By Fernando Berrocal

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Numerous variables have altered the startup environment during the past few years. The pandemic disrupted the startup sector in every way conceivable, but it has also inspired new entrepreneurs to think more strategically than ever. The variables here are highly diverse, ranging from automating repetitive tasks to meeting constantly shifting customer demands. Startups primarily rely on flexibility and innovation to carry such concepts forth. 

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The results of that work are now evident as we see ground-breaking entrepreneurial concepts altering the startup landscape more frequently than ever. In this blog article, we present some business concepts that–long into the foreseeable future–will have a significant influence on the startup scene.

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Reviews, Suggestions, and Advice

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Even though delivering informative content may be a useful component of any branding approach, some business owners have built their whole business operation around it. It starts with building comparative review websites and progresses to providing comprehensive recommendations and customer comments. For this reason, many industry professionals agree that sharing informative content information is becoming a standalone and interesting industry. As consumers increasingly rely on varied testimonies, advice, and product and/or reviews from around the world to make an informed decision, this particular industrial area appears to be highly promising.

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Improved Choices for Youngsters and Adolescents to the Bank

FinTech startups are a combination of the terms “financial” and “technology”.  This is the incorporation of modern technological breakthroughs into financial industry products and services. Concentrations in blockchain technology and trading apps are driving this extraordinary rate of growth in the last years. However, the lack of youngster and adolescent banking options was something that individuals could not have reasonably anticipated.

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Families are now seeking a variety of financial instruments for their children and teenagers, as opposed to the traditional "piggy banks" or kids' savings accounts that were once sufficient. FinTech businesses expand their family offerings to meet demand, offering traditional debit cards for youngsters and teenagers or giving stocks as Christmas presents. Fintech entrepreneurs are also providing minors with the following inventive features:

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• A "virtual bank" for youngsters.
• Financial education programs for children and teenagers.
• Directly handled weekly or monthly allowance in kid-friendly financial applications.
• Different prizes and virtual badges for reaching financial objectives.
• Options for sending money to their friends, family members, and other students.

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A Business Expansion in the Delivery Sector

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In the upcoming years, improved delivery services like on-demand delivery and online shopping delivery will continue to make their impact on the startup scene. For example, burgers were mainly ordered on weekends; however, in today's pandemic-affected society, customers are now more likely than ever to choose delivery. Additionally, there are benefits to using QR code technology and mobile applications that are linked to any bank account for payment. Given all of that, it makes sense that the market for food delivery services is expected to reach $154.34 billion by the year 2023. There are also more delivery startups making headlines which include:

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• Route planners and business-to-Business (B2B) last-mile delivery services: These startups provide features like "electronic proof of delivery" and "improved route planning" for delivery services. This type of service addresses time-consuming last-mile deliveries.

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• Services for meal planning and grocery buying: These startups are revolutionizing how customers organize their mealtimes. It provides online grocery shopping, food delivery, and management tools for weekly meal plans.

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• Automated shipping and inventory checking: These startups streamline the restaurant sector primarily by providing food delivery management software. For the best outcomes, this kind of software automates supply orders and inventory management.

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• Planning for events and travel takes on new forms: The pandemic's cancellation of weddings, celebrations, and vacations gave rise to new techniques for organizing special occasions and travel around the world. Startups provide innovative solutions for organizing live and virtual events from anywhere. It can automate RSVPs, event planning, managing virtual guest lists, etc. There are also a few more event-starting characteristics to watch out for and these include:

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• Internal virtual meetings for virtual teams and organizations.
• Tours in virtual reality and travel.
• Solutions for event management, ticketing, and virtual event marketing.
• Full online trip planning and management services.

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Innovative Edtech Approaches

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The term "educational technology" (better known as “Edtech”) describes recent technological innovations used in the classroom. New Edtech startups will keep emerging on the market as a result of its characteristics, which continue to influence both the corporate and educational realms. By 2025, it is anticipated that investments in augmented and virtual reality would total $12.6 billion. Learning management systems, virtual whiteboards, in-app communication, and other developing features are all included in the edtech features. Edtech businesses will continue to provide hybrid work solutions for all educational needs as both the business and education sectors continue to transform into hybrid work environments.

With its new $50 million in Series B fundraising, the startup StuDocu is no exception and will use it to hasten its international expansion. By bridging the gap between students and study resources, the so called Open Education Resources (OERs) like StuDocu work to break down information silos. Students may exchange course materials, syllabi, and resources for studying for exams using StuDocu. Other ground-breaking edtech business concepts that are altering the startup scene nowadays include:

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• Online degrees and courses, and platforms like Udemy are examples of e-learning solutions.
• Chatbot solutions to assist in lead generation for online courses and provide student support.
• Alternatives for learning through video (educational and lecture videos).
• Artificial intelligence for content and essay writing, commercial marketing solutions, and simplified student exams.

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In conclusion, the epidemic has rattled the world from every angle, but it has also inspired new firms to think more strategically. The startup market will continue to see big waves thanks to the five business concepts we discussed today. While a lot of startups failed in during the pandemic, there is still optimism that they may succeed in the future.

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Ready to bring your startup to the next level? Apply to MassLight’s next batch. MassLight supplies capital and a dedicated tech team. We take equity in return. Have questions? Refer to our FAQ page.