Startups in 2016 have an immense opportunity and calling for disruption. There has been quite a bit of talk about disruption in economies such as the sharing economy, delivery, and even wearable's. But, there are still so many industries that are still untouched, and can be impacted on a large scale.
Here are three areas that many entrepreneurs should be focusing on for the biggest disruption in 2016.
1. Student Loans
In this day of age, more and more students are graduating with college debt. In fact, according to Lendedu, 7 out of 10 colleges are graduating with some form of student debt. In fact, a majority of students in the U.S. graduate with $27,000 to $35,000, which is a global high in comparison to most universities globally.
Many universities are trying to implement programs such as Purdue, a top engineering college in Indiana, coming out with a model to allow private investors to invest in students. Instead of getting government involved with student loan crisis, getting money from businesses seems to be a common approach to fixing this nationally issue.
2. Restaurants
A major concern for restaurants in 2016 stems from high labor costs, turnover, and delivery programs such as UberEats, and Favor crushing distribution. Especially with strong distribution like Chipotle, it becomes difficult for a mom and pop Mexican restaurant to beat a high performing business.
In 2016, a uniqueness that comes with a towns locality, or specialty is what will make a mom and pop shop stick out from large chains. For example, David Burke's Primehouse in Chicago has top tier ice cream like "Grasshopper" and "Blueberry Muffin."
3. Public Education
Similar to student loans, public education, from k-12, to college is becoming a concern for students, but parents as well. In short, public education is being scrutinized for lagging behind in the STEM areas, which include science, technology, engineering, and math on a global scale.
Unique programs such as the CAPS program are changing the way that students learn. As an alumni of the program, I had the opportunity to dive deep into many areas of not only business, but technology, and even life sciences.
A student may want to take the technology they have built in the lab and take it to a business wing to create their business plan, have the legal department look over and file their patents, and get students building startups, all in high school!
Conclusion
Many startups are changing the way we do what otherwise would be arduous tasks on a daily basis. They are transforming student loans, the restaurant industry, and even traditional education!
What are some areas worth disrupting in 2016?