of 2024 brings expectations that the venture capital (VC) market will stabilize and funding will begin to increase. This is good news for startups, especially in the technology industry, as it creates new opportunities for growth and funding. But this window of opportunity is not wide enough to accommodate everyone, and competition will be fierce. Open source intelligence (OSINT) can be a differentiator for startups that excel at leveraging it.
Related: Think Like a Spy: How Open Source Intelligence Gives You a Competitive Advantage
Challenges and opportunities for startups
During the heyday of technology startups, the general public and investors were fascinated by visionary, relentless, fast-moving CEOs who were often referred to in the media as “geniuses.” Those days are over, at least for now. Tough economic conditions and a lack of available capital require frugal entrepreneurs who can demonstrate the ability to cut expenses and achieve sustainable growth at lower costs.
Founders and leaders of these startups will encounter both challenges and opportunities, and it takes creativity to turn the first into the second, even when funding is not always available.
One of the opportunities is that the recent wave of layoffs in the tech industry has made much more talent available. But this year, competition among tech startups will intensify on all fronts, including for top talent. Additionally, many established companies will be happy to accommodate Google and Meta outcasts.
Another disruptive factor is that investors are increasingly focusing on European startups. For U.S. companies, this means more competition for funding. However, entering the US market is by no means easy. If businesses from other countries want to reach U.S. audiences, they need to invest in understanding them and master digital marketing.
Furthermore, it will be difficult to deal with the ever-evolving regulatory environment on both sides of the pond. Public and legal scrutiny of the IT sector is increasing. Fintech is particularly in the spotlight as one of its newest superstars is reportedly trading mackerel cans in prison. On the one hand, regulation provides legitimacy and a level playing field. On the other hand, having to deal with legal procedures and their consequences can severely inhibit innovation.
Finally, technological innovation is faster than ever. Startups can use this to implement better solutions and introduce exciting new products. However, new developments can also make a product obsolete before it is operational. Moreover, there is probably no one who introduces new solutions to “business” faster than cybercriminals. And who better to target than a promising startup with little or no funding for cybersecurity?
What is Open Source Intelligence (OSINT) and how can it help?
Open Source Intelligence (OSINT) is the collection of information from publicly available sources to generate actionable insights. In other words, everything that is publicly available, from books and archives to what is freely accessible on the Internet, can be analyzed to answer intelligence questions. This resource is vast and powerful beyond imagination. What’s more, it’s free to use, as long as you have a way to extract and use it.
So this free resource can save a lot of headaches for frugal entrepreneurs. The following example shows how OSINT can help startups grow in difficult markets.
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Market research: Collecting OSINT in e-commerce can tell you a lot about consumers in a particular market (for example, which products sell the fastest). Additionally, OSINT provides valuable competitive insights in these markets. For example, you can predict your competitors’ plans based on job postings for specific professionals or in specific regions.
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Identifying opportunities in the labor market: Tracking labor market events through open web sources may also facilitate headhunting activities. In this case, automatic monitoring is the best choice. This allows you to learn about layoffs as soon as they are reported or rumored.
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Align your marketing and pricing strategies: Digital commerce is very dynamic. Both customers and competitors may act or react in unexpected ways. With OSINT, you can gather real-time insights and adjust your own practices on the fly. For example, you can change your prices to offer a better deal than your competitors.
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Avoid risks: OSINT helps you track reports of cyberattacks and threats and improve your cybersecurity. Additionally, software tools allow you to track international regulations and stay on top of data breaches that could impact you or your clients.
Achieving all of this without inflating costs allows some startups to stand out when making their case to investors.
Related: 3 Reasons Why You Should Spy on Your Competitors
How can I get OSINT effectively?
The Internet is the world’s largest source of information. It is also possible to collect OSINT manually from the Internet, but it requires time and resources. Early-stage startups often have neither. Even if you decide to spend some working hours scouring websites and reporting on competitors’ prices and latest technological developments, the results will not be very thorough. In many cases, they may be too late to take action.
Therefore, the most effective way to obtain OSINT is through automated web data extraction. This method, known as web scraping, utilizes proxies and advanced software tools to instantly collect large amounts of publicly available data. Real-time data captured on a budget is exactly what businesses need to survive and grow in what remains a highly turbulent and fast-moving technology startup market.
Related: How web scraping brings freedom to your research
Today’s big data landscape is sometimes compared to the gold rush of the 19th century. The gold was in the public domain for those who could find it and get it. Data, another valuable commodity, is similarly in the public domain, and everyone has equal opportunity to use it.
However, unlike gold, even if someone extracts it, the same information remains in place. However, unlike gold, data loses value over time and can quickly become worthless, so time remains of the essence. Therefore, the race to be the first to get resources and to make the most of them is still going on every day. Startups that leverage OSINT consistently and effectively will have a significant advantage when competing for growth opportunities in this era of prudent funding.
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