BAYAREAINNO, The Business Journals | November 11, 2022
Bay Area Inno's Startups to Watch in 2023
For our second annual tranche of Startups to Watch, Bay Area Inno has chosen a group of companies we believe have the goods to survive the uncertain times ahead.
With venture capital drying up and many in the tech space battening down for a potential recession, startups of this era must be resilient, frugal and most of all, based on a really good idea.
We chose these 15 startups for their mix of innovation and tenacity we think it will take to survive tough times. From new social apps taking on established players (and possibly taking on users fleeing Twitter) to a crypto company that wants to put an end to the crypto industry's scammy behavior, all these startups have niches to fill and stories to tell.
Click through the gallery above for a quick look at the startups, and click on the links below to read more about the Class of 2023 Startups to Watch.
- Array Labs
- Dispatch Goods
- Uplift Labs
In our 2023 Startups to Watch feature, the Silicon Valley Business Journal and San Francisco Business Times present 15 startups and their founders doing unique things in the Bay Area.
What’s your elevator pitch in seven words? Helping men look good without buying clothes.
What was your “aha” moment? I wanted to look good to achieve my goals (getting a job, dating, promotions). I considered Stitch Fix but didn’t want to own that much stuff. I tried Rent The Runway but didn’t want to spend hours browsing through thousands of items. I realized that most of the fashion services on the market are for people who are into fashion, not for people who just want to look good to achieve their goals. I also thought of that when I was leading e-commerce teams at Target and Sears — 30% of inventory went directly from factory to landfill, and Taelor’s model can provide data to help them better predict trends and support sustainability.
Who is your target customer? Men 25-45 years old in the U.S. who are busy and want to look good but also don’t want to spend time chasing after clothes.
Are you already thinking of an exit strategy? What would it be? Possibly an IPO. Maybe sell to an e-commerce company like Amazon to help them get into sharing economy space. Or sell to a brand like Banana Republic which could help them transform to circular fashion, or any brands that need customer lifestyle data on a regular basis.