After completing a summer internship in 2019 at Tech Economy, Mingkun decided to continue working as a part-time analyst at Tech Economy whilst completing his BSc in Philosophy, Politics and Economics. In this short blog Mingkun shares his thoughts on working in the tech consulting and private equity field and some insights into the firm.
What does Tech Economy do?
Tech Economy is a consulting firm specialising in assessing technology companies and technology enabled businesses in Europe and North America on behalf of global leading private equity firms considering investing in these companies. These transactions generate the need for detailed assessments of the target companies’ technology platform and strategies, to determine whether they will support the investment thesis. That’s where Tech Economy steps in.
Why have you chosen a role in such a niche field?
I have always been passionate about the technology sector, and have tried to constantly keep up to speed with the latest development in the tech-scene throughout my undergraduate studies. In my first year, I spent part of my summer helping with my friend’s tech start-up. The fast-changing nature of the industry really struck a chord with me and ignited a spark for my professional interest in the field.
Subsequently, I had some experience working in consulting firms and private equity firms. Whilst I also enjoyed gaining experience in these fields, wherever I went and any business I researched felt the impact of technology. Thus, I really wanted to look for an opportunity that would allow me to explore technologies in company-specific contexts, and also keep in touch with skills I gained through consulting and private equity jobs. Luckily, the search culminated in a summer internship with Tech Economy, a firm operating at the very niche nexus of technology, private equity, and consulting.
What does your role entail?
My work can be dissected into two parts. On the front-end, I work on projects that typically involve assessing a target company’s technology platform and strategy for our private equity clients. The highly collaborative working environment at Tech Economy means that even a fresh intern (like me) can expect real responsibilities from day one. Typically, I would participate in client and expert meetings to take notes, review sell-side documents, work on report decks and conduct analyses.
As Tech Economy is still a fast-growing firm, I would also sometimes work on ‘back-end’ projects, such as managing our various databases, polishing up our materials and templates, and even getting involved in exciting business development projects.
What kind of skills have you learned/developed during your time there?
I think the foremost important skill I had developed is applying new knowledge at a really fast pace. For each project, which usually lasts 2-3 weeks, I will need to quickly learn about a new technology, a new business and/or a fresh use-case of a familiar technology. Crucially, I will need to understand the business/technology well enough to make assessments on the company. This steep learning curve can be intellectually challenging, but could also turn out to be extremely rewarding if you get through it.
I have also picked up some cool ‘hard-skills’ in data analysis. During my summer internship, I learnt about conducting analysis on the target companies’ defect databases and how to generate insights from them. Coming from a more ‘qualitative’ academic background, I actually quite enjoyed playing with statistics and analysing trends, especially when I saw how much the clients were impressed by what I had produced.
How would you describe your colleagues and the overall experience at Tech Economy?
I really enjoyed working at the firm and with the people there. My colleagues are highly accomplished individuals who are very supportive, both on and off projects. Most importantly, the flat structure at the firm means that I get to work closely with the management, and I feel they genuinely care about my development.
If I were to summarise, a role at Tech Economy is by no means ‘a typical consulting job’. The opportunity to work at the niche nexus of private equity, technology and consulting is highly unique. The excitement of learning about new technologies and how companies are using them never ceases.
At Tech Economy, no two days are ever the same.