clues posterous

The MIT Technology Review published an article on how some e-commerce startups target emerging markets where we witness an explosive growth of non-browser enabled cell phones and a lack of connected PCs. Interestingly enough, the case mentioned, Slimtrader, is a Seattle based startup which had the wisdom to swim against the current hype around smartphones and instead develop a platform to offer internet shopping via text message. This is obviously a huge market, which up to now was only targeted by non-profits and aid agencies, but obviously has definite potential for a social-enterprise-like approach.
What struck me though is the simple fact that this kind of business potential is what startups from countries like Greece should have tapped into in the first place where the local market has some obvious similarities and also because Greeks know best how to operate within loose administrative structures.
Instead, local startups focus on how to target the overcrowded and congested "western" markets with questionable results. 

Sound business is above all a state of mind ... but you knew that already didn't you?