Startups for 2024: trends and prospects
Startups are new business projects that solve current problems or market needs with the help of innovative technologies, products or services. Startups differ from traditional companies in their high potential for growth and profit, as well as a high risk of failure. According to statista, there were about 1.35 million startups in the world in 2020, with a total valuation of $3.3 trillion¹.
in 2024, startups will develop in different industries and fields of activity, but the following areas will be especially relevant:
- Artificial intelligence (ai) is a technology that allows machines to imitate human intelligence and perform various tasks such as image, voice and text recognition, data analysis, forecasting, optimization, etc. ai is used in many areas such as healthcare, education, finance, retail, security, entertainment, etc. idc predicts that the global ai market will reach $327 billion² by 2024. examples of successful startups in this area: openai³ (development of general artificial intelligence), uipath⁴ (automation of business processes using AI), sensetime⁵ (leader in the field of computer vision).
- Blockchain and cryptocurrencies. Blockchain is a technology for distributed storage and transmission of data that provides high security, transparency and decentralization. Cryptocurrencies are digital currencies that use blockchain as their basis. blockchain and cryptocurrencies have great potential for transforming various sectors of the economy, such as finance, logistics, law, energy, etc. according to pwc, by 2030 blockchain will add $1.76 trillion to global GDP. examples of successful startups in this area: coinbase (platform for buying and selling cryptocurrencies), chainalysis (blockchain analytics and monitoring), bitfury (hardware and software development for blockchain).
- Internet of Things (iot). is the concept of connecting various devices and objects to the Internet to collect, exchange and analyze data. iot allows you to create intelligent control, optimization and automation systems in various areas of life, such as industry, transport, agriculture, urban infrastructure, home environment, etc. According to Gartner forecasts, by 2024 there will be more than 25 billion connected devices in the world. examples of successful startups in this area: helium (creation of a decentralized network for iot), particle (platform for development and management of iot projects), samsara (solutions for industrial iot).
- Biotechnology and genetics. These are the sciences that study living organisms and their genetic material to create new products, technologies and therapies. Biotechnology and genetics have enormous potential to improve human health, longevity and quality of life, and to address global challenges such as food security, climate change and biodiversity. According to grand view research, by 2027 the global biotechnology market will reach $727 billion. examples of successful startups in this area: moderna (development of mRNA-based vaccines), 23andme (genetic testing and analysis), ginkgo bioworks (synthetic biology).
- Education and training. is a field that deals with the transfer of knowledge, skills and competencies to people of different ages and levels of training. Education and learning are important for the development of individuals, careers and society as a whole. In connection with the covid-19 pandemic, education and training are experiencing significant changes associated with the transition to online formats, the use of new technologies and techniques, and adaptation to new needs of the labor market. According to Holoniq, the global online education market will reach $404 billion by 2025. examples of successful startups in this area: coursera (a platform for online courses from leading universities and companies), duolingo (an application for learning languages), byju’s (a platform for online learning for schoolchildren).
These are just some of the possible directions for startups in 2024. in fact, startups can be created in any field where there is a problem or need that can be solved with a new product or service. the main thing is to have a clear goal, a unique idea, a team of like-minded people and a willingness to experiment and non-standard solutions. then your startup can become successful and benefit the world.
