Innovation is happening on all fronts today, but some areas are attracting more entrepreneurs with disruptive ideas than others. Many reasons contribute to the choice of target industry for startup founders, but some sectors are more open to innovation than others – and thus more attractive to startups. Here are four industries that are most trending among startups in 2019.
Financial services – fintech
Fintech refers to the area of technological innovation in financial services. It’s a growing sector that attracts startups aiming to disrupt the traditional financial markets disrupted with new technologies. Startups based on blockchain technologies are among the most prominent players on the fintech scene, and financial institutions are teaming up with them to refresh their offer and enhance their operational efficiency. Other significant areas of innovation are advanced Business Intelligence solutions and smart payments. Fintech services are entering the mainstream now and becoming popular with consumers who value them for accessibility and efficiency. That’s what gives startups the edge in creating ventures in this industry.
Healthcare and biotech
Healthcare is another prominent area which has during the last few years witnessed massive investments in disruptive technologies. Entrepreneurs looking to innovate traditional and often inefficient healthcare solutions have a lot of material to work with. Startups stand to transform healthcare and biotech sectors with new technologies and solutions such as blockchain, smart contracts, and artificial intelligence (AI).
Internet of Things
Representing the intersection of hardware and everyday objects with wireless connectivity, IoT a very attractive field for startup founders looking to revolutionize our daily lives. Experts consider it as a sign of the next industrial revolution (the so-called Industry 4.0). The unique engineering legacy places European startups at the forefront of this area with solutions such as breakthrough chips, sensors, drones, and other connected objects. But for the technology revolution to happen, enterprises need to invest in advanced IoT device management systems.
Another sector attracting a lot of startup attention is logistics. Startups such as Flexport and Postmates are just two examples of the many companies changing delivery. From cross-border shipping to on-demand neighborhood delivery, innovative ventures are disrupting the industry step by step. Moreover, startups stand to streamline processes that are among the slowest moving in the industry, such as freight forwarding. There’s a lot more to see from logistics startups shortly.
Startup founders choose to launch their ventures in specific industries due to many reasons. Among them is potential for innovation, clearly exemplified in these 4 sectors on the brink of a tech revolution.