In today’s technology-driven world, many big ideas come from college students. If you doubt that, you should know that Facebook, Dell, and Google were made by individuals while still in school. The list of innovations coming from college students is endless. Therefore, an idea for a startup from a person still completing their education can easily and quickly become the next big thing.
As technology evolves, trends continuously change too. Likewise, ideas likely to become top business endeavors also change. As such, if you are a student and thinking of starting a business, this article presents 10 startup trends you may want to pay attention to in 2023.
Sustainable Financial Solutions
The drive to save the planet has pushed humanity to embrace sustainability in all works of life. Similarly, sustainable financial solutions are becoming mainstream as a pathway for protecting the environment. As such, many businesses are adopting the sustainable finance model. Likewise, startups are developing business models designed to satisfy the new criteria preferred by investors. For this reason, up-and-coming businesses stemming from college students will need to justify the net-positive effect of their ideas on the environment and account for social considerations. A lack of understanding of this trend can make securing funding for new companies impossible or challenging.
College students trying to start a business must not neglect their education. If you struggle to balance school and your startup, you should consider outsourcing some of your writing assignments to GrabMyEssay. This platform offers high-quality research and writing services for essays, dissertations, term papers and other schoolwork.
Biotech Initiatives
Biotech is an industry with a very bright future. Advancements in technology are driving innovation in multiple research projects, which include:
# Stem cells;
# Bioinformatics;
# Hormone synthesis;
# Vaccine development.
At its core are the analysis of DNA and the manipulation of molecules to find cures and prevent diseases. Many young college students are developing biotech solutions that will change human medicine and agriculture in the next few decades. For example, a few startups provide portable DNA testing solutions for use outside lab settings. Looking to the future, many more innovations in the biotech field will likely spring up, as this is a very promising and rewarding field.
Reuse of Established Business Models
In recent years, businesses like DoorDash and Uber Eats have transformed food delivery. For many onlookers, it seems like these giants are dominating their industry landscape. However, newer startups are providing similar services in niche-based industries. Likewise, the larger companies also do not have the global reach you may think. For this reason, investors are quick to fund startups in this niche and willing to explore new territories. This trend is transcending beyond food delivery, as startups in the automotive industry and other fields are also providing innovative ideas. In particular, much AI-based technology is leveraged to develop autonomous solutions in the car industry.
Shared Economy Solutions
The success of Uber and Airbnb shows a business does not have to own cars or properties to provide essential services to the public. Many startups are actively trying to take advantage of available resources owned by millions of people. As such, many startups made by college students are providing similar and diverse services to people looking to share rides and accommodations. In addition, this model has moved beyond transportation and accommodation. Now, several businesses are offering services like shared kitchens.
No-code Solutions
There are millions of people who want to create products and services. Yet, a large percentage of these individuals want nothing to do with coding or programming. For this reason, several no-code solutions allow people to build products for their businesses. The most popular of these businesses is Zapier, which makes digital product building seamless. The success of this company is driving many college students to put their energy on the no-code bandwagon. In addition, software localization services are adopting a similar model. This trend is likely going to multiply in the coming years.
Agile Software Development
Agile software development is a new program development process that allows for flexible and adaptive planning. In particular, it is primarily used by tech startups looking to streamline their internal processes. From this trend, a more robust scaled framework of agile software development emerges, providing a better way to run a business across several teams. As technology gets faster and more efficient, many more students will incorporate this tool when starting to nurture their ideas.
Agricultural Technology
Sustainable and regenerative agriculture are two fields essential for the future. They use technology to maintain and improve ecological systems and soil conditions. Unlike many technology-based fields, agricultural technology is still in its infancy. Therefore, there is a lot of opportunity for students willing to build a business around it. Plus, there are hundreds of investors looking to finance great ideas in this sector due to the positive impact on the environment.
Consumer Convenience Markets
Amazon has forever changed the service customers expect from businesses. It has institutionalized speed and convenience in service delivery. As such, many college students creating startups include these two parameters in the services they provide to their clients. Also, this trend is increasingly pushing into most existing businesses.
Digital Wealth Management
Every year, there are tens of up-and-coming digital wealth management platforms for customers to select from. Many of these businesses are made by college students. Also, most of these startups try to provide financial flexibility to their clients. In the next few years, many more startups will appear as the crypto and NFT markets expand.
Personalization
There are thousands of brands offering similar services to the public. What usually makes a business stand out is its ability to offer personalized options to its clients. Therefore, many startups are providing products and services with a personalization option. If you are considering starting a business while in school, you should think about offering personalized services to your future clients.
In Conclusion
If you want to start a successful startup while in school, you should consider adopting a few trends in the products and services you provide. The reason you will want to follow this path is that many of these trends point to what customers want from businesses operating in different niches. By extension, incorporating these ideas increases your chances of finding investors who see value in what you do. In addition, you must incorporate technological trends to reach more people. Finally, consider providing services that are sustainable and add social value to your community, thereby making it attractive to investors.
Don’t miss: Best Entrepreneurship Courses for Degrees Online and in Business Schools
About the Author
Mary Herd is an expert in venture capital financing for startups. She is also an excellent writer. As such, Mary loves writing informative articles about business and financing on multiple platforms.
