The studio model has attracted significant attention in recent years and is emerging as an increasingly important player in the global startup ecosystem. A recent gathering of investors and studios in Dubai, hosted by Enhance and GSSN, supported by the Dubai Future Foundation and the Dubai International Financial Centre, brought together industry professionals from around the world to explore the future of the studio model and discuss the evolution of this innovative approach to creating and scaling startups.
In his opening remarks, Pat Riley, CEO of Morrow, highlighted the parallels between the stages of development in other industries and the evolution of the studio model. He divided the development of various industries, modern technology, the internet, and the overall global economy into three waves.
The first wave represents an industry in its infancy, while the second wave involves the growth and expansion of established aspects of that industry. The third wave, where initiatives such as accelerators, angel groups, and incubators have already reached, is marked by a growing appreciation for its complexity, as well as a desire to support more ethical and sustainable practices.
As we approach the third wave for the studio model, different factors, including capital availability and expansion of the model, become particularly important. With trillions of dollars in uncommitted funds (referred to as “dry powder”) available, capital should not necessarily be considered scarce within the studio model.
During this gathering in Dubai, investors and studio representatives were encouraged to engage in productive conversations to develop a shared understanding of the studio model and challenge one another to push the boundaries of what is possible in terms of building companies and creating value for society.
The future of the studio model hinges on its flexibility and adaptability to accommodate new ideas, continuous improvement of its processes, and the inclusion of more ethical and sustainable practices. Ultimately, the success of the studio model in its third wave will largely depend on the collaborative efforts of all participants in the industry.