When you think of startup ecosystems, the first thing that comes to mind is the big stage with many big names. However, as more and more small businesses pour their heart and soul into launching successful business ventures, it becomes evident that there’s a lot of room for lesser-known startups.
This article by Kendrick Elkins will take you through some early-stage startups you should look out for in 2023. These startups may have a different visibility than their more well-known counterparts, but they’re worth watching.
Five Startups To Keep Your Eye on
Do you ever get the feeling that your industry isn’t moving as fast as it should? There’s always another startup looking to create new value and disrupt existing business models. It can feel like a race to the bottom — especially when you see so many companies falling by the wayside. As a result, you might feel like your own opportunities are being buried by competition from established giants.
So, how do you keep up with the times? Keep an eye on startups that interest you, but also consider their potential for future growth. When deciding where to put your money next, think about which startups piqued your interest in 2023 and why. In the next section, Kendrick talks about five that stand out.
1. HoloToyz
HoloToyz wants to give kids a fun and safe way to play and learn with augmented reality by pairing stickers, tattoos, books, and wall decals with an app. In the company’s app, 3D animations and graphics bring its many products to life.
Kate Scott, the company’s CEO, and Declan Fahy, its sales director, started the company in 2021. They quickly made licensing deals with two of the biggest companies in their fields, Nickelodeon and Sega. Last year, Scott said, “By finding the right balance between digital and physical play, we are introducing exciting new technologies to young children in a safe environment.” Scott also stressed the significance of the user experience.
2. Kwayga
Last year, Martin Fitzgerald, the CEO, and co-founder of Kwayga said that the company is like a trade show that never ends. Kwayga is a subscription service that started in 2021 and has its headquarters in Cork. It helps buyers and sellers in Europe’s food and drink industry get in touch with each other.
Its main selling points are an automated verification system and a messaging hub that helps companies communicate with each other even when they don’t speak the same language. The use of live interpreters and text translation facilitates conversations between speakers of various languages. Since May, Kwayga has been used by people in 37 different countries. Free “freemium” plans are available to new users who sign up.
3. Outmin
Outmin, which came out in 2020, was made to make starting and running a new company easier. The Dogpatch Labs startup can help Irish and British small businesses with their books, finances, and taxes. These services are done with the help of financial experts and specialized software.
David Kelleher, Ross Hunt, and Conor Ryan started Outmin. In February 2021, the same month Outmin went on sale to the public, they hired their first full-time worker. It has more than twenty full-time workers and plans to open in Canada in August 2022.
4. Trigr
Gavin Duffy started Trigr, a resource planning platform for the media industry, intending to make it the next Oracle or SAP. The platform makes it easy for media companies to keep their projects on track and stay within their budgets. Trigr says it can save up to 9 percent a year on operating costs.
The company has offices in Galway, Ireland, and works with groups like the Association of Independent Music (AIM) and the British Phonographic Industry (BPI) in Ireland and the UK.
5. Zipp Mobility
Zipp Mobility, founded in 2019 by CEO Charlie Gleeson and has its headquarters at NovaUCD, is a major player in Ireland’s micro mobility market. The company’s shared e-scooters and e-bikes are available in cities across the United Kingdom and Poland. They plan to expand to other European countries, such as Spain and Ireland.
Zipp started a bike-sharing program for electric bikes in Dublin last year and is one of many new companies getting ready to enter the Irish electric scooter market once the rules are set.
Things To keep In Mind
When you invest in a startup, it’s important to remember the key factors that will impact your return on investment (ROI). This includes:
- Evaluating the company’s potential.
- Assessing its stage of development.
- You should also be aware of potential risks, such as market saturation or a lack of traction.
- Finally, factor in the time required for your investment to pay off.
The Bottom Line
The above-mentioned five startups are the ones you should look out for in 2023. These companies are aspiring and innovative, and they will make a significant impact on the world. If you’re interested in investing in these startups, keep an eye on them! They’re worth keeping an eye on, so don’t miss out – check them out now!
