What are these techs: edutech, meditech, and foodtech?
With the latest technologies finding accommodation in the most diverse sectors, some terms with which we are unfamiliar are beginning to be frequent. Edutech, Meditech, and FoodTech. What does this “tech” mean? In this blog, we describe the differences among these technologies. What does “tech” specifically refer to, and what types of companies are included in these emerging categories?
Which companies fall under these emerging categories? In this article, we review several sectors where innovative technologies are emerging to revolutionise their respective markets.
Where Do The Techs Come From?
Tech companies have been around us for a long time. So, why has it given us the ability to catalogue certain companies by the tech they belong to?
A possible explanation lies in the current business world and its unique taste for inventing new terms that quickly spread as if they had been with us all our lives: “quick wins,” “ups and downs,” and “takeaways” have never been so present in our everyday vocabulary as they are today.
In the case of referring to certain companies as the tech companies of this or that sector, these are widespread expressions in the world of startups.
Being companies with a high technological and innovation component, it is common to see new businesses with disruptive proposals within their respective sectors.
Thus, when a company revolutionises the medical sector by applying new technologies, we will say that it belongs to the most groundbreaking Meditech.
Just as if we talk about a startup that has changed the way of doing finance, we will say that another revolutionary fintech has been born. Clearer, the water.
Main “Tech” And Its Meaning Main
In every field where companies rely on technologies to provide a more innovative service to their users, we will have the birth of new tech.
And given that more and more traditional sectors are jumping on the bandwagon of new technologies, the creation of juicy new tech categories is the order of the day (so don’t be surprised to hear about AgroTech soon).
Among the categories of technology companies that most frequently resonate in business media are the following:
1. Fintech: The fintech category encompasses those companies that have applied different technologies to the financial sector, introducing all kinds of solutions to their users on the market. Consider Fintonic as an example.
2. Infotech: In this case, the term refers to technology companies in the insurance industry. These companies are already applying big data, artificial intelligence, and Internet of Things solutions to offer their users varied disruptive services.
3. Legaltech: Although at a slower pace, the legal sector has also jumped on the tech bandwagon. In the case of legal tech, these are companies trying to provide technological solutions for lawyers, offices, and users of legal services.
4. Foodtech: Since the food sector was not going to be an exception in developing new technologies, many companies under the Foodtech category grew by leaps and bounds. Companies in this sector are the most varied, from food delivery applications to 3D food printers.
5. EduTech (educational companies), PropTech (real estate sector), or HealthTech to the list, which are just a few more samples of sectors in which technologies are breaking through with force.
