2015 was the year of food tech startups. In this year we have seen many food tech startup coming up, attracting the investors eye and establishing their footprint in the startup world.
As this year is coming to an end, now we have to see that what 2016 holds for the startup world, which all sector will rise and shine in the upcoming year.
Entrepreneur India for its readers has penned down top 5 sectors which holds promising future in 2016.
1. Internet of Things (IoT)
With Internet and smartphones penetration, IoT will become too big giving power in hands of consumers to control the things they use in daily life. In turn it will empower manufacturers to design and customize the things as per user behaviour and habits. Moreover, it will not only improve the efficiencies and better utilization of resources but also enable the individuals and companies to optimize the things which in turn will result in huge savings.
2. Big Data
The big data is still utilised at mass scale and currently used by few big firms and companies only. The future lies in increasing productivity and competitiveness along with increasing ROI on every dollar spent. To achieve the above big data will play major role. This tool is still under-utilized and lot of potential lies in it to increase the ROI and productivity.
3. FinTech (Financial Technologies)
In coming the time, we will see lots of disruption in the financial world. Crypto currency/ Bitcoin will become preferred currency in next 5-10 years. Till date banking is still done in old fashioned way, accept that they had adopted computerization. Credit cards will be replaced by online wallets, banks will become virtual with minimum interference of humans. People will get the power of financing / crowd financing the borrowers directly without having banks as intermediaries.
4. Virtual Reality / Augmented Reality
After mobile tech, IoT and Ad Tech what do you think is next to woo the customers? I personally believe its VR/ AR. VR will replace the web catalogues, powerpoint presentation and videos to large extent giving the user advantage of experiencing the things in 3D and real-life format without any distractions. It will be next thing in publishing.
5. Health Tech (Health Technologies)
With increasing Internet and samartphone penetration, health tech or health technologies sector is growing at a rapid pace and the major growth driver of this sector is consumerization of MedTech. Moreover the emerging trend of wearable technologies is spreading throughout the market as it provides consumers and providers to reach each other at lower cost in minimum time.
(With inputs from Neeraj Kumar Singal, Director, Semco Group; Vikram Upadhyaya, Chief Mentor & Accelerator Evangelist, GHV Accelerator; Avinash Raghava, Fellow, iSPIRT Foundation & ProductNation.in and Gaurav Vohra, CEO, Jigsaw academy)