Identifying Opportunities in Economic & Regulatory Trends

Economic Trend Opportunities

Opportunity #1:  Buildings that are more resistant to severe weather, especially for developing nations

a)     Found in an NYTimes article: “Investing in Climate Adaptation Can Spur Trillions in Benefits: Report”

b)     The article discusses how investing in technologies that would help people better adapt to climate change can save tons of money in the long run.  With lots of recent natural disasters and the effects of climate change really heating up, people around the world can see the need for climate adapting technologies.  Thus, people, businesses, and even nations may be willing to invest in safer infrastructure that will withstand climate change. 

c)     Prototypical consumer:  Homeowners devastated by the effects of climate events (who have enough money).  Perhaps prototypical consumers exist in places where climate resilient homes are uncommon.

d)    The opportunity is difficult to exploit because it would take many different experts to build climate resilient homes.  However, selling smaller items, such as tropical storm proof windows or flood-proof flooring may be much easier to exploit!

e)     Others may not notice the opportunity because the article simply talks about the importance of investing in these technologies.  It takes an entrepreneurship mindset to realize, “hey, this is how you actually can implement these needed changes.”

Opportunity #2:  Self-cleaning device for autonomous vehicles

a)     I was talking to my father, who is an engineer at Ford Motor Company, about autonomous vehicles.  He claims that self-driving cars will be widespread within the few years, and ride-sharing companies (ex: Uber) will deploy them to help transport people!

b)     If the cars are driving themselves around, no one is really the owner of the vehicle, and someone would need to clean the (inside of) the car on a regular basis.  However, having a self-cleaning machine would be much more efficient! 

c)     Prototypical consumer:  Now: rich people who don’t want to clean their cars… soon:  ride-sharing companies

d)    This opportunity is difficult to exploit, because someone would have to invent some sort of robot.

e)     I noticed this opportunity because I thought about the “life” of an autonomous vehicle, and I’ve been in some gross Ubers.  I mean, what if a nasty car came and drove itself to pick you up?  My personal thought process and experience caused me to notice this opportunity.

Regulatory Change Opportunities

Opportunity #3:  Water testing devices

a)    Found in a Washington Post article “Flint’s water crisis wasn’t just a blip. Our water standards need bold change.”

b)     The article mentions regulatory changes that should be implemented to ensure safe drinking water, specifically large changes to the “The Lead and Copper Rule.”  It also talks about how lead and other contaminants can cause harmful health affects, which most everyone knows.  However, due to recent issues with water, people may be worried about the quality of their own drinking water.  So, an opportunity may exist to sell a device that tests the levels of certain chemicals in your water.

c)     Prototypical consumer:  Anyone conscious about their household’s health who doesn’t want to hire someone to come test their water.  A simple, buy at the supermarket kind of device could give many citizens peace of mind.

d)    The opportunity should not be too difficult to exploit, as the technology already exists.  It is just a matter of getting it to retailers.

e)     Personal connection prompted me to notice the opportunity.  I am actually from Michigan, and several nearby towns had water problems.  My mother had our water checked to ensure it was safe because it smelled bad, and it was a little hassle.  A self-testing device would have been more convenient.

Opportunity #4:

a)     The NYTimes article, “Warren Challenges 2020 Democrats to Embrace 10-Year Clean Energy Transition” inspired this opportunity for me.

b)     It is probable standards for clean energy will increase in the future, and renewable energy is a rapidly growing industry.  Yes, there are solar panels and wind turbines, but there are also lots of environmentally conscious consumers that have small budgets for this technology.  However, the majority of Americans (and lots of people around the world) have smartphones and a drive to protect the environment.  Thus, the idea of a renewable energy powered phone charger came into my mind!  Perhaps it could be a portable device that could charge your smartphone on the go using solar power.

c)     Prototypical consumer:  Anyone with a smartphone that cares about renewable energy.

d)    The technology would need to be created, so the opportunity could take some effort to exploit.

e)     Pure creativity helped me think of this one.  I’m not sure if others would go down a similar mental route by reading the linked article.  However, I personally would use a portable charger that could “charge itself” on the go!