2021’s Start-Up Market: Trends and Forecasts
Despite 2020 being a tumultuous year for industry, the start-up scene was buzzing with digital transformations.
At Allied Legal we witnessed first-hand the shift from physical offices to at-home offices, which fast-tracked the digitisation of company processes and communication across the globe. While the world hopes to return to a new normal in 2021, the innovation of new technologies is set to soar.
Here are the biggest start-up trends we forecast for 2021.
The Rise of Start-ups
The move from city blocks to home-offices presented an opportunity for industry experts and visionaries to develop their business ideas, sparking hope of a post-COVID entrepreneurship boom. Winston Ibrahim from Fast Company believes that there has never been a better time to launch a business. With major industries showing cracks in the system – now is the time for savvy start-up’s to create innovative solutions.
At Allied Legal we saw a growing trend in 2020 of green initiatives which transcended all areas of business. Sustainable start-up’s or ‘green start-up’s’ have even garnered the attention of venture capitalists and green investors who have become increasingly concerned about a start-up’s social and environmental responsibility, as well as their returns on investment. According to reports released by The Global Sustainable Investment Alliance (GSIA) sustainable investment or sustainable finance is on the rise.
Growing sectors considering their environmental impact are said to include agritech, energy, manufacturing, transport, construction and fintech.
Start-Ups and the Supply Chain
The uncertainty caused by recent trade wars and COVID-19 has disrupted the supply chain of many businesses. As many companies outsource their manufacturing to countries like China and India, businesses are now considering ways in which they can control all aspects of their supply chain. This offers an opening for start-up’s seeking to streamline the supply chain process.
Virtual Health Care
In 2020 healthcare providers attempted to lower the risk of patient and staff exposure within their in-person centres. This prompted a major
boom in remote offerings such as telemedicine and telecare. Forecasts
a boom in areas such as biotech, robotic healthcare, and AI powered healthcare platforms. Already start-up’s like Coviu are
paving the way for start-up’s in the healthcare industry to develop innovative digital technology.
COVID-19 proved that working from home is completely do-able, if not productive. This saw an increase in the number of workplaces adopting the ‘hybrid’ model, with employees balancing their time between home and the office. Platforms such as Zoom and Slack became a necessity for large companies and start-up’s in 2020, and their popularity is projected to continue into 2021.
This is seeing a demand for productivity and collaboration platforms which allow clients, investors or co-workers to interact as they would in a physical space. Forbes has named both Glue and Amie as productivity apps to watch in 2021.
Do you have plans to launch a start-up in 2021? Give us a call.
With 2021 looking to be an exciting year for start-ups’ – now is the time to get your business idea off the ground. At Allied Legal we provide sales coaching and start-up specific legal advice every step of the process. Learn more by giving us a call on 03 8638 0888 or sending us an email at email@example.com
You might also like our article How To Get Your Startup Ready To Sell.