The COVID-19 pandemic has impacted our lifestyle in the deepest ways and with economic growth going down there will be a shift that pushes entrepreneurs to innovate their traditional business and address the changing customer preferences. As we all adopt to this new situation there are multiple tech innovations that are now available for the young entrepreneurs to explore.
Here are a few start-ups that will flourish as the tech open up many opportunities:
- Health and wellness: The biggest lessons that people have learnt during the pandemic is the importance of being healthy and now the people will continue to stay vigilant regarding their health, immunity and other health related issues and hence many opportunities will be open for those who want to innovate around health and wellness. (for examples: Practo, Pharmeasy, Headspace etc). in the traditional set up too where everyone is opting for online screening, AI will have a huge scope and to manage the data securely, considering the reports and also payment will done online, Blockchain technology in healthcare has a great potential. There is a growing need to manage health data through secure systems to make health systems in hospitals and care centers more efficient and confidential.
- Education: As the kids/ students begin to learn in an unconventional environment there is a surge in online courses, online tutoring and apps which aims to support smooth experience for the teachers and the students. This new customer behavior creates opportunities for entrepreneurs to innovate and develop easy platforms for both the growing market. (for examples: Unacademy, Bjyus, Cousera, Google Classroom). In the era of online education, technology like AI and Blockchain will play a major role in record-keeping of user’s learning, their preferences , also keeping a safe record of their personal data like their background, payments modes, their grades while also create a simplified learning system.
- Financial Services: The post COVID the focus will be on to recover all the economic loss which has been done during this period and the various financial start-up will have a big role to play in it. Regulated finance distribution and lending will be needed as many people will be struggling to find investors and funds will be a huge problem. (for examples: Mint, Stockplus etc). In financial systems Blockchain has already created a lot of impact in the payment gateways and it will continue to grow to make financial services more secure.
- Remote-working tools: We have seen that even after government permission to open up offices many companies prefer WFH model and this, work from home is expected to remain as part of our work routines in the future as well because big companies including Twitter have said that they will allow their employees to work from home and hence it open doors for many new software development to track work on daily basis, create online engagement platforms which will make the work from home easy for all. The focus should be on increasing productivity and accentuating a stable work culture. (for examples: Zoom app, Google Meet, One Note, Miro). The Blockchain will help in making the recruitment processes simple and efficient. It will also help in maintaining records for employees that can be used by any new recruiter.
- Delivery based services and e-commerce: The COVID has compelled everyone to rely on supplies of various essentials via delivery through online platforms and as even after COVID social distancing will be practiced. Many traditional businesses will be compelled to shift from offline retail model to online store to survive. We have already seen many mobile applications flourishing in the market but with our huge population and consumption there is plenty of room for developers and entrepreneurs. (for examples: Grofers, Pharmeasy, Dunzo etc.) In this sector too Ai and Blockchain will help ensure secure data systems for transportation and logistics management and will make an authentication and tracking process easier than ever.
- OTT Platforms and Gaming: Gaming culture has boomed during the pandemic and so is the interest of consumers appetite for consuming more content and hence these two sectors will definitely bloom. Many people have started to earn through online streaming and new games, streaming platforms and online content will always keep people entertained and hence it will support many artists too. (For examples: Rooter App, Netflix, Prime Video, Paytm First) Many card games were pioneers in using AI and Blockchain technology and since then many more gaming platforms are adopting AI technology to innovate in multiple player games and real time streaming games to provide a better experience to all the users.
In conclusion, although the current economy growth is shrinking, there is new space opening for innovation. There is lot of opportunities for anyone who is ready to invest in tech and grow along with it. As our customers are going online, the businesses has to move online. Latest technology is AI and Blockchain and Blockchain Community India is an open platform that aims to make these technology more accessible to traditional businesses. To experience these technologies in your traditional business, become a part of growing Blockchain Community.