The business, operating, and governance models of the Kreatorverse portfolio companies are designed based on proven scientific, technological, and economic principles.
This is an exclusive interview series conducted by Santosh Vaswani, Journalist & Editor at CIO News with Yuvaraj Thanikachalam, Founder & CEO, Kreatorverse.
Could you tell us more about Kreatorverse? What is the purpose of building such a business venture?
Kreatorverse is an award-winning Web3 Product Studio based out of Bengaluru. Our purpose is to co-build, co-create, and scale new internet technology ventures that deliver the highest socio-economic impact. We are devoted to establishing the Kreatorverse organization with a strong focus on serving the global community and harnessing the latest technological advancements to their fullest potential. We have developed competency, capabilities, and capacity in various technologies, including mobile telecommunications, cloud computing, data analytics, blockchain, artificial intelligence, augmented reality, and virtual reality.
Kreatorverse emphasizes its commitment to innovation beyond traditional design engineering, providing comprehensive support for businesses navigating the complexities of the Web3 ecosystem.
What did the COVID pandemic do to the internet economy?
The COVID-19 pandemic brought about significant changes in the digital and internet economies. The increased reliance on digital services for entertainment and work has led to a 20% surge in total internet usage. Additionally, the share of e-commerce in global retail trade increased from 14% in 2019 to about 17% in 2020.
What were the challenges faced by the companies during COVID-19, and how did they overcome them?
While IT companies experienced a surge in demand for IT and digitalization services, they struggled to upskill and reskill talent due to the work-from-home model. Fresh and early career talent lacked support for upskilling or reskilling, leading to a significant drop in overall productivity and efficiency. This decline in efficiency also resulted in higher costs for service delivery and servicing customers.
How did Kreatorverse overcome these challenges to stand out in the competition?
Kreatorverse adopted a hybrid work mode HR strategy, organizing its remote talent closer to client locations. We provided training on efficient delivery processes and equipped the team with development and engineering tools. This approach enabled us to maintain productivity and deliver exceptional service.
How has COVID-19 changed the course of the digital economy?
As of 2023, the global GDP stands at $105 trillion. The Internet economy contributes more than 4% to the global GDP, surpassing the contributions of both the energy and agriculture sectors. The combined market capitalization of the top 10 global internet companies is $5.96 trillion, highlighting the substantial role of the Internet in the digital economy and its significant impact on economic growth and societal transformation. Additionally, the combined market capitalization of the top 10 Indian tech companies (IT, Internet, and telecommunications) is approximately $398.9 billion.
Since 2021, the digital economy has been proliferating, driven by technological advancements, increased internet penetration, and the digital transformation of various industries. The trend is expected to continue as more sectors adopt digital solutions to enhance efficiency and meet consumer demands.
Describe the scenario before COVID-19 and how the pandemic altered it.
The industry landscape before and after COVID-19 underwent significant changes. Before the pandemic, digital transformation was a frequently discussed topic among the C-Suite executives but often lacked priority from the board. In the post-Covid era, businesses have shifted their focus to merely automating processes and using technology as an enabler to transform their operations into resilient, sustainable, and tech-first ventures. This new approach emphasizes building robust, adaptable business models that leverage technology as a central element of their strategy.
Who are the benefactors and beneficiaries in the Kreatorverse ecosystem?
Kreatorverse is a dynamic ecosystem of business-savvy, new-generation internet technology creators, entrepreneurs, investors, technologists, designers, engineers, marketers, sociologists, and economists. This collective intelligence is leveraged by contributors to drive their sustainable growth and success.
Could you elaborate on the use cases with reference to some of your clients?
Kreatorverse offered its managed fintech product engineering solutions to start-up companies such as M2P, Esketit, Kilde, Farm To Plate, TruScholar, etc., helping them accelerate their journey from idea to launch and achieve a faster product-market fit.
Kreatorverse served as a Web3 innovation R&D partner for various companies, including Bunpun, SafeBay, Fu Capital, etc., in making them successful next-generation global internet companies.
What level of growth potential does Kreatorverse provide to its stakeholders?
Entrepreneurs’ active involvement and meaningful contributions within the Kreatorverse ecosystem enhance network effects and create a significant multiplier effect, enabling faster growth and providing socio-economic benefits to the market and society. Our goal is to deliver 10x growth and returns to our stakeholders through passionate and dedicated efforts. We are committed to building bold and robust ventures that will serve people for a long time. The business, operating, and governance models of the Kreatorverse portfolio companies are designed based on proven scientific, technological, and economic principles.
What socio-economic impact metrics do the ventures built by Kreatorverse Studio aim to achieve?
The socio-economic impact metrics tracked by Kreatorverse ventures include sustainable growth in basic income for product users, financial inclusion, and increased access to global financial markets and systems.
Why do centralized authorities use false propaganda in public media to resist accelerated technological transformation?
Decentralized computing and data storage, digital currencies and assets, and artificial intelligence-based decision-making systems for governance and administration are highly transformative for socio-economic development. The convergence of these innovative technologies is set to shift the balance of power away from centralized groups controlling global resources. Consequently, 20th-century centralized systems resist change, often using false narratives about consumer and investor protection and, as well as stability, to avoid solving the real problems for achieving sustainable development goals for society.
What suggestions or recommendations do you have for CEOs and industry leaders to overcome challenges related to technology, finance, and human resources?
Throughout my 25-year career, I have contributed to the success of both startups and global multinational companies, transitioning from technical positions to high-end management consulting. My analytical approach to solving business problems has taught me the following key lessons:
1) Passionately performing your role and responsibilities and continuously pursuing professional excellence will help you stay relevant in a rapidly evolving world.
2) Maintain the highest standards of quality and professionalism in our business practices.
3) Never let your clients or customers down; provide them with the optimal solutions even if it occasionally impacts your profitability.
4) Technology is no longer an unfamiliar concept; it is integral to everyday life and is present everywhere and in everything. Embrace and utilize it to advance human society and achieve sustainable development goals.
Also read: Achieving Rapid Outcomes with AI-Driven Cloud Analytics
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