7 Best Profitable Tech Startup Ideas to Watch for in 2021
“Inspiration for new products comes from new ideas. And finding those promising product ideas is the beginning of a new product development process.”
Ever had a headache to find a great idea for a tech startup?
You know the best way to start a tech business industry is to get an idea. But the year 2020 wasn’t that great for most businesses out there due to the pandemic situation.
However, any crisis can bring out the perfect business solution; all you need to have is the right idea to tune in to the situation. As an example, look at the sales businesses made by selling facial masks and sanitisers.
The post-Covid world will mainly depend on the power of the internet, and for the same reason, most businesses are rapidly moving online.
Over the past several months, you might have witnessed how the pandemic had forced many small and large scale businesses to move online. This massive online migration of small and large scale businesses unfolds new possibilities for tech startups to build unique models for these businesses.
So why don’t we spend some time together researching some promising new tech startup ideas that could help you build your business empire in 2021?
What are the Best Tech Startup Ideas to watch for in 2021?
One thing is for sure: the evolution of technology in recent years proves that unless businesses are adopting the latest available tech in the market, they will get eliminated from the game of business.
With a rising number of new tech or software startups growing and receiving funds for their unique business models, many new opportunities are arising for them amidst the Covid-19 at rampage.
Let’s get straight into the complete list of promising tech startup ideas that have impacted 2020 and will have immense potential in 2021.
2021 Tech Trends that every startup should look into:
- Artificial intelligence
- Telehealth and Virtual Medical Services
- Remote Working
- Online Course Platform
- Biotech Startups
- Robotic Delivery
For the past decade, AI has been gaining a lot of attention, and there’s no doubt AI would evolve even further. In 2021, most mainstream businesses will be equipped with AI, thus opening numerous tech startup opportunities.
Nowadays, AI can read for us, speak, write, hear, see, and analyse things in terms of videos and photographs. All of this is completely transforming organisations and helping them re-imagine and streamline their business processes. Read the advantages of AI in mobile app development.
For many industries, this COVID-19 pandemic was disastrous. But, it only accelerated the use of AI across the U.S economy. During this time, many companies started to create new services for remote workers and students. They build up online shopping, dining options, make customer call centres more efficient, and speed up development of essential drugs.
With the increased infection rates and bio lab cases due to the pandemic situation, AI plays a crucial role in maintaining the analysis of those overwhelming volumes of data.
Today, one out of 10 organisations uses more than 10 AI applications. It includes chatbox, security, fraud detector, and more. The increase in adoption of machine learning across industries has proved that how its algorithms and techniques are solving complex real-world problems efficiently.
AI.Reverie, Anodot, Dataiku, BigML, etc., are examples of leading AI startups shaping the AI industry.
So, from healthcare to IT services and cybersecurity, startups have a plethora of areas to be explored. And in 2021, the demand for them is only going to increase.
Telehealth and Virtual Medical Services
The one thing that changed a lot in the health industry during the past year is tech’s tremendous medical services involvement. For this case alone, many tech companies are streamlining their services for the healthcare industry.
Recent studies have shown that telecalling the patients could resolve about 80% of primary medical attention required. Furthermore, hospitals can improve their online healthcare system with the aid of virtual medical services.
These services open an abundance of tech startups opportunities to compete against more prominent players within the same industry. The demand for such services is increasing day by day as more and more startups discover its benefits like:
- It can help cut costs
- Shorten wait times
- Bring healthcare to people in rural areas
- Keep a close eye on newborns
- Help keep at-risk patients healthy by providing quick check-ins.
It is not a pleasant way to wait in a doctor’s office and spend a long time. By having contact with other sick people, there’s a high chance that people might leave with diseases worse than what they came with. Telemedicine help avoids such risks, and that’s why it is booming now.
See how Telemedicine The Future Of Health Care.
As the COVID-19 pandemic has hit worldwide, “Work from Home” abbreviated as WFH, has gained popularity across the tech industry. But as months passed, we know how things escalated quickly.
Issues started arising as more and more companies began switching to a remote working model. Like it becomes more challenging to highlight professional achievements, the engagement between workers becomes much harder, etc. This problem gave rise to tech solutions like personal remote process automation.
