Tech startups other than fintech that deserve the spotlight
When tech startups make headlines, we often hear about one specific type: fintech.
But while the accomplishments in the fintech sector are impressive, it’s worth noting that, ultimately, fintech is only one subcategory of a diverse and fascinating industry.
And in fact, even within fintech itself, there are various subcategories, like insurtech and wealthtech.
Let’s take a look at a few underrepresented types of tech startups that are making their mark today. It's by no means an exhaustive list, but an interesting one nonetheless.
Just as fintech is a portmanteau of 'finance' and 'technology,' proptech (also called realtech) is a blend of 'property' and 'technology.'
Although the world of real estate isn’t usually considered to be the stage for the next big thing, proptech startups seek to spice up their field by creating new technological solutions that make the real estate marketplace more interesting.
Sure, it’s fun to window-shop for your future home on Rightmove - whether you’re looking at a place you can actually buy or a dream home you wish you had - but Rightmove is old-school compared to the new proptech companies of today.
And while it’s always a good idea to check out the food delivery options available before you move, proptech startups like OpenSignal, AirVisual, and WiredScore exist to help you evaluate some even more pressing concerns.
By utilising these platforms, you can measure the mobile signal quality, air quality, and digital infrastructure of any property you’re looking at.
These are pretty impressive abilities when you consider all the times that people move house and find that the WiFi regularly goes out or their phones are stuck in a perpetual dead zone.
These concerns are especially relevant to people who work from home, so it’s wonderful to see these helpful and progressive developments emerging from the proptech sector!
The term 'edtech' is sometimes used to refer to two different things. In some cases, advances in the field of edtech are used to address academic concerns about any aspect of the intersection between education and technology.
So, on one hand, educational technology can be something of a theoretical perspective which explores issues such as the impact of technological advances on our pedagogical practices.
Or it can also be a bit more hands-on, as in the implementation of new technology which is designed to enhance students’ learning.
Common forms of edtech include things we’re now very used to - such as tablets in the classroom, and Smart Pens that help neurodivergent students record lectures and take notes.
As well as more recent developments like interactive project screens, online lectures, and MOOCS (also known as Massive Open Online Courses).
Although some people are still in the process of adapting to the new wave of edtech, we’ve already seen some wonderful benefits that come from integrating technology in the classroom.
And the bright future of edtech indicates that we will continue to see better and bolder innovations in the years to come!
Femtech is a combination of feminism and technology. And although you might not think the tech sector needs a special category for women in tech, research shows that we really do.
Because, despite the fact that 60% of the world's university graduates are women and that women make 80% of the purchasing decisions in the world, only 15% of them ever reach management positions or start their own businesses.
And that’s especially true when it comes to the tech industry.
Given that women are woefully underrepresented in fields like STEM and in the entrepreneurial world, it’s important for the tech sector to make a concentrated effort at supporting female inventors, entrepreneurs, and startup founders.
And that’s exactly what femtech aims to do. The term 'femtech' was coined in 2016 by entrepreneur Ida Tin and since its inception, the femtech sphere has grown to encompass a wide and innovative range of startups and products, many of which are designed for women, by women.
Today, femtech companies include successes such as Progyny - which specialises in managing fertility opportunities for employees across the US- and Maven Clinic, a virtual women’s healthcare provider, along with startups like FOLX Health - which provides healthcare solutions for the LGBTQ+ community.
You could argue that all of those companies fall under the broader category of medtech. But in recent years, it's come to light that there are huge gender biases in medicine and medical research that only a specific focus on women's health can rectify.
Femtech is a bold and powerful example of successful innovation and shows that many of the women in tech are creating tech that can really make a difference.
So while fintech often makes headlines it’s good to branch out and learn more about the subcategories of the tech industry that are bursting onto the startup scene.
This information can be especially powerful for future entrepreneurs and innovators who may draw inspiration from underrepresented industries and apply their skills in a positive way.
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