Startup + Innovative IT Approach = Popular and Profitable Business

The Internet was once a means of communication for just the elite. But technological progress is unstoppable and as the Internet expanded its user base and began to change, it then began to change us. Every year, startups spring up in every industry you can think of – from high-tech to fast food – and some of these startups go on to become a part of our life. Their success inspires developers who are interested in entering the market and helping make the average person’s life even more comfortable and secure. Nowadays, doing business online is unavoidable, and applications like Viber and Snapchat not only help us stay in contact with family members and colleagues, but they also shape collective opinion, set the tone for work, and simplify tasks both at the local and the global level. A good example of this is when a group of parents use an application. In an online group, the parents participate in discussions and find solutions to pressing issues. And they do it all without having to attend meetings or get together at a coffee shop. That’s a time-saver. And right now there are even large-scale “government in a smartphone” projects going on in Estonia and Finland and there’s another in the planning stages in Ukraine. These new developments testify to the remarkable ability of IT to affect every sphere of human life. There seems to be no limit to the possibilities.

IT Trends Today

Blockchain Technologies – Today they are reaching new levels, emerging from the “shadow” of cryptocurrencies, and ensuring the honest work of charitable foundations. Goodr stands out here – it’s a system which distributes food resources and sends surplus products to various charitable organizations. The startup budget was minimal, but through online promotion, the free application grew into a serious logistics company, and it now connects a large number of caring people and companies interested in charity (restaurants, airports, etc.).

Facial Recognition Technology is not only a convenient “feature” of Facebook (which was also a startup once), but an important aspect of security as well. It’s estimated that by 2022, the amount of fake information on the Internet will be equal in volume to the amount of real information. We will need technologies to verify the facts, including facts about ourselves.

The Ukrainian startup Viewdle developed recognition technologies for human faces and objects and became an expert in “computer vision.” In 2012, it was bought by Google for 30+ million dollars.

Artificial Intelligence is where recent technical developments are heading. Unique algorithms can change the world, and as the demand for automation and AI continues to grow, there are still not enough companies out there to do the work. This is in spite of the many successful startups and the significant investing in startups.

Thus, the popularity of chatbots and voice assistants for business grows annually, and in 2018 Microsoft acquired Semantic Machines, a startup which develops technology for effective and natural communication with robots. Having received 20.9 million dollars in investment in 2014, the company is today improving language interface technologies.

Thanks to the digitization of data, the Internet, and the large number of applications for communication, there is more and more information and it rushes like a bullet train. The user wants to keep up, and the developer is ready to help. Of course, not all ideas succeed, but the number of ideas that have made it to the development stage is truly inspiring.

For example, applications for quick language learning, such as Fluent Forever, are developing. It helps the learner get used to the language as quickly as possible and to start understanding it. Only later does it teach grammar and speaking. The developer, Gabriel Wiener, published a book about his language-learning method, and decided to launch a startup with the help of Kickstarter. At the time, it was the most successful Kickstarter in the site’s history and raised $400,000 in 16 days.

Augmented reality technologies not only help create a special simulation environment for games, travel, and practice, but they also provide psychological rehabilitation for those recovering from surgery.

One successful startup was Doppler Labs, which received a $50 million investment and then went on to earn more than $100 million in profit. The company developed Here One smart headphones: the product was a mini-computer, recognizing information (for example, listening to live comments during a game at the stadium), adjusting the noise level (to help the user fall asleep more quickly, or to hear a friend better), and, in general, creating one’s own augmented sound reality. Now the idea lives on in Apple’s AirPods and other Bluetooth headphones.

As you can see, IT is everywhere. It’s no longer exclusively the domain of IT professionals and corporate expansion. And technology startups make the work of IT specialists as useful and customer-oriented as possible. This is how startups become popular and bring their developers recognition and millions of dollars in profit.

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Startup + Innovative IT Approach = Popular and Profitable Business

1 Comment

  • Startup ideas: 7 unusual examples from MindArts |
    Jul 03, 2020 - 14:37 pm

    […] and more and more people take an interest in small investment business as a form of passive income. Ideas for startups are diverse and entertaining, but a lot depends on the project implementers too. So, getting […]