“Vocal for local” the new business mantra by our Prime Minister Modi opens the opportunity for the aspiring Indian startup owners to make their dream come true.
Earlier with Startup India and now with the concept of promoting local business, the government is making all its efforts to create “Self-reliant India” (aka Atmanirbhar Bharat) by supporting entrepreneurs, PSU’s and rural economy.
Talking about the current economic condition, the lockdown has taken 50% businesses’ graph down, 20% business up while the rest 30% has an opportunity to tap the potential market digitally.
The 20% mentioned above are the businesses that learned their lessons from the financial crisis of 2008 and the dot-com bubble (adopting digitization) which made them take preemptive measures like remodeling their business plans, investing capital in digitization, and training their work-force for such eventualities.
While the last 30%, these are the people looking for an excellent idea to make their space in the market. Keeping in mind the accelerating digitized trend, we have curated some startup business ideas to help these Indian startup aspirants recognize the opportunity by investing in the digital infrastructure.
So, if you are one of them, here is something you should not miss!
Emerging startup business ideas for Indian entrepreneurs during the lockdown & post-lockdown
COVID-19 outbreak disrupted lives and the economy to a great extent, but hopefully, some silver linings like below opened new doors for small business owners.
Video Conferencing app like Zoom
The tech industry around the world has jumped to remote working with the enforcement of social distancing by the government. Zoom the video conferencing tool has evolved from 0 to billion dollars in a decade and has seen the highest success within the past few months.
>> Emerging unicorn with the market cap stretched over $40.3 billion.
>> Reported 200 million single day meeting participants in March 2020.
>> Stock market worth increased by the total worth of Uber and Lyft
These statistics are a sign of growth and scope for more such video conferencing apps to grow post-lockdown.
Social networking apps like Houseparty
Houseparty the social video app has seen a great market elevation with the announcement of restrictions on public meetings.
The app allows the user to create a virtual space to invite their friends to the party, chat, and play games together. It also notifies them if any of their friends are online or having a virtual house party.
With the increased buzz of the app among youngsters, the app has 17.2 million downloads with a current revenue generation of $155,000 until March and has ranked No.1 on the Google play store in recent times.
Delivery service apps
Whether it’s a food delivery app like Zomato or the grocery delivery app like Bigbasket, the brand names are enough to define the success of the delivery apps.
With the situation of lockdown, the new delivery app ideas like Hyperlocal ecommerce apps and Drone delivery apps have surged the market to support local shops that work on smaller networks.
More contactless payment apps like GooglePay are developed and embedded into these apps to make the payment process easier and faster. The current research on the WhatsApp Pay service is the sign of the changing trends.
Innovative Apps for Senior Citizens
The hardest hitting genre during the lockdown is the elderly people living alone, who depend on the local markets for their daily needs.
Senior citizen apps like AARP Now and Senior Savings helps these old hands by keeping them updated with the local offerings, discounts, and senior-specific benefits to help them avail them on time.
The reason why investing in these apps is a good idea is the expected number of world population above 60 years to reach nearly 2.1 billion by 2050 showing the rising need for such apps in the future.
Online learning app
The lockdown has left the schools shut, making online education a new norm. With over 1.2 billion children learning from home, an app like Bijus has taken over the market.
With BYJU’s reporting a 200% increase in new student registrations is considered India’s only ed-tech unicorn adding itself into billionaire’s club.
As the online education app market is estimated to reach $350 Billion by 2025, the scope for the success of such apps has increased to double.
Ecommerce app development
The government’s order on shelter in place increased the demand for online ordering, magnifying the e-commerce market in India to touch ₹7 trillion by 2023.
Increased digitization and the e-commerce market fitting in the space of small and medium scale business with its low operational cost, 24/7 availability, and faster service has made Indian retailers shift their focus to e-commerce app development.
With the survey stating a rise of 69% in the online shopping behavior of Indian consumers, the e-commerce market post-COVID-19 is estimated to reach $98.4 billion in the coming four years.
How digital infrastructure is the right investment during COVID-19?
Investment is a really big decision to make especially when the economic numbers on the reports are falling. Being a smart investor, it’s the time you recognize where you can potentially invest less now and earn more later.
Above were some of the startup business ideas that are currently doing well. Developing and investing in such apps can be profitable if you know how to grab the opportunity at the right time.
Being in the industry for the past many years, we can guide you to make the right investment decision and also help you make an outstanding business application.
You can share your investment plans and ideas to validate through an email or we can also schedule a 30 min FREE consultation through our startup services to discuss your business strategy.