Globally, we are pivoting to a new macro environment where more traditional (and proven) industries and technologies are getting attention. After a career working in established industries like energy and logistics I couldn’t be more thrilled about this. It is about time that we give these industries the love they deserve. Not just because the returns can be more predictable in traditional industries, but also because there is so much innovation potential.

Zoomo operates in the transportation and logistics space, which is traditional and often mired in the past. Some might also say that it is boring, but I think that this is where the sexy stuff is happening. After all, you can’t get your TV-pausing-socks without logistics to get them to your door!

It’s time to embrace the non-sexy

When I go to logistics and last-mile delivery conferences there is still a huge focus at the roundtables and main stage speaking slots from companies focussed on delivery robots and drones - but very few are dedicated to the humble bicycle. Naturally, people love to talk about the future.  Yes, drones and robots may likely play a part in how goods are delivered in the future, but bikes are playing a huge, disruptive role right now. In fact e-bikes have enabled the revolution of last-mile delivery and they are the reason that you can get same day delivery from so many of your favourite stores. To put the role of e-bikes into perspective, recent research revealed that e-bikes are now outpacing electric car sales.

The age-old adage, sell shovels to the goldrush really rings true here. I would encourage new entrepreneurs to look for industries that support big macro trends and to look for technologies that are ready now. More travel expected? Then think about sustainable cleaning or food and beverage solutions for planes and hotels. Pressure on the education system increasing? Then think about integrating technology into substitute teaching programs. Healthcare getting overwhelmed? Encourage greater investment in independent GP apps and digital healthcare providers. Manufacturing not meeting demand? Go back to the basics and think about what the blockers are and what today’s tech can solve . These industries aren’t going anywhere, which means the room for innovation is prime.  Keep in mind, the answer is often right in front of you and is less sexy than you expect.

Reaping the rewards

Although it may be harder to find and attract staff (people want to work for a drone company and not a cleaning products company) and you might not get all the flashy speaking slots at conferences, you will likely have less competition, you will stand out to value investors, and you will get to innovate and bring older industries and technologies into the 2020s.

At dinner parties when people asked what I do and I said that I worked at an e-bike company I often got disappointed looks, people expected more, they expected tech. I’ve now started saying that I am transforming the logistics industry through ground breaking technology using hardware that works with today’s regulation and is scaling rapidly. People’s eyes widen and they can’t wait to learn more. I am making logistics sexy again.

There is so much opportunity to innovate in ‘traditional’ industries with “traditional” tech, you just need to look for the right macro trends, reframe the conversation and embrace the change.