Startup Emerging Business Models
Many new Startup Emerging Business Models provide a huge entrepreneurial opportunities.
Technology as a pivot is driving host of new business models. Many of them are a combination of product and service. Further, these models do not require huge capital investments and have offered opportunities to individuals who were dreaming to become entrepreneurs. They are creating wealth and much needed employment in society.
They are also called disruptive business models as they have completely changed the customer experiences and in the process wiped out existing business models. The skills required to run these businesses have also created new models of learning.
Innovation, both incremental and radical,is happening in this new technology world. These new business models are attracting venture capital funding.
A few interesting emerging business models are discussed below...
Startup Emerging Business Models-Service
1.Aggregation Model
Digital Technology. a Web- based or installed application that aggregates related, frequently updated content from various Internetsources and consolidates it in one place for viewing:
What is aggregators Model ?
They aggregate the supply side of customers’ requirements all at one place. This model offers customers options to compare the features of various offers and make an appropriate choice.
Smart phones and affordable high speed internet has created aggregate business models in the area of travel, transportation, food delivery etc.It makes it easier for the customer to decide.
A few Examples-
i.Fixing Doctors’ appointments:
Practo.com, bookmydoctor.in,quikwell.com, docpulse.com etc.
Ii Taxi Services- & Share a ride
Uber & Ola
III. Food delivery
JustEat.in, FoodPanda.in, DeliveryChef.in and Tasty-Khana.in,
Startup Emerging Business Models- Product
2. Wearables
Wearable technology (also called wearable gadgets) is a category of technology devices that can be worn by a consumer and often include tracking information related to health and fitness. Other wearable tech gadgets include devices that have small motion sensors to take photos and sync with your mobile devices.- Vangie Beal
WT (Wearable Technologies) is the pioneer and worldwide leading innovation and market development platform for technologies worn close to the body, on the body or even in the body.
The wearables industry is creating a storm in computing beyond smartphones and tablets. The startups in this space aiming at large industries like apparel, health care and fitness. This space has attracted investment close to $ 2 billion over the past two years disrupting Fitness, Apparel and health care industries. Games are being developed for wearables.
Forerunner920 XT by Gramin, TICKR Heart Rate Monitor by Wahoo Fitness, Magellan Echo Fit Sports Watch
3D Printing
Source of Image:store.makerbot.com
3D printing or additive manufacturing is a process of making three dimensional solid objects from a digital file. The creation of a 3D printed object is achieved using additive processes. In an additive process, an object is created by laying down successive layers of material until the entire object is created. Each of these layers can be seen as a thinly sliced horizontal cross-section of the eventual object.- http://3dprinting.com/what-is-3d-printing/
This technology has changed the paradigm of mass customization resulting in reducing the cost of production. Individual custom made pieces can be produced especially in the areas of fashion jewelry.
Supply Chain costs have been drastically reduced as production is close to the consumption. The falling costs of 3 D printer will encourage many to set up businesses.
Businesses with 3D Printing Technology
Aircraft parts, Architectural Design, Dental industry, Custom Built automobiles etc
In saving life 3D Printed organs is a boon and it is an emerging area of interest.
Startup Emerging Business Models- Software
4. APP (Application Industry)
App is an abbreviated form of the word "application." An application is a software program that's designed to perform a specific function directly for the user or, in some cases, for another application program.
A self-contained program or piece of software designed to fulfil a particular purpose; an application, especially as downloaded by a user to a mobile device.
"apparently there are these new apps that will actually read your emails to you"
APP MARKET TO DOUBLE IN SIZE IN 2 YEARS!( Dazeninfo.com)
With increase in smartphone market the app market has been growing at a very fast rate. Currently app economy is being fed by the increase in smartphone user base, but in coming times it will be fed by the increasing number of business users using their devices for official purposes. The app market is expected to grow by around 27% up to 2016, with business and productivity categories contributing around $58 billion. The total app market is estimated to be $85 billion.
Startup Emerging Business Models- Product & Services
5. Health & Wellness Sector
This is based on the well-known proverb prevention is better than cure.
Technology is helping in continuously monitoring health parameters and take quick corrective action
One such example is Continuous Glucose Monitoring System (CGMS)
An implant in the body helps to track the blood sugar levels 24X7. This can help to regulate the food intake and avoid foods that increase blood sugar. The sensors can be connected to mobile phones to get the reading.
i. Fitness apps for Android smart phones like C25K COUCH5K, Endomondo, Calorie Counter, Google Fit, Ingress et. helps you to track various parameters like distance, calories, heart rate etc.
Startup Emerging Business Models- Conclusion
The emergence of so many game changing technologies offers a tremendous scope for a startup. Intellectual capital gets rich rewards with these new business models.
This is only the tip of an iceberg.
