With the spread of Covid-19 and the lockdown we will be implmented worldwide, We’re highlighting the sectors affected positively and other sectors we see an opportunity for growth during this current circumstances.
1- On-demand delivery platforms (positively affected)
Due to the Kingdom’s recent curfew, delivery apps have seen an increase in the number of orders. Although the orders may reduce after the pandemic, it is an opportunity to influence consumer behavior in the long run and demonstrate the added value of these services.
Examples of international companies: DoorDash an American on-demand food delivery service. Instacart Grocery delivery platform allows customers to order groceries from retailers with the shopping being done by a personal shopper.
Examples of local companies: Nana had a major role in providing grocery during the lockdown period. In addition to their main delivery service, The Chefz have launched a campaign to deliver sterilizers, pharmacy products, and toys.
2- Health care (positively affected)
The introduction of artificial intelligence in healthcare has contributed to achieving greater accuracy in work, as it proved its ability to diagnose patients and track the spread of the virus. It also has reduced patient visits to the hospital by diagnosing individuals, monitoring patients and offering treatment for minor illnesses virtually.
Examples of international companies: TempusLabs is a technology company that has built the world’s largest library of clinical and molecular data and an operating system to make that information accessible and useful for patients, physicians, and researchers. Zymergen is a science & material innovation company.
Examples of local companies: Cura is an application that connects patients in a personal call with doctors specialized in various fields to provide consultations.
3- Communications tools (positively affected).
Most companies and educational institutions switched to work from home/ and introduced virtual learning regarding the curfew implemented worldwide, which provided an opportunity for communication companies to provide tools that help teams best manage their work.
Examples of international companies: Zoom is a cloud platform for video, voice, content sharing which helps businesses and organizations bring their teams together. Slack is a business communication platform offers many IRC-style features, including persistent chat rooms organized by topic, private groups, and direct messaging. Basecamp its a project management tool.
Examples of local companies: Noon Academy is a virtual educational platform that connects teachers with students to provide lessons remotely. myu is a channel to facilitate the school’s communication with students and parents, and provides a tool for digitally sharing lessons.
1- InsurTech (Opportunity in the local market)
The demand for health insurance is expected to increase during the crisis. There is an opportunity in automating the processes to improve service and increase efficiency. Its an opportunity to use data analysis and artificial intelligence to speed up the verification and approval process.
Examples of international companies: MyBrightHealth provide people with more affordable, easier-to-manage health insurance. Oscarhealth the first direct-to-consumer health insurer.
2- FinTech (Opportunity to grow)
Some small and medium-sized companies faced great pressures from the pandemic, which affected the operation of their work. Instant financing and lending platforms have helped those companies in overcoming the crises and manage their cash-flows.
Examples of international companies: LendingClub is America’s largest online credit marketplace connecting borrowers and investors. StreetShares provides institutions with a completely digital, lending experience for small businesses.
Examples of local companies: Raqamyah Peer to Peer (P2P) financing platform uses innovative technology to directly connect small businesses seeking fast, affordable finance with financiers who can help fund their growth. Lendo is the first Saudi marketplace lending fintech offering shari’a compliant invoice financing to small and medium businesses
