The undeniable business case for startups delivering products and services that speak to the millennial consumer segment is getting stronger by the year. As Sue McGill, MaRS Discovery District’s Head of Consumer & Commerce, points out:
“Investors place bets on companies that have the potential to become big exits and create significant returns on their capital… By 2020, millennials will form 50% of the global workforce and will be a major driving force in the global economy.”
When we investigated millennial-targeting startup success stories, our insight-rich discussion with Sue McGill provided crucial context:
💰💰💰 Funders are drawn to startups that focus on the millennial generation. Mentor and innovation advocate Sue McGill of @marsdiscoverydistrict has a straight answer on why that is: "Given their impact – socially, culturally and economically – ventures that are specifically catering to (millennials) stand a good chance of enjoying huge wins and outperforming the market in the long run. As a result, this category of startup is attractive to investors.” For more of Sue's insights on why this is a sector of the startup marketplace that is heading in an excellent direction 📈, click our bio link.
Millennial-focused startups that attract major financial votes of confidence from funders aren’t confined to one sector. Our roundup of 3 startups achieving major success took us from fintech through to cosmetics:
The social media conversation fuels both the startup sphere and millennial spending: to cap our investigation, we looked at MutualMind, a company whose Bluemix-fueled social listening product led to acquisition by top marketing firm Shapiro & Raj.