A startup is one field that has a lot of misconception around it. These are misconceptions that are yet to be cleared even after it became a phenomenon almost three decades back. A lot of the misconception surrounding startups originates from “Where do I get money for a business?” Now here is where people go wrong. A business is significantly different from a startup. Business is a venture where you seek to excel. It happens in a pre-existing format and you are just another competition in that probably overcrowded market. A startup is all about addressing to resolve an issue that no one has addressed yet. Or perhaps you have tried but failed due to lack of proper efforts. Believe me, when I say this – gathering funds for a startup is far easier than gathering funds for a business venture.
Startups have become a rage in the twenty-first century because of two reasons.
- This reason is very similar to those who set up their businesses, i.e. to be their bosses. Who doesn’t like working independently without being shouted upon and not having to be afraid of when they get sacked?
- This is a more philosophical stance from most startup founders. While it may seem odd for our mundane lives to comprehend, the thrill to do something unique that almost no one or very few have tried and succeeded in is another temptation altogether. Something that very few people relate with.
Do you feel like you are the only one who realizes that there are tons of opportunities in a particular field that almost no one else is being able to see? Though it is right in front of their eyes, you are the only one who can grab it. Then, you my friend, are one of these seemingly uber-enthusiasts who have changed the world and how we used to see it.
The reason why the world needs startups even more now than ever is altogether different from the reason why you should do it.
If I were to borrow from the famous Harvey Specter, I would say or rather implore you to imagine this:
An economy which is fed mostly by indigenous industries that are aiming at improving the livelihood standards by providing intelligent and groundbreaking solutions to them. All this by making more job opportunities than any government indoctrinated under any political belief can make.
However, I am going to save you the moral lecture (the one that I gave you anyway) and tell you that you will not only be your boss. But you will earn a lot more than you make from your nine to five job. Given the fact that you probably work for a private institution, chances are high that you will be plodded over. And by the time you are forty, you will probably soon be tossed over for obvious reasons.
So while you are still debating over this, let me in the meanwhile give you some illustrations. Illustrations of how good your country folk is doing. Only because they chose to move ahead in their life rather than remain stagnant.
5 industries that are booming mines for a startup
The regular techie prides itself on the fact that almost no startup can survive without technology. Hence, he is indispensable. While the former half of the statement is true in most scenarios, the second half is not. The average techie is dispensable once he has doctored a software that serves to fulfil its purposes without human intervention.
If you still believe that the AI apocalypse is a thing of fiction, you could just read for twenty minutes what modern AI is capable of. An apocalypse is a far option from ever becoming a reality. However, the fact that AI or ‘smart software’ will be the saviour of the modern and unpredictable world is true. Very much true to its core. However, we shall not focus this entire segment on artificial intelligence. I, in all my capacity, will bring to you startups from industries that we all use as regular human beings no matter to which strata of the construct we belong to.
Transportation is one of my favourite spaces for startups and I will tell you why. IT SUCKS THE LIFE OUT OF ME. I will do anything to find cheap yet reliable alternatives for my regular journeys. Why? It’s simple. I am tired of the same two people bickering on the bus as to who should have won the match. Or whether some dude from 1300 was right to do what he did in the 1300s. And whether Australia deserves to have progressed the way it has although it was meant as an island for inmates. You feel me right?
The daily banter and the same old whiny faces who bore the life out of you. It is not even a life anymore. It is the same tape that lasts 24 hours put on endless rewind. This is precisely why some men sent from the heavens above took note of our pains. Then, they came up with solutions to make our lives a little less miserable. After all, that is what a startup is for right?
Which UK startup you should follow:
For all the London folks, Citymapper has been the startup that they can rely on. With whopping total funding of about 160 million dollars, or 128 million euros (whichever way you wish to have the valuation represented guys), this startup has been around the scene for eight years now.
They have quickly built a customer base thanks to their services available in all modes of transport. The entrancing part is that they do so with a touch of humour. I know you like me when I call you Senorita. And these tired people like it when someone lightens up the mood for them.
Sometimes a cab simply does not cut it. You need the discretion and luxury to bring out the royalty in you. What? No offence meant! Anyway, if you want the power and the authority to just radiate out of you like your car rolls onto the tarmac, then Wheely has you covered. A startup with total funding of 48 million euros, (which is USD 60 million), this startup is an app for private hires. For everything luxury, you need in cars. Talk about power!
Sometimes it is not all about buying a rugged hunk on four wheels or hitching a cab. There are days when the car in your garage groans. You, in turn, groan with agony because you have no idea what to do with that dead beast. This startup that dubbed themselves Motorway collected 44 million Euros in fundings. They next came up with an answer to your problem. Sell it. Motorway lets you toss that scrap metal sitting in your garage hassle-free and for a good price too. The database allows you to compare offers listed for your car and you know the best part? The payout is in cash. Sellers can get their car sold in just 24 hours.
A relatively futuristic startup back when it started, On the dot, is valued to have a total funding of 32 million euros. It is a company that provides delivery services. While apparently ordinary, this startup engages machine learning for customized and automated delivery allocation services. AI apocalypse please don’t kill me!
We all have a penchant for second-hand cars. That is so because our meagre earnings do not allow us to whisk away a brand new one from the storeroom. With total funding of 100 million euros (or probably a bit more) Cazoo helps deliver your dream used car right up to your doorstep. Everything is online so you can stay COVID-free!
The mother of startups and quite rightly so, technology is what sustains all other startups. Hence it is not surprising at all to see the country have so many startups focused on technology in particular. Technology is one of the safest niches to build your startup around.
