At Launch Factory, we identify promising startup ideas internally through numerous sources and perform hundreds of hours of rigorous due diligence to identify innovative, scalable startup ideas for our future companies.
2021 Startup Ideas
The LegalTech market is one of the most promising spaces for disruption due to low penetration of new technologies, fragmentation, and new regulations. 20 million small legal disputes are brought to court every year, a process dominated by legacy technology and dense bureaucracy.
The LegalTech market is large, estimated at $8.5B, and it is attracting new investments with a 3x growth of venture capital deployed in the space in the last 3 years.
Launch Factory sees new opportunities opening up to support how users file, resolve, and enforce small legal claims. In addition, out of court alternatives, like digital mediation and arbitration, can unlock further value from small and medium businesses seeking efficient resolutions.
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Esports are booming and becoming an everyday experience. 36 million people in the US now participate in this market, most of them as casual players that like to compete with their social circle or watch streamed matches. In addition, Professional, Varsity and High school leagues are attracting a record number of players and sponsors. Prize pools have surpassed the $30M mark.
Record participation has pushed a fast growth ($958M in 2019, + 23% YOY), and the market is expected to expand at double-digit rates (+15.5% 2018-2023 CAGR).
Launch Factory sees space in the B2C segment, especially for ancillary plays. Among these, gaming training platforms have shown significant potential. Additionally, new B2B opportunities are now emerging to serve the growing professional operators in the space.
Increasing consumer awareness and recent regulatory changes are driving the growth in the data privacy space. This emerging market is expected to grow by $2.2B ($1.5B in 2020, +150%) over the next four years.
Launch Factory sees space for solutions that empower users in controlling their personal digital footprint across multiple digital platforms. Businesses also need more resources to manage the new regulations and sensitivity of the market. Additional opportunities are emerging to support digital businesses in the compliance and data management space.
Voice is becoming the favorite interface of digital services and products. Over a third of the US population is now using voice assistants (Alexa, Siri, Hey Google) on their smartphones and more than 87 million smart speakers. In addition, the vast majority of new cars sold today have voice recognition already built in.
Handsfree voice user-interfaces are unlocking new pockets of times previously served only by podcasts and broadcast media. New technology is empowering voice apps with engaging and sophisticated experiences at previously inaccessible moments.
Launch Factory sees significant potential in new voice-first solutions that can offer new times for learning and gaming. These solutions will provide brands with premium access to commuters and task jugglers.
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Learn more about our 2021 startup ideas.
Our ideation process helps us identify market trends and uncover unmet customer needs. We source ideas through internal brainstorming sessions, university tech transfer offices, corporate spin-outs, and startup reboots.
Our ideation process utilizes aspects of proven, user-centric methodologies like Design Thinking and Lean Startup.
These innovative frameworks help us identify and develop unique businesses that serve viable market opportunities.
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We source thousands of startup ideas
and perform 200+ hours of rigorous due diligence on each concept we choose to pursue
With ideas in hand, our team uses numerous criteria to further define and evaluate these opportunities and quickly eliminate failing ideas. This screening includes competitive market analysis, primary research, financial projections, and consultations with domain experts.
Final Idea Selection
Ultimately, this staged ideation and due diligence process identifies a select group of startup ideas that meet real customer pain points and generate innovative solutions that are desirable, viable, and feasible.
Building better startups
Our Ideation and Due Diligence process allows us to provide our entrepreneur candidates with vetted ideas that are ready to be launched. Our founders can be confident they’re pursuing the right concept and focus on what matters most: building a successful startup.
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