One of every entrepreneur’s biggest desires is to find a profitable project idea in a profitable business area. It is admittedly difficult to come across the miracle recipe, but with a little hindsight we realize that there are interesting areas, even though they require a lot of R&D (research and development). These areas offer great prospects for long-term success. It will therefore be necessary to develop an unfailing persistence to see the day of particular research, but so necessary when it comes to health. Here are a few.
The field of connected objects
Connected objects are designed to allow users to connect to Internet networks anywhere and in unimaginable circumstances. Some are already available in the health, sports, wellness, equipment and automotive industries. The best known are “smartwatches” (connected watches in French) and “Google Glass”. In a study conducted by the International Mobile Operators Association (GSMA). Globally, there were 12.3 billion connected objects by the end of 2021, according to US market research firm IoT Analytics.
The field of collaborative consumption
If you agree with those who believe that “use trumps possession”, you can take advantage of the field of collaborative consumption. It is about bartering services and products, the oldest model of sharing and exchange in the world. Today, almost all sectors are preoccupied with barter because it is considered more economical and more humane. The old websites for exchanging items (clothes, household appliances, vehicles, motorcycles, etc.) are increasingly being modernized to meet the expectations of Internet users. We are also witnessing the emergence of rental platforms between individuals, crowdfunding platforms and systems based on sharing economy, which consists of encouraging the lending of objects between individuals (vehicles, devices, etc.). To the extent that these exchanges of services or products are all based on a technological platform, the investment to be planned in R&D remains significant.
The Big Data area
This is the domain of computer data that is collected daily in companies, cities, regions and countries. This data relates to websites, social networks, online transactions, GPS signals from smartphones, health information, etc. Faced with the vast amount of this data, traditional information or database management tools are unable to process them. The Big Data area is without a doubt the necessary alternative to create tools that are capable of processing large amounts of computer data (text, videos, images, etc.) in record time. However, it requires significant research and development efforts.
The field of the pharmaceutical industry
The pharmaceutical industry has undergone a profound change since the 2000s. This industry spends about 12% of its revenue on R&D. In both new and developed countries, medical needs are not yet covered in the fight against certain diseases: diabetes, high blood pressure, cancer, AIDS, Alzheimer’s, leaving room for new companies to position themselves in this niche. By investing in this area, you can therefore guarantee yourself a significant profit. COVID has taught us how important research in this sector is and made us realize how long it takes to bring a reliable product to market!
The field of biotechnology
Biotechnology is the technique of transforming living and non-living organisms into other goods and services. Biotechnologies are used in several ways: genetic engineering, microbiological manipulation, protein technology, etc. Each application requires significant R&D resources.