Have you heard about The Great Resignation, aka the Big Quit? If you live in the United States, you probably know what I’m talking about. Coined by Anthony Klotz in 2021, a professor of management at Mays Business School at Texas A&M University, this phenomenon describes the growing trend in which employees resign from their jobs, primarily in the US.
Many specialists attribute it to the COVID-19 pandemic and the fact that the American government failed to provide necessary worker protection. Do include wage stagnation and a rising cost of living in the equation, and you get the picture. On the bright side, statistics reveal massive startup scene growth. For instance, a whopping 1.4 million Americans filed applications to start their businesses in September 2021 alone, according to an analysis of Census data by the Economic Innovation Group (EIG).
Naturally, the “quit-your-job” trend is being closely watched by investors. In 2021, global venture capital investments, including corporations and corporate funds, have broken a historical record as the volume amounted to $268.7 billion, according to Reuters. The prime deals are associated with various software, e-commerce, digital health, and financial technology companies, whose products and services were in high demand during the pandemic.
In regards to all these numbers, it’s high time to check the global startup trends that will shape the scene in 2022. I suggest considering these six directions below if you're thinking of starting a company this year. Let’s go!
Recruitment agencies
If you haven’t skipped the first paragraph, it’s not rocket science to guess the first trend. In 2021, businesses reported a catastrophic staff shortage, and HR departments have difficulties finding personnel for many positions.
Well, business is where you find it. It would be fair to predict that the search and employment of people is a promising direction for starting a business in 2022. Just take a look at the phenomenal growth of Human Bees, a staffing firm. According to Inc, the company topped the ranking of the fastest-growing companies in 2021 and has plans to expand further.
2022 seems like a perfect year to start your own recruitment agency. If you’re interested in dipping your toes in this field, I recommend visiting this online event by Eventbrite.
Medical services
It’s impossible to ignore the pandemic nowadays, and market stats just prove it. Take a look at the US-based Carbon Health, the company that provides testing to identify COVID-19. However, that’s not the sole area of their business. The company also provides rehabilitation services after recovering from the coronavirus and helps clients to be treated at home. Overall, Carbon Health is engaged in any kind of medical care in general (and with no expensive insurance premiums, by the way). No wonder this business grew significantly over the past year.
The issue of vaccination and the invention of a cure for threatening COVID and other diseases are the main reasons for the growing attention towards companies in the fields of pharma and biotech. The urgent need to obtain medicine has led to the attraction of investments by startups in their early stages (which is generally uncharacteristic for this market). For instance, Sana Biotechnology, a cell and gene therapy developer managed by ex-Juno Therapeutics executives, raised $588 million in an initial public offering.
Cybersecurity
The trend towards strengthening cybersecurity measures won’t lose its relevance any time soon. Again, the COVID-19 pandemic took its toll: in 2021, cybercrime grew by an astonishing 600%.
Those numbers are pretty understandable, though. The transition to an online mode of work, an increase in the number of online services, and the general global digitalization of businesses contribute to the growing demand for improved security measures. Here’s the top 10 cybersecurity startups chart by Esecurityplanet:
This way, cyber security services against various types of threats such as network intrusions, ransomware viruses, and data theft will become one of the hottest trends in 2022. Long-term directions in the field of information security include:
- extended detection and response to threats;
- Secure Access Service Edge;
- processes for ensuring protection against attacks on supply chains.
NFT tokens
Looking back at early 2021, I vividly remember that NTF tokens craze taking over social media and news. The year has passed since its beginnings, but it seems like this cryptoart expansion won’t slow down in 2022 either. All in all, NTF has all the potential to become the main blockchain trend this year.
If you’re new to NFT, it is a technology that allows you to digitize the interaction with any virtual and physical goods. A non-fungible token acts as a certificate of the uniqueness of a digital object, confirming the right to own it. NFT can be released for virtual values (pictures, gifs, audio recording, or, say, a character in a video game), as well as material (stocks, real estate, works of art).
Tokens are radically changing the system of assigning and managing ownership of an object. Feeling its potential, venture capitalists are actively funding NFT startups. For instance, investors poured $90 million into companies producing NFT and digital collectibles last year.
Real Estate
Real estate is a conservative industry, one of the slowest domains to adopt new technology, in fact. This basically means that tech-savvy startups have more chances to succeed in modern digital-driven times. For instance, Brendan Wallace, co-founder at investment firm Fifth Wall, describes the current year as "a year of enormous secular growth in real estate and proptech".
