What's In Store

Look ahead to 2021's tech trends with Deloitte's experts

Nothing like a global pandemic to make everyone refocus. Photo by Colin Anderson Productions/Getty

As poet Robert Burns mused, the best-laid plans of mice and men often go awry. In January 2020, most of us had plans —thoughtful road maps to guide our organizations, our technology, and our lives through the months to follow.

And then COVID-19 punched the entire world in the mouth, rendering useless many of these best-laid plans.

Seemingly overnight, a strange, historic event disrupted our assumptions and forced us, with a shocking degree of urgency, to become more adaptable and responsive than we had thought possible.

Mindful that the pandemic's impact continues to ripple across societies, markets, and lives, we present Tech Trends 2021. The theme of this year's report is resilience. To Deloitte, this means a stubborn determination to adapt and thrive in the face of change.

We have seen countless, inspiring examples of resilience this past year as organizations and entire sectors assessed their circumstances, revised their strategic plans, and marched toward the future. We anticipate that for most, the future they find will differ markedly from the realities of January 2020.

The COVID-19 crisis has driven change in an important and unexpected way. A growing number of organizations across sectors are accelerating their digital transformation efforts not only to make their operations nimbler and more efficient, but to respond to dramatic fluctuations in demand and customer expectation.

For example, while many supply chain leaders were confident of their ability to function during disruptions, we found out, as Warren Buffett once quipped, who was swimming naked when the tide went out.

Likewise, executive-level planning discussions about the future of work had been just that: about the future. The pandemic crashed comfortable schedules from years into weeks.

Continue reading this year's Tech Trends report on Deloitte's website to explore the opportunities, strategies, and technologies that will drive new plans during the next 18 to 24 months and beyond.

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Trending News

Building Houston

 
 

BUCHA BIO has raised over $1 million to grow its team, build a new headquarters, and accelerate its go-to-market strategy. Image courtesy of BUCHA BIO

A Houston company that has created a plant-based material that can replace unsustainable conventional leathers and plastics has announced the close of its oversubscribed seed funding round.

BUCHA BIO announced it's raised $1.1 million in seed funding. The round included participation from existing partners New Climate Ventures, Lifely VC, and Beni VC, as well as from new partners Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate, including Alwyn Capital, as well as Chris Zarou, CEO & Founder of Visionary Music Group and manager of multi-platinum Grammy-nominated rapper, Logic, the startup reports in a news release.

“I’m excited to back BUCHA BIO’s amazing early market traction," Zarou says in the release. "Their next-gen bio-based materials are game-changing, and their goals align with my personal vision for a more sustainable future within the entertainment industry and beyond.”

The company, which relocated its headquarters from New York to Houston in February, was founded by Zimri T. Hinshaw in 2020 and is based out of the East End Makers Hub and Greentown Houston.

BUCHA BIO has created two bio-based materials using bacterial nanocellulose and other plant-based components. The two materials are SHORAI, which can be used as a leather alternative, and HIKARI, a translucent material that is expected to be formally introduced in November.

The fresh funding will help the company to accelerate its move into the marketplace next year by securing co-manufacturers to scale production. Additionally, the company is growing its team and is hiring for a new supply chain lead as well as some technician roles.

Per the release, BUCHA BIO is working on constructing a new headquarters in Houston that will house a materials development laboratory, prototype manufacturing line, and offices.

BUCHA BIO has the potential to impact several industries from fashion and automotive to construction and electronics. According to the Material Innovation Initiative, the alternative materials industry has seen an increased level of interest from investors who have dedicated over $2 billion into the sector since 2015.

“The time for rapid growth for biomaterials is now," says repeat investor Eric Rubenstein, founding managing partner at Houston-based New Climate Ventures, in the release. "BUCHA BIO's team and technical development are advancing hand in hand with the demands of brand partnerships, and we are excited to support them as they capitalize on this global opportunity.”

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