5 Best Industries for Startup Ideas in a Time of Coronavirus
It looks like #coronavirus inspires people to develop creativity and suggest new concepts for humanity to survive. In time when the global economy collapses and world leader companies such as Amazon, Google and Facebook lose billions it’s a perfect phase for minor startups to spread their wings and get noticed by investors and potential clients worldwide.
The demand on rising startups is increasing as potential investors and found raisers look for new innovative B2C services and products to cure the infection.
All you need to do is to adapt to the situation and accept it. The world has changed already, and it won’t be the same since most big brands and companies will revise the fundamental business process and structure. It may sound funny but angel investors will revise where to invest their funds and which startups will provide more profit. As an independent entrepreneur you have an amazing opportunity to check the best possibility for your patent or services right now.
So which industries are best for a new startup to grow while #COVID-19 dominating the world? In the list provided below I give 5 examples of great industries you as a new entrepreneur or an expert should start to think of in order to successfully promote your idea. It also means that you need to think big not only about yourself but also about humankind. Just think how to benefit isolated people the easiest way or what kind of services and inventions do you need while you are isolated or infected?
BioTechnology and BioScience
Announcing the start of the#coronavirus pandemic is leading to investor enthusiasm for companies that are developing a virus vaccine. Humanity is turning to artificial intelligence to speed up their drug-discovery efforts and biotech startups such as a biotech company Gilead Sciences are on fire right now. The world is praying for a medical treatment against a potential apocalypse, and the resolution can be provided by a team of genius specialists. You don’t need to be a professional doctor, but you need certain information and management to hire a skilled team of scientists and give you best to research the virus.Startup investors are ready to put billions for any promising pharmaceutical startup which will provide a vaccine. Startups began testing new medical products which promise to fix health issues.
To counter this threat, the U.S. pharmaceutical industry is working closely with U.S. government agencies, the World Health Organization and governments around the world to identify their most persistent needs in the areas of immunization, diagnostics and other treatments.
Pandemic example: Think of a productive and innovative B2C service or a medical product which possibly can gain an enormous popularity worldwide. Remember that by developing a new vaccine or a health product you save the whole civilization of a catastrophe!
Fashion and Lifestyle
Fashion always adapts to any major worldwide crisis /event such as a word war or first flight to the moon. Yes, the main subject of discussion is a medical mask which already got creative usage in different variations and styles, and became a funny wide-reaching meme. No need to be a fashion designer or visit Fashion Weeks, it’s enough to use your creativity and imagination. Draw a few sketches, create a few mockups, get a logo designed to name the brand. Post it on social media and send it as an online pitch deck presentation. Now that so many angel investors are waiting for a new design and fashion trend to change the world, they will be happy to hear about your idea.
Fashion bloggers and nail artists from around the world publish varieties of nail art with prints in the style of Covid-19, drawing on the nails images of the virus.
At the Paris Fashion Week in February, models appeared on the catwalk wearing protective masks. Respirators on mannequins fully corresponded to the style of dresses, cloaks and hats, which they showed in the collections Autumn-Winter 2020.
Pandemic example: Think of innovative trends and useful manufactured materials, new cloths design such as a scarf made of material that reminds of a toilet paper or an addition function that you can bring to current fashion style.
One of the basic protective measures for fighting Coronavirus is not to touch any object or a surface and wash your hands every 20 minutes. Cash is not in trend any longer. Humanity was on its way to leave common banking, and now it’s certainly happening. Consequently it is a perfect start for any #fintech startup to shine and liftoff!
Banks are suffering sufficiently, stocks are falling. More and more people choose to send and receive payment using one simple click or a tap. No need to touch “dirty money”, no need to carry a heavy purse and forget coins in your pockets. New players asPayoneer, Revolut and TransferWise became strong competitors to our friend PayPal. Less fees, more simplicity, new innovation and fast support- that’s a perfect start.
Pandemic example: As an entrepreneur you can add a creative correction to a current online payment or develop a new startup idea which will not involve any physical contact. The humankind will be grateful, the investors will be happy to raise the funds and you will be proud of your discovery.Hire a designer, create a tech logo and an informative website onWixorWordPress platform which will explain in a few pages your main goal.
Insuretech and P2P insurance
Capital market solutions for pandemic risk continue to evolve. #InsureTech is a young technology industry focused on developing insurance IT solutions. It can be both consumer services and tools for the work. People are accustomed to insuring only expensive acquisitions: real estate, cars, art objects. However, modern technology allows you to protect documents, keys, small gadgets. This sphere is only developing, but in a few years such protection will become a habitual phenomenon. In terms of pandemic it’s a perfect solution to insure not only your life, but every small step of your day. Now that stocks a crashing commonwealth loses its significance it’s time to insure yourself. Therefore it gives a great basis for new concepts and original idea investments.
One of the best #Insuretech examples is the famous peer-to-peer insurance example is the Israeli-American Lemonade, founded by former SanDisk top manager Daniel Schreiber and co-founder Fiverr Shai Wininger. The service works on a subscription basis, insurance payments are formed from the contributions of the users themselves.
Pandemic example: A mobile app which connects you to most popular insurance companies worldwide in a few clicks.
Robo Advisors, Big Data and ML
Hysteria with #coronavirus has not yet been played out to the end. The best way to track the spread of a terrifying virus is collecting data from any possible source. Also AI and machine learning-based robot advisers take on routine tasks: advising clients on the most common issues, selecting solutions, and paperwork. According to the EIU research, about 60% of all organizations they surveyed already use data to generate profit. More than 80% uses data to improve their goods and services.
Artificial intelligence, machine learning and big data analysis are the most obvious ways to improve the pandemic situation. Big data helps scientists better understand the source of the virus and to find a solution to treat it based on the collected data. The demand on data startups is so high any investor will be glad to take a look at your PPT presentation without a doubt. Just make sure you have an impressive web portfolio and a marketing design provided during an online pitch deck.
Pandemic example: A mobile app that collects any flu symptoms and shows your chances to be infected. Or an interactive map that allows you to track#coronavirus infection growth or reduction by one simple click.
What about raising funds?
It’s another question many startups worry about. Everything is possible precisely these days when so many investors look for new opportunities and new ideas to explode the market.
Save your budget and time, and contact investors online. Spend your funds to a professional marketing design instead of spending it on expensive conferences and meetup tickets. Yes, the world uses the internet as wildly as never before since companies start to hire remote workers and the communication is held via online calls on Zoom and Skype.
Generate ground-breaking products services, and eventual find a cure for COVID-19 disease!
Our thoughts are based on an analysis of the company's business and the personal experience of our investors, but remember: it is not a fact that the investment idea will work as we expect. All we write is forecasts and hypotheses, not a call to action. Relying on our thoughts or not is up to you.
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