A very dynamic field, technology startups have lesser chances of short-circuiting. Top it with the fact that they can almost always evolve or adapt. Here is a list of technology startups that have been taking the world by storm.
If there is one singular industry that has made every country lose their sleep overnight, it is cryptocurrency. Cryptocurrencies have opened a new way of payment and are untraceable even to the smartest hackers out there. This makes them immune to cyber-attacks and potential risks if they are left to run unregulated. However, minus the governmental point of view, Blockchain is a startup that has spread to 140 countries since the crypto-boom. With funding estimated at around 70 million USD, from the likes of Google, this startup remains the safest form of payment solutions for cryptocurrency users.
This startup has been valued at $2 billion. It is the largest pharma investment with total funding of 208 million euros. The startup provides its services in developing medicines for chronic illnesses. The startup is so far the only entity with a technology that allows it to build clinical development solutions from the early stages of discovery.
Synk is a startup that aims at security solutions. Although it is a field that is rife with competition, Synk continues to grow with a funding of 354 million euros. It also has a net worth valuation of $2.6 billion.
OakNorth received its regulatory approvals back in 2015. Since then it has been breezing away as one of the most dependable financial institutions. The startup is focused on providing loans and financial assistance to small and mid-sized businesses for business and property matters. OakNorth is presently estimated to have a total funding of $1000 million.
Revolut is the startup that made a buzz around the financial circles for being selected by LinkedIn for top startups to work at. It is a startup that aims to make travel easy and no it does not provide ferry services, Karen. Revolut allows you to pay in different currencies from their transferred funds with no additional surcharges being deducted. This London based fintech now even offers cryptocurrency solutions and has a customer base of over twelve million. The total funding of this transportation startup is estimated to be around $836 million.
This startup is a cybersecurity company that aims to prevent all forms of cyberattacks. The amazing part of this startup is that they have devised a real-time program. It detects the cyberattack and then makes the system immune to similar attacks. Sounds a lot like human immunity, right? This company has a total funding of $230.5 Million.
This pandemic has successfully bound us to our couches, making us utterly helpless when it comes to the need to amass groceries for the week. The startups, on the other hand, were ready to use their arsenal to help us out with everything. This idea evolved and grew so that we did not have to step out and endanger our lives. Neither the lives of our near and dear ones. Here is a list of startups that helped us all to not go hungry.
This online platform is a marketplace that will satisfy your need for products right out of a farm. With all the daily essentials listed out, from vegetables and fruits to dairy products and meats, this is a one-stop destination for your midday and midnight cravings. The startup further connects the customers with the local farmers which, if nothing else is extremely endearing. The app just distributes the list to the farmers who cultivate the relevant items. Next, they deliver the items to the customers’ doorsteps. The total funding of this startup is USD 28 million.
Food shortage is an acute crisis that has riddled the teeming life on earth since its very inception. It was thus evident that sooner or later someone would step up to take action against the same. Here comes OLIO, a startup with total funding of USD 8 million that focuses on connecting people who have food to spare. With people who are in need of some food. The users of the app can advertise the food that is surplus and attach a price to it. This way, the willing customers can pay for it and have some sumptuous home-made meals.
No good party is complete without a chilled beer trickling down your throat. This startup thus comes to your salvation. They brew their beers and ales under the branding of ‘Honest’. They have a wide circulation and are completely online. This startup is estimated to have a total funding of USD 3 million.
Gaming is a literally recession-proof industry. Not that there are no flops, but as an industry, he is here to stay. Gaming attracts a lot of investors and serves as a potential candidate for a startup to grow. This is due to the booming popularity of competitive gaming in recent years. Shroud has become a legend on his own merit. The PUBG world competitions organized to get everyone tuning in, making the gaming industry a booming and mean fish in the ocean. Here is a list of startups that are making it big in the gaming industry.
Improbable was made with a small goal in mind and so far, they have been performing it wonderfully. This startup helps game developers to discover better methods to perfect their multiplayer games. If you think this is not a worthy startup, wait till you hear this. This company has managed to garner total funding of $600 million.
This startup serves as an independent competitive online gaming platform with a user base of 15 million. The most amazing feature of this platform is that the users can win real prizes for the achievements gathered. This startup has total funding of USD 29 million.
When people said that games help you become a healthier and more powerful version of yourself, they were not lying. However, with the advent of video games, the essence of outdoor games has been reduced. But my fellow introverts do not worry. Peak is a startup that makes games that are aimed to increase and boost your cognitive abilities. The games test your memory and focus along with sharp problem-solving skills. The company has total funding of $18.6 million.
Nothing gets the adrenaline racing in your bloodstream like some good old racing game. This startup has a total funding of USD 5.5 million. It has seven high-speed titles under its bag for you to enjoy or take inspiration from.
Video streaming platforms
Videos streaming services are one industry that has flourished and outdone every other industry in this lockdown. Surprisingly, even after the lockdowns release, the habit of the normal human being is now so dependent on the online streaming services that there is unlimited scope for startups in this sector.
FilmDoo is the Spotify for independent movies (Sorry Netflix). This platform operates on a video-on-demand basis. It is synonymous to a treasure trove of movies that are both independent and international for people who want to watch underrated flicks. It is teeming with indispensable masterpieces. The total funding received by this company is around $307,000. This makes it a relatively smaller sized startup as compared to the mammoths above, however, a successful one.
The music lover in us dies to attend that one concert that your favourite band is playing in a different city. But you cannot because you have other commitments to maintain. Much agony, yes? I know the pain, and so does Humm. This startup helps its users to broadcast live concerts being held anywhere across the globe. The total funding gathered by this company closes in at around $709,000.