MindShare today is releasing (WPP-pressrelease) the first of a huge trend reporting exercice called CultureVulture. The quarterly Culture Vulture reports will take on a different theme with each edition. The first issue addresses General Y entrepreneurs around the globe and examines over 300 Gen Y startups across 38 markets, including New York, Buenos Aires, London and Shanghai. That theme was chosen to gain insight into how Gen Y ideas and innovation impact and possibly change communication behavior (MediaPost).
The report identified 14 unique global trends that Gen Y—the consumer group, in the 17 to 32 age group (The generation born between 1978 – 1995) has been pioneering to great success in small to medium sized businesses. These include tips from trendsetting tech start-ups, channelling the power of advocacy, and creating a genuine value proposition. At TheNation they’ve made a take-out of the report’s findings:
- Living in the digital age has also made available a wide array of channels for youth to develop their entrepreneurial ideas and take them to the global stage.
- Young entrepreneurs from Thailand place a premium on creativity in launching their new business concepts, while their counterparts from more traditional economies, such as Portugal, prefer to take the tried-and-tested route.
- Most young entrepreneurs in Malaysia prefer the slow-but-sure approach as they eventually turn their part-time interests into full-time endeavours, while more than half of young Argentinians prefer to launch their own companies rather than work for someone else.
- Young entrepreneurs in Argentina and Japan rank high in terms of creativity, while confidence embodies business ideas from the UK and Indonesia, she said.
- Almost 60 per cent of China’s Gen Y population are open to the idea of taking risks, while only 15 per cent of their counterparts in Japan are willing to do so.
- Hong Kong’s business landscape is experiencing a paradigm shift with the emergence of Gen Y social entrepreneurs, while South Korea’s counterparts have preferred to embark on tech start-ups, owing to the country’s well-developed infrastructure.
Singapore-based Mindshare strategy director Catherine Williams, responsible for the Culture Vulture series: “At the core of this first edition is the belief that businesses need a little bit of reverse mentoring from time to time. Big blue-chip companies can learn from the nimble and creative entrepreneurs of Gen Y.”
Culture Vulture is available on iTunes as an iPad app, which features over 300 case studies and 14 videos in an interactive magazine format with an easy-to-use text interface. More information and a lot of videomaterial about the study can be found on the vimeo-account of Mindshare.