The trailblazing businesses that are setting those trends. So, whether you’re seeking to start a new business or expand an existing one. Or perhaps you’d want to invest in one.
As result of cooperation with the marshmallow challenge blog, we found that these are the top trends to keep an eye on, ranging from healthcare to SaaS.
A new generation of biotech businesses has emerged
The biotech sector is currently worth $295 billion. And, if DNA analysis becomes more widespread and sophisticated, that number may rise in 2021.
Ancestry tests have been popular in the last decade, and they may tell you a lot about your relatives. However, our DNA may soon be used to guide our future behaviors. DNA Nudge, for example, offers a cheek swab DNA test, a smartphone app, and a wristband called a “DNABand.”
This integrated technology allows you to receive dietary advice that is personalized to your particular DNA. And DNA testing can tell you a lot more than what you should eat for breakfast.
Artificial intelligence may be used in new goods in this area to determine the best workout regimens. Alternatively, skincare products are tailored to your unique DNA fingerprint. And we won’t simply be adjusting to our DNA in the future. Our fundamental DNA will most likely change to match our present goals and lifestyle.
Africa is becoming a hotbed of digital innovation
Africa is seeing an influx of startups and venture capital funds. The continent’s untapped potential is too enormous for many entrepreneurs to ignore, even though it was formerly regarded as too hazardous. According to Partech, $2 billion in venture capital funding went to Africa last year.
Twiga Foods, located in Kenya, is developing a food distribution network and infrastructure and technologies such as a trade and inventory tracking smartphone app. Currently, this Goldman-backed business links 17,000 Kenyan farmers with 35,000 retailers. And the number is steadily rising.
Both farmers and sellers profit from Twiga’s two-sided marketplace. Twiga has decreased usual post-harvest losses from 30 per cent to 4 per cent as a result of this. This isn’t the first high-profile African business to get cash and attention. In South Africa, for example, AI-powered banking company Jumo is making headlines. Jumia, a pan-African e-commerce business, was even floated on the New York Stock Exchange last year.
Continued victories like these on the continent pave the way for more VC-backed startup companies to follow.
The mainstreaming of sustainable financing
The technique of investing with environmental and social rewards in mind is known as sustainable finance. This notion is getting more widespread (Bloomberg estimates that the industry is worth $30 billion). Along with the emergence of the startup movement, numerous related searches under this umbrella word are rising.
As investors’ definitions of Return On Investment (ROI) widen, companies will be required to demonstrate more than simply their revenue projections. Startup pitch decks will increasingly contain slides demonstrating their net-positive social and environmental impacts.
Beyond Meat’s, investor relations presentation slide stresses the fact that their burgers are “better for you and the world.” Beyond Meat, for example, has exploded in popularity thanks to its plant-based burger that looks, cooks, and tastes like beef.
Proven business concepts are expanding into new markets
The meal delivery app concept has already been proved by startups such as Uber Eats, GrubHub, and DoorDash. Similarly, ride-hailing applications Uber and Lyft shook up the old taxi sector in a big way. And now there’s a race to grab the various geographies in these areas, sponsored by venture money. Using the same tried-and-true business strategies, new players are establishing bases in different regions of the world.
Glovo is a particularly intriguing case. This Spanish business, which has garnered $500 million in the financing, appears to be similar to every other meal delivery service at first glance. They have operations throughout Europe, but they are also growing into South America and North Africa.
Glovo, the new industry standard, allows you to follow your delivery in real-time. Glovo is also unusual in that they deliver everything, including smartphone accessories, pet food, and flowers, in addition to meals.
Even macarons are on the menu. Despite this, food is still their primary application. Bubble and Zapier, for example, have made it easier than ever before for anybody to create digital products. According to Crunchbase, another no-code platform, Webflow, has secured $214.9 million in venture capital investment.
A no-code startup boom
These systems, in particular, enable you to develop “no-code” or “low-code” bespoke apps and websites. Web and mobile development utilizing a drag-and-drop interface rather than programming languages and raw code are referred to as “low-code.”
Low-code programming needs minimal, if any, coding experience. Even seasoned web developers frequently employ no-code methods to build apps quickly. Alternatively, you may use it to swiftly prototype company concepts. The no-code revolution has resulted in a slew of digital businesses.
Makerpad, for example, has quickly grown in popularity as a training platform and network for entrepreneurs who don’t know how to code. Makerpad shows you how to get an app up and running in minutes. Some of the most prominent digital businesses in the 2020s are likely to begin as no-code Minimum Viable Products (MVPs).
The sharing economy expands into new industries
Over the last ten years, both people and businesses have learned they can profit from assets that are sitting idle.
As a result, the Sharing Economy has become one of the most popular startup ideas in the previous decade. Airbnb, for example, allows homeowners to rent out their homes while they are abroad to supplement their income. This uprooted the traditional hotel industry, as Airbnbs can be a cheaper and more homely option for many travellers. As entrepreneurs seek to extend the sharing economy’s influence into other industries over the next decade, the notion will be fully realized.
A new startup named Cloud Kitchens, founded by former Uber CEO Travis Kalanick is now the trailblazer for the concept of shared kitchen spaces made for delivery-only restaurants. These flexible kitchens allow upstart food businesses in prime locations to capitalize on the new food delivery megatrend, but with significantly less investment.
As a result of this startup trend, restaurants without storefronts are springing up across many major cities.
Agile development gets streamlined
Agile development is a software development methodology that encourages adaptive and flexible planning. It has been widely adopted and has become common practice at many tech startups.
However, it’s not without flaws. HBR reports that a good chunk of agile developers feel that the approach breeds stress and tension. This is why startups are looking to streamline this process with techniques and tools that remove friction and help enforce good practice. This is where Scaled Agile Framework comes into play.
The model, adapted from traditional agile principles, is designed with enterprise-scale in mind. In practice, this means far more guidance on how to operate effectively in environments including more than one team.
Some startups aren’t big enough to worry about implementing scaled agile. But a streamlining process is still taking place. Agile coaches are project managers who can work with entire businesses or with individual teams.
In either case, their role is to improve agile practices wherever possible. Startups may choose to onboard an agile coach early on to have efficient, agile practices adequately embedded into the work culture.
In the future, we may also see more startups turn to agile automation. For example, PractiTest, a software test management portal, integrates various automation tools to align the testing process with agile practices best.
Convenience reigns in consumer markets
With Amazon setting the standard for delivery efficiency and customer service, consumers now expect the best. Convenience and speed are becoming more and more crucial for customers. Startups that ride this trend and prioritize the customer’s convenience will flourish.
A perfect example of this is Lensabl. This digital-first startup provides an online prescription lenses replacement service. And they bring in a reported $3 million in annual revenue, according to estimates by Owler. You take the eye test from home with their online eye exam. This is why it’s such a fun space to be involved in.