Nowadays, we are facing a new era of entrepreneurship. Economic growth attributed to the advancement of technology has altered the way people live and given birth to a myriad of new business opportunities. The proliferation of startups across the globe is an evident sign of the rise of digital economy. While startups do not necessarily rely on technological advantage to grow, there is no doubt that today’s aspiring entrepreneurs are inclining to use technological sophistication as the backbone of their business. Startup founders are looking to help people by implementing ideas and collaborating them with new technologies.
When it comes to the most viral startup niches, there are several business categories that are currently becoming trends. According to Kempler’s study of 200 top startups around the world, many startups today envision in helping customers accomplish something. As users are eager to find things, “find” category tops the list as 21 percent startup want to help customers discover content and recommended places to go. Following the “find” category, 11 percent businesses are helping consumers “buy” goods and services online, while another 9 percent startups are helping people and businesses through “organise” category startup.
When you want to create your own startup, first you have to know several things about business. This includes finding out what startup categories are on high demand, the potential countries with strong economy to start the business, the estimated cost of running the business, as well as healthy business environment.
Here are four popular startup categories currently blowing up in Southeast Asia region as your guide to understand and find your own startup categories.
The demand of modern life requires people to be more flexible than ever. No wonder, ride-sharing and ride-hailing service is among the most profitable business opportunity today. Startups are racing to offer a wide of range transport services through one mobile app. Singapore-based Grab is among the most successful startup in the transport category that has reached total disclosed funding up to US$5.5 Billion.
Today’s busy lifestyle makes people look for a simple way to use their time efficiently, including in shopping. They want to minimise the hassle of shopping and buy their needs online. Buy is variety of online marketplace startup category that enables individuals and business owners to open and run their online stores for free. Tokopedia is one of this startup category that has total disclosed funding up to US$1.3 Billion.
Busy lifestyle also makes people want to be entertained without leaving the comfort of their home. The need of entertainment that can be obtained everywhere and everytime makes entertainment platform startup category become a solution for it. Iflix is one of the most popular startups launched in Southeast Asia and garnering a funding of US$298 Million.
Isn’t it annoying when you are trapped in a long queue to get a movie ticket? Find category startups exist to help people find and purchase tickets more efficiently. Find startups offer a variety of content including selling transportation tickets and hotel rooms. One of them is Traveloka which is based in Indonesia that help people to find tickets and hotels in a mobile app. The company already gained funding up to US$500 Million.
All these startup categories are designed to solve problem of human’s daily activity. However, there are still many hidden opportunities to innovate in startups, especially in Southeast Asia as it is growing to be the power engine of the global economy. For example, “Teach” startup category can offer online education platform to help parents provide the best educational opportunities for their children.
Next read: Push Your Startup Forward with Integrated Marketing