This Week’s Market Inventions
If you know anything about us, you know we’re obsessed with the process of Market Invention. It’s how individuals and companies create lucrative new market space by tapping into previously unaddressed market opportunities, and we have a Slack channel dedicated to the examples we come across. Here are our five favorites from the past week:
This is what happens when MIT engineers and data scientists start a hair care company. Function of Beauty lets users create custom blends of shampoo and conditioner based on their own hair (and name, and favorite color, and scent of preference).
The ALTERED:NOZZLE is a nozzle that installs in about 30 seconds and cuts water usage by an incredible 98 percent. It turns your faucet into an efficient mister, meaning you can wash your hands with 1/50th of the water you used to use.
TripActions is a business travel platform that makes the booking process fast and easy—and incentivizes corporate travelers to spend less by sharing in the savings.
Katerra is a vertically-integrated company designing and building affordable housing. Their business model takes the distributors, retailers, and contractors out of the process, which they say improves productivity and reduces costs.
There’s been a lot of change in the transportation industry lately, from Uber to autonomous vehicles. Now, shareable electric scooters are here. Although they’ve gotten some negative press, Bird has also won their share of fans. Time will tell if this market invention is viable, but Bird is certainly convenient for users. They charge just a few bucks to ride, and they’re available in a growing number of cities and universities.