With technology revolutionizing the major aspects of global business ecosystem these days, starting a tech venture in 2023 that will live and earn beyond 2030 seems to be a highly lucrative decision. If you too are a technopreneur, or planning to become one, here is a short, quick, yet effective guide on building a tech startup in one of the fastest growing tech hubs in the USA – New York City.
Trending Tech Startup Ideas
While there are a lot of big and small tech-based ventures you can consider investing in, here are three most popular and financially rewarding:
Build a mobile app
One of the most convenient business ideas for 2022 is develop a mobile app, whether android, iOS or a cross platform application that works on major devices plus browsers.
To initiate this startup, you need to hire an app development company in NYC with a strong portfolio of previous projects, decent development rates and credible social proof with testimonials.
For this type of business, you’ll need an investment of around $65,000 depending on the scope of your app, the problem it solves, the features it provides and the technologies it uses.
For idea, there are three niches that are growing super-fast and offer best monetization models: healthcare, blockchain and business apps.
Work with this development company on a business plan and development strategy outlining the platform you wish to launch for. For example, if you want to host your app only on Google Play, you’ll need their Flutter app development services. If you wish to introduce an iPhone app, you’ll need iOS development services. If you wish to launch for both devices, you can go for Flutter because that is cost-efficient.
Build a SaaS
Software programs have always been of great utility for individuals to businesses. Look at programs like Microsoft Office, Skype and Adobe Creative Cloud that have maintained their history of success for years. And now consider case studies like Canvas, Google Workspace, Figma and Zoom, that, with cloud implementation and 24*7 remote access have challenged the streak and given the right competition.
SAAS – or call them Software as a Service tools are getting trendier because they have eliminated the need for downloading or installing or buying one off. Users can incur subscription charges and love the pay-as-you-go model inherent to SAAS tools.
For launching a SAAS tool, you need a strong idea that targets business users, then hire a custom software development company and bring it to digital reality. You can also choose to launch an MVP first, then upgrade it with advanced features after testing the market.
A SaaS tool requires an investment of around $200,000 for development and almost $3000 initial budget for marketing.
Build a cloud game
Last in this list is a tech startup idea that comes with a pricey investment, but once it skyrockets, it becomes a dynamic, revenue-generating machine for their technopreneurs.
Like SAAS, cloud games are of course also hosted on cloud services. Players can avail a fluid playing experience from different devices depending on the scope of your game, without the need for download or installation.
Look at examples of Counter Strike, PubG, GTA, Dead Estate, and Star Wars. In the gaming sector though, it is ideal to deliver unique and diverse game content, rather than replicating an existing model or idea. To innovate and create attractive demand, you can choose to launch a game with Virtual Reality, blockchain play-to-earn capacity, Internet of Things, Bluetooth Low Energy and beacon technology and machine learning algorithms.
A multi-featured, cloud game with stunning graphics and high-end user experience will cost you a hefty $250,000+, but you can choose to monetize through a variety of channels. On mobile app stores, you can choose from free to sponsored content with freemium and in-app purchases model. On Nintendo and Steam, you can choose to sell premium subscriptions.
Again, a custom software development company, or a typical app development company in NYC would be ideal to develop a cloud game, but you’ll have to check if they have a portfolio in game development and cloud native development services, with at least Aws, Google Cloud or Azure.
To test the market and competition for your game content, you can choose to develop an MVP for a specific operating system. For this, you can choose to outsource your game project to a company offering iOS or Android app development services, test, launch and analyze where you can sustain and scale.