Top 50 Tech Startups - 2020
Tech startups are primarily defined by innovativeness, scalability, and growth, and to become successful within a particular industry, it must establish market-share. To do this, a startup must carefully select its target market and demographic to ensure it has a higher chance of establishing market-share. This is because an over-saturated market may be challenging to enter compared to a sector with fewer competitors. And to succeed in an over-saturated market, a startup must focus on a specific niche and add value beyond what competitors offer.
Tech startups primarily focus on implementing technologies, but the era of personalized customer-oriented approach has shifted tech servicing and production. This is why several startups are being launched and are operating within major cutting-edge areas like artificial intelligence, robotics, cybersecurity, virtual reality, and blockchain. Despite economic uncertainty derived from the COVID-19 pandemic, venture capital investors are doubling down on funding startups in these critical areas. With a significant portion of the population now accessing the web through their smartphones rather than their desktop computers, investing in app development for a business is key to reach a major part of the potential market. Today, successful startups require more than just an outstanding idea; the innovation-hungry era needs execution and custom business apps to make a tremendous difference to that end. Apps not only improve organizational efficiency but enable startups to keep track of their company vision and execute it successfully. Depending on the niche, a startup may need a custom app, geared towards improving internal operations and increasing employee productivity, long before investing in a consumer-facing app becomes a viable business strategy.
At this juncture, there is a wide variety of tech startups entering the market with a set of advanced offerings and novel ideas, intent on making their mark in the market. To help companies navigate through the best-of-breed tech startups, CIO Review has compiled a list of ‘50 Most Promising Tech Startups – 2020.’ The enlisted organizations are poised to disrupt the tech world by bringing innovations and user experiences. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you CIO Review’s “50 Most Promising Tech Startups – 2020.”