Business ideas

Five New Business Ideas EJINSIGHT

Faced with a sluggish global economy, Hong Kong is also experiencing a slowdown, but this can provide a golden opportunity to start a business. The cost of starting a business has gone down which, combined with various government subsidies and increased public use of the Internet, has helped create new business opportunities. Recently I came across some entrepreneurial ideas at CB Insights, a market intelligence company, I would like to share some of them with you.

The first two concern children and the third targets businesses:

1) Unique child development platform

Children have resumed in-person lessons, meanwhile, many parents are planning how to take advantage of the summer vacation in August, either traveling overseas or staying in Hong Kong depending on the quarantine policy.

The one-stop child development platform, like TripAdviser for children, helps parents to plan summer vacations, it contains parents’ and children’s feedback and the evaluation of activities organized by different organizations, and allows you to filter by:

• Subject/theme — academic, sports, fun, religious, etc.
• Type – overnight or day, virtual or in person
• Cost

Additionally, the platform can be expanded to include year-round extracurricular activities and tutoring to maintain a stable service throughout the year. Currently, there are companies in Hong Kong that organize children’s activities, but they rarely manage their database of parents and children effectively. They do not plan the business as a whole like the website of a travel agency in the management of air tickets, hotel, catering and tourist attractions. Indeed, from kindergarten to university, in addition to the various learning and development needs, there is no shortage of business opportunities.

2) AI layers

High performance nappies are super absorbent, they are designed to be more comfortable and easier to clean, they can detect when a baby is about to leave, helping with potty training. More importantly, diapers can take excretions and predict disease through AI analysis.

Parents lose their minds when spending on their baby, especially on anything that gives the baby an edge in early development. This AI diaper is expected to be expensive, but super parents will surely rush to follow the trend.

3) B2B Software Group Buying Marketplace

Hong Kong consumers have long enjoyed the benefits of a discounted price when buying in bulk. If a startup also aggregates demand from SMEs looking for software, such as customer relationship management (CRM), business intelligence (BI) for business analytics, marketing automation (e.g. , sending welcome or service reminder emails, birthday or anniversary messages, customer surveys), and cloud storage, it can then connect that demand to supply (suppliers) and negotiate reduced rates and better terms on behalf of customers in exchange for aggregate demand.

4) Automatic meeting notes for internal meetings

While there are many startups now transcribing Zoom calls, this startup summarizes key points, tasks, and individual follow-ups during internal meetings, and automatically sends the transcripts to attendees. Most software only targets meeting planning and facilitation, this new service ensures that internal discussions are recorded after a meeting.

5) Startup Executive Search Platform

When a startup grows to a certain scale, it will need to recruit managers with operational experience. This headhunting platform not only allows searching by industry, but also lists candidates’ previous work experience (e.g. who brought a company to a particular scale, who was involved in an IPO ), job-specific functions (e.g., people with product management or marketing experience), or workplaces (e.g., people with work experience in Shanghai).

It would be even better if the scope of the search could include more high-level candidates for positions as important as administrators.

— Contact us at [email protected]

Dr Winnie Tang

Adjunct Professor, Department of Computer Science, Faculty of Engineering; Department of Geography, Faculty of Social Sciences; and Faculty of Architecture, University of Hong Kong

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