Where were you during the 2021/22 INNOVATION BOOM?
7 reasons why 2021/22 will have a massive innovation and economic growth.
Where were you during the 2021/22 INNOVATION BOOM?
7 reasons why 2021/22 will have a massive innovation and economic growth
Imagine standing in the future looking back at 2021-22. One of the questions you will be asked is “what did YOU do during the big innovation boom?”
What did you do? Were you sitting in the stands watching or you were in the game, in the zone, giving your best?
1. Major disruptive Unicorns were born after the global crisis.
Although Steve Jobs founded Apple much earlier during the recession of 1976, Apple’s 2nd wind came during the dot-com bubble in 2001. That financial crash infected many businesses with fear and paralyzed their processes. Other examples are Uber (94.29B), Airbnb (~$75B), and Slack (24.30B), all born during the great recession.
2. In the US last year there were double the number of new business applications (Startups).
In the third quarter of 2020 alone, there were more than 1.5 million new-business applications in the United States! That’s almost 2X the figure for the same period in 2019. Meanwhile, the number of new businesses registered in the United Kingdom in Q3 of 2020 rose by 30% compared to 2019. Displaying the largest increase since 2012
(Source: Cencus.gov)
3. Unemployment and remote work boosts creative thinking and entrepreneurship
According to a recent study by MIT, about a third of workers who commuted to work before the pandemic had switched to working from home by July 2020. The unemployment rate peaked at an unprecedented level, not seen since data collection started in April 1948, (14.8%). Before falling to a relatively high level in December (6.7%).
Unemployment and especially unemployment insurance boost innovation. For example, France changed unemployment insurance rules in 2002. It allowed the unemployed-turned-entrepreneurs to continue to collect their benefits. Maintaining business income at full benefits should they have remained unemployed. It does so until the business: A, turns profitable or B, exhausts their rights to these benefits.
4. Billionaires are born after a global crisis
History proves that more billionaires and millionaires emerged after recessions and global crises. For example, Jack Ma, Co-founder of Alibaba. During the SARS crisis in 2003, Alibaba made it through to become a $470 billion company. Also, during the 2009 recession, the rich grow richer, even when the world endured the worst recession in decades. A stock market rebound helped the world’s ranks of millionaires climb 17% to 10 million. According to Merrill Lynch-Capgemini – world wealth report. Their collective wealth surged 19% to $39 trillion, recouping losses from the financial crisis
5. Digital transformation and digital ecosystem- customers will keep wanting everything faster!
Companies will continue to be more customer-centric by engaging and addressing shifting demands. They will share the status and process of the product with their customers. Also, companies will take in customer’s feedback much faster. This will allow for better improvements and a smoother process. Ultimately, this will shorten the timeline and ensure the product is perfect for the end user.
6. The big growth around 5G and sustainability will fast forward the pace of innovation
The global pandemic and ensuing economic crisis highlighted our dependency on networks. The importance of digital technology strategies and their role within society. Now they’re essential element for driving a sustainable economic recovery.
5G will be the foundation for innovation in the Fourth Industrial Revolution. It is predicted that two-thirds of the global workforce will use the 5G platform by 2030. Also, Emerging tech, enabled by 5G, will reduce consumption and emissions by 15%. Finally, by 2024 mobile broadband will provide network coverage to 92% of the world’s population.
7. Bags of cash – Investors are ready for action after a mental-lockdown stand by.
As said before, history repeats itself. In 2009, during the recession the number of aggregate funding into US privately held software companies grew exponentially, almost doubling the total amount fund in 2008. I believe that during this pandemic the same is happening. In the last year, a lot of money has been raised through SPAC with a window to spend it around 2 years. Thus, the next 2 years will be an opportunity for privately-held companies to boost their funding and growth.
We can see the light at the end of the tunnel.
But until then, are you going to stay in the stands or come down to the field and play?
It’s a shame to waste a good crisis, but to waste an innovation boom will be unforgivable.
About Amir:
Amir Raveh, Founder, and President of HYPE Sports Innovation.
HYPE S.I. is currently running GVA 2.0. Sportystech Startup Founder APPLY HERE.
Comments
Ian Jessep
Great points and Amir, Technology can allow the simple but truly unifying ideas come to fruition. These simple ideas can then build true global communities focused around sport, fitness, belonging and sharing. Love sport, love tech! The innovators are coming, to change sport as we know it. freethrow100.com
John Gontier
Dear Sir/Madam, I founded and am chairman of www.europapointfc.com in Gibraltar National League. I`m now starting Gibraltar Wave FC an independent women`s only Football Club in a small league with the aim of becoming a perennial Champions League team. Our tv rights and all things disruptive will be introduced for fans worldwide to follow and love our league. Hype can do much. kind regards John Gontier
BRANKO CEJOVIC
Absolutely agree with all 7 reasons and I am sure there is MUCH MORE others that also follow the same trail. I give promise to my self - 2021 must be the best ever year in my professional life 👍 Also hope that with HYPE help and support - we can together celebrate one exceptional year : 2021 Best wishes, Branko
GIT Bernard
I totally agree with what is written, but why are you only talking about digital or anything directly related to digital? I think that products that contribute to improving the daily lives of people and sportsmen and women also have the right to be cited and to be helped to gain media and financial recognition.