Startups with innovative goods and services across several industries are rapidly expanding throughout the world. The most intriguing aspect of this shift is that technology is driving it. To give the increased interest in technology enough room to develop, many nations are building smart cities.
People can purchase items using their internet plans, make medical virtual visits on their phones, and earn university degrees remotely.
As technology develops, more and more business-friendly concepts appear. Even if it might seem like there are already too many players in the world’s startup scene, particularly in the finance sector, there are still other areas that aren’t getting enough attention. This indicates that you can still try your luck in the very competitive startup market, but one thing is for sure: A concept that not many brands have tried out is what you need.
For your convenience, we’ve collected a list of four cutting-edge tech concepts that your firm should leverage to gain market share. Although these concepts aren’t exactly new in general, we’ll give you some advice on how to use them to your advantage in a manner that others haven’t.
1. Drone Technology as a Service
Drones can be used for different things in the continent, while they are frequently utilized to capture aerial shots in films. Zipline, Rwanda’s official drone service provider, provides convincing evidence that drone technology can address pressing issues like delivering medical supplies to underdeveloped areas.
However, drone technology goes beyond the delivery of food and even prescription drugs. Your startup can create drones for a variety of customers with various demands. You could, for instance, market drones that can be used for security surveillance. This type of drone may record many images and videos of a property and immediately send them to a computer or smartphone. Making drones that can guarantee future purchasers improved safety may make sense because people’s concern for security is unlikely to diminish anytime soon.
Your startup can create drones that e-commerce companies in Africa may use to transport items. These drones are already well-known in the U.S. thanks to Amazon. Jumia and Zipline teamed up to offer drone delivery of packages to their clients in Africa last year. Other e-commerce businesses will want to join the trend if it gains traction. You’ll benefit from this.
2. Consumer Health Devices
The time when certain innovations were thought to be regionally exclusive is long gone. The healthcare industry has changed significantly since Covid. Nowadays, telemedicine makes it possible for patients to get access to primary care without having to make a physical visit. The recent influx of health-related gadgets, including blood pressure monitors and fitness trackers, is also noteworthy.
It’s simple to confine consumer health gadgets to the examples mentioned above, but there is a huge market full of goods that novice businesses can start developing. They consist of snore-silencer pillows that promote restful sleep, an eye-tracking sleep mask that may enable users to identify issues with their sleep patterns, urine scanners, and many others.
It’s important to remember that before medical device entrepreneurs may sell their products, the country’s food and drug regulator must approve them. Make sure to keep it in mind while you think about this.
3. Software as a Service Solutions
SaaS, or software as a service, is a developing invention that has completely changed fields like payroll and human resource management. The usage of a subscription-based business model and the fact that external, rather than internal, servers host the software are two of its standout characteristics. Slack, Zoom, and Netflix are a few well-known instances. Your startup should strongly explore developing SaaS technologies that address contemporary issues because SaaS technology is in demand.
It’s important to note that several verticals are already filled, so you should explore world’s less popular regions. Based on one or more of the following business concepts, you can create SaaS tools:
- Content planning
- Employee engagement
- Appointment management
- Virtual assistants
- CV Generator
The popularity of ChatGPT, a chatbot developed by Open AI, as well as other chatbots shows the potential of conversational AI technology. E-commerce companies, the healthcare industry, and other industries have all made extensive use of chatbots to enhance service delivery. Therefore, it’s OK to query why we chose to include this concept on the list. Here’s why we believe chatbots can still assist novice entrepreneurs in putting fresh company ideas into practice.
Think about the healthcare sector. You can create a chatbot that consumers can use to talk about their mental health. The bot can be designed to play relaxing sounds in addition to responding to mental health problems with cliche words of motivation. The user can utilize this to aid in sleep or meditation. A chatbot that prompts people to take their medication can also be created. Patients, especially those with chronic diseases, will benefit significantly from this.
Another option is to build a chatbot that, when connected to the power company, alerts consumers to upcoming maintenance windows and blackouts. The bot should also be taught to help with common questions like how to pay your bills, how to apply for or activate a meter, how to report fraud, etc.