Despite Weak Economic Outlook, These Startups Are Bullish on 2023 Growth, Hiring

The dismal 2023 economic outlook is an opportunity for tech companies with solutions that will help customers combat those headwinds. Organizations can navigate next year’s anticipated weak economy by implementing AI and automation, and protecting themselves from cyber threats.

Such optimism was the prevailing view among attendees at last week’s Disruptive Innovators CIO Winter Forum in New York. While organizations will cut tech budgets in certain areas, overall IT spending next year will rise 5.1%, according to Gartner.

Jay Modh (pictured above), CEO of managed services provider Intuitive.Cloud, is among those that are bullish.

“Despite the macroeconomic situations that you are hearing about and people laying off thousands of workers, we’ve got the call for unlimited hiring,” Modh told attendees at the conference. “There are not enough people I can hire to deliver engagement and projects that we have, given the amount of customers are putting to us,” Modh said.

Besides Intuitive.Cloud, Modh is CEO of Intuitive Growth Ventures (IntuitiveVC), an investor in startups that it believes have disruptive technologies. IntuitiveVC focuses on companies developing advanced AI, cloud, cybersecurity and data integration capabilities.

Among those companies represented in the Intuitive portfolio is DevRev, the startup launched by Nutanix co-founder Dheeraj Pandey. Other IntuitiveVC portfolio companies presenting at the Disruptive Innovators conference were Arcion, ArmorCode, Endor Labs, Ermetic and Safe Security.

An overview of some the companies and their offerings appears in the slideshow above.