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Extrepreneur – a new term for limitless founders
New Delhi (India), May 20: As the competitive landscape between global giants intensifies with the easy access to talent pool and resources, the new start-up founders have started thinking beyond their domestic markets- even from the nascent stage of their operations. These limitless founders, with a global mindset, doing business beyond their native countries are termed […]
New Delhi (India), May 20: As the competitive landscape between global giants intensifies with the easy access to talent pool and resources, the new start-up founders have started thinking beyond their domestic markets- even from the nascent stage of their operations. These limitless founders, with a global mindset, doing business beyond their native countries are termed as ‘Extrepreneurs’, a term coined by D Globalist, a Global Business Mobility Accelerator and a pioneer in building the concept of entrepreneur mobility.
If a domestic business was to be asked about its closest competition a decade ago, the answer in most of the cases would be ‘another local company’. The answer would however be different in the present world- with more and more companies focusing on bringing ease of services to their customers- without the need of a local permanent establishment. Considering the accelerated growth witnesses by these tech-driven industries, the competition is now not limited to the local companies but has been extended to these new era of entrepreneurs with cross-border capabilities
The inflection point for many of the successful companies is their ability to operate in multiple jurisdictions with minimum cost and maximum resources. These extrepreneurs led ventures work with an aggressive yet calculative approach when it comes to doing business in alien jurisdictions. Notably, the top three countries creating highest number of these extrepreneurs are India, China & USA.
According to the research conducted by National Foundation for American Policy (NAFP), more than half of the US unicorns have at least one founder coming from India. While the billion-dollar club of founders is diverse, India leads the chart with 66 Indian origin extrepreneurs, followed by Israel origin extrepreneurs with 54 unicorns on their name. Remarkably, the collective value of the 319 unicorns in the US with extrepreneur founders was estimated to be more than $1.2 trillion.
