If is often said that markets make businesses. I agree with that sentiment. If you make a great product in a market without rabid customers, you will not make money. Similarly, if you have an amazing team but you are operating in a bad market, then your team will constantly be iterating the product but there still will be no appeal.
1. Clean Technology. The nation is obsessed with renewable energy. In order to stop global warming, we need to come up with new energy sources that do not emit CO2 and leave byproducts that are safe for the environment. Solar projects, smart grid, and wind will be key industries going forward, as the government recognizes the need for green technology.
2. Senior. People are living longer and longer. We are moving from needing tremendous amounts of acute care to chronic care for our seniors. The baby boomer generation is now turning 65 and retiring. This means there will be a huge increase in long term care facilities as well as telemedicine.
3. Health Care. Healthcare is one of the top priorities on the national agenda. The nation is moving from paper records to electronic medical records. There is a need to digitize patient record information so that there can be transparency between doctors regarding patient health. Building the infrastructure for this newly digitized system will be extremely lucrative for those with the skills and know how to do it effectively.
4. Mobile Content. Smart phones are becoming more and more prevalent. iPhones and Android phones make up a lot of the mobile phone market. People can easily jump on the web as easily as they can make a phone call. Mobile content coupled with location based services will become incredibly important within the next few years.
As with any entrepreneurial activity, the best time to start is now. You never know what industry will be hot tomorrow. Capitalize on bringing great products to market to solve big problems.
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