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I would like to give my 2 cents on where I see any opportunity!

A newer quant will be incentivized to create an equity strategy because the data is available and the markets are liquid. Because the equity markets have been automated for so long, a lot of the inefficiencies and arbitrage opportunities have been leveraged. If a user were to come across an opportunity, it would most likely disappear quickly, which then can lead to your strategy hemorrhaging capital.

An alternative would be to secure data feeds and invest time in less heavily traded securities, trading liquidity for reduced competition. This becomes a much scarier idea, because you may not be able to exit your positions if they slide away from you. It would generally be hard to get the right to trade these securities without large amounts of capital or a big name behind you, but this is part of your advantage.