Do these fields overlap?
To understand why the vape industry is attractive to startups, you should find the intersection of these two industries. The answer to this question seems obvious and simple. That both are part of the world of commerce and entrepreneurship and that they intersect an obvious fact.
Startups are about the beginning, and the vape industry has been around for more than 10 years.
But not everything is so simple. While the vape industry and startups have a lot in common and overlap, we can’t attribute startups’ interest in the vape industry to having common denominators.
Interest has its limits in time, and with its course, it disappears or turns into a skill.
It should be understood that a startup is actually about interest and about trials; it is a time when business is the least stable, and it is not known what will happen next or a big rise or fall. However, the vape industry is always about elevation because even in covid, despite the decrease in profitability, the vape industry still remained positive. Therefore, in this context, it cannot be about the intersection of these two fields.
What do startups and the vape industry have in common?
Startups are also about innovation. It is precise because of them that the vape industry is so attractive to them. Despite the fact that the first electronic cigarette was released in 2000, there is still room for innovation today. First, there is good vapes; then, there is an opportunity to gradually regulate the nicotine content so that you can then be free from it, from cigarettes, and from the vape itself as well. And today, we returned to best vape, which instead of ridding people of a bad habit, simply replaced it. And later, or rather at the same time, best vapes to buy (https://vapingdaily.com/best-vapes/) appears, which does not replace one bad habit with another but becomes the subject of discourse regarding the possibility of using it for medical purposes. Many modifications of vaping without nicotine have appeared, which, like vaping with nicotine, can also be harmful. However, unlike vapes with nicotine, at the same time, they have a chance to be real and not nominally useful. The last vivid example is the use of vapors of medical marijuana, which, according to some scientists, have a better therapeutic effect due to the fact of the method of delivery of the used substance, namely through inhalation of steam.
The benefit of vaping is always a subject of discourse and not an axiom. Can startups change this trend?
Startups are often also about good intentions and the need for social acceptance. It is clear from this that startups cannot be openly interested in what is killing us. And that’s why most startups are interested in how the vape industry, which is developing so rapidly, can be useful for humanity.
In addition, the vape industry attracts startups with its ability to adapt. The electronic cigarette was invented to help people quit smoking. However, it later suffered numerous bans from state institutions due to the harmful substances that gas stations could contain, bans on non-certified devices that were ahead of time, but not the bureaucratic apparatus. And despite these bans, the vape industry continues to develop because each ban provoked the release of a new vape or refill that bypassed the restrictions, which in the end, was beneficial for the consumer who received a product of better quality.
The vape industry is an ideal environment for startups.
The possibility of such flexibility, wide space for innovation, and at the same time, economic stability cannot but attract young startups for whom these components are an ideal environment.
But as it was said earlier, a startup is a time when the business is least stable, and it is not clear what will happen next. And that is why it is strange to talk about financial stability in the context of a startup. However, this is true. It is difficult to find statistics where the income level of the vape industry is negative. All thanks to the above-mentioned flexibility of this business and wide space for transformations. If one startup is overwhelmed, there is always an opportunity to switch to another and eventually win a place in the market.
This state of affairs significantly improves the very concept of a startup because, in this area, it already becomes a more sustainable type of activity while not erasing such an important element for startups as innovation.
Startups make vaping less harmful.
In addition, startups around the vape industry gather not only supporters of electronic cigarettes but also opponents and skeptics. So the Cannalysis company attracted 22,6 million in order to check if there are any harmful components in the e liquids for vaping. By harmful, they mean those that can provoke the user’s death. In addition, the innovations mentioned above, such as the possibility of controlling the amount of nicotine used, are also the merit of startups that tried to return vapes and electronic cigarettes to their original task, namely, to be a tool for quitting smoking and by no means become a new bad habit.
Thus, despite the ban in the country itself, thanks to innovation and a focus on reducing the harmful effects even for passive smokers, Chinese startups were able to stay afloat and not fall during the economic crisis. In addition, they were able to enter the American market, which is not a common phenomenon. And even with Trump’s policy banning tobacco additives, they have been able to survive due to the bet on reducing harm to the consumer’s health.
Conclusion
So, we see that the vape industry is an ideal environment for startups. And startups themselves are almost the main factor that enabled this industry to survive despite numerous bans and skeptical attitudes of competitors. And suppose the startups of the vape industry continue to bet on their customers, taking care that they are not only satisfied but also healthy. In that case, this industry will flourish, as it was before, but industries that do not care about the health of their customers, like tobacco, will experience stagnation.