Recently, Forbes magazine called family history a “2-plus billion dollar industry that is expected to grow to nearly 3 billion by 2018 (ifla.org). Any investor will tell you that any market described with the word ‘billion’ is a market well worth pursuing.”
The article goes on to describe how FamilySearch International has been quietly spurring growth in the genealogy industry. The nonprofit genealogical organization has made its API (application program interface) available to other developers at little to no cost, allowing for partnerships and app development. FamilySearch’s big annual conference, RootsTech, hosts an Innovator Summit that “offers developers, business leaders, and entrepreneurs access to the latest content and resources that provide insight on family history data, services and inspiration for current and future projects.”
“FamilySearch is no longer being quiet,” they conclude. “They are ready to start knocking doors on a massive scale. In fact, at the industry’s biggest world-wide conference, RootsTech 2015, FamilySearch will be holding a Shark Tank-like competition in front of a 3,000 person live audience.”
“The RootsTech Innovator Challenge is the first of its kind with $25k in prize money and judging by seasoned investors, family history industry leaders, and live audience(s),” explains a statement from FamilySearch sent to Genealogy Gems. “Family history is attracting big partnerships while providing lucrative opportunities for smaller developers to solve complex problems and appeal to the consumer masses.”
Do you have a great business idea that serves the genealogy market–or do you know someone who does? Share this blog post with them! More brilliant and creative products and services for genealogists is GOOD for US!