The year 2020 set off with many hopes for lots of people. But had they foreseen what was advancing their way? Most likely haven't. The COVID-19 outbreak had hit all the people in uncommon ways, like numerous mortality rates, some losing their dear ones, losing their jobs, homes, etc. But had this pandemic brought anything beneficial for the people?
Definitely, many industries profited from the spread of the disease like the manufacturers of face masks, face shields, and other sanitary products. While some were grappling due to this pandemic, there are parts of the technology industry that are benefiting from the considerable changes forced on society. And now these times had been transformed into a season of sprouting startups.
Let's take a look at some startup ideas that actually made use of this situation and made the most out of it.
Concerning government policy, all educational institutes in the country were closed to control the spread of COVID-19 pandemic. The e-learning division of startups in India has been one of the least likely sectors to have experienced a beneficial impact during this period. But these predictions were proved wrong as these edutech startups continued booming, and record says that some companies like Byju's, Vedantu, and Unacademy had experienced a three times surge in their usage.
- Content creators
Another set of people who had hit the lottery were online content creators like YouTubers, Instagrammers, bloggers, etc. As the lockdown has been extended with varying phases, the weary people began shifting towards various means for entertainment. The content creators discovered this as an opportunity to get more people as an audience, and luckily it worked effectively.
The demand for online shopping is rising in every section. As most of the companies are currently delivering even to the most rural areas, this need is hiking sharply. The more people remain idle, the more they tend to seek alternative ways of entertainment, and shopping is, of course, a way to achieve that. Also, shops were closed due to strict quarantine, so people started depending on e-commerce for goods and services.
Due to government restrictions, people are deemed to make payments online as it would reduce the risk of getting caught the disease. Payments like salaries, fees, bills, and installments are currently paid online by most people. By acknowledging this trend, new payment software packages are being developed, providing promotional offers that would persuade the audience. Like so, the likes of Visa, MasterCard, and AMEX are benefitting, where physical cash is rapidly getting remain a thing of the past.
To sustain these adverse situations and to make sure that this pandemic is not thwarting the growth of business and economy, the Government of India has been promoting policies and several action plans. Policymakers should not only focus on business continuity and restoration of sectors but also on sufficiently advancing ease of doing business within the country by encouraging Atmanirbhar Bharat Abhiyan.
These startups were evidently successful during these adverse times. Like so, if you are hatching to have a startup but doesn't possess any idea on what to begin, these ideas are just for you, and this would be an ideal time.