2024 and beyond is expected to provide major opportunities for climate change startups. A recent PwC report stated that in the US, VC investments in this area increased to $418 billion in 2023 from $16.3 billion in 2019. This amount is expected to exceed trillion dollars in the next few years. Amazon (Climate Pledge, Bezo’s Earth Fund), Microsoft (Climate Innovation Fund), Sequoi Capital, Kleiner Perkins, Union Square Ventures have all allocated huge grants to support innovative climate change projects. Thus, this will be a very busy field for entrepreneurs in this time frame.
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Internet of Things (IoT) is another area that is expected to have great growth in 2024 and beyond. An estimate (Fortune Business Insight) for 2030 puts approximately 3.4 trillion dollars for the IoT market which is not in the domain of large corporations but also accessible to many small businesses.
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It is clear that entrepreneurship as of 2024 and beyond will increase the demand for specialized skills in order to enter and maintain new businesses. With the fast development of AI and utilization of robots to perform routine tasks, entrepreneurs now need to add on special skills and develop themselves in these areas. They have to focus and consider diversifying their businesses. Educating themselves and their teams about the new trends must be their number one challenge and priority.