7 Best Startup Ideas for Businesses in 2020
Do you want to start own business, but can’t come up with a good idea? Are you afraid to create something innovative because of the fear to find your product/service to be useless/ not trendy/ without market need?
If you answered “Yes” to both questions, our article is exactly for you!
Relying on the recent business researches and market analysis, we’ve collected the most interesting startup ideas that will help you stand out from the competitors and surprise your customers in the upcoming 2020. Let’s go!
Keeping up with the trends
As dandies like to say, “If you want to be trendy, forget about trends.” Now then, remember: such tricks don’t work when it comes to serious business. Entering the market, you need to be convinced as much as possible that your product/service is:
- useful / demanded;
- well-timed and trendy.
The quality of a product directly depends on the team that is developing it. The demand is checked by a thorough analysis of the market + the creation of a good MVP and its testing. Likewise, the timeliness is measured by getting into global trends in the market.
As for tech startups, it’s crucial to be aware of what technologies determine business trends. Looking into our crystal ball (and Gartner’s research), top technologies affecting the market in 2020 will be:
Without doubts, these trends open up a world of new opportunities for startups. All you need for success - is a combo of the original idea and advanced technology.
Actually, MassMedia Group can provide you with both:)
However, let’s start with the top 7 ideas for your startup in 2020!
#1 Holographic Business
Holographic Business - even though the full-size 3D images don’t seem to be so fantastic as several years ago, the holographic technologies are still impressive and continue to provide the customers with an unforgettable experience. The wow-effect, that can be achieved with the help of holograms, is definitely what the modern business need.
According to The Conversation, by 2020 the market for genuine, display holograms will be valued at US$5.5 billion. So it’s obvious that the demand for such technologies will only grow. Military mapping, marketing, information storage, medical sphere, art, security, communication, entertainment, retail - these are at least several spheres where holograms are used nowadays. What’s next? We don’t even bother to predict. The only thing we know for sure is that holographic technology will continue to revolutionize the way we used to live.
So if you want to start doing something innovative, highly-demanded on the market and super-lucrative - why not try to launch own holographic effects company? Or, for instance, holographic optical theatre? Of course, without proper investment and a talented team, it’ll be quite hard. However, with such business you can be sure that you’re on a roll at least for the next decade.
#2 Service for Retirees
Service for Retirees - recently, an unprecedented trend has been observed in the USA: according to Population Reference Bureau, the number of Americans aged 65+ is predicted to almost double - from 52 million in 2018 to 95 million by 2060. The proportion of people aged 65+ in the total population will increase from 16% to 23%. That’s why different services for retirees are becoming more and more popular. You can use this fact and create something really useful for senior people.
Here are several of the most interesting examples of real apps for retirees:
- GoodRx - compares prices from pharmacies to help you find the most favorable price for prescription drugs
- Magnifying Glass + Flashlight - makes tiny print easy to read
- Senior Savings - helps to find stores, hotels, and restaurants that offer discounts for seniors
- Tapestry - spam-/add-free and easy to use social media app for seniors to keep in touch with their relatives
#3 Cloud-based employee monitoring service
Cloud-based employee monitoring service - according to Gartner, more than 80% of companies will be monitoring their employees by 2020. However, if you think that the prime goal of such monitoring is supervision, you’re wrong. It’s all about DATA. And special tools that can gather such data are evaluated as a $200 million industry nowadays. From ordinary restaurants or colleges to large multinational corporations - companies are ready to invest big money into software, that can help them reach, as we use to call it, “Golden OPD”:
From this point, a cloud-based employee monitoring service - is exactly what you need to create to hit the mark! However, you should keep in mind, that there is a great number of competitive products, that have already entered the market and proved to be successful. According to Capterra, top products in this class are:
- Time Doctor
Discover their core functions, pros and cons, and think about features that can bring you competitive advantages. Who knows, maybe your product will be in this list in 2020:)
#4 Kids tech company, that enables safe digital engagement
Kids tech company, that enables safe digital engagement - As children became an integral part of Internet users, the issue of the safe digital environment and digital privacy for kids arose promptly. The research, conducted by The New York Times, shows that many kids apps developers are still violating children’s privacy law (COPPA - in United States, GDPR-K - in European Union), by collecting their personal data (IP, geolocation, various demographic characteristics) and sending it to tracking companies. On the other hand, the question is how brands and content-owners can engage children safely?
