More About The Startup Language — Types of Startups

Dec 8, 2017

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Advance

It’s lesson two in the Startup Language, and this time, we’re looking at some of the lesser-known types of startups. The list goes on…

With new subcategories being made every other day, it seems — we won’t have to wait long before Ghosttech, the sector for startups hunting the paranormal, is made!

(We’re joking. Hopefully.)

Still, here’s a couple of startup sectors that might take your fancy.

Agtech

Also known as Agritech, this sector combines technology with agriculture. Although Agtech falls mainly under the ‘foodtech’ umbrella, its overall cause is much much more philanthropic than the latter, which mainly focuses on improving the food industry. The Agtech sector consists of tech and products that will assist in the future feeding of 10 billion global inhabitants by 2050. Go big or go home — if you’re in Agtech, you really want to change the world.

Example companies

AgCode, BluWrap, BrightFarms, Farmer’s Business Network, FoodLogiQ, to name but a few. Forbes has a brilliant article listing a helluva lot more over here.

Ad-tech

Sounds like Agtech’s twin, but this sector focuses on something far more different. Ad-tech, or “advertising technology” refers to tools and technologies that can improve advertising around the globe. An important sector for companies looking to keep up with the digital wave and perfect their advertising campaigns.

It’s an interesting sector to work for, because Ad-tech is one of few categories that actually help other categories — all startups in foodtech will need advertising, for example. All cleantech companies will need advertising technology to maximise their coverage and target the right audiences. The potential for collaborations is huge — but strangely, unlike cleantech which is currently booming, investment in ad-tech startups is falling each year. Who knows? Maybe 2018 will be the Year of Ad-Tech.

Example companies

MParticle, Innovid, AppNexus, Sprinklr and OpenSlate are just a few of the companies making it big in Ad-tech.

Fashiontech

Self-explanatory, really. Although, actually, not really — coming up with a definition for fashiontech was pretty tricky. Here’s what we have for you: fashion tech is technology that changes the fashion industry; whether it’s innovating international fashion shows, changing the shopping experience or allowing users to interact with the clothes they buy. Some of fashion tech actually mixes with wearable technology and IoT, which we mentioned in lesson 1 of Startup Language.

Along with being one of the coolest and most interesting subsectors, fashiontech is booming across the world. Everyone knows about London’s startup scene; how innovations in cleantech and banking are taking over the city. But there’s a huge part of London that also caters to fashion technology — it’s a lot more popular than you’d think!

Example companies

Lyst, Thread, Metail, Vinaya and Farfetch are some of the biggest names in Fashiontech.

Travel-tech

Another self-explanatory sector — travel-tech focuses on travel, tourism, and hospitality industries. Flight tracking, for example, is a common form of travel technology. But there’s a lot of variety to what travel technology can do. Startups are making airport checking-in processes easier, helping independent backpackers find lodging and activities in a much more efficient way — and even creating automated digital travel journals.

Example companies

Esplorio, KOMPAS, VChain Technology, LuckyTrip and Stratajet.

Proptech

Proptech, or property technology, focuses on the combination of technology and real estate to push the industry towards awesome things. It’s also referred to as CREtech (Commercial Real Estate Technology) and REtech (Real Estate Technology). Unlike the other sectors, the real estate industry has been dormant for a long time — stuck in its old ways, falling behind on the technology bandwagon. However, with the conception of several proptech startups, some based in London, that’s all soon to change.

Example companies

No Agent, Reposit, Seeable, Pavegen and Clikfix

Over to you!

There’s still a ton of startups out there, but we hope lesson 2 has opened up the possibilities! Are there any we’ve missed out that we should include? Let us know!

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