Startups That Have Successfully Emerged During Covid-19

By Author: Malka Amarathunga
Total Articles: 33
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The impact of the Covid-19 pandemic proved to be a dismal year for most industries as they were forced to overcome unprecedented circumstances. Due to this, society was ultimately expected to adjust and adapt to the new normal. This includes entrepreneurs that sought startup funding (i.e. www.equitymatch.co) to either pivot or look for alternate avenues.

Despite this, the disruption caused by the pandemic also provided new opportunities that led to flexibility in innovating approaches. This new space that was carved out, allowed entrepreneurs to launch their startups amid the pandemic. Their initiative proved to be successful as they capitalized and dominated on the need of individuals during this period.

Who thrived in chaos?

The pandemic brought about a change in the habits of individuals from their hygiene, to spending capacities and socializing. With the absence in the market, it laid out room for innovation to be built upon. This resulted in startups adapting to cater to the developing demands of society.

Types of industries
Flexibility was key in adapting to the change in the market, ...
... which startups were able to deliver more efficiently. The majority of the startups were focused on technology this is imperative as established businesses were required to incorporate digitalization to survive.

Some of the sectors that grew during the pandemic were:

Education: This included transferring the education system online as it was physically not possible.
Health and Wellness: This sector incorporates a multitude of tools that branched out from monitoring to tracking and even treatment-related purposes.
E-commerce and deliveries: The pandemic required individuals to refrain from social gatherings and maintain social distance. The e-commerce platform permitted virtual grocery shopping along with deliveries that ensured the maintenance of standard hygiene practices.
Pharmaceuticals: The rise in medication and reports required through testing showed a clear surge in new mechanisms being developed.

Capitalizing on the opportunity during the pandemic
Sifting through the pandemic revealed a few startups that did more than survive during the years. They were able to transform the solution that benefited themselves as well as their market.
These startups are still young and comprised of multiple backgrounds which could be why they have succeeded where others have not.

A few of them are;

Gradeazy: This is an online education-based platform that hosts examinations online for a minimal cost. Its platform comprises a performance assessment, with an array of exam formats such as Multiple-Choice Questions to a long essay.
Hopin: To fill in the gap between physical meetings and events, this startup catered to online events. Such as virtual meetings, one on one discussions, and breakout rooms.
Kry: An app focused on telemedicine that includes video consultations, self-assessments, and home monitoring capabilities along with virtual consultations.
Panion: An online platform that is more focused on bridging the social gap through virtual spaces for individuals to convene with ease. This is offered to offices, communities, and institutions to manage healthy mental well-being.
Infarm: This is a food-based startup through vertical farming in partnership with distribution centers, restaurants, and supermarkets. It intends to provide safe and healthy produce as it simultaneously tackles agricultural and sustainable limitations.
Aaptiv: An online video platform catering to physiological well-being through its fitness programs.
ConnectedLiving: This is an app that benefits the elder population and ensures a continuation of communication amongst the senior community.

The pandemic has caused individuals to try new things that they may have previously would not have been comfortable with. Such as online retail shopping, health consultations that occur virtually, and remote working for extended periods. The vulnerabilities exposed by Covid-19 have led to the development of various avenues.

What is next?

The pandemic has indirectly provided startups with the leverage they would have previously struggled for to introduce their solution to the public. Yet, the unpredictability of the pandemic and new norms do not guarantee that this success would last. If anything, each startup founder should be prepared for a change in consumer behavior.

Although the startup community has made a lasting positive impact during a difficult period through its contributions it is important to remain flexible. Some of these startups were born out of necessity, whilst others were more goal-oriented.

The future and the decisions therefore should be made with the thought that other disruptions may occur. This determines the overall success and longevity of the startup, and its ability to adapt and keep moving forward.