It’s been a crazy year for businesses in many industries because of the coronavirus pandemic. But, not quite like the tech industry which experts say has seen both immense growth and hard times alike.
TechPoint CEO Mike Langellier is an expert on the tech industry in Indiana. He told Inside Indiana Business the main thing that has affected the tech industry in the Hoosier state is the need for companies to take their business dealing almost entirely virtual.
“Take the events industry, for example, that just got upended overnight,” he said. “And sports along with it. There are a variety of companies that have leaned into those problems.”
He said there are many tech businesses that have popped up in the last year that help these industries figure out how to take their products and services virtual in order to avoid going under in a time where everyone is likely having to do everything online in the name of social distancing.
“Companies like Filo, Socio, and Mandolin,” Langellier said. “These are all companies that launched (in 2020) helping companies in the events industry be able to do their events virtually.”
He said this boom in virtual events has also led to a boom in the need for cybersecurity. Companies like Infosys, which just set up shop in Indianapolis, have capitalized on that front as they have had to innovate new and better cybersecurity platforms.
“We’ve seen lots of growth potential, and disruption, in that space,” he continued. “Experts say we’ve seen five to ten years of digital transformation that has happened in the last few months.”
Though many tech companies have been able to profit and grow off the need to go virtual due to the pandemic, the economic woes felt across the board have also been felt in the tech industry as well.