ENTREPRENEUR Zulfiq Isaacs started his now 21 year old technology company at a time when as far as technology went, there were not as many businesses that were black-owned. Secondly, not many of these businesses had young founders. He was about 23 when he started Liquid Thought.
He said that they started the company at a time when they would not have been able to predict what would happen 10 days later with 9/11.
“So we started in the midst of serious global economic downturn with a host of geo-political challenges that then had a negative impact on South Africa, companies and the economic climate at the time. We had a really difficult start to our journey but like all entrepreneurs, we had to find a way. As part of the resilience and grit that small business and entrepreneurs show, you have to overcome adversity and we have done that for 21 years,” Isaacs said.
Liquid Thought is a digital innovation agency and venture builder that is celebrating 21 years of being a pioneering player in the flourishing tech and innovation industry, partnering with leading brands and game-changing entrepreneurs in digitally enabling them to realise their full business potential and be more competitive in the ever changing online economy.
It has two parts to the business which are LIQUID STUDIO, that drives Digital Transformation for Corporate clients; and LIQUID LABS, a digital innovation enabler for Venture Backed Start-Ups or as an outsourced innovation partner that co-creates new Ventures with Corporates.
Isaacs said right now, they found themselves attracting incredible talent across all skills-sets from engineering to design along with consulting and marketing.
“Our work begins at the intersection of innovation. We pioneer and essentially disrupt industries as we enable businesses. Liquid Thought is all about digital enablement, helping business to navigate the ever-changing online economy as a strategic partner. We help our Clients to navigate this journey of striving to better serve their Clients using technology and embracing the digital economy,” he said.
As far as the economic climate was concerned currently, he described it as quite challenging. He said that however, the grit, resilience and tenacity of entrepreneurs was what the country needed more of to navigate, still empower people, create jobs and still grow their businesses to make an impact in the economy.
Liquid Thought said that it has seen three economic cycles that came in three 7 year waves. It said that in each of them, they had seen challenging times. Moreover, it said that they had also seen that there was light beyond that. Isaacs said there was always a silver lining and it was up to entrepreneurs to find it and forge ahead. “You either fail forward and ultimately push through to succeed.”
Isaacs said that as entrepreneurs and young people, we have the talent and potential to use technology and innovation to drive the economy forward during these challenging economic times.
“In any economy, you will find that there are businesses that thrive in adverse times. The ones that do that are the ones that prioritise key things in business. One of those is being able to ensure that whatever product or service you offer they do a really good job with it. They look after their people and if they rationalise their costs and manage the challenging times to get through it to the other side. Businesses that invest in tomorrow, invest in innovation will find themselves not just surviving, but thriving and coming out on top on the back of the downturn,” he said.
Isaacs said that the businesses that they partnered with were technology and innovation driven companies. He said these were companies that ultimately drove the economy forward. He said they saw innovation not as a nice to have but an imperative in their business.
Right now, the business said that it was celebrating this journey of entrepreneurship. It said it celebrated the opportunity they had as South Africans to contribute to our society with technology as a tool to be able to re-frame the landscape and bring the country into the age of the 4IR and ultimately the digital economy and be really competitive on a global scale.
“Beyond that we are celebrating innovation because South Africa and Africa is finally coming of age. In the last five years we have produced more unicorns in Africa. With South Africa being able to be the seat of the continent when it comes to driving innovation from Cape Town specifically. We find ourselves celebrating that we are in the melting pot of innovation-the Silicon Valley of Africa. We are very fortunate and grateful to have this opportunity to drive innovation to the world from Africa,” Isaacs said.
Liquid Thought said that it holds a long termism outlook going forward. “It is taking a view of this country not having a brain drain but a brain catalyst. “It is about being able to inspire entrepreneurs and other young people putting the challenge out there for them to continue to build our economy and make it an incredibly great country that can still be a beacon of light and hope for the rest of Africa.”
Going forward, the company said it wanted to build a legacy. Isaacs said that they wanted to build themselves into a formidable household brand name that will stand the test of time. “For us, when you hear the name Liquid Thought, you should think of those tried and tested brands that have been around and grown into a significant contributor to the economy, its people and its innovation.”
Liquid Thought said that it will be putting its money where its mouth is with regards to innovation. It said that it will be launching something called a 1 in a million Innovation Challenge where they will be putting up a grand prize of a million rand as an investment into the future of innovation on an annual basis. It is being generated by what they call Liquid Thought Day which is September 1 going forward.
Isaacs said that this will be how the company invests in driving in innovation forward. He said they will be investing in future innovation in terms of new ideas and opportunities in the industry that they serve, co-investing and co-creating with their community of partners, clients and brands. “This will be an annual innovation challenge that will be launched next year. We are ultimately looking to scale it to the biggest privately-led innovation challenge in SA,” he said.
BUSINESS REPORT