AI-generated summary
In 2024, starting a new business or launching a startup is highly promising, supported by significant growth in investment, especially in sectors such as Fintech, Travel, Mobility, Real Estate technology, Big Data, and Health. Despite a slight decline in the number of deals, the value and scale of investments have surged, with notable mega rounds exceeding 50 million euros. Key transitions are evident as traditional industries like fossil energy, physical retail, and automotive evolve toward renewables, hybrid commerce, and electric mobility, respectively.
The future business landscape is shaped by profound social, economic, and environmental transformations. Green technologies—encompassing renewable, sustainable, and clean energy—are at the forefront, driven by global eco-social shifts and demanding substantial capital. Ecommerce continues to revolutionize retail by meeting consumer expectations for 24/7 access and seamless online-offline integration. Artificial Intelligence has emerged as a critical sector, with soaring demand for AI-driven solutions across industries. Digital health is expanding rapidly, fueled by innovations in telemedicine, wearables, and data-driven healthcare.
These sectors are deeply interconnected, collectively supporting sustainable development goals and the 2030 Agenda. Investing in these areas not only addresses urgent global challenges but also offers substantial economic and quality-of-life benefits, making them the most attractive and secure opportunities for new ventures in 2024.
New businesses and sectors are opening up in a more sustainable future, and those looking to open a startup need to know what these key sectors of the new economy are
Currently, a large number of people show interest in undertaking new business projects, as well as companies are looking for new sectors to grow into. Being able to choose that new sector in which to start the new activity is a complex task, because understanding which sectors are growing, which are maintained and even which ones to avoid due to their present or future recession is key when starting a startup or undertaking in a certain direction. In this article, you will find the most promising sectors in which to start a business in 2024.
Is 2024 the year to start a business?
The first thing to analyze is whether the present, in this case 2024, is a good year to start a business. And the reality is that yes, the end of 2024 is indeed a good time to start a startup and open a new business, as indicated by the figures collected by the Bankinter Innovation Foundation Observatory and which are summarized in:
- The volume of investment in startups has grown by +38% from January to September compared to the same months in 2023; and the third quarter has reached 92% of the investment volume for the whole of 2023.
- Although the number of operations has decreased by -8%, the amount of Mega Rounds – investment rounds that exceed 50 million euros – has increased by another +38%.
In this analysis, it is worth highlighting which sectors have had the most activity: Fintech/Insurtech, Travel and tourism, Mobility and logistics, Business and productivity, Real estate plus innovative technologies in that sector, Big Data and its analysis, Health and well-being.
It is also advisable to pay attention to those sectors from which they are divesting or modifying their business, especially fossil energy towards Renewables; physical Retail towards dual online/offline; traditional automotive towards renting, fleet carsharing , electric and micromobility; traditional real estate towards proptech, among others.
Sectors to invest in in 2024
The whole world is immersed in a social, economic and environmental transformation that is modifying practically all sectors of activity. Digitalisation continues as green technologies produce more and more of the energy consumed (which continues to increase) while citizens demand services that are more respectful of people and the environment, or new forms of consumption based on demand. How does this translate into investments by sector? Where are the new opportunities?
‘Green’ technologies: renewable, sustainable, clean, living
Citizens’ concern for preserving the environment for future generations, that is, for environmental, social or economic sustainability, is growing. Governments around the world transformed energy economies thanks to green premiums, and today we are experiencing an eco-social transformation like never before in history. In less than a decade , the bulk of the world’s energy will be green, specifically sustainable, renewable and clean. In some cases, it is even alive, as in those sectors of biotechnology that analyse carbon sinks with algae or vegetation that faces the climate crisis.
This “ecological transformation”, which is nothing more than a change of paths from an unsustainable model to a sustainable one, requires heavy capital investments and offers enormous benefits both purely economic and in terms of quality of life (also valued in monetary units). It is not surprising that more and more roofs have photovoltaic or thermal capture panels, a trend that is growing at the same pace as all support activities: electricity demand management, technical projects, assistance to communities and municipalities, etc. Green technologies are the future, and their development requires startups that, in turn, will seek investment.
Ecommerce, the future of the shop window
Online sales are one of the most frequent alternatives and complements to traditional and local commerce, and ecommerce platforms are the way to be present on the internet. Because this is the key, even if it is complemented by physical presence, which is still recommended (location, location, location).
Shoppers have become accustomed, and are increasingly demanding, for stores to be available in digital mode for multiple reasons: they operate 24 hours a day, allow you to see product inventory and facilitate shipments or local pickups. The customer wants, above all, certainties, and there is less and less physical search store by store. Those businesses without a website, social network or similar virtual space will have significant challenges, and that requires the startup ecosystem to continue supporting this digital way of entrepreneurship.
Artificial Intelligence, a new basic sector
Until a few years ago, AI was a sector aimed at a very few large companies. However, artificial intelligence has now become a new basic sector that is directly demanded by large companies, small and medium-sized enterprises, and the population. The volume of professionals in demand and companies needed in the sector is considerable, with estimates that call for a fivefold increase in
Digital health, a growing market
The population’s concern for health has been a universal pulse, but it is at this historical moment when it is possible to increase the years of additional life (VALY) that count the years of extra life that are worth living because they have a more robust health. In this area, startups focused on health, and specifically on digital health, have grown considerably, but there is still a need for trainers, medical professionals, health applications, programming and optimization of wearables, AI and BigData, telemedicine or digital mental health.
Complexly interrelated sectors
Most of the points in the previous section are strictly related to each other, so that it is often complex, if not impossible, to separate them. For example, it will soon no longer be possible to advance in digital health without artificial intelligence tools developed by startups, or it will be necessary to integrate e-commerce into local face-to-face commerce that promotes the walkability of cities that have years of healthy life.
Likewise, all green technologies will require digital backups with smart grids and, again, improve the health of the population. To a large extent, almost all emerging sectors work directly or indirectly with goals such as those set out in the Sustainable Development Goals and the 2030 Agenda, because the booming sectors where it is ‘safer’ to invest with new start-ups are also the sectors that are most needed for a sustainable future.
