Healthcare, Artificial Intelligence, and Cannabis to Skyrocket
Throughout 2023, startups are set to gain serious headway in industries related to healthcare, artificial intelligence, and cannabis. At least, that’s according to the 68 founders surveyed by Insider. Although we can’t see into the future, 68 founders provided insight and predictions based on their knowledge and oversight within their own market, as to which businesses they believe will excel in the upcoming year.
Matt Woodruff, the chief product officer, and co-founder of SaaS company Constellation believe that AI will reach widespread adoption and that companies that embed the right technology in every area of operations are the ones who will stand out in 2023. Tim Dierckxsens, the co-founder of Web3 company Venly, predicts that the blockchain will make a comeback in 2023. Whether it is a business case around fan engagement, loyalty programs, in-game asset ownership, or royalty distribution, he believes that the technology is maturing, and businesses are beginning to value the benefits.
And, although social distancing and other COVID-19 protocols have significantly diminished in the last year, there is potential that e-commerce will continue to flourish. Sivan Baram, co-founder, and CEO of social shopping platform Radd, believes that the shift to online shopping throughout the pandemic highlighted convenience for people in a variety of different situations.
Katerina Shneider is the founder and CEO of multivitamin and supplement startup Ritual. She believes that healthy and clean brands in all industries are only going to grow with the rising importance of climate change. This coincides with a trend that Katie Wilson, co-founder, and CEO of vegan snack brand BelliWelli, sees rising in 2023. Wilson believes that people are going to start craving healthier snacks and versions of comfort food.
The rising importance of climate change will also significantly impact climate and greentech companies. According to Alpay Koralturk, the founder and CEO of furniture-resale platform Kaiyo, the sector will significantly gain market value and there is potential for large amounts of federal money to fuel the industry.
When it comes to business models, Jonathan Zacharias predicts that subscription businesses will outperform customer acquisition costs. Zacharias is co-founder and president of the marketing agency GR0. According to him, as cost per acquisition continues to skyrocket, the only businesses that make sense right now in e-commerce are those that can afford to pay for many new customers because they are continuously buying products.
Combining Psychedelics with Mental Health Treatment
For the full list of predictions from the surveyed founders, check out the article on BusinessInsider.com:
“Ronan Levy, a cofounder and the CEO of the psychedelic-therapy company Field Trip Health:
‘Psychedelics will become the dominant form of mental-health treatment in the coming years. Like blockchain, however, psychedelic investments have been hit hard in 2022 but are poised to come back in 2023. As the world continues to open up to cannabis, the cannabis industry will continue to grow into a massive sector. Delays in US legalization efforts have slowed the growth in this industry but as countries like Mexico, Thailand, and Germany move to liberalize access, cannabis companies will continue to grow.’”
From Founders Predict Health and Wellness Will Dominate Business This Year - Business Insider
Photo Source: WIX
Are there any predictions that you disagree with? What’s a trend that you think will gain traction in 2023?
Written by Yellow Brick Road
January 6th, 2023