Robotic Process Automation means, the bots allow fast and easy automation of repetitive and time-consuming processes without wasting valuable money and time of employees.
With the help of RPA (Robotic Process Automation), using software and apps makes the routine tasks of employees easy to execute and makes remote working safe, steady, and productive.
If you are looking for a tech startup idea that could skyrocket your B2B marketing, then helping thousands of companies to manage their remote-working employees would do the job for you.
The industry that gained the most attention during these uncertain times is the education industry. When students, teachers, and their families feel burned out from pandemic learning, companies that market online learning tools to schools were enjoying a coronavirus windfall. Investors are happy to invest high in EdTech startups.
According to CB Insights report, (a firm that tracks startups and venture capital), venture and equity financing for EdTech startups has more than doubled. This means it rises from $4.81 billion in 2019 to $12.58 billion worldwide last year.
With all those schools, institutions, and other academic centers taking their business entirely online, startups secure funds and grow even as COVID-19 continues.
Even in the post-pandemic world, many organisations have already taken initiatives in designing a suitable online curriculum.
The increasing demands for online coaching businesses are also showing how vast the opportunities for tech startups are within the EdTech industry.
Many biotech startups emerge every year alongside the rapid growth of technology. Such startups gain publicity and support from angel investors and governments because biotechs are essential to improving human life quality.
Many of these companies attract entrepreneurs, executives, and investors because the payoffs can be huge when breakthroughs are made. However, the challenges faced are not easy, either.
If lots of caution and innovative ideas proceed, you can have a massive opportunity as a tech startup to impress investors and receive multimillion-dollar investments and even attract the media and gain some fame.
See how young VC-backed founders share their stories on launching BioTech Startup.
It is not a simple task for entrepreneurs to run robotics startups. Yet the number of robotics startups working on groundbreaking technologies are growing in numbers.
Robotics have been fast-growing for the past few years, but the current pandemic situation accelerated its growth even further, giving every startup a chance to up their game.
The astounding number of efficiencies that robotics perform in limiting human-to-human interaction has helped fight the virus. This adds a higher demand for robotics in upcoming years where autonomous robots are brought to most businesses’ front lines.
So, if you are thinking of a robotics startup, you should learn the do’s and don’ts on building it as it grows and matures.
Are you thinking of starting an ecommerce business?
As reported by Forbes, in the first quarter of 2021, the U.S. eCommerce sales grew by 39% year after year to $199 billion. This growth is only increasing, as global e-commerce sales are predicted to reach $4.2 trillion this year.
Developing a simple and easy website along with a mobile app is all you need to grow your eCommerce business. Talking about the eCommerce business, now is the best time to start one.
In almost every sector, the eCommerce industry is booming. From running a top-rated online fashion store to selling old pieces, it should all work.
The purchase behaviour of people has changed a lot ever since Covid-19 has hit the world. People enjoy the ease of online shopping as well as the websites providing deals and discounts.
They heavily rely on eCommerce to shop for everything from essential goods to holiday gifts. This is not just an eCommerce acceleration, but a massive shift in user behaviour which opens doors for startups in the eCommerce sector.
No matter if a thousand more tech startup founders emerge under the eCommerce sector, there are still plenty of opportunities arising each day. You have to find the right niche to start your business.
Alternatively, you can be the shovel seller rather than mining gold. This means you could start giving various services for those who are new to the eCommerce business. Either way, there’s no better time for launching this business than today.
There’s no doubt a successful business does give you financial freedom. With the above list, I have presented you with some of the best tech startup ideas to build your business in 2021.
However, you need to know that everyone does have some ideas. Even though ideas are great, it alone could never build a successful startup.
Your priority is to determine whether the idea you have within you is worth turning into a business. Always remember, it’s not an easy task to run a tech startup company, so don’t refrain from asking for help.
Having someone to guide you is better than failing alone.
We at Neoito help startups build their businesses from scratch, guide them by giving free startup product development consultation, and most importantly, help them achieve financial freedom by developing their idea into a business model.
Now that you have these ideas, which one of the tech startups do you think is the best for you to build your business on? Let me know in the comments below.