Waze co-founder on how tech entrepreneurs should be navigating this volatile environment

While an economic downturn could impact a start-up’s ability to raise capital, the co-founder of navigation app Waze said entrepreneurs should be ready to adapt as it could last up to three years.

In an interview with BNN Bloomberg on Monday, Uri Levine, author of "Fall in Love with the Problem, Not the Solution," said while it’s difficult to raise capital in a bearish market, this isn’t the first time entrepreneurs have been in a difficult environment, and it won’t be the last.

“There are a lot of [financial] crises that usually go from the prime market into the IPO [initial public offering] market, and therefore into venture capital funding and start-ups; and it takes about two or three years for each one of them,” Levine said.

“So what I would recommend companies to do these days, if there is hard time to raise capital, reach profitability first.”