Now is the perfect time to start a new business, with emerging tech opening up an endless number of possibilities. Becoming the next Mark Zuckerberg or Jeff Bezos is no easy task, but according to respected investors, these new startup ideas will put you on the right path.
We’re in the midst of another Industrial Revolution, as rapidly progressing technology continues to overhaul and improve the way that we live and work.
We are now constantly connected to one another through our smartphones and social media. We can order everything from taxis to food to our exact location with the click of a button. Likewise, we can turn to our AI personal assistants when we need a question answered.
Eager to make our busy lives slightly easier, we are quick to jump on these new technologies. Unsurprisingly, the tech boom has made a lot of people very rich.
Internet entrepreneurs Jeff Bezos, founder of Amazon, and Facebook’s Mark Zuckerberg are now in the top five richest people in the world. Google’s Larry Page and Sergey Brin come in 12th and 13th. While they are all now major companies, Amazon, Facebook and Google were once startups struggling to make ends meet.
Companies such as tech-taxi firm Uber, revolutionary rental site Airbnb and photo-sharing app Snapchat have joined the ranks of Silicon Valley’s elite in recent years. They are all now worth upwards of $20 billion.
Aspiring entrepreneurs everywhere want to add their name to the growing list of tech revolutionaries.
Given that the modern tech industry is still in its infancy, there are plenty of new startup ideas yet to be developed. However, finding a winning idea in what is still a largely untapped market is like trying to find the smallest of needles in a haystack factory.
New startup ideas that could make you a billionaire
Nobody can give you an exact winning formula. Yet, there are certainly people that can help to put you on the right track.
If you’re looking to create the next big thing, there is no better person to turn to than a Venture Capitalist. They have the experience, know-how and, most importantly, the money to help startups to thrive.
The social media space is filled and the autonomous vehicle market has been grabbed by the likes of Google, Uber and Tesla, but what do successful Venture Capitalists expect to take off next?
Healthcare AI – Scott Kupor
Andreessen Horowitz’s managing partner Scott Kupor has helped to transform the VC firm into a $6 billion company. Their investment portfolio includes Airbnb, Buzzfeed, Facebook, Oculus, Skype and Twitter and they are always on the lookout for exciting new startup ideas to back.
According to the experienced investor, the next industry to face a tech overhaul is healthcare. Interest in how we can use artificial intelligence to improve the way that we diagnose illnesses or decide on the right treatment for certain patients is rising. As a result, there is a gap in the market for a company looking to combine life science and computer science.
B2B system of record companies – Bryan Schreier
If you need advice on big business, there are few better to turn to than Bryan Schreier. The wise investor was head of international sales at Google, before joining Sequoia Capital, one of Silicon Valley’s most successful VC firms. They hit the jackpot with Dropbox and have also invested in Apple, Google, PayPal, YouTube, Instagram, WhatsApp and Yahoo! over the years. Sequoia have an eye for potential and will undoubtedly continue to pick up huge companies before their peak.
Computer technology allows us to record and store large amounts of data. However, it is often difficult to pull the data that you actually need. According to Schreier, a system of record company that uses emerging AI technology to help other businesses to understand, organise and navigate Big Data would be worth billions.
Next-gen subscription clubs – Mahesh Vellanki
At 28, he may still be young. However, Mahesh Vellanki has enough experience in the venture capitalist scene to know a good idea from a bad one. Having worked his way up, Vellanki is now Vice President of Redpoint Ventures. The firm has successfully invested in companies such as Just Eat, Stripe and Netflix.
In between listening to pitches from hopeful entrepreneurs looking for funding, Vellanki takes his time to note down any brainwaves that he has. Having released many of his ideas online, Vellanki believes that next-generation subscription clubs could be popular. For example, digital book club members could vote on books that they want to read. They would then receive it through the post, read it and discuss with fellow members via an app.
Vocal and audible computing – M.G. Siegler
M.G. Siegler is a star in the VC world. He successfully co-founded CrunchFund, a venture capital company known for investing early in tech firms such as Jack Dorsey’s Square, Airbnb, Vine and Uber, before moving on to become a partner at Google Ventures (GV). Bankrolled by Google, his new firm is invested in the likes of Uber, Nest and Jaunt.
Much like GV’s parent company Google, Siegler believes that vocal and audible computing will boom over the coming years. The likes of Google Home, Amazon Echo and Apple’s HomePod will dominate the hardware market. However, there are plenty of opportunities for tech companies to develop exciting new software for these devices.
Online financial services – Alex Rampell
Working alongside Scott Kupor at Andreessen Horowitz, Alex Rampell has plenty of experience as a venture capitalist. However, his area of expertise is finance. He previously co-founded and served as the CEO of online payment company TrialPay. The company now processes hundreds of millions of dollars each year.
The talented investor is somewhat surprised that there aren’t more hopeful entrepreneurs targeting the financial industry, given that it is a market worth trillions. The popularity of credit cards and online banking has already shown that consumers are keen to move away from paper money and brick-and-mortar banks. As a result, he expects the digitalisation of banking and money services to advance rapidly over the coming years.
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