One of the greatest desires of any entrepreneur is to find a profitable project idea in a profitable business environment. It is true that it is difficult to find the miracle recipe, but with a bit of hindsight we realize that there are interesting areas, even if they require a lot of R&D (research and development). These areas offer great prospects for long-term success. It will be necessary, therefore, to develop an inexhaustible perseverance to see the day of certain investigations but so necessary when it comes to health. Here are some.
The field of connected objects
Connected Objects are designed to allow users to connect to Internet networks anywhere and under unimaginable circumstances. Some are already available in the health, sports, wellness, equipment and automotive sectors. The best known are “smart watches” (connected watches in French) and “Google Glass”. In a study by the International Association of Mobile Operators (GSMA). Globally, there were 12.3 billion connected objects at 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 exploit the field of collaborative consumption. It is the exchange of services and products, the oldest model of sharing and exchange in the world. Nowadays, almost all sectors are concerned about bartering, because it is considered cheaper and more humane. The old websites for bartering objects (clothes, household appliances, vehicles, motorcycles, etc.) are being modernized more and more to meet the expectations of Internet users. We are also witnessing the appearance of rental platforms between individuals, crowdfunding platforms and systems based on the collaborative economy consisting of promoting the loan of objects between individuals (vehicles, devices, etc). To the extent that all these exchanges of services or products are based on a technological platform, the investment to be planned in R&D continues to be important.
The Big Data field
This is the domain of computer data collected daily in companies, cities, regions and countries. This data relates to websites, social networks, online transactions, smartphone GPS signals, health information, etc. Given the high volume of this data, traditional information management or database management tools are not capable of processing it. The field of Big Data is undoubtedly the necessary alternative to create tools capable of processing large volumes of computer data (text, videos, images, etc.) in record time. However, it requires significant actions in terms of research and development.
The field of pharmaceutical industry.
The pharmaceutical industry is undergoing a profound change since the 2000s. This industry dedicates approximately 12% of its turnover to R&D. In both emerging and developed countries, medical needs are still not covered in the fight against certain diseases: diabetes, high blood pressure, cancer, AIDS, Alzheimer’s, which leaves room for new companies to position themselves in this niche. By investing in this area, a significant profit margin can be guaranteed. COVID has taught us how essential research is in this sector and has 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 applied in various ways: genetic engineering, microbiological engineering, protein engineering, etc. Each application requires significant resources in the field of R&D.