The best industries for starting a business in 2023

Dr Jae Kang | Oakland University

7 Jan 202303:49

Summary

TLDRIn this interview, Associate Professor Jacob discusses the promising industries for starting a business in 2023, highlighting the automotive sector's shift towards electric vehicles. He identifies Texas, Florida, North Carolina, Georgia, and Arizona as top states for startup growth. Jacob suggests state authorities should focus on attracting high-tech startups that align with their core industries, such as Michigan's automotive industry, to foster an integrative business ecosystem. He also emphasizes the importance of designing public policies to attract international startups.

Takeaways

🚗 The automotive industry is expected to see significant transitions, particularly towards electric vehicles, which presents opportunities for startups.
🌟 The top five states with the highest numeric growth in startups between 2021 and 2022 are Texas, Florida, North Carolina, Georgia, and Arizona.
🔍 Three key sectors in the automotive industry for startups are connected cars, autonomous driving, and electric vehicles.
🤝 Collaboration between big companies and high-tech startups can foster development in the automotive industry.
📈 High-tech startups advancing the automotive industry are likely to experience entrepreneurial growth.
🏙️ Detroit is recognized as a top emerging startup ecosystem, highlighting Michigan's role as a high-tech hub in the Midwest.
🧐 State authorities should consider population movement and job opportunities in specific industries to attract entrepreneurs.
🌐 Michigan's strength in the automobile industry can be leveraged to attract innovative businesses.
💡 The success of startups can be measured by their ability to change consumer behavior patterns through transportation innovation.
🌐 State governments should attract high-tech startups that complement existing core industries.
🌐 Policies should be designed to attract international startups to the state.

Q & A

2023年哪些州的创业活动增长最快？
-根据美国人口普查局的数据，2021年到2022年间创业活动增长最快的五个州是德克萨斯州、佛罗里达州、北卡罗来纳州、乔治亚州和亚利桑那州。
汽车行业在2023年的发展趋势是什么？
-汽车行业在2023年将继续从内燃机向电动汽车转型。这一转型可能涉及三个主要领域：联网汽车、自动驾驶和电动汽车。这些领域可以通过与大公司和高科技初创公司的合作共同发展。
为什么密歇根州被认为是高科技中心？
-Startup Genome 2022全球创业生态系统报告将底特律认定为顶级新兴创业生态系统，进一步强调了密歇根州作为中西部高科技中心的地位。
州政府可以采取哪些措施来吸引创业者在本州创业？
-州政府可以深入研究人口流入和流出情况，特别是特定行业的工作机会。每个州都有独特的优势来吸引创业者创办新企业。例如，密歇根州以汽车工业的发源地而闻名，吸引了许多带来创新商业解决方案的公司。
2023年哪些行业是创业的最佳选择？
-2023年创业的最佳行业包括人工智能、医疗保健、网络安全、绿色能源和在线零售。这些行业的增长迅速，为创业者提供了丰富的机会。
为什么佛罗里达州在2022年的创业投资增长最大？
-佛罗里达州在2022年的创业投资增长最大的原因包括没有州所得税、近年来成功的退出案例，以及COVID-19大流行期间的人口迁移。此外，佛罗里达州被视为进入拉丁美洲市场的自然入口点，这也使其成为一个有吸引力的地点。
北卡罗来纳州的创业生态系统有何特点？
-北卡罗来纳州的创业生态系统具有多样性，包括研究和生物技术、游戏公司Epic Games和开源软件巨头Red Hat的成功案例。该州在企业软件、深度技术、人工智能和金融科技等领域都有显著增长。
2023年美国哪些州的商业环境最好？
-2023年美国商业环境最好的州包括北卡罗来纳州，它因经济繁荣而再次被评为商业最佳州。
为什么德克萨斯州在2023年的商业排名中跌出了前五？
-德克萨斯州在2023年的商业排名中跌出了前五，这可能是由于基础设施、犯罪和LGBTQ权利等问题的影响。
2023年全球创业经济的现状如何？
-尽管COVID-19疫情初期给创业公司带来了阴影，但最终通过加速数字化推动了创业行业的发展。科技领域的公司增长速度是非科技领域的2.3倍。尽管大约90%的创业公司完全失败，但研究表明，只有1.5%的创业公司——或者说存活下来的大约15%——能够实现超过5000万美元的成功退出。

Outlines

00:00

🚗 Automotive Industry and Startup Growth in 2023

Jacob, an associate professor of Entrepreneurship, discusses the promising industries for starting a business in 2023. He highlights the automotive industry's significant transition from internal combustion engines to electric vehicles as a key area for entrepreneurial growth. Jacob identifies three major sectors within the automotive industry—connected cars, autonomous driving, and electric vehicles—that offer opportunities for collaboration between established companies and high-tech startups. He also notes the importance of states like Michigan, recognized by Startup Genome's 2022 Global Startup Ecosystem Report as a top emerging startup ecosystem, in fostering this growth. Jacob suggests that state authorities should consider population movement and job opportunities as indicators to attract entrepreneurs and that designing an integrative business ecosystem is crucial for success. He emphasizes the need for states to attract high-tech startups that can complement existing industries and mentions the importance of attracting international startups.