If you feel you can develop new business models and reinvent the entire customer experience with tech, give it a try. You might be interested in checking out these 20 promising startups in this field.
Green technologies
As they say, green is the color. Industry professionals indicate the growing interest in waste recycling and disposal, energy-saving technologies, decarbonization of industry, production of goods from natural materials, biofuels, electric vehicles, water purification, and solar panels.
Zero waste isn’t just a trendy thing to do - it’s the new way of living, the new normal, so to speak. In 2022, startups will continue to enter this domain because the interest from both consumers and investors doesn't seem to fade away. According to analysts from Allied Market Research, the global market for environmentally friendly solutions will grow by 24.3% annually and will reach $43.48 billion by 2030.
Interested in going green? Check out some top picks for the best GreenTech startups.
To sum up
When choosing the right idea for a startup, it makes perfect sense to familiarize yourself with all the recent trends in the market. However, it is even more important to evaluate them at a macro scale. Although it’s hard to predict things, make sure to choose the idea that has more chances to keep its relevance in the long run.
By the way...Do you have a startup idea? If you do, you might have wondered what first steps you should take to move forward. Here at Akveo, being a former startup ourselves, we know this feeling. It would be awesome if the process were unchallenging, but it’s not. I want to make it a bit easier. Here’s the collection of insights to help early-stage companies have a quick start and grow. This startup guide is for entrepreneurs looking to start a company and those in the process of building one.
So without further ado, download the interactive startup pack with advice from founders, downloadable tools, tips, templates, and helpful media resources. The guide answers the following questions:
- How can I accelerate my growth?
- What tools can help me reach my goals?
- What are the current startup trends?
- Do I need a co-founder?
- What mistakes should I avoid?
- What media should I follow?
Although most of the ideas are born out of… well, other ideas, it is important not to simply copy the product, but to improve it and provide consumers with the better option. Identify shortcomings, analyze what can be added to the existing solution: introduce additional functionality, improve the quality of service, use new distribution channels, and so on. Don’t reinvent the wheel: study the key needs of your client, it’s the key point when starting out.
Have a brilliant startup idea? Here’s how Akveo can help.
We provide custom software development services to startups from various industries. As your trusted technological partner, we will deliver everything from an MVP to a full-fledged software product on time and budget. As this article states, the global startup scene is vibrant and full of beautiful ideas, and we believe that ideas rule the world. That is why we care to translate your vision into a scalable and feature-rich solution. Contact us today!
Lead Generation Tool to Reduce Manual Work
Our client, Afore Capital, a venture capital firm focused on pre-seed investments, aimed to automate their lead generation processes but struggled with existing out-of-the-box solutions. To tackle this challenge, they sought assistance from our team of Akveo Retool experts.
The scope of work
The client needed a tailored solution to log and track inbound deals effectively. They required an application that could facilitate the addition, viewing, and editing of company and founder information, ensuring data integrity and preventing duplicates. Additionally, Afore Capital aimed to integrate external tools like PhantomBuster and LinkedIn to streamline data collection.
The result
By developing a custom Retool application, we streamlined the lead generation process, significantly reducing manual data entry. The application enabled employees to manage inbound deals efficiently while automated workflows for email parsing, notifications, and dynamic reporting enhanced operational efficiency. This allowed Afore Capital's team to focus more on building relationships with potential founders rather than on administrative tasks.
Learn more about the case
Retool CMS Application for EdTech Startup
Our client, CutTime, a leading fine arts education management platform, needed a scalable CMS application to improve vendor product management and user experience.
The scope of work
We developed a Retool application that allows vendors to easily upload and manage product listings, handle inventory, and set shipping options. The challenge was to integrate the app with the client’s system, enabling smooth authentication and product management for program directors.
The result
Our solution streamlined product management, reducing manual work for vendors, and significantly improving operational efficiency.
Building Reconciliation Tool for e-commerce company
Our client was in need of streamlining and simplifying its monthly accounting reconciliation process – preferably automatically. But with a lack of time and low budget for a custom build, development of a comprehensive software wasn’t in the picture. After going through the case and customer’s needs, we decided to implement Retool. And that was the right choice.
The scope of work
Our team developed a custom reconciliation tool designed specifically for the needs of high-volume transaction environments. It automated the processes and provided a comprehensive dashboard for monitoring discrepancies and anomalies in real-time.
The implementation of Retool significantly reduced manual effort, as well as fostered a more efficient and time-saving reconciliation process.
