Startup nowadays is a Trendy word for a company that is building new products and services that are highly scalable. In 2016, the government of India launched the Startup India Policy to support innovation Nationally in India.
This policy helps startups in various ways, like simplifications for clearance, approval, and registration of startups, tax exemptions and no inspection for labor laws for three years, legal support for patents, trademarks, and copyright, and more.
In the past few decades, evolution in our society on technology, healthcare, social issues, etc. has created a robust opportunity in various segments where new businesses could evolve.
Here is a list of the Best Startup Ideas in 2023 by analyzing the past few decades trends, which can be helpful for everyone to decode new business opportunities for new entrepreneurs and startups.
1. Video Editing
The rise of smartphones has made the camera accessible to everyone nowadays to create digital content in the form of pictures and videos. If we see a trend since 1980, people heavily rely on text and picture media through channels like newspapers, blogs, journals, etc. In 2023, people are less inclined to read long texts or complex content, they will interact with video content first.
Many organizations analyzed several trends where video content marketing helped to reach their company goals much faster than ever.
A few Examples of startups are:-
- Frameboxx – Company offers video production that offers video editing services.
- VideoDo – The company offers video editing and animation service through its studio.
- Filmora – They created video editing software with a variety of tools and resources. It has been used by millions of people to create high-quality videos
2. Payment Gateway System
The payment gateway system offers a software solution that enables accepting payments digitally. It is one of the critical components of any business because it organizes transactions between two or more systems.
In India, with a large population, several businesses are growing multifold, like e-commerce, which shows an opportunity to build a payment gateway system.
A few examples of startups are :-
- Paytm – Paytm is one of the leading payment gateway providers in India, offering payment solutions like online and offline payments, mobile payments, etc.
- Razorpay – It is also a payment gateway provider like Paytm, offering a range of payment solutions.
- Instamojo: This company offers payment solutions to new businesses.
3. iBeacon App Solution
Ibeacon is Bluetooth Low Energy Technology, which provides location-based services to mobile devices with accuracy in centimeters where GPS systems won’t be this accurate.
It is a very helpful tool that can improve the user experience for customers in various ways, such as :-
- Targeted Promotional Offers: It can send promotional messages to customers when they are near a beacon used by any Shop or business to drive more footfall to their businesses.
- Personalising the Shopping Experience: It can help provide necessary details of any product, indoor navigation, and more.
- Improving Customer Service: It can be used to provide real-time location information about customers to employees to provide better service and resolve customer issues quickly.
A few examples of startups are :-
- Mumbai First – It is a city wide network that provides location based services to businesses and residents in mumbai.
- Shopsense – It is a retail analytics company that uses iBeacon Technology to track customer behaviour at stores.
- Beaconstac – It is a mobile marketing platform that helps businesses deploy and manage beacon campaigns.
4. FinTech
It means using technology to deliver financial services. So, fintech is disrupting the traditional ways of using banking, payments, and insurance.
In recent years, there have been several startups in India using Fintech to deliver financial services digitally in several sectors, which makes it one of the favourite choices of investment for Venture capitalists or angel Investors.
As India has a huge market size to deliver financial services in several sectors, there is still so much to innovate in terms of products and services in fintech.
A few examples of startups are :-
- Paytm – Paytm is one of the most popular Fintech startups in India, and it has over 300 million users.
- CRED – It offers a credit card bill payment platform that rewards users for paying their bills on time.
- Policybazaar – It is an online insurance marketplace that allows users to compare and buy insurance policies.
5. Agritech
It refers to the use of technology to improve agricultural practises. Startups are using technology to disrupt traditional agriculture methods like crop and livestock management, food processing, etc.
While India has a large and growing agriculture sector, which has huge potential for agriculture customers seeking agritech solutions.
A few examples of startups are :-
- CropIn – This company provides a cloud platform that helps farmers manage their crops. It uses data analytics and Machine learning to help farmers increase crop yield and reduce costs.
- Tata Kisanmitra – It offers a mobile app that helps farmers access information about agriculture practices, markets, government schemes, and more.
- Intello Labs – It offers software solutions by using sensors and data analytics to track the health and productivity of livestock.
6. Cloud Kitchen
A cloud kitchen is a business concept where food is prepared in a centralised kitchen and then delivered to various customers. This has become very popular in recent years as it has various advantages compared to traditional restaurants.
A few examples of startups are :-
Faasos – It delivers Indian food to customers in more than 10 cities across India using the Cloud Kitchen Business Model.
7. Carsharing
Carsharing is a Business model where people can rent cars from other people for a short period of time. It’s become popular in India in recent years as it offers various benefits.
A few examples of startups are :-
- Zoomcar – It is a car-sharing startup that allows users to rent cars from other people for a short period of time.
- Bounce – This company is a car-sharing startup that offers a subscription service that allows customers to rent cars on an hourly or daily basis.
- Revv – It offers a peer-to-peer car-sharing service that allows customers to rent cars from other people for a short period of time.
8. Job Portal
It is a Website or mobile application that connects job seekers with employers. It offers a platform for job seekers to find Job openings and apply for them, and employers can post jobs to get qualified employees.
A few examples of startups are :-
- Naukri.com
- Indeed.com
- Shine.com
9. Interior Decorator
Decorating an interior is an art that enhances the interior of any space in a way that is functional and aesthetically pleasing. Interior Decorators offer service to clients in accordance with their needs and goals by creating efficient designs that meet their requirements within budget.
A few examples of startups are :-
- Frameboxx – It offers a vast range of services like space planning, furniture selection, and project management.
- HomeLane – It offers a wide range of products and services, including furniture, lighting, and home décor.
- Livespace – It offers a wide range of services, including 3D visualization, project management, and after-sales support.
10. Personal Trainer
It is a business model that provides one-on-one guidance to individuals who are seeking to improve their fitness. They typically work with customers to develop personalised workout plans, motivate them, and track progress.
A few examples of startups are :-
- Fittr – It offers a platform using mobile and web applications where people who are looking for personal trainers can connect with them via virtual training sessions.
- 6-Pack India – It offers a platform using mobile and web applications where people who are looking for a personal trainer can connect with them, including one-on-one training, group training, and online training.
- TrainYa – It is a personal training company that offers services like one-on-one training, group training, and corporate training.