Creating a “tech unicorn” (start-up companies valued at over $1bn) is not an easy task. But there are a few strategies that can help you come up with potential possibilities:
Brainstorm Likely Sectors: Start by brainstorming industries where there is potential for rapid growth. Think about the industries that are changing with technology, such as digital advertising, healthcare, e-commerce, etc.
Research Existing Business Models: Take the time to research existing business models in the sectors of interest. Examine how these companies make money, and develop ideas for additional ways that similar companies could monetize their products or services.
Apply Technology to Traditional Industries: Consider how technology could be used to disrupt traditional industries. For example, think about how cryptocurrency could be used to make payments in the banking industry, or how virtual reality could be used to enhance the entertainment industry.
Develop Unprecedented Combinations: Brainstorm ways to combine two existing technologies in an unprecedented way. Think outside the box and see if there’s a unique way to mix two existing products or services that could create a revolutionary new offering.
Identify Problems Without Solutions: Look for areas where existing products and services fall short, and brainstorm ideas to fill the void. Identifying problems that don't already have a solution is a great way to come up with new ideas.
Above all, the important thing to remember is to think big. Don’t limit yourself to ideas that exist today – think about the future and what the market could look like in 5-10 years. That’s one of the best ways to come up with “tech unicorn” ideas.
Good luck!
