WJR Business Beat

WJR Business Beat with Jeff Sloan: Top 5 Fastest Growing Sectors of Startup Venture Capital Investment in 2020 (Episode 166)

Did you now that Q4 of 2020 saw the greatest number of startup companies being launched than ever before in our country’s history? If you’re ready to start a business but just don’t know what business to get started, you’re not alone.

To help you figure out what business to start, we’re sharing some incredibly valuable insights from Tomasz Tunguz, director of the Redpoint venture capital firm. Tomasz breaks down the top categories that saw the biggest increase in venture capital investment in 2020.

Tune in to this morning’s WJR Business Beat to hear Jeff share the top five fastest growing sectors of startup investment:

Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!

Good morning, Paul.

2020 will certainly be known as a very unique year; let’s hope we don’t see one like that again. But, some good things happened worth highlighting, and one of those good things? How about more startups being started today than ever before? In fact, Q4 2020 saw the greatest number of startup companies being launched than ever before in our country’s history.

Look, if you’ve been dreaming about starting a business of your own, simply put, now is the time. There’s never been a better time than right now. Everything you need to start a company, from the technology that you need, to sourcing inventory, to marketing the company once you’ve got it up and running, is at your fingertips.

And if you agree that the time is now, but just don’t know what business to get started, don’t worry, you’re not alone. Many face the same issue.

To help you figure out what business to start, we’ve got some high-value intelligence out of Silicon Valley. It comes from Tomasz Tunguz, who is the director of the Redpoint venture capital firm.

Tomasz breaks down the top categories that saw the biggest increase in venture capital investment in 2020. Here’s the top five:

Number one, quantum computing. Number two, dating platforms. Number three, battery technology. Number four, video conferencing. Ever heard of Zoom? Number five, music streaming.

So, look, admittedly, many of the hot sectors in technology are just simply too esoteric or specialized to be a practical choice as a sector to start a business in for most of us. But, understanding important trends, following the sectors that are hot, can act as a guidepost to lead you to an area to focus your energy and your creativity in, in order to come up with a business idea that is right for you.

And if you pursue a business that’s in a hot sector with lots of funding activity, your chance to make it big goes way up.

I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.

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