Covid-19 has hugely impacted our economy, causing a vast economic recession in many countries. The expected wave of startups due to Covid-19 should undoubtedly be considered. Past pandemics such as the Spanish flu, which infected and killed millions of people, changed the course of most companies and businesses.
Black swan events, especially those that occur out of the blue, resulting in massive down-throw. However, they act as catalysts that drive major innovations that boost economic productivity. Likewise, the Covid-19 hit is already encouraging a new wave of business establishments. Let's see how.
Tech Startups To Boost Growth
The business event industry is one of the areas that has felt the massive Covid-19 blow. Meeting and event planners have faced severe disruptions forcing them to make tough decisions fast. With remote working becoming idealistic, event planning companies integrate modern technologies to ensure their survival. People are warding off physical interaction, meaning we are heading towards normalizing virtual exhibitions.
With the emergence of new technology, it's no longer a prerequisite for people to appear physically at conferences and meetings as they can't do this in comfort. This is meant to mitigate the spread of the Covid-19 pandemic. This new way of doing things will lead to many opportunities in the field of virtual exhibitions where enterprises can come together, share ideas, and network. Moreover, this format is convenient for planners as it comes with marketing strategies to reach a broader audience range.
Advanced Delivery Services
Businesses are slowly moving away from bricks and mortar and are slowly embracing e-commerce. However, additional services, such as shipping and delivery, are part of it. Since the breaking news of the virus spreading like wildfire worldwide, human contact has been prohibited. New measures have been put into play to fight off the virus. Tech companies, e-commerce businesses, and authorities worldwide have come to appreciate the effectiveness of drones during this period.
Drones can work 24/7, go anywhere, and will be remotely in check hence ensuring social distancing. They are being used worldwide to deliver goods, services, and care to those in isolation. Authorities are also using drones to maintain law and order to implement lockdown policies around different towns.
Before the Virus outbreak, the idea of buying items from a vending machine was all a novelty for most consumers. However, that notion has soon changed, and it has become an advantage to those in the vending game. In the United States, these machines have provided a contactless solution that people can use to acquire things such as salads, baby wipes, coffee, frozen custard, and beverages, among other commodities. Automated machines provide these items when credit cards or money goes into the machine.
The European vending and coffee service association has emphasized that vending machines remain operational and safe amid the coronavirus outbreak. The association has heightened cleaning and disinfecting the machines' surfaces to mitigate the virus spread. The vending machine is a prevailing startup that will hit the waves massively in the coming year.
Hand Washers And Sanitizers
With the high demand for hand sanitizers and washers worldwide, significant companies are jumping into the opportunity. Venture capitalists invest in companies pumping up their production and optimizing their business models to cater to the sudden demand across the world. Research has shown that the global market is in high demand for health and wellness products, including cleaning products and sanitizers. The need for sanitizers has been steady for the past three months with countries like Italy, the United Kingdom, and the United States showing great demand.
This pandemic has shifted the consumer's perspective toward well-suited hygiene products in response to the Covid-19 crisis.
The Corona crisis has led to a negative impact on businesses and has also fueled new business startups and innovations around the globe. We believe that these changes are short-term responses to the crisis, but they can become long-term in the post-COVID world.