The tech sector continually innovates and sets a standard for other industries. Whether you’re a freelancer, an aspiring businessperson, or a student exploring opportunities, the tech industry offers ample opportunities and ideas. In this article, I will explain some innovative business ideas for the tech industry.
20 innovative business ideas for the tech industry
1. AI-Based Virtual Designer of the Interior
What it is:
An application or a program in which people post pictures of their rooms. A person has to click a picture of their room and input a design. Based on this, they can decide what sort of design and color suits their room. Even with the app, furniture can also be added.
The reason it is helpful:
Every individual would like to decorate their homes; however, they often lack the time, money, and expertise to hire a professional. The tool is a cheap, fast, and individualised solution. You just have to select and decide.
How to make money:
Provide basic designs free of charge and premium layouts. You can also be an affiliate marketer for furniture brands, generating income when customers purchase products you recommend.
To promote your app, you need a modest investment. Once you have social proof, you can earn a recurring income.
2. Intelligent Farming Devices
What:
The construction of sensors and applications that assist farmers in monitoring crop health, soil moisture, and weather conditions.
How is it helpful?
The decision-making process in farming is almost manual. Hence, it consumes a significant amount of time for farmers. However, with the use of farming devices, Data and automation help farmers make informed decisions and yield more.
How to make money:
Sell the sensors as equipment and then provide an app that offers access to the data via a subscription.
3. Remote Workers’ Security
How it works:
It is a software platform that ensures the security of a company’s data when its employees are working remotely. It may feature safe file transfers, password protection, and phishing protection. Moreover, as an employer, you can track what they are working on
Handiness of using it:
Remote work teams are becoming increasingly popular among businesses, and cyber threats have also risen. Here, companies prefer inexpensive and straightforward security.
Ways to earn money:
You can charge a business a monthly or annual fee, depending on the number of employees or the amount of data consumed.
4. Resume and Cover Letter AI
What it does:
Companies are now accepting full professional resumes, and many people don’t know how to create an experienced Resume and Cover letter. So, here AI will help people make their customized resume based on the information provided to them.
Why you should use it:
Many job applicants struggle with writing or formatting their resumes. This tool eases the process and helps them in quality approval by HR.
Chances of getting money:
Create free templates and sell paid formats or professional comments.
5. NFT Marketplace of Local Artists
What it is:
A service that grants artists from a region or less popular places a platform to transform their creativity into NFTs and sell them on the Internet.
Why does it come in handy?
The majority of NFT platforms target global artists. This helps local artists gain exposure and revenue through digital art.
The way to make money:
You can collect a commission on every sale or offer a monthly paid option for artists to list their work.
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6. Niche Industries Micro -SaaS
What it is:
Create minute-sized software solutions that resolve highly specialised problems in small industries, such as scheduling software for tutors or software for car detailing shops and delivery apps for food restaurants.
The usefulness:
Large companies often overlook smaller markets. These niche companies are unique in their demands, and they are willing to invest in tools that can save them time.
Ways to earn:
Subscription fees every month. Even 100-200 users can form a stable income. Many companies have already established their market in their niches, so you can start with your niche.
7. Virtual Health Clinics
How it works:
A platform that allows one to talk to a doctor online through video calls, get a prescription, and monitor health data. Basically, a consultation call where patients ask for advice of their problems.
Why does it come in handy?
It is convenient and time-saving, especially for individuals residing in rural areas or those who are unable to travel.
How to make money:
On a consultation or subscription basis, with monthly checkups and care.
8. The AI Tutor Language Learning App
An application that helps a person to learn a new language by conversing with AI that converses in real time.
How it helps:
The tool is helpful because most apps are either vocabulary- or grammar-based, whereas this tool provides real-life conversation practice, allowing people who use it to become fluent more quickly.
Premium options/How to make money:
The free basic plan offers more features, including premium plans that provide access to additional languages, extended conversation time, and certifications.
9. Smart Assistant with Voice Activation for the Elderly
What it is:
A voice-controlled device that helps older people with reminders (for medicine or appointments), calling family, or even emergency help.
Why is it helpful:
Elderly people often find smartphones and apps challenging. This helps them with a simple platform for operating everyday activities by voice.
The earning mechanism:
You can sell the device and provide superior monthly services, including emergency alerts, video calls with doctors, and caregiver monitoring.
10. CK Management Software
What does it do?
It is a digital platform that assists in managing delivery-only restaurants, including food orders and stock, delivery routes, and customer reviews.
The usefulness of this: ‘
You are all aware that the food delivery service industry is a rapidly growing business. Many small kitchens require specialised tools to conduct their daily operations effectively
How to earn:
Bill the software monthly, based on the number of orders processed or the size of the kitchen.
11. Personal Finance App AI
What it does:
It is a mobile application that helps you adjust your spending patterns, create budgeting plans, and provides AI-based recommendations on spending and saving more money or investing more effectively.
Reasons why it is good:
Not everyone is skilled at managing their finances. Using this application, financial planning becomes automatic. It’s a great saviour who is not great at handling finances.
Monetization:
Free with advertisements, paid with access to advanced features such as investment exploring or tax reports.
12. Metaverse Experience Design Studio
What it is:
A creative service that helps businesses build stores, offices, or event spaces in the Metaverse (virtual worlds).
The usefulness:
With the proliferation of a virtual world, businesses need to establish themselves there as well. However, the 3D design is a specialised thing.
Earning strategies:
Bill your clients per-project, down to the design work, or bill them on a monthly retainer basis.
FAQs
What is the procedure for determining whether my tech idea will work?
Start small. Make a sample version (MVP-Minimum Viable Product), and get an opinion from the people. When they comment or are willing to pay, you will come to know that the idea is good.
What happens when my idea is stolen?
You’re not alone; it happens with most companies. However, in this situation, make sure to improve your quality and promote your product aggressively. Be aware that you’re the one behind this idea.
I don’t have a technical background. Is it possible to start a tech business?
Yes, absolutely! Many successful startup entrepreneurs do not code. To do that, you need to find a technical partner, hire freelancers, or you can go non-coding with Webflow, Bubble, or Glide.
How long will it take to build a tech business?
It depends. It can take 1-3 months to develop a basic version, known as a Minimum Viable Product (MVP). To be in a profitable state may take between 6 months and 2 years or more. The only thing is to be consistent and continue to improve.
Should I have to open a company?
You can test your idea in the form of a freelancer or sole proprietor. After you have begun to earn or think that you need to protect your brand, then register your business.
Conclusion
In conclusion, the technology business keeps on rising, and if you are one of those who are thinking about entering this field, then you should go for it. Because this niche can’t be saturated, as it keeps evolving, you will get a good chance to earn a good amount of money.
I have listed the ideas for you. You can start from any of these ideas according to your interests, and I hope you will achieve the success you want.
