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Crisis inspiring innovation
“In the midst of chaos, there is an opportunity!”
Whenever there is a time of chaos and trouble, most people just try to play safe and keep themselves in a secured position but the difference makers are those who try to make a change by keeping themselves out of comfort zones and try to make even the best by utilizing the resources available at the time of crisis.
One such crisis like the coronavirus pandemic couldn’t manage to keep some of the people from rising like big firms and entrepreneurs. It rather created wealth and opportunities for them. However, it crushed many jobs and people's uprising due to threats and averse to the risk of contracting it.
There are always gainers and losers in the economy but the change-makers are opportunists. It is, however, a well-known fact that a pandemic would definitely lead to a rise of the medical industry like sanitizer and pharmaceuticals but no one even thought, except some, that even food delivery companies and hotel agencies would even find an opportunity here which is converted by many amazing startups like Zomato, Swiggy, and Oyo by working with the government and helping the society by connecting the dots.
Moreover, the FMCG companies generated a lot of revenue- Chyawanprash sales across the industry grew 283% in June and branded honey rose by 39%, according to Nielsen Holdings plc. Maggi noodles are popular — saw its revenue grow an “impressive" 10.7% in the quarter ended March, driven by sales surges for Maggi, KitKat, and munch, according to Haitong securities co. Analysts Gaurang Kakkad and Premal Kamdar. {source:-mint}
Edtech, fintech, and cybersecurity are witnessing an increasing user demand, which in turn is luring investors (source:-et).
By going digital, many firms like Byjus, Vedantu, whitehat jr., and many others created hype by emphasizing online learning solutions.
So when it was expected that the pandemic would completely deteriorate the textile industry, they found a new alternative to keep going by producing PPE kits. The journey of India from importing PPE kits to being the second-largest producer of PPE kits in the world is really very inspiring.
Due to Covid-19, there is a huge demand for ventilators in hospitals. We can see people come up with innovative plans to make ventilators at the cheapest cost possible.
In our Delhi metro, we can see stickers on the seats to indicate that we have to maintain physical distance in public areas too and that is impressive at the same time.
In the entertainment industry, innovative minds discovered a new way to the concerts. The answer that seems to be popping up around the world is drive-in concerts. Audience members simply turn up to the gig in their cars and park in rows. Then they tune in to their FM radio where the music is broadcasted through a limited frequency. Instead of cheering and clapping, audiences have been encouraged to beep their horns in support.
From salons to home decoration, everything got a solution.
So it is just about finding the accurate answer to your problem, to make solutions prominent throughout, and thus, raising the need for it then becomes secondary.
By Aditya Verma.
(October 2020)