A perfect solution is to use SAFE AD. It’s not so easy as it may seem for the first glance and very often the assistance of experts is needed. For example, do you know about SuperAwesome tech company? Using advanced technologies and perfect awareness in law and marketing, this firm helps companies to create apps, games and other products for children without tracking their personal data. SuperAwesome provides brands, content-owners and developers with COPPA /GDPR-K compliant advertisements (that, by the way, are signed with SAFE watermark) to help them reach the target audience and guard kids digital ecosystem at the same time. Among their clients are: Nike, Nickelodeon, Warner Bros. Pictures, Nintendo, Electronic Arts, etc.
The demand for services of such companies like SuperAwesome is very high. So if you love kids, technologies and marketing, you can make the world a better place launching a kids tech company, that enables safe digital engagement.
#5 Affiliate Marketing Agency
Affiliate Marketing Agency - more than 90% of advertisers consider affiliate marketing to be an integral part of their overall marketing strategy. How does it work? In simple terms, the main idea is that, unlike traditional marketing, you are promoting the products of other companies or brands.
Each affiliate receives a unique link to promote the offer. He can advertise this product on his blog, social networks or create a landing page with a selling article.
By and large, the offering companies don't care what kind of advertising you choose. The main thing they are interested in - is conversion, provided with your help. In your turn, you earn commission on every engaged client/ website visitor/ sale/ click, etc.
An affiliate can be one person (typically, social media influencer) or even a brand/company. The key point - is to have access to the target audience of the offering company.
Sounds impressive, yeah? Alongside the increasing importance of affiliate marketing, the need for specific agencies also grows.
The thing is that most companies don’t have the opportunity/budget to hire a qualified expert who can deal with affiliate marketing issues on a full-time basis. An ideal solution for them - is to rely on an affiliate marketing agency, that has proven experience and can help to find the best affiliate partners exactly for their business.
So if you feel the potential to help other brands navigate the affiliate marketing waters, try your business skills launching an affiliate marketing agency.
#6 Electricity smart grid company
Electricity smart grid company - nowadays, it’s so popular to make everything “smart”: phones, watches, glasses, houses. So it’s no surprise, that people invented a special tool to manage electricity in a “smart” way. Applause: His Majesty SMART GRID. Are you sure that you know what is it?
Well, we’re not going to start long engineering lectures, so let’s back to the point. There are two important facts:
#1. people want to use renewable sources of energy more effectively;
#2. they want the electrical system control to be as simple and convenient as, for example, internet banking.
(#3. - shhh, don’t tell anyone! - they are ready to spend money on such solutions).
So why not try to become second Elon Musk and launch something innovative? Look through the list of Top 38 Smart Grid startups for inspiration!
#7 Migration-as-a-Service (MaaS)
Migration-as-a-Service (MaaS) - server migration seems to be a real “pain” because moving between platforms is often a high-stress, time- and cost-consuming process. This issue is so thorny, that many companies prefer to continue working with older platforms, rather than migrate to the new systems. As a result: irrational consumption of funds, unreliable digital environment, business risks and loses. Despite these realities, the Forrester survey showed, that:
- 72% of companies seek appropriate ways to improve their operations and innovate;
- 78% strive to enhance the experience of their customers;
- 86% of business still want to invest in cloud solutions to facilitate their digital growth;
- 77% of the companies want to get professional assistance from service partners in running workloads in the cloud.
A large number of companies need and WANT to start their journey to the cloud, but are afraid of potential obstacles.
That’s why MaaS technology companies appeared. That’s why starting such a company is a brilliant idea.
MaaS tech companies are like superheroes, that take care of all the worries associated with server migration (planning, pilot running, migration, optimization), letting organizations concentrate on their core business tasks. Are you ready to show your cloud-based super-power?
As you have seen, the list above contains a variety of ideas - from more realistic to futuristic. Which one to choose - it all depends on your courage, resources, and capabilities. Nevertheless, you should remember: an idea is the foundation of a startup. And the success of your business depends on how efficiently and professionally this idea is implemented.
Therefore, your next step is to find a team of specialists who are not afraid of complex technical tasks, are involved in your project and share your “passion”. What to look for when choosing a development team, what problems you may encounter and how to find a solution to them, read here: