At the core of such tech startups are often digital technologies that support novel business models. Digital technologies such as 3D printing, cloud computing, and data analytics have transformed the nature of entrepreneurial opportunities, processes of venture creation, and business outcomes.
Modular Architecture
Products built using digital technologies adopt a ‘modular’ architecture where the products can be easily extended and reconfigured to create add-ons without impacting the original core product. This capability offers several advantages: first, modular architecture supports novel processes of venture creation. A venture with digital products having modular architecture need not envision all product features at the outset. Additional features and product updates can be easily offered with minimal or no impact on the existing functionalities. For instance, digital platforms such as Microsoft Windows and Google Android initially supported a set of core features, which then expanded with a host of add-on apps in the App Store. As a result of the modular architecture of digital technologies, the entrepreneurial opportunity may be less defined at the outset.
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