Five ideas to shake off recovery blues

Covid-19 accelerated the growth of some nascent industries, and opened up new niches in which quick-thinking founders could start and grow successful businesses, the report says.

Virtual Reality Workplace Training

Virtual reality (VR) and augmented reality (AR) tools were already on their way to being integrated into the workplace when the Covid-19 pandemic accelerated their adoption.

Startups are now developing simulations to train workers in a range of hard and soft skills, from installing solar panels and fielding customer service complaints to identifying workplace bias and leading with empathy.

VR promises to train more people in less time than in-person or online training. Simulations let learners practice scenarios that would be difficult or dangerous to replicate in real life--and the data they collect can give employers a clearer view of workers' progress.

Direct-to-Consumer Home Improvement

If the original direct to consumer (DTC) homegoods companies targeted urban apartment dwellers,

In periods of dramatic change, entrepreneurship thrives, says US-based INC’s annual Best Industries report

selling mattresses, furniture, and houseplants, the next wave is moving to the suburbs. People are resettling outside cities and embracing DTC brands for their home-improvement projects instead of shopping at retail giants.

Younger consumers, in particular. are gravitating toward more personalised brands with the aesthetics and convenience they are used to.

Patient-Monitoring Tools

The demand for remote health care services during the pandemic has been a proving ground for the telehealth industry. Remote patient-monitoring devices and software are a crucial component of telehealth, as the ability to track patient health remotely has been critical for the growing population of older patients and those with chronic conditions.

Recent investments in the industry suggest a bright future for companies with the best technology. Total telehealth industry revenue is projected to grow at an annualised rate of 8.3 percent, to $4.8 billion by 2025, according to market research firm IBISWorld.

Plant-Based Hair Extensions

Plastic braids, or braiding hair, are popular, but they can cause painful itchiness and irritation. Plant-based hair extensions, a new twist featuring materials like banana fibre, offer a potential solution to this problem and come at a time when consumers are increasingly seeking plant-based products.

The market opportunity for plant-based hair extensions is significant, according to market research firm Nielsen. The U.S. wig and hairpiece market, valued at $391 million in 2020, is expected to reach $410 million by 2025, according to IBISWorld.

Digital Accessibility Services

When large swathes of global commerce moved online, many businesses created websites and apps on the fly, without much regard for accessibility. The result has been major compliance problems.

Adding features such as closed captioning on videos for deaf and hearing-impaired users and alt text on images for blind and visually impaired users who use screen readers signals that your organisation cares about people with disabilities, be they customers or potential employees.

There are plenty of automated solutions to audit your website for compliance, but these services are estimated to miss up to 80 percent of the issues facing disabled users. Startups that can help software engineers find and fix accessibility problems on their websites and apps have a rare opportunity to solve a widespread problem.