Hey business disruptors! Are you ready to fire up your own startup in the tech industry? To build up a successful business that the money rolling in, all you need to have is a good concept and the boldness to act on it. Technological advancement has rewritten the rules of existing industries. Thanks to the evolution of technology, most of the traditional sectors hold tremendous potential for many entrepreneurs.
To begin exploring tech business ideas, read on as we’ve compiled a list of the best industries for starting this year onwards. Check out which sectors are home to tomorrow's fastest growing startup that you’ll be establishing soon.
Finance - Fintech
If you’ve ever paid for something with your phone or laptops, transferred money via an app, or checked your bank statement online, then you’re already part of a multi-billion dollar industry. It’s called fintech, financial technology. It’s changing economies around the world. Fintech includes a hug range of products, technologies, and business models that are changing the financial services industry. It refers to everything from cashless payments, to crowdfunding platforms, to robo-advisors, to virtual currencies. It’s not just startups that are getting into fintech. Some of the world’s biggest companies from Apple to Samsung are going big on it, too, like Apple Pay and Samsung Pay. So why should you be part of this? Consumers are adopting fintech, fast! One out of every three people across 20 major economies report using at least 2 fintech services in the last six months.
Healthcare - Digital Healthcare
Digital health is hot. Health-Tech is now trying to bridge the literal gap between end-users and medical practitioners by digital solutions, from alternatives for delivery to digital applications and applications. Not to mention, the emergence of distance health. Extending the healthcare ecosystem to the patient’s home has been a goal for decades. After years of trials, experiments, and modest growth, distance health technologies are about to become a widely accepted standard of care. Why now? Experts point to the preponderance of connectivity. Thanks to the mobile technology, personal technology is ushering in a new era of health care. Disruptors from many disciplines have been removing demographic, logistical, financial, regulatory, and technological barriers. Today, more than 90% of healthcare delivery systems have or are building a tele-health program.
Education - EduTech
As technology has transformed our daily routine, how we live, how we work, and how we purchase, it’s no surprise that technology also has disrupted the education landscape. It innovates the way we and the younger generations learn things. Institutions that don’t innovate or push the bounds of technology will be the ones that go away. Technology is taking us to a different place. If you don’t get on the train right now, you’re behind. Having technology on learning makes it a lot easier for students to focus on the thing that students need to. For one thing, artificial intelligence could revolutionize one-on-one tutoring and advising. Coupled with big data, it is absolutely something that’s going to be critical in the future of teaching and learning.
Human Resources - HR Tech
The digital revolution within HR is in full swing. The processes of human resources are evolving faster than ever. All facets of human resources are disrupted by new techniques and solutions. Looking at the changes in the way candidates apply for jobs, the way we set goals, capture feedback, and communicate, all these can be digitized and informed via new digital platforms. Most of the internet traffic today comes from mobile devices. Taking this advantages, enormous HR applications are running on mobile computers or phones. We can view this as a vast fast-growing trend and one that’s going to change the way HR organizations entirely. One of the most critical element in digital is design thinking. Understanding what people do during the day at work and creating journeys and user experiences through the digital platform while supporting the HR functions. The quality of data, information, and decisions that are made for HR and people practices will dramatically improve by adopting this new digital HR platforms. See this as an accelerating trend and take this opportunity!
Marketing - MarTech / Digital Marketing
A blending of marketing and technology, thus anyone who virtually involved with digital marketing is dealing with MarTech. It applies to major initiatives, efforts and tools that leverage technology in accomplishing marketing goals and objectives. Basically any tool being used that can assist to optimize or enable marketing efforts is identified as MarTech. But the real question is, why is this like a thing nowadays? Marketing technology has boomed in the last couple of years because people see it as a way to simplify and optimize both marketing and sales efforts. And so now, there are SaaS and MarTech platforms across the board for everything whether it’s like a data cleansing, reporting, advertisement delivery, lead generation, lead qualification, lead boosting and enrichment, it’s everywhere to help businesses out there! To be part of this sparking innovation of marketing world, you’re tasked to understand all those systems and most importantly how each of them can be interrelated to one another.
Media - Media Tech
The media tech revolution is well underway. Perhaps no other sector changes more rapidly than the media industry. Think of what those famous streaming services have been disrupting the way people watch movies and other sort of media. We listen to Spotify, we play Fortnite in wee hours, we watch Netflix, like there’s no tomorrow. People are no longer glued to TV at certain times, because with media tech, everyone can stream to what they want to watch, listen, or play anywhere at anytime. Yet, don’t limit it up to video or music streaming only, media itself is varied in its forms. Video gaming and virtual reality also encounter explosive development. Even dating services like Tinder are all mediatech companies at heart as they aggregate, organise and present photos, maps and data online. After all, anything that involves media that is executed technologically falls under the same bucket. But good thing in this new modern industry is that there are still a space to reinvent new business in a way to be another trendsetter of the sector.
Are you in the cusp of global #TechBusiness movement? You may start with this list to jump-start your startup success.