A lot has been said and published about entrepreneurship and startups however with each passing year; these buzzwords continue to bring in new surprises for the business world!
Taking a closer look at the Indian business eco-system, the year 2019 promises to unfurl innovative business models as business leaders, conglomerates and the Government are coming together to embrace new thoughts. This motivation has inspired a lot of young minds to explore the entrepreneurial world and transform their ‘out-of-the-box’ ideas into flourishing business concepts. While established startup brands like Ola, Paytm, Flipkart, Practo, Make My Trip – to name a few have cemented their market space and are the trendsetters, new ventures continue to pop in at a constant pace. As the startup community continues to embrace technological and business innovations to improve the current economic vigor, this will surely be a year dedicated to startups and entrepreneurship.
Did You Know?
Analyzing and in-depth research’s done by independent platforms reveal that the average age of an Indian startup founder is 28 years out of which approx. nine percent are women founders! While 2018 was focused on consumerism and going the digital way, 2019 is the year of transformations of the urban-rural aspirations that pushes India to be the second largest online market after China. Experts also predict that by 2021, fifty-nine percent of the Indian population will have access to the Internet. Simplifying reforms, affordable smartphones, heightened awareness about education are few of the prominent factors leading the ‘new-age’ revolution.
4 Startup Sectors to watch out for in 2019
As business trends are volatile in nature, this post collects some of the trending startup ideas and sectors that would be the torchbearers for the Indian startup industry in 2019.
Marketing: The most significant change is how advertising and marketing strategists have re-aligned their objectives and are more specific towards their target audience. The days of generic campaigns are over and today’s strategies involve high-end personalized contents. The impact of social media has pushed entrepreneurs to explore new possibilities. Online customer reviews play a pivotal role when it comes to branding. Online forums are a great hit as it gives a platform for consumers to inquire and share their views about a product.
Workplace: For business and corporate establishments, innovative ideas regarding employee engagements and maximizing margins are changing the pattern of traditional office environments. Shared office spaces are the talk of the town along with the idea of remote work. Riding on the advancements of technology, investing in infrastructure is a thing of the past. Professionals hired by the tech-startups have a broader perspective as companies are taking a paradigm shift from SMET to STEM-specific job roles.
Education: The advent of gadgets has undoubtedly assisted countless students, teachers; educational institutions as the use of innovative technologies are touching the sky! Modern learning applications have paved a new way that makes learning more personalized, efficient and result-oriented. Educational startups are the flavor of the season as it can tap many unexplored avenues like digital libraries, VR content, learning analytics, soft skills, assessments, language tools and much more. EdTech ventures have the potential to answer and improve the literacy rate in the Indian sub-continent.
Technology: Yes, technology is the backbone but there’s a lot to discover yet! Data Analytics, IoT, Artificial Intelligence, Robotics, Blockchain, are some of the platforms that need to be explored by the tech entrepreneurs to the core. The Immersive reality, VR’s, lightning-fast connectivity enables today’s technology to cater to the diverse needs of the industry. Disruptions triggered by the technological advancements have given the scope to the budding entrepreneurs to transform technologies on jobs, works, and skills. The year ahead is the apt time to harness the infinite possibilities among various sectors and the startup industry is all set to take the next gigantic leap!
- Devasish Kanojiya, Editor