Creating Retool Mobile App for a Wine Seller
A leading spirits and wine seller in Europe required the development of an internal mobile app for private client managers and administrators. The project was supposed to be done in 1,5 months. Considering urgency and the scope of work, our developers decided to use Retool for swift and effective development.
The scope of work
Our developers built a mobile application tailored to the needs of the company's sales force: with a comprehensive overview of client interactions, facilitated order processing, and enabled access to sales history and performance metrics. It was user-friendly, with real-time updates, seamlessly integrated with existing customer databases.
The result? Increase in productivity of the sales team and improved decision-making process. But most importantly, positive feedback from the customers themselves.
Developing PoC with Low Code for a Tour Operator
To efficiently gather, centralize, and manage data is a challenge for any tour operator. Our client was not an exception. The company was seeking to get an internal software that will source information from third-party APIs and automate the travel itinerary creation process. Preferably, cost- and user-friendly tool.
The scope of work
Our experts ensured the client that all the requirements could be covered by Retool. And just in 40 hours a new software was launched. The tool had a flexible and easy-to-use interface with user authentication and an access management system panel – all the company needed. At the end, Retool was considered the main tool to replace the existing system.
Testing New Generation of Lead Management Tool with Retool
Our client, a venture fund, had challenges with managing lead generation and client acquisition. As the company grew, it aimed to attract more clients and scale faster, as well as automate the processes to save time, improve efficiency and minimize human error. The idea was to craft an internal lead generation tool that will cover all the needs. We’ve agreed that Retool will be a perfect tool for this.
The scope of work
The project initially began as a proof of concept, but soon enough, with each new feature delivered, the company experienced increased engagement and value.
We developed a web tool that integrates seamlessly with Phantombuster for data extraction and LinkedIn for social outreach. Now, the company has a platform that elevates the efficiency of their lead generation activities and provides deep insights into potential client bases.
Building an Advanced Admin Portal for Streamlined Operations
Confronted with the need for more sophisticated internal tools, an owner of IP Licensing marketplace turned to Retool to utilize its administrative functions. The primary goal was to construct an advanced admin portal that could support complex, multi-layered processes efficiently.
The scope of work
Our client needed help with updating filters and tables for its internal platform. In just 30 hours we've been able to update and create about 6 pages. Following features were introduced: add complex filtering and search, delete records, styling application with custom CSS.
Together, we have increased performance on most heavy pages and fixed circular dependency issues.
Creating MVP Dashboard for Google Cloud Users
Facing the challenge of unoptimized cloud resource management, a technology firm working with Google Cloud users was looking for a solution to make its operations more efficient. The main idea of the project was to create an MVP for e-commerce shops to test some client hypotheses. Traditional cloud management tools fell short.
The scope of work
Determined to break through limitations, our team of developers turned Retool. We decided to craft an MVP Dashboard specifically for Google Cloud users. This wasn't just about bringing data into view; but about reshaping how teams interact with their cloud environment.
We designed a dashboard that turned complex cloud data into a clear, strategic asset thanks to comprehensive analytics, tailored metrics, and an intuitive interface, that Retool provides. As the results, an increase in operational efficiency, significant improvement in cost management and resource optimization.
Elevating CRM with Custom HubSpot Sales Dashboard
Our other client, a SaaS startup, that offers collaborative tools for design and engineering teams, was on a quest to supercharge their sales efforts. Traditional CRM systems were limited and not customizable enough. The company sought a solution that could tailor HubSpot to their workflow and analytics needs.
The scope of work
Charged with the task of going beyond standard CRM functions, our team turned to Retool. We wanted to redefine how sales teams interact with their CRM.
By integrating advanced analytics, custom metrics, and a user-friendly interface, our developers provided a solution that transformed data into a strategic asset.
In 40 hours, three informative dashboards were developed, containing the most sensitive data related to sales activities. These dashboards enable our customer to analyze sales and lead generation performance from a different perspective and establish the appropriate KPIs.
Building a PDF Editor with Low-Code
Our client, a leading digital credential IT startup, needed a lot of internal processes to be optimized. But the experience with low-code tools wasn’t sufficient. That’s why the company decided to hire professionals. And our team of developers joined the project.
The scope of work
The client has a program that designs and prints custom badges for customers. The badges need to be “mail-merged” with a person’s info and turned into a PDF to print. But what is the best way to do it?
Our developers decided to use Retool as a core tool. Using custom components and JavaScript, we developed a program that reduced employees' time for designing, putting the data, verifying, and printing PDF badges in one application.
As a result, the new approach significantly reduces the time required by the internal team to organize all the necessary staff for the conference, including badge creation.
