Four Emerging Industries of 2021

This year’s top emerging industries truly were shaped by the events of 2020. From shifts in new laws to the increasing interest in biotechnology, our selection of emerging industries of 2021 shouldn’t be shocking but still something we want to review with our readers. 

Cannabis 
With more states approving cannabis legalization in the November 2020 election, the doors for cannabis startups will only open further with the Biden administration, which has already publicly stated its support for cannabis decriminalization. As COVID-19 is reducing economic activity in many US cities, cannabis sales, especially for recreational use, are an opportunity to help fill in budget gaps for many governments with New York’s Governor Cuomo already announcing plans to legalize.

Biotechnology
In the last 2.5 months alone, the biotechnology industry has raised $3BN+ in funding, with rounds as large as $900MM in one case. Even despite the Theranos scandal, the advancement & possibilities of biotechnology, and the need for biotech in the wake of the pandemic, mean investors are more than willing to pour money into future products and services. Some recent mega-rounds include Tessara Therapeutics, Beam Therapeutics, EQRx, Affinivax, and Pacific BioSciences of California. 

Sustainability-driven businesses
Sustainability continues to be a trend, as it has been for the last few years. In addition to being good for the environment, businesses that are socially responsible will be even more likely to beat the competition in the future. While not entirely an industry, sustainability companies are making sure they are building an inclusive and sustainable business by undergoing certification as B corporations. These companies are now emerging as winners for investors, their customers, and as employers of human talent.

Telehealth
Telehealth, fast-forwarded by the pandemic, has allowed many of us to dismiss an average cold through over-the-counter medication with a simple video consultation right from the comfort of home. As digital health becomes easier to access, it’s no surprise that investments have poured into telehealth and healthcare startups with many megadeals of $100M+. As more health companies like Sharecare and Clover Health are exiting via SPAC, the telehealth or digital health sector growth does not seem to be slowing down.