Video and highlight from Jan-17-2024 briefing by Shawn Flynn at Lean Culture where he shares insights and trends from CES 2024. He covers what it means for the future of the startup ecosystem.
Shawn Flynn on Six Surprises from CES 2024
In the video below, Shawn Flynn shares insights and trends from CES 2024. He covers what it means for the future of the startup ecosystem. Eureka Park features over 1400 startups from around the globe. South Korea, Germany, Singapore, Italy, Israel, Taiwan, Ukraine, and Scandinavian countries had a present. It is great exposure for these startups.
The US government had a significant presence at the event. Agencies like Homeland Security and the Department of Justice had representatives in a sizable section discussing SBIR grants and various resources available for startups through the US government. This level of engagement seemed more prominent than in the past.
He highlighted the following surprises at CES 2024.
- France had a substantial presence at the event. They occupied numerous rows and several aisles, showcasing many promising startups. Similarly, Italy’s presence was more prominent than on previous occasions.
- Overall, the energy level has risen compared to last year but has yet to reach the pre-pandemic levels. Regarding the atmosphere among these startups, the conversations were filled with excitement.
- Technology highlighted included the fitness industry, AR VR technology, environmental sustainability, clean tech, last mile, sensors, and many IoT devices. There was a new wave of monitoring sensors.
- Lack of Real Estate Tech. Given the challenges in the commercial real estate market, he expected more innovations to address cost reduction and longevity. In commercial real estate, there’s concern about empty buildings and cost-cutting. He had anticipated more solutions tailored to their current needs, and their absence was unexpected.
- Current AR/VR technology is more stable. In the past, there were glitches, but this time, it was impressively smooth and immersive. They also had haptic gloves with tactile feedback and a vibrating energy pack for added realism.
- Companies, particularly large ones, have shifted their approach to discussing data. The era where startups presented themselves as the “Airbnb for data,” focusing on data collection and offering solutions like, “Do you need this? You can rent it here,” is in the past. Nowadays, the prevailing message concerns data privacy, emphasizing that everything is confidential.
Shawn Flynn highly recommends everyone attend CES. It is a fantastic event, and you can attend without a ticket, as numerous off-site events complement the main venue. For instance, he met with a CEO who showcased a smart wearable watch designed for children, highlighting the diverse and exciting experiences available at the event. This CEO, like many, didn’t have a CES 2024 ticket but organized meetings outside the event due to the influx of people attending.
About Shawn Flynn
Shawn Flynn is the principal for Global Capital Markets, an M&A advisory firm for mid-market companies. He is the host of the Silicon Valley Podcast and a board member of the Silicon Valley Association for Corporate Growth. He graduated from UC San Diego wtih a BS in Mechanical Engineering.
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Image source: Consumer Technology Association