8+ Innovative Technology Startups
Explore different categories of technology startups based on industry and a lot more!
The word startup has been misinterpreted as a small business for a long period. But, the misconception remained due to the understanding gap. In reality, there is a huge conceptual and organizational difference between a small business, MNC, or a large corporation, and a startup. A startup is just another mode of doing business.
In principle, the startup guru Steve Blank has explained startup as a temporary organization designed to search for a repeatable and scalable business model. And this definition of a startup is on point with the concept.
The biggest move in the startup industry is the advent of technology that birthed technology startups. Technology startups are the future of the world, and you will have to experience technology in each and every field of life.
These are the startups that take the aid of technological advancement for creating sustainable solutions for different industries. The other common name used for technology startups is a tech startup. Let’s find out the categories of startups based on industries.
Technology Startups: 8+ Innovative Categories
Among the categories of startups, Fintech startups are considered a highlighted type of technology startups. With globalization and a complicated business environment, entrepreneurs are striving to find sustainable and reliable financial solutions. Fintech startups are just the realized picture of this concept.
Financial technology is the chain of innovations and technological advancements to smoothen the financial system, replace the traditional financial channels with more quick and reliable alternatives, and a lot more. If we deeply look at the segregation of different FinTech solutions, we can find out the sub-categories within this regime.
Some of the most common types of Fintech startups include Ewallets, Insurance solutions, consumer banking, personal and equity financing, lending, borrowing, and many more. To sum up, this category of startups includes any solution built on technology within the financial services regime.
Health Tech startups
Technology has facilitated every field of life, and the health sector is no exception. Like any other field of life, health, and care delivery are some of the main concerns globally. Better and timely health services are also one of the sustainable development goals defined by the United Nations Organization(UNO)
The health Tech startups are based on facilitating the health and care sector with the aid of technology. These startups develop solutions by employing the latest technologies, artificial intelligence, and the internet of things(IoT).
The further categories of startups in the health industry can be either solution for hospital management or biotechnology solutions. Numerous health tech startups around the world are continuously striving to create a difference.
You may be interested in: Top Health Startups.
Ed Tech startups
The learning systems and education mechanism has been evolving for decades. For instance, the model of teaching has been shifted from manual to automation a decade ago. But after the pandemic of COVID-19, the way the global education system has suffered is incomparable. Thanks to technology and the Ed-tech startups that are continuously striving to facilitate global education.
Just because of some amazing solutions like Zoom, institutions worldwide were able to deliver uninterrupted education to the students. Google.Inc also stepped in to facilitate the education system by introducing ‘Meet Now.’ Several other solutions have proved to be an aid for students and teachers.
The Ed-tech startups are also among technology startups aimed at facilitating the education system and learning process. In other words, we can say that these are software and technological solutions dedicatedly designed to enhance teacher-led learning in the classrooms and help to get better learning outcomes.
Travel Technology Startups
In the era of modernization, the world advanced with the businesses. It will not be wrong to regard it as the expansion of businesses and horizons for the world. With the business, people explored new regions that were not known to them before. To cut it short, to make traveling convenient, technology startups have stepped in.
It is either a shift from the manual booking of tickets to the online reservation, trip planner apps, GPS, hotel reservations, or destination review apps. All of this has been possible due to the collaboration of the travel industry with technology. The domain of travel technology startups is vast. We all know about Uber and other vehicle booking apps, which are examples of these startups.
With the advent of machine learning, big data, and cloud technology startups, businesses are investing more and more to maintain their security and data integrity. As technology has advanced, the risks of cyber attacks have also increased proportionally. Hiring an IT team and developing complex security solutions is the necessity of any business in this environment.
The cybersecurity startups are venturing to develop sustainable, economical, and foolproof solutions for businesses to maintain their data integrity and cybersecurity. The further categories of technology startups within the cybersecurity regime can be made according to types of cybersecurity.
