You have probably heard the terms startups a lot, startups are relatively young companies that are founded by a single person or a group of people. Startups initially focus on providing a specific type of service which could be later expanded into multiple services. People usually start small with initial donations from their families, friends, or local small scale investors. It can be said that startups are companies that are in their early stages of the development cycle.
Why are Startups Important?
One might ask about the importance of startups, what do they have to provide to their user base and the common people? The answer to this question is very simple, startups provide jobs to the common people and play a significant role in the economy. Startups can also bring competition and innovation to the once considered mature industry. And could also transform the city which they decide to base their operations in. There are a ton of examples of startups out there that revolutionized the industry and changed our way of life completely. Following are examples of some popular companies which started as startups:
As you can see startups have the ability to change the world as we know it and we have seen practical examples of it. Facebook was founded by Mark Zuckerberg as an internal site for social networking for Harvard and look at now.
Innovative 2020 Startups
Like each year 2020 has been the start of much new and betterment of innovative startups that have taken the world by storm. Following is a list of startups from this year to keep an eye on.
As the general population grows day by day, people are moving into bigger cities more than ever before. This has created many problems among which traffic congestion is at the top among others. One of the reasons why there is so much congestion on the roads is that people often tend to illegally or at stops which disrupts the flow of traffic. This happens because there are no parking lots available to park or they are too costly.
AirGarage full-stack parking operator, a peer-to-peer network for driveway owners to connect with people who need a parking space. These owners provide their parking space to people on demand and get a monetary incentive back. AirGarage received a funding of around $2m.
Snowflake is a software as a service (Saas) which provides cloud-based data services to their users. Snowflake offers services like data analytics and data storage services which are generally known as data warehouse-as-a-service. Allowing users to store and analyze data using both software and hardware-based cloud systems. The company received $26m before the announcement and $45m after the company was announced. Snowflakes advanced data exchange allows its customers to discover, exchange, and share data more securely. The company was founded in 2012 but has been on the rise ever since.
AllBirds is an eco-friendly shoe startup company based in California, USA. They provide their customers with comfortable and environmentally friendly products. The company was originally founded by the Vice-Captain of the New Zealand football team. He had the experience of working as a leather shoemaker and then got a research grant from the New Zealand wool industry to engineer a sneaker. The idea was launched on Kickstarter and raised $119,000 in the first five days; the company raised $7.25m from investors. The company launched its first product in 2014.
Everyone knows how difficult it is to survey a handful of people and having an automated response collector would make life much easier. Well think of it no more, SurveyAuto is a response collector that is based on machine learning, geolocation, call record, and hyperspectral imagery. Machine learning is used to decide where data is collected, when, how, and how often the data is reported. This automation reduces human errors along with the cost associated with it. Recently SurveyAuto has received an unknown amount of funding from Bill and Melinda Gates Foundation.
Everyone likes fast food but sometimes we want to fine dine, but the wait associated with it is tortuous. How convenient would it be if you could order beforehand and when you get there your food is ready and waiting for you? Well now it is possible, Snackpass allows its users to place their orders way ahead of time so that they do not have to wait for a minute. It is even better than a drive-through. Snackpass also supports the suppliers as placing an order deducts money from the users’ accounts. Hence the suppliers are not left empty-handed if the user does not show up. Snackpass received a funding of $23.1m recently.
Securitize is a blockchain technology-based platform that allows its users to trade in private organizations. The use of blockchain technology allows the platform to reduce trading costs, saves time, and offers a higher quality experience for users. Securitize is associated with many US markets hence removing the fear of losing one’s earning. Recently the company received an investment of around $26m, the company aims to become one of the biggest US markets for trading.
Healthcare startups have always fascinated people of all ages as they enable the use of new and improved technology for the better of our daily lives. Recently the air we breathe is becoming more and more polluted and is proving to cause more respiratory problems than ever. NuvoAir provides an ecosystem that can be used to track one’s respiratory health. NuvoAir has allowed people to improve their condition by keeping an eye on their routine breathing patterns. If anything is out of order the app would alert the user, give more insight to the problem, and would alert the doctor as well. NuvoAir has received an investment of $2.5m.
Cryptocurrencies are recently becoming the new norm, but they do not have a safe and regulated method of payment, except for a few well-known ones. Eligma allows its users to perform seamless and secure crypto transactions. To maintain communication standards and for security purposes, they use blockchain technology for payment networks. The startup has been behind the latest Bitcoin City project by Slovenia. Eligma received over $10 million in its public crowd sale in 2018 and 4 million EUR from Bitcoin.com and Pangea Blockchain Fund in 2019.”
The agriculture industry has been waiting for quite a while for its digital revolution which would help farmers and agriculture companies. xFarm provides innovative solutions to farmers, stakeholders, and supply chains with the use of an application for both desktop and mobile. Analytics for professionals and a wide range of IoT sensors that provide precision farming. xFarm was founded by a group of farmers and they received a €3m investment from TiVenture.