NEW TECH CRAZE

Are you thinking of visiting the ecosystem to see what’s in store? Or you may wish to take a stab at starting your own tech company.  If yes then you need to be on the tech bandwagon sooner rather than later because that’s the new in-thing as the world evolves into contactless mode. With many tech businesses on the horizon, starting your own may seem unnerving but with the good old cliché nothing ventured nothing gain it’s always worth a try!

Becoming a tech-preneur begins with a number of considerations from market demand to competition not forgetting the initial capital investment needed to start. To steer you in the right direction we’ve identified five of the most spicy industries to launch start-ups in 2020.

E-commerce is one the burgeoning industries around the world; in 2019 alone, global e-commerce sales soared to 3.53 trillion USD and this is predicted to double by 2022.  All it takes is a click or a tap and you can get anything delivered in days or even minutes; the increasing acclaim of internet shopping is awesome news for entrepreneurs fostering product ideas as it’s not just this sharp growth that makes e-commerce a top industry for start-ups.  A key advantage is that setting up  an e-commerce store requires relatively little initial investment.

Another tech trend that’s surging is financial technology commonly known as FinTech;  it took flight since the PSD2 which is an update to the EU’s Payment Services Directive that became effective in 2018; this new regulation aims to protect consumers during online transactions and also promotes innovation in the industry through practices such as open banking. In 2020, competition in the FinTech market would become amplified but guess what? If you have a unique idea to develop an app and/or service aimed at a specific  group of customers,  go right ahead!

What about Cybersecurity which is now deemed as a critical component within the digital space as the more time we spend online, the risk of exposure to data breaches and violations of our digital privacy widens.  Begin this tech journey by offering consultancy services to companies, running tests, updating  systems and just sharing knowledge on cybersecurity issues can be an excellent start.

We all love FOOD so why not FoodTech?  Ripe for innovation from supply chain management, food safety, delivery processes, order management or even cooking…lots of areas for disruption in this new dispensation; start your research and get on board.

Then there’s EdTech – education technology the ideal solution to the in-person/school challenges impeding the world right now; yet another lucrative industry with global investments banked at 16.3 million USD in 2018 alone!

Begin tex-ploring now!