Farwah Jafri | October 12 2021
The most successful tech startup ideas are those that offer a profitable solution to a pressing problem and make the world a better place. The best startups are disruptive and engage their target audiences successfully. There have been several unicorn companies emerging lately that are valued at $1 billion or above such as Airbnb, Pinterest, and Uber.
To disrupt the way an industry is usually run is a sure-shot way to turn your small startup into a unicorn. For instance, Airbnb transformed the hotel industry and the way people travel, and Uber completely took over taxi services and other means of transport.
In the U.S., the rate of business startups stood at 11.8 percent in 2019, and the number has only increased since. The higher the number, the better chances a startup has to reach the unicorn status.
In the tech industry, there have been several new startups that have brought about immense disruption in the best possible way. HIS Market Digital, for instance, is a fintech innovation that helps companies understand the rapidly changing financial terrain using data visualization.
Another great example of transformative technology comes from healthcare. Color is a population genomics and healthcare app that earned more than $75 million in 2020 alone. During the global COVID-19 pandemic, the app helped in testing for large populations.
An interesting innovation in ed-tech that reached unicorn status is Articulate, which hosts online training for thousands of organizations including all Fortune 100 companies.
Let’s have a look at the best tech startup ideas of 2021 that are making waves in the industry.
There is not a shred of doubt that artificial intelligence is the next big thing in science and technology. No area of life is unaffected by AI anymore, and that is not necessarily a bad thing. Human beings are creatures of comfort, and AI offers us the ease that we crave in life. From facial recognition software to AI in healthcare and other industries, AI has become a major part of our lives, so much so that we can no longer survive without it.
While the pandemic turned out to be horrific for several industries, AI was not one of them; it only prospered further and made its presence felt. In fact, during the past year, startups began to create even newer tools for students, teachers, and healthcare workers. Everything that made our lives easier during the pandemic, from online shopping to the swift development of the vaccine, came through the involvement of artificial intelligence.
In 2021, AI is still the number one tech startup idea to watch out for. AI in security, fraud detection, and problem-solving have shown that AI is evolving fast and that more and more real-world problems can be solved by creating and applying new algorithms to them.
There are too many ways to use artificial intelligence in our lives, and if you are looking for the next big tech startup idea, look no further!
It is more than obvious that the healthcare industry has not been the same since the pandemic struck. Because people could not personally visit doctors or hospitals when they were ill, applications and software that either connected people with their doctors or offer medical advice based on artificial intelligence were preferred. There has been enough research to suggest that primary healthcare can be given to 80% of the cases with virtual medical services!
Now that people are more open to relying on technology for their healthcare, health tech has become an amazing tech startup idea. There are more and more professionals involved in bringing primary healthcare to people’s smartphones, and you can be one of them. The industry is booming and now is the perfect time to jump in.
We are all aware of how transformative the entire year has been for employers and employees. Places that never could offer work-from-home had to come up with quick solutions that let their employees fulfill their duties from isolation. To do this, they employed several remote working software such as Microsoft Teams and Monday.com. Today, the demand for remote working software and apps is far from over.
Various problems cropped up when hundreds of employees started working unsupervised in a remote working environment. It is more challenging to track employee progress and keep up engagement when the entire workforce is not present at the same place. Personal remote process automation thus became one of the best tech startup ideas in 2021.
Through RPA, time-consuming and menial tasks can be assigned to bots, thereby saving employees’ precious time. With RPA’s help, companies can make it incredibly easy for their employees to work safely, productively, and successfully! You could say that it is one of the best ideas for tech startups in 2021.
Another fantastic tech startup idea is what we call EdTech, a combination of education and technology. The pandemic is not over yet; with several new variants storming the world, education is one of the core industries being affected. Schools and universities are still conducting online classes using several online tools.
According to an article in EdSurge, EdTech raised about $803 million in the US alone during the first half of 2020! Today, there is room to profit even more while making learning accessible to millions of people who wouldn’t have it otherwise.
Source: EdSurge
Biotechnology is essential in improving the quality of human life. Our very delicate bodies are prone to damage, and biotechnology can help us overcome these weaknesses with great ease and finesse. From prosthetic limbs to genetic engineering, biotechnology is fascinating and useful, which is why there is no shortage of investors for this tech startup idea.
When breakthroughs are achieved, profits that can be made is unimaginable, along with fame and respect from the millions whose life you could drastically change for the better. If there was a fail-proof tech startup idea, this could be it!
Robotic delivery may not be the easiest tech startup idea to work on, but the payoff sure can be worth it. From groceries and food to all sorts of online shopping, there is huge growth witnessed in ecommerce. This means that there should be ways to deliver the products people are ordering online so regularly. Robotic delivery fits right in.
Robotics has been on the rise for the past decade, but 2020 sped up the process quite nicely. When limiting human-to-human contact is the goal, there is no better way to do it than using robots. We predict that the future holds a lot more potential for robotics to overtake more human responsibilities in due time. Businesses might even begin bringing robots to the front lines as receptionists and greeters so their processes are fully automated.
Ecommerce is not a new tech startup idea but it just never gets old! People love buying things and they will continue to do so. This makes ecommerce one of the best and most failsafe ideas to look into. Go for an e-store that has products from several sellers (Amazon or Etsy style) or sell your products. Since the industry is quite saturated, it may be more difficult to get started; but it can happen for you if you persevere.
See Also: 12 Tips For Naming Your Startup
Before we sign off, let us mention that starting a business may not be the easiest thing to do, but the long-term gain from choosing to go for a tech startup can be huge. Good luck!
Farwah is the Product Owner of Monily. She has an MBA from Alliance Manchester Business School, UK. She is passionate about helping businesses overcome challenges that hamper their growth, which is why she is working at Monily to facilitate entrepreneurs to efficiently manage business finances and stay focused on growth.
