Shaping the Future with Tech-Driven Startups in the Post-Covid World
Tech-driven businesses - Swiggy, Zomato, Ola, Uber, Big Basket, Dunzo, Borzo, Zepto, and so on - have adopted state-of-the-art technology to transform consumer lives for the better. The business model, especially for the startup ecosystem in India, has evolved from the basic ‘transact-and-trade’ setup to a more nuanced, personalised, customer-centric setup.
Startup investors in India are looking towards businesses that harness the power of technology to provide a more streamlined, personalised, efficient, transparent, and real-time-responsive customer service experience - primarily through an app or a similar digital platform.
Tech-Driven Startups in The Post-Covid World
The post-Covid market specifically demands businesses to implement digital transformations, and tech-driven businesses are experiencing accelerated growth, even in the cases of startups or new market entries.
The Covid-19 pandemic negatively impacted businesses and processes worldwide and brought on a tectonic lifestyle shift. Additionally, it forced businesses to adopt innovation with swift experimentation and even faster implementation for better chances of survival.
The sectors that were able to evolve quickly and adapt to the "new normal" were majorly tech-driven enterprises or businesses that had instantaneously adopted digital transformation.
For instance, ed-tech startups came up with ingenious and innovative solutions within no time, to allow students and teachers to connect virtually. Similarly, sectors like logistics, which are the backbone for other rapidly evolving sectors like online shopping, grocery delivery, food delivery, and so on, saw a complete digital overhaul. These businesses could set up efficient business models and survive the pandemic. As a result, we are seeing multiple new tech-driven startups in product delivery, online shopping, digital transactions, and similar sectors.
The one post-pandemic trend for tech-driven startups is the adoption of Artificial Intelligence (AI) and Machine Learning (ML) capabilities. Implementation of AI/ML by tech-driven startups allows data-driven predictive analysis, higher efficiency, and the elimination of mundane repetitive tasks.
The adoption of AI and ML with the introduction of chatbots for quick and predictive model-based personalised customer query resolution will improve customer experience. On the other hand, big data analytics can help solve supply chain challenges and ensure an efficient, low-wastage production model.
Finally, the pandemic has led to a sporadic rise in the number of sustainable, innovative, adaptable, and ethical businesses that adopt technology to ensure a customer-driven yet ecologically conscious business model.
Angel Investing Opportunities in the Tech-Driven Startups
Tech-enabled businesses in India are rapidly becoming crucial to local economic growth and are attracting startup investors, not just from India, but from around the world. The changing patterns of consumption and the tectonic lifestyle changes brought on by the pandemic will continue and even get a boost in the post-Covid world.
While the trend started before the pandemic hit, the glaring economic impacts of COVID and the need for instantaneous adoption of technology during the pandemic showed the pivotal role tech-driven startups and businesses could play in the post-Covid world.
Startup investors, especially angel investors in India, have identified the potential of tech-based startups in the post-Covid market.
Startup investors, especially angel investors in India, have identified the potential of tech-based startups in the post-Covid market.
Angel investing in India can actually capitalise on the shifting investment assumptions - from what entrepreneurs should look and act like and where they should be based (location-agnostic businesses with remote working entrepreneurs are a reality today) to the nature of angel investing opportunities in a tech-driven market.
Integrated incubators like Venture Catalysts help angel investors in India connect with curated investment opportunities across sectors, thereby building the perfect synergy and ecosystem for startup investment in India.
