How Startups Can Build a Brand During the Pandemic?
The effects of novel corona virus, are being felt in communities across the globe. Definitely, it is a time to despair. But it is also a time to hope. Yes, the rapidly spreading Coronavirus epidemic has put gigantic damage on large businesses and startups. Stake holders are on edge, valuations have come down and skilled workers are sitting idle in industries. As we prepare to go back to a world which will be changed forever, the time is developed to reset everything. The Startup companies understand the new definition of ‘normal’ will try to bring out the best in themselves by grabbing new opportunities and identifying new customers. Also, the pandemic that has absorbed the planet will be over soon enough. Keeping this optimistic outlook in view, India’s rising startup ecosystem should remain observant for the birth of new ideas that will compel it to re-imagine business for the post-pandemic world.
Healthcare tech to lead the way
Patient care and public safety have come to the forefront ever since the fight to contain the mortal virus started. Innovative HealthTech companies are on the cusp of a major transformation that will create virtual health solutions by leveraging AI (Artificial Intelligence), biomedical engineering, 3D printing, nanotechnology and robotics, among other digital technologies to counter the Coronavirus.
While startups are on an overdrive to diminish or restrain the spread of the infection, Microsoft has also pulled out all stops to find innovative patient care solutions. The startup produces tools for manufacturing other PPEs (mask machines, gown machines), and ICU equipment valves, connectors and ventilator parts.
A new path for mobility
The novel Coronavirus has potentially changed the definition of a hyper-connected world. The global transportation system and urban centers will never be the same again. The crisis has been an eye-opener for the transportation ecosystem to adapt quickly to travel boundaries, social distancing and other measures to contain the spread of the virus at the local, national and international levels. With gigantic disruptions impacting commuters worldwide, it is time to pause and think creatively about enabling an agile and seamless mobility system.
Experts orate that the time is ripe for humankind to adopt driverless vehicles as social distancing is likely to stay. It is believed a radical shift in consumer behaviour due to the Coronavirus will lead to a gush in driverless cars and eventually mark the decline in shared mobility. Coronavirus has resulted in other innovative solutions too. Contactless delivery is the new pattern of innovation to materialize that ensures the safety of customers and delivery personnel.
The reshaping of learning
The Coronavirus panic has accelerated the acceptance of online learning to enable both students and teachers to clinch an enriched digital experience. Almost overnight, schools and universities across the globe have reoriented traditional teaching methodology to adapt to a dynamic digital classroom. Given the nature of the Coronavirus pandemic, online learning is here to stay. The innovation ecosystem will only flourish if entrepreneurs provide to all segments of learners. Experiential learning, anytime learning and self-learning are the new pockets of growth for EdTech companies.
E-commerce and changing customer behavior
As the Coronavirus threat continues to spread, self-quarantines and social distancing have become the norm. In these gloomy times, e-commerce businesses have received a boost as consumers have turned to online shopping and other digital options, in lieu of physical shopping environments. Recently, e-commerce players such as Amazon, Grofers, Flipkart and Bigbasket saw a sudden flow in demand, resulting in product shortages in certain categories. Online retailers expecting a further spike in orders as the average consumer’s shopping patterns have undergone a drastic change
Redefining the new norm of Work from Home
The rapidly spreading Coronavirus has heralded a new era in the future of work that is here to stay. Work from Home has become the new norm adopted by organisations. It has emerged as a potential game changer in how businesses will operate once the crisis blows over. The mandatory social distancing policy has led to businesses investing in new technology tools to make work from home flawless and competent. Organisations across the world are using newer technologies and virtual web conferencing/meeting tools to facilitate remote working. Zoom, GoToMeeting, G Suite and Webx are some leading tools that have enabled organisations to communicate with employees, clients, vendors and other partners.
Startups: Change the world order in the age of Coronavirus
The world as we knew it before the Coronavirus has already transformed since the virus outbreak. With social distancing and work from home being the new normal, stakeholders in the Indian startup ecosystem are pivoting to channelise innovation. The Indian government has also trained the highlight on innovation. Its flagship Startup India initiative has launched a competition for prospective pioneers and companies to contribute creative solutions to fight the Coronavirus crisis.
In the weeks ahead, agile startups will gain further visibility as innovation enablers that aid people and businesses deeply affected by the pandemic. Thus, the need of the time is for startups to promptly adapt to the new changes and grab the unique opportunities presented by the pandemic. The question everyone is asking is whether we will ever go back to the earlier normal after the outbreak ends. The Corona virus will conduct in a new normal that will create a unique set of opportunities. Startups across the world should seek opportunity in commotion and capitalise on the new trends to build the new normal.