Trends Seen In the Sheltowee’s Startup Week Pitch Contest
This November, Sheltowee put together its first startup week pitch contest which can be analyzed for trends in technology and consumerism. As we soon head into 2020, understanding the trends that drive innovation remains important to being a catalyst for change. And, every entrepreneur learns that being a catalyst for change means knowing when to act.
These are some of the trends we observed through the participants of the day:
1. Fintech continues to seek more analytics in its data integrations and for its shareability inside organizations. Forbes identified several trends that are driving startups in this area. They included: (a) Big banks looking for more AI; (b) a catering to millennials (28-38 years old), as they are the largest generation of the workforce; and (c) big money flows into fintech.
Presenting at the SBN event was Forecastr, an online financial forecasting platform that helps CEOs and management teams confidently forecast revenue, budget expenses, and manage cash. Forecastr serves a high “shareability” among investors and mentors.
Goldman Sachs estimates the worldwide fintech pie to be worth $4.7 trillion.
There are more than 12,000 fintech startups worldwide, according to CB Insights.
2. There’s now a focus on medical devices for pediatrics. FDA is committed to supporting the development and availability of safe and effective pediatric medical devices. As reported by AAP News, unlike pharmaceuticals, companies are not required to study medical devices in children, and development continues to lag behind devices for adults. Over the past decade, only about 9% of devices going through pre-market approval or humanitarian device exemption pathways were approved with pediatric indications for children under 18, according to data presented by the FDA. The need has been observed and in the years ahead, there is anticipated more emphasis on youth medical devices. Innovation Therapeutics, at the pitch event, is a pediatric-focused device company that solves early medical and developmental issues in infants and children, preventing long-term and more complex problems.
3. Ecommerce for Small Business continues to jump forward. Curated datasets are getting easier, and with more emphasis of artificial intelligence and machine learning, the ability to narrow focus target audiences continues. Online sales growth continues to creep upward. And business-to-business ecommerce is escalating. At our pitch event, we welcomed Tacklehack, the curated marketplace and software platform that allows anyone to... continue reading