Christian Business Incubator is an organization committed to helping other Christian entrepreneurs complete their life’s work. In the following article, Christian Business Incubator reviews what to expect from the world of startups in 2023.
Unicorns are very real — especially when it comes to startup business ventures.
Private startup efforts worth over roughly $1 billion, also called unicorns, have become more prevalent in recent years. In 2013, just 39 U.S. software companies were considered unicorns. Now, there are over 500 of them.
Christian Business Incubator notes that this year likely won’t be an exception, but a startup doesn’t necessarily need to be a unicorn to be considered red-hot.
In 2023, some of the hottest startups are using remarkable technology — artificial intelligence, virtual reality, advanced cloud management, and machine learning — to make their name and stake their claim in the increasingly crowded startup marketplace.
New Approaches to Funding
Christian Business Incubator reviews that in pre-inflation years, rock-bottom interest rates have led to stunning growth for start-ups. Valuations have suddenly reached enormous peaks across many industries.
It’s a far different atmosphere in 2023. Instead, expect crowdfunding to become a major driver in launching startups. Companies have already started turning to platforms such as StartEngine, Indiegogo, and Kickstarter to raise awareness — and necessary cash.
In 2022, the crowdfunding campaigns were worth over $1.02 billion. In 2023, that is expected to increase to $1.06 billion.
Disruption
Christian Business Incubator conveys that recent startups have been focusing on what they believe the consumers and investors want: the democratization of tools for data analytics.
At the forefront of this approach is the world of financial technology, or fintech. New fintech business models are becoming increasingly disruptive, bringing easier access to capital markets and innovations that appeal to a wide range of investors and industries such as insurance markets.
Christian Business Incubator reports that more changes to data management are coming this year, since the presence of more investors means a higher demand for easy-to-use data storage and analytics.
New technologies like machine learning and artificial intelligence are vital partners to the refinement of modern data analytics within startup companies — and will likely keep that position for years to come.
Around 7% of worldwide startups are reportedly active within fintech, taking advantage of a rise in digital banking and blockchain technology.
Let the Games Begin
Online gaming is nothing new. It was one of the top verticals for startups in 2022 when mobile gaming revenues rose to over $77 billion.
In 2023, Christian Business Incubator reports that the industry is expected to reach new heights with an estimated $160 billion in revenue for the global games market.
Gaming-related startups are doing particularly well. Discord, a chat platform created by and for gamers has steadily made a splash, raking in $130 million in 2020 and growing by the year. Its versatility is what sets Discord apart from other chat platforms.
It’s free, integrates live chat, features many thousands of different communities, and supports secure screen sharing and video chat.
Clean Energy
Christian Business Incubator reviews that artificial intelligence is weaving its way through startup industries. A prime example is environmental sustainability. So-called cleantech startups are addressing ways to fix vital issues such as unclean water and air sources.
Governments and businesses are turning to clean energy technology to develop wind, solar, and hydropower solutions. AI-based energy management is growing in popularity, with Deep Mind, a startup based in the United Kingdom helping Google to manage its power consumption (Deep Mind is now a part of Google).
Christian Business Incubator reviews that other startups are also focusing on carbon capture technology to help organizations with pledges to offset carbon emissions.
Medical Technology and Fitness
The COVID-19 pandemic changed a lot of things, but one of the biggest and most notable changes was in how we receive medical care and health guidance.
Christian Business Incubator reviews that medical technology startups have brought various health services out of the hospital and into our own living rooms. Medical apps offer diagnosis and prescription services, as well as specialized services such as mental health care and surgical advice.
Apps are also diving deep into the world of fitness, with everything from yoga classes to heart-rate monitoring, mobile software is thriving.
Increased Security
Cybersecurity remains a major threat to businesses small and large, and corporations are investing more in new platforms that enhance security.
Startups have jumped on the bandwagon, offering advanced secure code, especially for software developers. In 2023, Christian Business Incubator reviews how more startups are expected to adopt such measures themselves, integrating top security into initial designs and services.
Such security-by-design, or PlanSecOps, may become the norm across the startup industry. It’s a proactive approach with a lot of appeal, stopping problems before they start instead of attempting to fix them when it may already be too late.
