Top 10 startup ideas 2020 with MVP approach

Team TheCodeWork

21 October 2020 5 minutes read
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Reading Time: 5 minutes

These days’ start-ups are progressively using the concept of Minimum Viable Product (MVP).  MVP for start-ups has become the primary stage of success. Here we have for you the top 10 startup ideas of 2020 with an MVP approach.

I know what you are thinking. Why MVP?

Well, what is the best way to test your product in the niche market before developing the entire product design? 

MVP helps you test the compatibility of your product in the niche. Isn’t that something you would want for your business? MVP is the best strategy to save money and time. 

The market is flooded with innovative ideas for businesses. This in turn is creating a huge demand for MVP strategy.

So guess what? We have prepared a list of MVP related startup ideas that you can work upon!

Follow up!

MVP related startup ideas

The domain of business is ever-changing. 

Ideas that worked two years ago may not work that well now. Similarly, the ideas that you work upon now, may have been a total failure a few years ago.

Why is that? With evolving technologies, the market base is continuously shifting. People are expecting more. To meet the demands, start-ups are coming up and striking the right chords.

Also with the MVP strategy, it is easier to work on new ideas without draining all your resources.

Here’s the important part. The trick is to work on ideas that are the need of the moment. Keeping this in mind, we have the following list of MVP related startup ideas for you.

I am sure you don’t want to miss this.

1. Waste Management

Production services are the pillar of an economy. Even if the most advanced nations shift to a service-based economy, production is important.

Do you see where I am going with this?

Well, most manufacturing services require new technologies that help them develop sustainable growth. This is possible by improving productivity and minimizing waste.

A lot of developments have come in this field till now. However, a tool that reduces trial and error, delivering a waste management setup is still in demand

Here’s the best part!

Recently, Prince Williams has started a £50m drive, over a span of 10 years, to find solutions to clean mother earth by 2030. How great is this?

It is the most honorable environment prize in history. Why not get hold of the MVP approach and work on this?

2. Security Software

With the advent of technology, data privacy and security have become the need of the hour.

I know what you are thinking. How will a nascent start-up work for the security of a huge brand? Well, why not?

All that is required is a user-friendly product with suitable requirements and integration capabilities. This is a gold mine to explore for now. The pandemic has shifted the customer base to the digital world and security is a prime concern to date.

3. Travel / Tourism-related Software

Thanks to globalization, the world has shrunk for us. Traveling around the globe is no more a big deal, right? 

The industry has been growing all this time. 

However, with the global pandemic at play, certain loopholes have come up which can be worked upon. This is the time when people need to travel for essential needs that they can’t avoid. To make the process smoother, ultimate technical advancement is essential at this point.

And now you are thinking, why?  See, people will prefer social distancing as much as possible in the given situation. This is where you come in. This industry has always underutilized the use of AI in the field.  Why so? Privacy issues. 

So jump in and use the opportunity. 

Test the MVP strategy to balance between better usage, privacy, and third-party interferences. This is like a win-win situation for start-ups.

4. Food/cuisine related Start-ups

Cooking has become more like an art than a necessity in this fast world. People hooked on junk food either out of habit or necessity. 

And why wouldn’t they? It saves time and plays with the taste buds after all! Not all of us can cook decent food right?

So this is where you come in! How about developing a product that delivers food to your home and office?

I know what you are thinking. Numerous apps are doing this already. Yes, you are correct. So how about your app keeping a tab on the eating habits and offering nutritional suggestions? Integrate it with a health tracker, to make it healthy. 

Test the idea of using the MVP strategy and develop accordingly! An app that understands your food and health. How awesome is that?

5. Medical Start-ups

HealthTech is the need of the hour! The global pandemic has pushed people to use more technology in health care services.

The efficiency and precision have hit the market and there’s no turning back. Explore this field as much as possible with the MVP strategy and see the growth! Some start-ups have already started using machine learning and AI in this field. Amazing, isn’t it?

Get inspired by this and come up with a medical start-up idea.

6. Social Media Network

The users are saturated with social media giants like LinkedIn, Instagram, and Facebook. They are looking for some new already. 

Let me break this down.

Recent apps like Tiktok and Vigo have recorded huge success. This is for the innovation that they brought to the social media platform. And now you are thinking if you have to make similar apps. 

NO!

Social network platforms can concern hobbyists, professionals, and other people of the same niche.  All you need to work upon is innovation. With the MVP approach, the implementation will be risk-free and time-saving.

7. FinTech

FinTech is one of the industries that has been blooming for a long time. However, the pandemic has surged its growth to a different scale. How cool is that?

With the customer base shifting to the online mode, financial transactions have become a huge part of the show.There is still a lot of work to do in this field of FinTech, especially with the growth that it is experiencing. 

Use the MVP approach to get your ideas into action and the sky will be your limit.

8. Virtual Reality/ Augmented Reality

With the pandemic at play, the digital world is evolving at the fastest pace!  From gaming to health tech to EduTech, VR and AR are taking over the market. 

Let me tell you why.  

The scalability and versatility of VR/AR are unmatched. No one has explored much in this field till now. This is the perfect time to get started with it.  The MVP strategy is here to make the process easier, as it might need a lot of market testing.

The world has already recognized the gem in this form of technology. It is a competitive and in-demand field right now.

Get started now!

9. Cloud-based Software

Imagine if the software updates would make existing features easier to use. Wouldn’t that be nice instead of developing new features every time? 

For example, Frame, a startup then, developed software to run CAD and Adobe apps using any browser. Similarly, Google developed the cloud gaming service Stadia to revolutionize the gaming industry. 

See where am going with this? The catch is to find a loophole and work through it. With the MVP approach, it’s less risky and more effective.

10. AI (Artificial Intelligence)

As mentioned about VR and AR, artificial intelligence (AI), is evolving at a steady pace.  

Be it predictive analytics or superior business intelligence, AI is ruling the domain. Want to know the best part? It provides information about actionable data and accelerates the decision-making process. Again, with the pandemic ridden world, people have started exploring the wonders of AI.

However, it is still evolving and there are a lot of tools that you may work upon. So get hold of the MVP approach and start exploring the world of AI as an effective business strategy.

Overview

It all boils down to the fact that creativity and imagination are the basis of start-up businesses. All said and done, the next step that you need to include in your strategy is the MVP approach.

If not, you may end up losing a lot of time and resources, developing something that is still a probability. MVP is the best strategy to save money and time. 

Also, talking of MVP, if you are ready with an idea, reach out to us at TheCodeWork, to turn them into action.

We are a team of developers that work on building the MVP for start-ups. Contact us for more!

Till then, happy brainstorming!

Team TheCodeWork

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