6 Innovative Areas to Start a Startup in 2016-19

by Yash Mehta June 11, 2016
June 11, 2016

The constant influx of new technology has nowadays made it extremely easy to have your own start-up. This year, one can easily think of setting up a business, frame out some strategies of low-cost franchising and seek resources on where to find successful opportunities. The ever developing technology has made it possible to formulate new and innovative ideas for setting up a business. While the foundation of entrepreneurship remains the same, the way it has manifested itself has significantly changed over the last few years. Social media sites like Twitter, Facebook and LinkedIn have helped to build and flourish small business brands, thereby fostering a positive sentiment for the MSME sector. Consider opting a few innovative startup ideas for 2016-17 which are mentioned below:


WOMEN HEALTH PLATFORM


All the aspiring women who wish to launch their own businesses and are heading towards entrepreneurship have a vision to help other women. Women-centric business and platforms have grown from 6% to 36% in last 7 years according to Geri Stengel article on Forbes. This platform can cater to the needs of women and is continuously expanding the women’s media creating a new way of thinking related to the concept of femininity, women empowerment, etc. An online store for women catering to the health needs of the women can be a good startup idea this year!


BOX SUBSCRIPTION SERVICES


The box subscription services are booming everywhere these days, be it food, beauty or any other sector. Such services providers are ready to deliver goods and services right at your doorstep. These services are developed skillfully based on the tastes and preferences of the customers. Finding a unique product category which is not yet discovered by the box subscription industry can make you have a lucrative business in your hands easily.


INTERNET OF THINGS


The internet of things is basically a framework of physical objects including devices, vehicles, buildings etc which is embedded with electronics, software, sensors and connectivity which enables the objects to collect, share and exchange the data. These devices are provided with unique identifiers which can easily transmit the information from one device to another. From baby monitoring devices to Health Care and Security, these innovative IoT startups have revolutionized the entire concept of this technology. It is relatively safe and there is very less probability of facing any serious loss or damage because of your smart meter or your home PC etc.


HEALTH CARE CONSULTANCY


Healthcare consultancy is one of the greatest services mushrooming in every nook and corner of the world. The healthcare service industry will continue to grow, expand and change in the near future. As an independent health care consultant, you can offer data analysis or management services for big organizations like hospitals, path labs, and offices to execute health care solutions in order to improve efficiency and enhance the concept of cost-effectiveness.


FREELANCING


To bridge the gap among the staff, companies are increasingly resorting to freelancers for the fulfillment of their services. The freelancing services are surging substantially these days. You can build a big company by yourself and start a freelancing service of any type. Freelancing services are mainly related to data services, academic writing, data processing or web related work. The rates of freelancing work vary greatly. Some freelancers get paid on per hour basis whereas some are paid weekly or monthly basis depending upon the nature of the work. As you gain more experience, you can certainly gain the potential to make more and more money.


TRANSLATION SERVICES


Today, the emerging globalization has changed the concept of science and technology and has broken all the shackles of technology which was once confined only to the developed countries. Undisputably, the global marketplace is increasing and expanding beyond the borders of China and Mexico which calls for the hiring of interpreters and translators. There is a big business opportunity for independent entrepreneurs who can bring foreign language speakers together with businesses in need. This industry is quoted as a top industry to start a business in this article.


The Bottom Line: There is no doubt that being an entrepreneur can reap high profits and it comes with a sense of independence, responsibility, novelty and empowerment to beat the odds all by oneself. Entrepreneurship can be a great instrument of self-actualization and expression which can help the people to work to their full potential. All the aforementioned startups are great for the year 2016 and can be opted by the ones who are planning to have their own business.

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