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Planning on starting up in 2017? From big data to the sharing economy, new buzzwords and business practices are taking the entrepreneurship scene by storm. Read on to discover seven of the most disruptive trends that you need to stay on top of, if your business is to stand a chance of making it through the year…
1. In 2017, fintech, cloud and mobile won’t get dethroned just yet.
Accenture expects the fintech market to rise up to US$8 billion by 2018. With companies like Funding Circle and TransferWise changing how financial services are delivered globally, and total investments accumulating, fintech will continue to be the toast of the town in 2017, closely followed by cloud software (expected to grow to US$76 billion by 2017), and mobile, which has attracted over US$1.9 billion in funding over the past five years.
2. 2017 will be the year you join the ‘sharing economy’.
“On the internet”, reports The Economist, “everything is for hire”. From your holiday accommodation to your ride, thanks to the rise of digital and services like Airbnb and uberPOOL, sharing with others is an increasingly popular option. Peer-to-peer lending is also growing, as consumers reject hyper-consumption in favor of socially responsible and environmentally friendly investments.
3. 2017 will see a sharp rise in ‘blind hiring’.
Companies struggle to find motivated and productive skilled talent – and the unshakeable sway of gender, racial and class bias on recruiters isn’t doing businesses any favors. To resolve this problem, many startups are relying on ‘blind hiring’ to recruit the best talent. Using services like GapJumpers, companies assess candidates based on their skills and sample projects rather than their education, gender, ethnicity or nationality (which are not revealed in their application). Shortlisted candidates are interviewed anonymously using chat rooms or voice-masking technology!
5. 2017 will see big data colonize every area of business.
Thanks to a huge increase in the sheer amount of information shared globally, and the development of new tools to analyze and store data, big data has become an incredibly exciting and relevant field for startups. Whether you’re looking to improve your customer service, automate and personalize your marketing and advertising to grow your e-commerce, or actually want to launch your very own algorithm app, 2017 will be the year you get to grips with big data and automation to cater to your customer needs.
6. 2017 will see food tech startups continue to multiply.
There’s a growing need for entrepreneurs to come in and develop viable, sustainable food options to resolve supply shortage challenges and limit the environmental damage caused by the food industry. From indoor LED farms which reduce water waste to fish-farming tanks that recycle fish waste into fertilizer, new food tech startups promise to change the way we feed ourselves.
7. In 2017, clean tech will continue to thrive.
As investment in clean tech startups increases, with over US$2.1 billion already invested since 1999 in 215 projects, green entrepreneurs are getting ready to change the world – with solutions for energy storage, renewable energy, bio products and more. According to WWF, investment in clean tech will rise to up to US$500 billion by 2020. So, why not cut your teeth on ethical entrepreneurship and help combat climate change?
90% of startups fail.
Make sure yours doesn’t. With semesters at emlyon business school’s Lyon-Ecully campus in France, Zhejiang University’s School of Management in Hangzhou, China and Pace University’s Lubin School of Business in New York City, the Global Entrepreneurship Program (MSc in – 12-month minimum full time) will prepare you for all the challenges ahead. You’ll explore the key trends and innovations shaping global markets today, gain hands-on experience of the skills needed for start-up success or business development, and join an international network of fellow entrepreneurs.
Discover program graduate success stories and expert articles on entrepreneurship & innovation on the program’s blog.
