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By Anna Radachy  Did you know there are people who raise bugs? There are companies and startups all over the world with bug farmers who breed, raise, and sell all sorts of insects for all sorts of purposes every day. This market of raising and selling bugs affects many, many markets across the world. Some markets include things you would expect like reptile food and fertilizer, while other markets are more covert like dyes and fabric production. Around the world, people eat bugs, use them to feed their animals, make their clothes, and many other things every day, but how does this affect us? Have you ever looked at a beetle and thought “I could make a business out of that”? I am willing to bet the answer there is no. In reality, every single day we come into contact with hundreds of entrepreneurial opportunities that never even occur to us because we are unaware of their market potential. Raising bugs is not the only hidden specialized market out there and taking the time to think about these small things may lead you to your next idea! Take the time to smell the entrepreneurial roses and pay attention to the “everyday” things that make up our world. Look for niches in markets you are interested in and dig into the steps that take raw materials to finished products.
In many of these bug companies, bug farmers raise one bug for a specific reason, which is the idea behind a recent I-Corps Sites graduate EcoFlys. This startup raises black soldier flies to make reptile feed, and uses the organic waste produced from raising the flies to make a sellable biofertilizer. These are just two of the several overlapping specialized market opportunities that have been combined to make Ecoflys a novel business concept. So why write a blog about the specialized market of raising bugs? Well, I think it’s interesting and a little funny, but also, I want to encourage you to think outside the box when thinking of entrepreneurial routes to take. Often when people are considering becoming an entrepreneur they are intimidated by the huge markets and pass up these small markets. Finding small niche markets will introduce you to new ideas and open you to new opportunities, finding a real place for you to thrive. So, take a closer look at those bugs!
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