Startups, no matter how small, play a significant role in global economic growth. Also, let’s just not limit them to economic growth, while most of the startups aim to make an impact rather than making a profit. Along with creating more jobs, they also focus on introducing disruptive technology and offering solutions.
The Startup ecosystem in 2017 was focused on Fintech followed by healthcare, AI and gaming further. We have come a long way from 2017, let’s take a look at what the startup system has to offer in 2020.
Clean Technology:
The climate crisis today is screaming for a sustainable approach in every aspect. Clean-tech is any product, process or service that through its sustainable approach, lessens negative environmental impact.
Founded in 2016, NorthVolt is a Clean Tech start-up; building Europe’s biggest lithium-ion battery plant in Sweden. The initial idea is that the plant will provide 16 GWh of cell manufacturing capacity, and once completely operational, it will produce 32 GWh worth of capacity annually.
Cleantech has a major part in smart transportation ensuring minimum environmental damage and working with sustainable energy. This sector not only limits itself to solar, wind, biomass, and hydro energy, it is a great amalgamation of technology and sustainable approach.
Artificial Intelligence and Machine Learning:
Artificial Intelligence and Machine Learning has its roots in every startup now. Right from Fintech to transportation and manufacturing AI and ML doesn’t leave to amuse us with innovations.
Launched in 2017, Mavenoid is one such example; It serves as the primary point of contact for customers followed by a structured set of questions that narrow down the issue with their product. Resulting in 73% lesser time in resolution, 20% higher customer satisfaction and 44% lower cost per customer.
From empowering you to make better decisions to helping you cut down monotonous tasks and being cost-effective, these technologies, yet, have much more to offer.
Healthcare and fitness:
The world today is obsessed with health. Today, we all want to keep track of everything going on in our body and the products such as smartwatches, wristbands and other wearable have made it easy to keep track of your every move as well as sleep.
Ada app, founded in 2016, acts as a health companion, using AI to help users understand their symptoms and connect them to a doctor. Ada’s core system is a mix of medical knowledge with intelligent technology.
While tracking your movement is just the tip of the ice-berg in this industry, from health check-up apps that let you track your heartbeats, sugar level and oxygen rate to predicting health problems and helping it prevent beforehand, for this industry sky is the limit.
Reality Technology:
Augmented reality, Virtual Reality, Mixed reality as well as extended reality technology will continue to empower and blur the differences between digital and real worlds.
Contemporary practices will continue to disrupt with various approaches. Here is an interesting approach to a retail operation.
3DLOOK uses computer vision, machine learning and statistical modelling to process and measure the human body from two photos from any mobile device to create a real-life avatar.
We can look forward to more technology in 2020 in various verticals. A large number of companies will invest in developing immersive spaces using 3D environment and experiences.
Cybersecurity:
No matter what industry you deal with, you simply cannot ignore the importance of cybersecurity. With the constant development of IoT in every industry, increases the risk of information security. There has been a constant increase in the investment of cybersecurity to safeguard sensitive data.
BotRX’s is developed to protect against automated attacks against IoT devices, mobile apps or websites. The company fortifies defences against clever, invisible, and dynamic bots with intelligence-driven technology. It aims to find abnormal behavior and prevent automated bots attempting to log in, perform form jacking attacks or crawl for website vulnerabilities.
With the fast-paced growth of the Internet of Things, it is only a matter of time for a breach to occur before cybersecurity will be an even more escalated issue.
While start-ups matter and the growth they have to offer matters, even more, did you know that 9 out of every 10 startups fail? While there are a ton of reasons for failures mentioned by the founders, not being adaptable enough or not getting any mentorship and help was the most common mistake most of them indulged in.
In such cases, partnering with an experienced technology partner can empower your startup. Gateway Digital believes that every startup has something amazing to offer. Gateway digital is a digital transformation partner, fuelling innovative startups with a range of new-age technology services and solutions.
Along with empowering startups, Gateway Digital offers enterprise digital transformation. We map growth through innovation, technology transformation, consulting and strategizing. Right from Augmented Reality Applications, Machine Learning Platform Development, Blockchain Services and Solutions to Cybersecurity, DevOps and IT Transformation, Quality Assurance and more, we craft it all under this one umbrella.
Do you have a great startup vision? Share your vision with our team and we will empower it with the right strategy, tools, and technologies, to make it a success.
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