Grad Profiles highlight the personal and professional stories of Founder Institute Graduates from across the globe.
This profile on IndustryGraph, a Graduate of the New York Founder Institute, was written by Emma Tzeng. Emma blogs at http://emmatzeng.wordpress.com, and you can also follow her on Twitter at @emmatzeng.
If you’ve ever traveled to a foreign country, you probably remember how confusing the entire experience felt. Suddenly no one understands a single word you’re saying; and consequently, you are forced to resort to hand gestures and exaggerated facial expressions to get your message across.
Similarly, the world of technology is a sort of microcosm in and of itself. For those who don’t speak the languages of social media, software, or the Internet, terms such as “cloud computing” or “retweet” can sound like a completely alien dialect.
New York-based startup IndustryGraph aims to solve this issue by bridging the divide between businesses and technology by connecting technology providers with local consultants to reach and support SMBs.
Each year businesses spend an approximate $1.2 Trillion on information technology and services. Though three out of every five enterprise technology transactions originate through an intermediary, it is near impossible for small and fast growing technology companies to exploit this entrenched system. In other words, technology providers rely on third parties to help them translate their products into business "solutions".
Michael Mayer, IndustryGraph’s founder and a former M&A professional, conceived the idea after watching family members run their own small businesses. “Some people say the way to disrupt the market for business technology is through consumer-styled disintermediation, like app marketplaces and self-service labor markets,” he says. “But try getting my cousin who runs a bed and breakfast to take on all the tools and services required to build a first-class tech strategy on her own.”
Mayer gave an example. “Some SMBs want help finding the right project management tool and integrating it with their other applications. Others might want a project management tool, plus a trained person to help serve as project manager. They all ultimately want the same thing – to have their projects managed. But there’s no 'one size fits all'. Consumers are price-sensitive, but businesses will pay for a solution that meets their exact needs, without hassle.”
To solve this problem, IndustryGraph offers an affordable, simple platform for advanced technologies to be used in small- and mid-sized businesses through the services of an experienced local expert who fit great technology into customized solutions.
To date, the IndustryGraph works with 150 partner programs on its platform, connecting 1,600 consultants to 4,000 small business owners. And forecasts show massive potential for future growth: America’s current workforce includes about ten million independent service professionals and six million small- and medium-sized businesses. The total technology provider market experiences 10 percent growth on average and currently comprises 200,000 businesses.
IndustryGraph offers its services free to consultants and small businesses, and charges technology providers based on the number of consulting partners they manage on the platform. Consultants receive help marketing their services and access to leads, as well as client management tools. To aid in managing their partnerships, consultants also get a set of tools work with with great technology companies.
Providers, on the other hand, get easy access to experienced specialists who are ready and qualified to connect them to business owners who would benefit from their products. IndustryGraph works with providers to create their partnering strategies, help them get up and running on the platform, and coordinate ongoing training to consultants.
In its quest to create greater efficiency among technology providers, consultants, and small businesses, IndustryGraph is certainly making bold strides in the right direction. It’s delivering great technology solutions to businesses who may not have otherwise known about certain opportunities and products, and employing thousands of consultants in the process.
To learn more about IndustryGraph:
