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The global economy has shifted remarkably. More and more businesses have taken
advantage from the massive technological progress and have decided to base their
entire business on the internet or simply focus on producing output accessible online.
These companies play a major role in today’s global economy because of their recent
growth and their wide distribution and international accessibility.
Whether we read the news on our smartphone on our way to work, check our e-mail
once we’ve gotten there or see what our friends are up to on social networks first thing
we get home, we cannot imagine our daily routine without consuming goods of which
the providers are web-based businesses. They greatly affect both our private lives and
our work.
The implications of web-based business on our lives are multidimensional and various.
Accordingly, the business models and strategies are diverse. The magnitude of their
impact is likely to be even higher than is publicly acknowledged, thus there is still a
potential as well as a necessity to raise awareness.
The constantly increasing impact of web-based business corresponds with a huge
potential of success and social well-being. Investors chase newly founded start-ups
with incredible eagerness and urgency and some western European governments
consider the web-based industry to possibly be „the next big thing“ that will finally
drag them out of the slumps of recession and financial crises. The industry’s potential
is undeniably large – however, it has yet to be determined how large exactly.
Despite the sense of optimism surrounding the industry’s growth, there remain
possible reasons for concern. The phenomenon now commonly reffered to as the „dotcom
bubble“ serves as a warning to exaggerated optimism and proves that web-based
business has failed to comply with the criteria of economic sustainability before. It is
now to be examined if today’s generation of web-based business is capable of serving
our society in a sustainable way – economically as well as ecologically and socially. In
this spirit, especially essential criteria as for investing in Start-ups acting in the webbased
business will be analysed during this-year’s conference.