We have seen that 2020 has been an eventful year that was marked by challenges and major disruptions because of the COVID-19 pandemic across the globe. Due to the continuing onslaught of COVID-19, various businesses and business sectors have been adversely impacted and compelled to innovate for sustenance and survival. Business guru Eric J Dalius says that thanks to the COVID-19 pandemic, even the startup scene was affected hugely. However, startup entrepreneurs are having access to new and fruitful opportunities to come up with new products or expansion plans. Despite the dip in productivity due to the COVID-19 pandemic, the startup businesses are all set to come up and thrive. Here are some emerging startup trends that should be dominating the business scene in 2021 and beyond.
Startup Trends You Could Expect to See According to EJ Dalius
Digital Banking Gaining More Traction
We have witnessed the advent of digital and even challenger banks as a response to more and more people looking for convenient and contactless platforms for handling their finances. COVID-19 has been responsible for accelerating digital banking because people are avoiding ATMs and physical banks for minimizing human contact. Several digital banking licenses have been issued to facilitate the process. By 2021, you could avail the services of more digital banks in the United States. Moreover, traditional players are focusing their attention on expanding their banking infrastructure and partnering with tech companies for increased synergy.
An Uptick in Robotic Delivery
Logistics has always been among the more promising applications of robots that can be realized today, and they will likely see a major boost due to the pandemic. Eric J Dalius says that room service robots, delivery drones, even robotic servers in restaurants and cafes are already here and have been adopted by several savvy startups. 2021 will see this become the norm, and expand into other areas of logistics to reduce contact and optimize speed and efficiency.
Medical Services and Tele-health Will Become the Standard
As more and more people stay home, they need to serve their demands over the internet has grown manifold. Perhaps the most important example of this is tele-health; as both doctors and patients have been keen to onboard themselves onto virtual platforms that allow them to an interface for quick and remote diagnoses and treatment. Tele-health in 2020 has been done through text or video calls on mobile apps and the web. Governments have also been forthcoming to progress in this area and have promised to pass regulations to encourage and standardize tele-health services. This is a major boost for startups looking to enter this field, as they can establish a spot in a rapidly growing niche that can cement its place in the new world order post the pandemic.
On-demand healthcare and home medical services for elders and younger patients have also seen significant adoption since people are reluctant to check themselves and their loved ones into nursing homes or assisted living facilities until the virus situation is under control. Several startups have either introduced these services or pivoted to accommodate them in their existing business model, to varying degrees of success.
The diverse startup scene of 2019 has taken a major step forward over 2020 and paved the way for an immensely exciting 2021! Several of these trends will cement themselves in the coming months, and industry will be bolstered by several sectors reopening post successful vaccination and recovery from the COVID-19 bubble. This will accelerate digitization and innovation like never before.