Editor’s note: This article was first published in January 2015 and draws on a 2015 report; its projections and statistics on water demand to 2050, deaths from non-communicable diseases, urbanisation, disaster deaths and the growth of green bonds come from that report.
“Find a problem and solve it”: that is the premise on which great companies are born. And there is certainly no shortage of problems, nor will there ever be.
The Global Opportunity Report 2015 lists a large number of challenges we will have to face in the coming years. Those problems, in turn, become business ideas and opportunities for some.
1. The shortage of fresh water
It is estimated that by 2050 global demand for water will rise by more than 50%. Drinking water is not currently a right everyone can enjoy, and demand for water could become a problem, even though three quarters of our planet is water.
Business opportunities in this area range from producing fresh water and building desalination plants to water-efficient agriculture, as well as any innovative system that promises to use resources efficiently. And we should not forget the most immediate problem: getting water to those parts of the planet where, sadly, water is a luxury.
2. Urbanisation
More than half of the world’s population now lives in urban areas, a trend that will only grow as the years go by. The problems that come with managing a growing population include sanitation, energy use, transport and quality of life.
Business opportunities here could include developing more compact, greener and better-connected cities, what have come to be called smart cities. These could, for example, switch on the street lights only when they detect people or cars passing by, or have rubbish bins that automatically send a message to the people in charge of emptying them as soon as they are full.
Homes, likewise, will tend to become smart, thanks to the combination of energy efficiency, home automation, robotics and green materials.
3. Non-communicable diseases
Cancer, diabetes and cardiovascular disease account for around 68% of all deaths worldwide. They are also a significant threat to economic development, because they place a heavy burden on healthcare systems. And these diseases are increasing by leaps and bounds.
In terms of business opportunities, anything to do with preventing these diseases will clearly be highly profitable, from diets and exercise to mobile apps and services that help people lead healthier lives.
Not to mention the many solutions still waiting to be found to avoid, prevent or fight these diseases that devastate the population.
4. Extreme weather
According to the Global Opportunity Report, natural disasters have claimed more than 2 million lives over the last 30 years, and since 1992 storms and floods have caused losses of more than 30 billion.
Heatwaves, droughts, floods and storms are expected to become more frequent and more severe in the coming years, so there are still many innovations to be developed in this sector, from early warning and forecasting services to green bonds, a market that has tripled since 2005.
5. Alternative fuels
The development of cleaner innovations and alternatives is still being held back today, but sooner rather than later governments will have to stop giving in to the interests of the established fuel industry and make way for cleaner forms of energy.
Alternative fuels will therefore become a potential opportunity for entrepreneurs who have some kind of innovation or technology in mind. Fortunately, there are currently many competitions that fund the best ideas in energy efficiency.
You can download the full report free of charge here (in English).
Further reading
- 18 business ideas you can start with almost no money
- 11 profitable micro-business ideas
- 3 industries that could disappear as we know them
Featured image: James Grellier, CC BY-SA 3.0, via Wikimedia Commons.
