Start-ups in India are booming unlike they were one in ten, a couple of decades back. Back then, when someone decided to put efforts to bring out their smart work to make money, they preferred to start a business and had been jubilant that way. But in recent days, with the aid of social media and creative elements across various fields, the start-ups have been transformed into a multi-dimensional business module where one can sit and operate his/her business from anywhere around the world.
For instance, in the past 5 to 10 years, we could see the leaps and bounds of many socially operated businesses in India right from online food delivery option to doorstep cab facility to reach whenever and wherever one wishes to travel. While the circumstance wide opens the business options, each should be mindful of the business type he/she wishes to. Because one foot in a wrong business hole can end up the career worse and it would take multiple years to come out of that pit.
So, what is the best start-up choice? How to choose a business possibility that meets and fulfills our dreams; demands. And how to play safely in these new start-up options? What all the steps to be taken before beginning an innovative start-up? To all these affirmations, here we have provided the 5 best growth start-ups to watch out in 2020.
Healthcare is a significant sector that has not been in the mainstream & played mediocre roles all years in the start-up sector. But with the services to be focused on 2020, the remote healthcare sector going to be umpteen in checking the individuals and old aged people health-related pre and post-process.
Despite an easy task at hospitals, in reality, it becomes heavily tricky once a patient has moved out of the hospital. Adding to the availability of such services, it is the data that more than 75% of healthcare-related costs are accounted for chronic diseases. Therefore, there is an emerging need for the devices that can look after and report an individual’s health in real-time to reduce duration response and eliminate the process of constant check-ups.
Remote healthcare collaborates with the implementation of such solutions using modern technologies. Some of the renowned start-ups in remote healthcare sectors are Pager, Doctor on Demand and MD Live remote healthcare.
Retail distribution and supply chain
Planning (Logistics) & supply chain are probably one of the most demanding and very potentially important processes when innovating or setting up a new business. In addition to the challenge of constantly changing customer expectations, from monthly home delivery to within a week delivery, instant product delivery, the customers have evolved with the product consuming unit.
Along with retail distribution in India making nearly 10% of the total GDP, especially in the core sector. Segregating and delivering a product takes a longer span to streamline but if not managed well, it may cause the customer to lack interest in a product/company. A standard retail distribution and supply chain management using the technologies are a strong value differentiator in the upcoming years. Most of the start-ups are all set to take advantage of this demand in the Indian market.
Learning and education methodologies
We are living in an era where learning, be it at the school level or landing up in a job, never seems to complete and is no more of physical classroom learning methods. Because traditional education methodologies let one be in a place for a long time, to focus entirely. But the modern education method has a solution for this.
In recent days, each of us is looking to uplift our skills in some field or sector, but in this process, the access to quality education can always be restricted by a couple of factors like finances or access. This has resulted in rise to platforms that can give the basic and mandatory education at a student’s betterment perspective.
Therefore, learning with education methodologies, today, are a lasting sector where a company provides material through easily understandable formats like video, text, audio, and animation for students across all levels that teach them diverse subjects and skills for upcoming jobs right from they can sit at home and earn lakhs.
In a recently made data, more than 45% of students have subscribed to online educational classes, in India. Byju is one such well known in India that has stomped strongly in the education market where it has reached a paramount to be the official sponsor of Indian Cricket Team – BCCI.
Content consumption behavior
Whether you have a top-notch product to sell or mediocre product in your hand, the one pivotal understanding to have is content consumption behavior of the target audience.
In fact, you may have an innovatively designed product, but in the business perspective, there is no use of it if the customers are not aware of its existence in the market or feel the mandate for the product. It is the responsibility of a brand to provoke their audience on why a consumer must choose its product when there are so many other products available within the demographic boundary.
A brand’s reach and presence to its customers is one of the most crucial factors to elevate or decrease sales. Corporations spend a lot of their resources in ideating the best campaign to reach their target audience in an abbreviated time, but they are not aware of the best ways to project the products’ presence.
Content consumption behaviour is a type of service that helps compute the ongoing best platforms which can also be aided by a corporation to reach its consumer target sets. In 2020, where new businesses can appear a lot, especially in the digital medium, there will also be appearing of start-ups that can full-fledged conduct content consumption behaviour analytics and supply these start-ups with much better insightful solutions. Some of the few start-ups who are already in this consumer content consumption behaviour are Pattern sense, DDMR and connections; who have displayed their credibility in this field.
Workspace as a Service
Those days are gone of buying lockable spaces for work, investing resources in the moderate spaces, and then constructing great-looking offices from scratch. Having the constantly changing landscape of corporate India, the need of well-designed start-up and the cutting-edge evolution technologies, proving access to many services such as human resourcing, content, design, infrastructure, and other support services are also undergoing changes rapidly.
The unique styled co-working spaces and inspirational hubs are emerging in 2020 as new tech working spaces, we’re a start-up and established corporate will not only be able to just plug and play in means of infrastructure but will also receive an environment to collaborate, learn with other sector employee, and co-build companies using the teams shared. This will pay hugely on the benefits with aspects like work-life balance, wellness, health, and connecting various communities in a single place, mentorship, uplifting skills, and so much more.
These co-working spaces let an employee feel like home and allow him/her to work comfortably; resulting in better productivity, creative outputs, quality work, delivering the outputs on time, knowledge sharing mindset and other collaborative attitude within the employees.
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