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Consumption

Consumption is inexplicably intertwined with our daily lives and is a powerful engine that stimulates economic growth. We recognise that the pandemic has altered our habits and behaviour, but on a macro level, how does that impact consumer demand in the long term, and what challenges and opportunities lie ahead?

Within the food subcategory, competition is rife, yet we see new entrants with little to no experience in F&B. How do these brand grow from obscurity to influencer status? Are such brands thriving simply because of clever marketing? Will this space continue to foster entrepreneurship sustainably?

Enterprise Services

Despite evolving into a red ocean, enterprise services has retained its popularity with investors. It owns the largest slice of the pie, in terms of total amount of capital raised and fundraising activity.

Will the exponential demand — that was driven by a market-wide SaaS craze and outsourcing of basic services — sustain in the coming years? How would the industry evolve? What innovation or subcategories are expected to emerge? Can we anticipate the rise of a global enterprise services giant as there are in the US?

Education

Although 2020 was not a year of explosive growth in total market value for China's maturing education industry, the pandemic undoubtedly brought a spike in user acquisition and traffic. 

As it continues on its positive growth trajectory, investors are doubling down and companies such as Yuanfudao and Zuoyebang have recently received massive fundings.

Will China's education industry be dominated and consolidated by these bigger players? What does their extensive reach mean for fledging startups and smaller companies? As students in China return to school, has engagement on education platforms dip, and what would the industry look like in the years ahead?

Healthcare 

China's healthcare industry is highly favoured by capital this year, leading in frequency and amount of investments. We are witnessing industry giants dive into new verticals, one after another. Is this driven by the injection of capital or were the opportunities unearthed by the pandemic? 

Across the board, healthcare products often have similar drug targets and digital technology — how can companies stand out? With high technical barriers to entry and long investment gestation period, such investments are characterised by "high risks and high returns". What are some verticals to watch in the long term?