A big part of the entrepreneurship idea has to do with being able to change the world, companies such as Google, Apple or Facebook managed indeed to change completely the way we work, communicate and live, becoming the prime companies inside their markets. However, there are still several markets that have not experienced that complete transformation induced by the appearance of a revolutionary start-up.
Here we have a summary of the 6 main markets still waiting for an entrepreneur to change our lives:
1. Artificial Intelligence
Even if the World could see in 2011 how the supercomputer Watson participated in a USA TV contest, artificial intelligence has not hosted any other life changing event in more than 4 years. However, it is indeed true there are a lot of important updates regarding interaction between humans and artificial intelligence. For now, we can only wait for an entrepreneur mind to put all this advances together and change the World.
2. New ways of Transport
Companies such as Google, BMW, Volvo or Tesla attempting to create an autonomous car, or commercializing space travel are some of the ideas on this market. We can expect that somewhere in the future a company will create a start-up allowing honey moons to be actually enjoyed on the Moon; however, we still cannot see any start-up able to change the World as much as the creation of the train did.
3. The Immortality Business
Both health and medicine improvements have allowed the human kind to live better, longer lives. We can find already some entrepreneurs such as Peter Thiel (founder of PayPal) trying to fight against time, with investments on start-ups fighting cancer or looking for a way to defeat death. Another important change in medicine is will be the evolution to a preventive and customized healthcare, There are lots of ideas, but the life changing start-up has not still arrived. We will have to stay mortals as we wait for it.
4. Finances for everybody
Ever since the Lehman Brothers situation, the financing game rules have radically changed. Smartphone payments are starting to become a regular thing, and there is a fierce competition between industry regulars (credit cards producers, TPV providers…), tech giants (Apple, Google) and start-ups (Square, iZettle…) trying to come with an innovative solution, but yet nobody has been able to accomplish it.
5. Social, Local, Mobile, for real
It is one of the main tendencies on information technology, and the B2C with the three of them will be more useful for the consumer. Even if some business have reached certain success on this line (TripAdvisor, Airbnb) none of them reaches the power of Google or Apple.
6. Worthwhile experiences
Offering customers the realization of their dreams or life marking experiences has become a happiness industry itself, and it is being profited by some entrepreneurs. Consumers look right now for start-ups able to create those experiences in a few hours. Being able to satisfy them with experiences to collect, possess or combine is a completely new market with the possibility for a start-up to change consumer’s lives.
Information obtained from Expansion.com (last consulted on Feb 2, 2016) “Sectores con futuro que aún no tienen la Start Up definitive” Elena Arrieta y Tino Fernández (28/11/2014) available here.