The global pandemic of Coronavirus (COVID 19) has in the past few months created ripples around the globe including India.
The health disaster not only adversely affected the biological and psychological dimensions of human lives but also had a deeper impression on Indian economy.
While the biological impact of the pandemic was largely felt by the elderly population, the psychological impact was felt across the business world.
In the past few months the country has witnessed downfall of stock markets, closure of manufacturing units, business houses, construction projects, restaurants, shopping malls and others while many were laid off from their routine jobs.
Many others on the side continued to serve their business outlets by working from home to at least secure uninterrupted operations.
Several of these facets of the economy triggered by COVID 19 have created an imbalance of flow of money and resources.
Notwithstanding, the serious pandemic, start-ups in Odisha bear immense opportunity for the ignited minds to flourish.
Following are some of the potential opportunities available for the sector amid lockdown hassles.
1. Online Education:
Start-ups providing online coaching services now have ample opportunities to market their products as all schools, educational institutions have been closed down and there has been a dearth of physical class rooms. Students on the other side have the ease to avail these online teaching materials or coaching easily during their stay at home.
2. Logistic support system
Start-ups dealing with logistic support system can grab the benefits by implementing the logistic service for delivery of foods, medicine, vegetables etc at doorsteps of consumers during lockdown as people are having limited physical access to market. Consumers are preferring delivery of supplies at their doorsteps.
Start-ups developing or managing e-commerce platforms can take the benefits of booking online orders of foods items, vegetable, grocery, meat, fish, baby care etc.
4. Health care services
Start-ups catering to health care services such as online medical care, on-call doctor consultation, medical support system, home delivery of medicine etc can take the benefits of the lock down period. People are now preferring online consultations with doctors and health professionals without visiting hospitals. Further it has been great opportunity for start-up ideas for developing and producing low cost medical equipment, testing kit, ventilator etc which required for Covid 19.
5. Online Entertainment
There is a huge demand of online entertainment, online games and live webcast due to closing down of cinema halls and gaming parlours. Start-up engaged in providing online entertainment services can reap in the benefits of the sector.
It has been projected that the above segments can potentially take the benefits of lock down period and boost their business even the economic slowdown curbs prevail.
*The writer is a charterd accountant based in Bhubaneswar. Views expressed are personal.