4 Technology Trends That Will Impact the Growth of Startups

Technology trends are always changing. But here are four major trends that will definitely impact the growth of startups: IoT, Blockchain, Remote work, and Materials science. You can read the rest of the article to find out more about each one. In the meantime, here are some tips to boost your startup’s growth. All of these trends will have a profound impact on your business. If you are looking for some new ideas, consider these four technology trends.

Remote work

With the rise of the distributed workplace, companies of all sizes are adapting to this new way of working. Startups that start with this idea often focus on culture, flexibility, and employee well-being. These companies are also adopting new technologies, such as cloud-based collaboration and communication, to make this possible. Nearly all of the companies in SignalFire’s portfolio employ a large percentage of employees remotely, though they do maintain an office to coordinate with other members of the team.

While remote work is becoming more common, some companies have resisted the trend. In the past, a remote worker couldn’t receive messages from colleagues outside the office, send and receive emails, and even talk on the phone with the company’s management. To communicate with colleagues, remote workers needed to provide an alternate phone number or fax number. This type of arrangement was not feasible for many startups back then, and some still fear that their employees won’t be as productive as they might have been onsite.

IoT

In an increasingly connected world, traditional IT solutions are not sufficient. The rise of wearable technology has increased the number of smart wearable devices. These range from simple fitness trackers that monitor vital signs to implanted devices that can regulate the heart, pump insulin, or stimulate the brain. The smarter home concept will also benefit households with more users. This new technology is likely to change the way we live and work.

By leveraging customer data collected by the IoT, startups can better understand their target audience and segment their products based on their needs. For instance, an air conditioner company may find out that clients living in warm climates need more powerful air conditioners and suggest an air conditioning maintenance service package. By leveraging IoT technology to monitor a customer’s air conditioning system, salespeople can recommend a more powerful air conditioner or cross-sell a maintenance service package.

Blockchain

The emergence of distributed computer networks, such as blockchain, has made it possible to create a decentralized network that can track transaction histories. This decentralized network has the potential to revolutionize many industries, from finance to gaming and even cannabis. The distributed nature of blockchain technology makes it difficult for any one party to manipulate transactions. The decentralized system can reduce costs while tightening security. Blockchain is expected to be widely used in the metaverse, which is a virtual reality world where cryptocurrency and non-fungible tokens will be used to store value and make purchases. The global unicorn count is projected to rise from nine in 2020 to 47 in 2021, as Alibaba has already filed for a patent for a blockchain-based transaction system in Brazil.

As the adoption of blockchain technology continues to spread, banks are embracing it as a new way to conduct financial transactions. Banks have already taken steps toward digitalization and mobile banking, but have been hesitant to implement blockchain technology. However, the rise of the crypto market has increased the interest in blockchain among banks and other sectors. By taking advantage of blockchain technology, banks are leveraging their role as critical storehouses of value. In addition to enhancing information sharing, blockchains can also provide secure ledgers and infrastructure for financial services.

Materials science

While the field of materials science is still in its infancy, it is showing a wide range of applications in multiple market sectors, including renewable energy. One promising startup, Algaeing by Algalife, recently won VWS Pathfinder’s Pitch competition. The company has developed proprietary techniques for spinning sustainable bio-fibres and creating dyes using algae. These advancements could radically change the economics of the renewable energy industry.

Several trends are emerging in this field, including the rise of the metal additive manufacturing market. While the metal additive manufacturing market is expected to increase by over $10B in the next ten years, the current portfolio is costly and does not fully leverage the processes. There is room for disruption, especially as current players adapt. This article will examine several start-ups in the field of metal additive manufacturing. The companies in the space are advancing at different levels of technology readiness and have varying approaches. Regardless of the startup’s approach, it is important to understand that there are long-term market opportunities for these companies.

Automation

For small, compact startups, automation will be a game changer. It will free up human resources to focus on high-value tasks, enabling small teams to deliver consistent customer experiences. The benefits of automation go beyond saving time and money. With automation, startup overhead costs can be reduced, allowing new funds to be spent on hiring employees, research and development, and marketing campaigns. Automation also helps startups better understand their customers and competitors.

In addition to improving productivity, automation will increase employee loyalty, and will enable startups to meet their growth targets more efficiently. More startups will begin leveraging intelligent automation services in 2022. These services are available through cloud, SaaS, and per-use pricing models and require no upfront capital investment or increased headcount. The benefits of automated services are that startups can focus on their core human skills, such as innovation and product development. And, because automation can’t replicate human skills, it can help startups meet their growth targets faster.