Everyone wants to work for a startup. You get to be part of an exciting and disruptive new company with enough financial power to make a difference. However, some industries are proving to be better for startups. This article will take a look at the most exciting startup industries in 2021.
What is a startup?
A startup is a company that has recently started. The term was first used in the 20th century but really took off during the dot-com boom of the late 90s and early 2000s. It is used to describe companies that are trying to grow quickly or attempting something new.
What makes an industry good for startups?
There are a number of factors that make an industry good for startups. The main ones are:
– High growth potential – A new product or service needs a market to grow in, and the bigger, the better.
– Competition – If there is no competition, then why would anyone buy from you? However, too much competition can prevent disruption and growth, so an industry with average levels of competition is best.
– Size of the market – A large market will allow you to gain more customers and make more money.
– Fundability – Are there any giant players in the industry that are the only people who could finance your startup? If there are, then it may be difficult to acquire capital.
– Maturity – If an industry is still in its infancy, then it’s likely to be more unstable than an industry that’s been around for a while.
With that in mind, here are the most exciting industries for startups:
EdTech
Education technology is one of the most exciting startup industries in 2021, and it looks like it will see a lot of growth over the next ten years. It’s seeing a large amount of funding and many startups entering this space. They are using technology to help people learn more effectively and become better-rounded individuals. This industry has already seen companies such as Udemy and Memrise become very successful.
Healthcare
The healthcare industry is one of the biggest in the world. However, it is difficult for new companies to enter this space because of legal barriers and the need to work closely with government bodies. Much like EdTech, many startups are attempting to use technology to improve healthcare, so there’s lots of potential here if you can provide a unique service. So, it might be time to get your EMHA online and join an exciting healthcare startup.
eCommerce
The eCommerce industry is worth billions and is only set to grow as more people take up online shopping. It’s also very easy for startups to become part of the scene because they can sell their goods through existing eCommerce sites such as Amazon or eBay. If you have a great idea for an innovative product or way to sell something, then the eCommerce space might be the best one for you to get into.
Aerospace technology
The aerospace industry is very exciting and has a lot of potential for startups. This industry is seeing increased investment from venture capitalists as companies such as SpaceX become more successful. Many startups are trying to develop new ways to create cheaper or better aerospace technology. This could be a great opportunity for ambitious entrepreneurs, so consider this as a potential industry to work in if you want to join the space race.
Streaming services
Streaming services are worth billions of dollars and are only set to grow over the next few years. The majority of streaming services are run by large companies, but they do make room for some startups. For example, Soundcloud was a startup before it was bought by the audio streaming service company Spotify. So, if you have a unique way to make a streaming service better, this industry could be the one for you.
Leisure and entertainment
Leisure and entertainment is another industry that is currently worth billions. If you have an innovative product or service, this could be an exciting space for you to work in. For example, the Alamo Drafthouse Cinema chain started as a startup before growing into one of the biggest players in its field. With so many companies already established, this industry may not be the easiest one to get into, but it could be worth the effort if you can provide something new.
Logistics
Logistics is one of the most exciting industries in 2021. This just goes to show that there are always opportunities for entrepreneurs to create new and innovative solutions. The logistics industry deals with getting products from A to B, so it just requires an interesting way of transporting goods. So, if you have a unique idea, this could be the industry to get into.
Food delivery
Food delivery is a multibillion-dollar industry, and it’s only expected to grow in the future. The food we eat can be delivered to us much like any other product, so if you have a great idea for this space, it could be one of the most exciting industries in 2021. With companies such as Deliveroo and UberEats already taking over the market, it might be difficult for startups to enter this space, but if you can provide a new and innovative solution, then it may just take off.
Virtual and augmented reality
Virtual reality and augmented reality are two very exciting and trending industries. Virtual reality is all about experiencing things from a first-person point of view, while augmented reality is more like an overlay of information on the real world.
Virtual reality has been around for a few years now, but recent innovations have made it incredibly exciting to use. If you want to be part of the first wave of virtual and augmented reality products, then this could be one of the most interesting industries to work in. Augmented reality is much newer than virtual reality, so it could be a growing industry if you can develop innovative products or services to use this technology effectively.
Artificial intelligence
Artificial intelligence is one of the most exciting industries in 2021. In recent years we have seen artificial intelligence advance quickly. As neural networks become more advanced and powerful, a lot of new products are being developed. It’s likely that many of these solutions will be powered by AI, so if you have the skills to create innovative solutions, this could be one of the most exciting industries to work in.
Cybersecurity
Cybersecurity is another industry that is expected to grow as we move forward. The cyber security industry focuses on protecting the digital and offline world from viruses and hackers, so it’s worth getting involved if you have a background in programming or cryptography. For example, Malwarebytes started as a startup before becoming one of the biggest players in cybersecurity. So, if your goal is to clean up the digital world, then it could be an exciting and valuable industry.
Cryptocurrency
Cryptocurrencies, such as Bitcoin, are a very new form of currency that has exploded in popularity in recent years. Many companies are getting involved with cryptocurrencies and blockchain technology to help deliver innovative solutions. If you think you can create something related to this space, then it will be one of the most exciting industries in 2021.
Digital marketing
Digital marketing is one of the most exciting industries in 2021. Digital marketing is a multibillion-dollar industry, so there are many opportunities to carve out your own slice of the pie. If you have experience with content marketing or social media, then this could be an exciting field to get into. With companies such as Instagram, Facebook, and Google all making big moves in this space, it could be a great opportunity to help them grow.
SaaS
Software as a service is an interesting market to get involved with. It’s growing rapidly, and businesses are spending billions of dollars on SaaS products. If you have the skills for this dynamic space, then it could be one of the most exciting industries in 2021. With so many companies out there looking for innovative ways to use SaaS products, it could be a lucrative area to get into.
Financial technology (FinTech)
Financial technology is becoming one of the most dynamic industries in 2021. If you are interested in how money is made and transferred, this could be a great area to get into. Financial technologies cover everything from cryptocurrencies to automated high-frequency trading systems, so it’s worth getting involved if you can create something innovative and exciting.
Corporate wellness
Corporate wellness is one of the most exciting industries in 2021. Although corporate wellness has been around for a while now, it’s still relatively new, so there are lots of opportunities to innovate and improve existing systems. If you have experience working with health and fitness, this could be an interesting space to help grow your career. If your goal is to create or integrate innovative wellness programs, then this could be an exciting career choice.
Construction technologies
Construction technologies are expected to become one of the most dynamic industries in 2021. With everything from 3D printing to robotics playing an important role in construction, there are lots of opportunities to create new and exciting systems. If you have experience with robotics or 3D printing, this could be an exciting industry.
