Given the proliferation of entrepreneurial assistance services, advancements in management technologies, and the cultural shift towards self-employment and identifying one’s vocation, it’s no surprise that we’re seeing more entrepreneurs enter emerging industries than ever before. Industries that were once highly sought-after as spaces for innovation are becoming extinct, major industry occupants are changing form to increase agility and reduce costs, and new spaces are emerging every day to allow for the continuous growth of the entrepreneurial spirit in America.
It can be hard to keep track of all the changes, but there some definitively proven spaces that are currently serving as testing grounds for the next generation of entrepreneurs to prove their worth. Here are the top emerging industries for entrepreneurs:
Cannabis
“The cannabis industry has already established itself as one characterized by rapid growth and a large economic upside. However, it is also emerging as an attractive option for entrepreneurs that thrive in a dynamic and widely unprecedented business setting as well as those with a social vision wider than simple profit generation. It is also a unique opportunity to build the foundation of a massive scale industry without the immediate influence and impact of the largest financial players.”
— Michael Bologna, CEO of Green Lion Partners, a Denver-based business strategy firm focused on early stage development amongst firms in the cannabis industry
Vaporizers
“There is no doubt that the growth of vaporizer industry has accelerated in recent years. There are a lot of opportunities that come with this growth as it becomes more mainstream and as the next generation of users become more health conscious than ever. Furthermore, it is a space where innovation is appreciated and smart customers are active in propelling this industry forward.”
— Richard Huang, Co-Founder of Cloudious9, a high-tech vaporizer company that developed the first-ever vaporizer with a built-in water filtration system that allows the user to burn or vaporize their product
Virtual Reality
“As Virtual reality and Augmented reality technologies improve and cost less, they will take over traditional computing devices such as Desktops, Laptops and Smartphones. This will usher in a new tech revolution similar in scale to the smartphone revolution. With this shift we are moving away from the information age and into the experience age.”
—Filip Baba, CEO and Co-Founder of Anyworld, a VR agency that creates immersive brand experiences across all virtual reality platforms
Medical Data
“Innovations and disruptions related to health technology and data that recognize the complexity of the human body and the uniqueness of individuals should start to dominate entrepreneur mindshare. A simple concept like tracking data to drive healthier outcomes has long been proven, and now is the time to leverage legacy solutions and care models that are entrenched to take healthcare to the next level: having patients, clinicians and researchers transform care by efficiently and effectively exchanging high quality data. There is a captive market for solutions that make people healthier and lower the cost of healthcare.”
— Prateek Dwivedi, CEO of Ehave (EHVVF), a data-driven medical innovation company empowering the mental healthcare community with a next-generation of data-rich tools designed to improve patient management, diagnosis, and treatment
Mobile Apps
“Mobile app technology has developed to the point of providing users with the ability to control almost anything in their homes, including their air conditioning, lights, and oven. In the near future, people will soon be able to manage the growing of their fresh, non-pesticide food from their phone, even while on vacation. Any tech-savvy entrepreneur interested in emerging industries should seriously consider venturing into the mobile app space.”
— Uri Zeevi, CEO of Seedo, a fully automated hydroponics growing device company that lets you manage herb and medicinal plant grows via remote mobile app technology
BioPharma
“Opportunities in the biopharma space are virtually unlimited on a global spectrum. Advances in genetic mapping and big data are key to evaluating new classes of medicine. As computing power increases and costs decrease, the universe of potential solution sets continues to expand. While my company focuses on new and unique uses of medicinal molecules that have been used for centuries, our ability to safely create genetic modification to specifically recreate and task biological machinery wouldn’t have been possible even one generation ago.”
— Jeffrey Korentur, President and CEO of Teewinot Life Sciences, a global biopharmaceutical company focused on the biosynthetic production of pure pharmaceutical grade cannabinoids
