Startups, startups, startups. As founders, we know that they are constantly evolving, and the same can be said for what startups are popular. As much as trying to keep up with what’s trending can be hard work, it can be hugely rewarding as it keeps us on our toes! Startup trends are important because they keep consumers engaged in startups and help investors know where to spend their money!
How does a trend start?
So, we know trends are essential in startup land, but how do they begin? Well, the process of a startup trend is actually very similar to the internet or social media trends. First, there is a breakout star, usually a company that creates a brand new category. Then there is speculation from investors who analyse whether the category can be multiplied and used by more than one business, for example, whether there is a big enough market. Finally, the hype begins! Other businesses start to feel the FOMO and jump on the bandwagon so they too can benefit from the trend.
Which trends are currently popular?
Year on year, startup trends constantly change to fit with the landscape of the world. 2020, for example, saw a huge increase in the popularity of online education platforms as people looked to learn new things from their homes and parents sought to keep their children occupied and learning during the lockdowns. In 2022, education platforms are still going strong. However, entrepreneurs are also looking at other startups that will prove to be just as successful. If you’re an entrepreneur looking to engage in trending startups, here’s what’s trending in 2022:
● Biotech startups
● Sustainability startups
● Ag tech startups - agricultural technology
● Mobile apps
Do you have to stick to a trend?
By setting up a trending startup, you are making the process of bringing in consumers much easier! These trends are often born out of consumer needs, and therefore responding to them can be hugely beneficial. Trending startups also show the problems the world is experiencing. For instance, we are currently living through an era in which climate change is at the forefront of many of our minds. As a result, sustainable startups are becoming increasingly popular as consumers look to find ways they can help the planet.
However, it is not always necessary to follow in the footsteps of trending startups. The most important part of creating a startup is the ability to solve a problem, and by following a trend sometimes that problem has already been solved. If all founders stick with a trend, the market can become overcrowded and then no one benefits.
Sometimes by actively not following a trend, you inadvertently create a new one! Therefore it could be argued that instead of thinking about what startups are trending, it is more important to look for a gap in the market and fill that gap with an innovative solution.