There are basically five types of cybersecurity. It includes
- Infrastructure security(like water purification, electricity grid, traffic lights)
- Application security( antivirus, firewalls, encryptions)
- Network security(passwords, login details, application integration, and security)
- Cloud security( data integrity, securing cloud data, preventing intrusions)
- Internet of Things, IoT security(routers, Wi-fi, sensors, Televisions, and security cameras)
HR and Recruit Tech startups
Human resources are one of the key resources of any business organization. Managing human capital is a whole different level. Before technology, many companies would outsource their HR functions, and only key functions were self-managed.
The next one among categories of technology startups is HR and Recruit Tech startups. HR functions, like recruiting, staffing, training, appraisal, compensation, and benefits that were managed by external parties, can be managed within one comprehensive solution. All of this has become possible only due to the collaboration of technology with HR specialists.
The HR tech startups have developed so many solutions that the HR function for SMEs and new businesses has become a simpler and cost-effective job.
Legal Tech Startups
Either signing a business contract, finding a lawyer for a lawsuit, or filing a case, people always avoided visiting the courts, lawyers’ offices, and it took a lot of time too. Legal tech startups are created by the advent of technology in the legal processes.
The categories of technology startups within the legal and law industry are, contract and legal documentation, corporate communications, analytics, compliance, office management, litigation, and evidence management.
Technology has facilitated all departments within the law industry by creating solutions and apps that help the speedy workflow of legal processes and fewer complications.
Marketing Technology Startups
Marketing tech startups are the most enticing and exciting technology startups, at least to me. What to say about marketing! Marketing was important for any business before technology, and it is even more important in the digital space.
And to be very honest, the existence of businesses in the online space is positively correlated to the marketing efforts. And to survive in the digital space, automated marketing solutions are inevitable. Either it is lead generation, lead nurturing, SEO, SEM, or conventional marketing, the marketing tech startups have conquered the business community with their IT-based marketing solutions.
Energy Tech Startups
The energy sector has evolved a lot due to innovations and renewable energies. Technology startups have craved their ways to the energy sector to facilitate humanity. Energy tech startups are all those businesses that are working to develop sustainable energy solutions for fulfilling the global energy needs without compromising the budget limits. Renewable energies and solar energy were also the results of energy-tech startups.
Ecommerce and Technology Startups
Ecommerce startups are those technology startups that launch their products in the digital space. Amazon, eBay, and Alibaba were eCommerce startups, and they have now become industry giants. But, the eCommerce startups are not just setting up the online retail store for trading products.
The eCommerce industry has given birth to many other sub-industries. For example, mobile commerce, internet marketing, automated data collection systems, and eWallets, online payment methods, result from the eCommerce industry.
Technology startups have contributed a lot to the agricultural sector by bringing in innovative solutions for farming, pest controls, soil fertility, and irrigation. These Agri tech startups are the businesses that employ different technologies, modern methods, and biotechnology to increase farming output, better pest controls, soil fertility, better seeds, and irrigation plans.
There are hundreds of startups working to innovate the agricultural system and ways of farming by new innovations in the field of agricultural technology.
Food Tech Startups
Food technology is an important field of the food sciences, and a lot of work is being done on it. Food technology deals with food production, preservation, quality assurance, research, and development to improve food processing methods. Food tech startups are those built on the vision of improving food technology and giving a better quality of food at a low cost.
To summarize, food tech startups belong to the category of technology startups that cover all the businesses within the chain of innovatory products from production to food distribution and marketing.
Real Estate Tech startups
Either buying a house, selling it, renting or maintenance, what panic and the hectic thing it is! The process of real estate dealing has always been a very time taking and hectic activity. Meeting with dealers and agents, looking for tenants, negotiating, and closing the deals are just name a few things.
Thanks to our business community and entrepreneurs who thought to bring ease to the real estate industry. They have been striving to create solutions to facilitate real estate agents, homeowners, and buyers too. By using machine learning, artificial intelligence, and big data, there are many online portals where homeowners can list their properties.
The rates are automatically created according to the locations. Similarly, property seekers can look for houses in their desired locations at the desired rate.