Mindmap

Keywords

💡Entrepreneurship

Entrepreneurship refers to the process of designing, launching, and running a new business which starts as a startup. In the context of the video, entrepreneurship is the central theme as the speaker, an associate professor of Entrepreneurship, discusses the best industry for starting a business in 2023. The script mentions how different states in the U.S. are likely to see an increase in startup activity, which is a direct result of entrepreneurial efforts.

💡Automotive Industry

The automotive industry involves the design, development, manufacturing, marketing, and selling of motor vehicles. It is highlighted in the script as a sector undergoing significant transformation, particularly with the shift from internal combustion engines to electric vehicles. The video suggests that this transition presents numerous opportunities for startups, especially in areas like connected cars, autonomous driving, and electric vehicles.

💡Electric Vehicles (EVs)

Electric vehicles are those that run on electric motors rather than internal combustion engines. The script points out that the automotive industry is transitioning towards EVs, indicating a growing market for related startups. This shift is part of a broader trend towards sustainable and clean energy solutions, making EVs a key area for entrepreneurial growth.

💡Connected Car

A connected car refers to a vehicle that is capable of connecting to the internet and exchanging data with external devices. The script mentions connected cars as one of the three major sectors in the automotive industry where startups can innovate. This technology is integral to the development of smart vehicles that can communicate with each other and infrastructure, enhancing safety and efficiency.

💡Autonomous Driving

Autonomous driving, also known as self-driving, refers to technology that enables vehicles to navigate without human operation. The script identifies autonomous driving as a sector within the automotive industry that is ripe for entrepreneurial growth. This technology is a significant part of the future of transportation, promising increased safety and new business models.

💡Startup Ecosystem

A startup ecosystem comprises the network of organizations, companies, and individuals that support the growth and success of startups. The script references the Startup Genome 2022 Global Startup Ecosystem report, which recognizes Detroit as a top emerging ecosystem. This highlights the importance of such ecosystems in fostering entrepreneurial growth and innovation.

💡State Authority

State Authority refers to the governing bodies or agencies at the state level that have the power to implement policies and regulations. The script suggests that State Authorities can play a role in increasing entrepreneurial activity by analyzing population movements and job opportunities. They can also design integrative business ecosystems to attract entrepreneurs and startups.

💡High-Tech Hub

A high-tech hub is a region known for its concentration of technology and innovation companies. The script mentions Michigan as a high-tech hub in the Midwest, particularly for its role in the automobile industry. Such hubs are critical for attracting startups that can contribute to the advancement of key industries within the state.

💡Inbound and Outbound Population Movement

Inbound and outbound population movement refers to the flow of people into and out of a region. The script suggests that State Authorities should consider these movements when trying to attract entrepreneurs, as they can indicate job opportunities and the overall economic health of an area. This can be a key factor in the success of startups.

💡Consumer Behavioral Patterns

Consumer behavioral patterns refer to the habits and trends in how consumers buy and use products and services. The script discusses how startups need to consider whether their business solutions can effectively change these patterns to be successful. Understanding and influencing consumer behavior is crucial for startups aiming to disrupt existing markets.

💡Transportation Innovation

Transportation innovation refers to advancements in the way people and goods move from one place to another. The script highlights transportation innovation driven by high technology as a key area for state governments to focus on when attracting high-tech startups. This includes innovations in electric vehicles, autonomous driving, and connected car technologies.

Highlights

The best industry for starting a business in 2023 is the automotive industry, specifically transitioning from internal combustion engines to electric cars.

Top five states for numeric growth in startups between 2021 and 2022 are Texas, Florida, North Carolina, Georgia, and Arizona.

Three major sectors in the automotive industry include connected car, autonomous driving, and electric vehicle.

Collaboration between big companies and high-tech startups can drive development in the automotive industry.

High-tech startups advancing the automotive industry are likely to experience entrepreneurial growth.

Detroit is recognized as a top emerging startup ecosystem, highlighting Michigan's role as a high-tech hub.

States contributing to the automotive industry's advancement will likely see an increase in startup activities.

State Authorities should consider inbound and outbound population movement to attract entrepreneurs.

Michigan's unique advantage as the home of the automobile industry attracts innovative business solutions.

The success of business solutions is determined by their ability to change consumer behavioral patterns.

State governments should attract high-tech startups that complement existing core industries.

Attracting international startups is important for states to foster a diverse and innovative business ecosystem.

The importance of designing an integrative business ecosystem for the success of startups.

The challenge for state governments is to create public policies that attract and retain innovative startups.

The potential for startups outside the United States to contribute to the local business ecosystem.

The need for states to develop measures to attract foreign and international startups.

The interview concludes with a wish for the best for future entrepreneurial endeavors.