Even though the statistics are not in favor of startups (9 out of 10 startups fail), some of them are definitely worth looking at. There are ways to increase the chances for your startup to succeed. The biggest opportunity lies in creating a startup that addresses people’s needs. Here, I want to introduce some new startups that may inspire you and also discuss what our society needs in 2024 and the direction we are heading.
1. Treecard
Established in 2020, Treecard was founded with the mission to simplify sustainable living choices for individuals.
Their innovative approach involves offering a wooden debit card that, through a collaboration with Berlin-based Ecosia, contributes to tree planting with every purchase made by users.
Treecard aims to empower individuals to actively participate in climate action on a daily basis. Their wooden debit card seamlessly integrates with users’ existing bank accounts and allocates 80% of the profits from merchant transaction fees towards tree planting initiatives. Additionally, Treecard offers accounts with no monthly fees, loading fees, or foreign currency fees, coupled with a competitive 3% APY, positioning it as a leader in the market.
It’s also a great way to attract young customers who care about the environment. 82% of Gen Z expresses concern about the state of the planet, and an impressive 72% have proactively altered their behavior to diminish their environmental impact.
2. Score
Introduced on Valentine’s Day 2024 by Neon Money Club, Score stands out as a unique dating platform tailored for individuals with solid to exceptional credit scores, aiming to underscore the significance of financial compatibility in relationships.
Prospective users of Score undergo an Equifax credit assessment during registration, with only those achieving a score above 675 being eligible for membership (in the US, the highest score is 850, whereas in the UK it’s typically 999).
While specific scores remain undisclosed on profiles, mutual interest is established among individuals who have passed the same credit evaluation. Rejection doesn’t equate to exclusion; the app provides comprehensive guidance to help individuals improve their credit standing.
Navigating the dating scene in one’s twenties and thirties often reveals the challenges in reaching milestones once taken for granted. Creditworthiness has evolved into a vital marker of adulting, extending beyond home ownership to include even basic rental accommodations, subject to increasingly stringent credit scrutiny.
Additionally, there’s a contemporary trend towards “D.I.N.K.”, which is an acronym for “Dual Income No Kids” where couples opt out of parenthood to prioritize shared experiences, such as travel and possessing goods, over the financial responsibilities associated with raising children. So Score seems like a good opportunity to meet your partner. Is falling in love at first sight just a thing from the past? Welcome to “show me your wallet, and I’ll go out for dinner with you” era.
3. RunwayML
Runway, an AI tool tailored for artists to craft AI-generated media such as video, audio, and text, has been steadily ascending since its establishment in 2018.
In June, Runway secured a substantial $141 million in funding, propelling its market valuation to an impressive $1.5 billion. Furthermore, the startup earned a spot on the TIME100 Most Influential Companies 2023 list, standing shoulder to shoulder with industry titans like Nvidia and SpaceX.
The growing enterprise client base isn’t surprising, considering the massive hype around all forms of generative AI. According to a recent FreshBooks survey, 25% of businesses said they’re testing generative AI tools, while around 33% plan to try generative AI for work within the next year.
- Content creation today is very expensive and time-consuming – said Runway CEO, Cris Valenzuela. – We want to help bring those cost and time factors as close to zero as possible, especially as companies’ content needs are only increasing… Our goal is to reimagine content creation and build a new type of creative suite, the generative suite.”
Adding to its accolades, Runway recently forged a partnership with Getty Images, a leading source of premium stock imagery, to develop a groundbreaking generative AI model named ‘Runway,’ tailored for the film and advertising sectors. Anticipated for release next year, this innovative model promises to further revolutionize these industries, setting the stage for an exceptionally promising 2024 for this disruptive startup.
Interesting startups to look up in 2024
The startups presented above are just a few examples out of a wide range. Startups are the answers to the needs our society has. They usually offer solutions for modern problems and highlight upcoming trends among new generations.
Treecard addresses ecological problems, demonstrating that younger generations care about our planet. Score proves that we are now tending to choose stability over the “love can overcome any problems” approach. Additionally, RunwayML is making the work of content creators more efficient and faster due to the new technologies we discover. So, say hello to 2024, the year of sustainability, reasonability, and the smart working era.
If you need help with your startup company, contact us. We can assist you with marketing as well as all the technical aspects.
