Promising Sectors for Startups in 2016

Promising Sectors for Startups in 2016

2015 was the year when many food tech startups attracted the eyes of investors and established their footprints in the business world. As we have already moved into the New Year now; has penned down top sectors that hold a promising future and favorable prospects in 2016.

Internet of Things:

Also known briefly as IoT; this technology will rise way too high with the penetration into Smartphones and mobile devices. The IoT has specific features that will give immense power in the hands of consumers and they will be able to:

  • Control the actions remotely for things they use in daily life
  • Design and customize the things according to user habits and behavior
  • Improve the efficiency of different business segments
  • Utilize the resources in a much better fashion
  • Optimize the functions to result into big savings
  • Empower individuals and organizations for undertaking bigger tasks

The capability to control the devices in a jiffy, and with more accuracy, will also help the users to streamline various functions in their businesses and concentrate more on the customer acquisition and service.

Virtual Reality / Augmented Reality

After you have experienced mobile tech, IoT and the Ad Tech; what according to you should be the next big thing to lure customers? If you ask my opinion, I will go with Virtual and Augmented Realities.

We will soon see the VR and AR replacing lengthy web catalogues, PowerPoint presentations and videos to a larger extent where the users are given the advantage of experiencing things in 3D or real lifelike formats.

The best part is VR / AR comes with no distraction which makes it surely the next sound option for publishing. You can take your customers virtually everywhere with you and help them understand what you won’t be able to describe in word sometimes.

Health Technologies:

With increased fusion of Internet and Mobile Devices, health tech or health technologies sector is growing these days at a rapid pace. And the most considerable and significant growth driver of this sector is customization of MedTech (A.K.A. Medical Technologies).

Moreover, we all are exploring now the emerging trend of wearable and handy technologies which are available in the market at a very pocket friendly price and help consumers and providers to reach each other at lower cost in minimal time period.

The innovation of measuring and examining devices was a great breakthrough using the Health Tech few years back; now the world is expecting some advance applications of these technologies in our daily routine health activities.

Financial Technologies:

Also called the FinTech, these technologies are going to create a lot of disruption in to the financial world in the New Year. As confirmed by finance experts; we will witness some major changes happening due to FinTech.

It is also believed that in next 5-10 years; Bitcoin or the Crypto Currency will become the preferred option for internet transactions. As of now, banking is still old fashioned in India; except the fact that they have adopted computerization.

Some of the primary changes that are supposed to happen in 2016, are as follows:

  1. Credit cards will be replaced by online wallets like PayPal, Neteller, etc.
  2. Most of the Banking institutions will go virtual with minimal human interference.
  3. People will get the power of financing borrowers directly without banks as intermediaries.

Big Data:

This sector is currently being used at mass scale by certain big brands and companies only. The future of any startup lies in increasing the productivity and affordability which means you get a better ROI (Returns on Investments) for every single rupee you spend.

And in order to achieve this, the Big Data is going to play a key role in 2016. As we already know that the tool is not being used up to the level it should be and it holds a lot of potential in terms of increased ROI and output.

The Bottom Line:

There will be a lot more new sectors innovated and explored throughout the year and we expect a series of new products and services hitting the market in 2016.

As a startup founder, you are advised to think of some genuine product / service you can build and help your customers for some specific reasons with that.

Once you are ready with the concept and the blueprint of your idea; you can approach financers and Venture Capitalists in order to raise capital for your startup. So what are you waiting for? Start now and move towards the success you were dreaming of for long! We wish you all the very best to get going!



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