Elections are a really bad example of governance, mostly because they're a minimalistic form. It's really not worthwhile, IMO, to go after anything to do with elections at all if you want to make money. Instead, try to figure out a way to loop the government into dealing with everyday problems. Tax-help companies, like H&R Block and TaxAct, are actually early instances of this: they're providing navigation of arcane bureaucratic nightmares. There is probably no end to the number of areas you could find to niche up and optimize a citizen's interface with their governments.
I mean... I just find your comment odd. Elections are such a tiny slice... what problem are you even trying to solve, besides "how do I extract money from this process"?
I can't think of a way to business model that, though. Maybe a Kickstarter deal where people vote for inclusion via pledges and you take a cut? That doesn't sound like a great idea. Dunno.
I suspect a successful Open Gov business is mostly about finding a market. The people spending money on elections are mostly campaigns, and open government is not necessarily in their interests. Being in this space seems like studying environmental science: sure you hope to protect the wilderness, but most potential employers want your help getting around the laws. (Pardon my cynicism.) I think Votizen is essentially lead gen for campaigns, and we felt a lot of pressure to go that way. Perhaps one market would be helping big-dollar contributors find the best people to fund?
Even if you want to sell to campaigns, you should be aware that most election IT is partisan. Democrats have their solutions and Republicans have theirs. There is too much distrust for a vendor to service both sides.
On another note, one of the great things about open government work is that it makes sense for all kinds of political viewpoints. My co-founder worked on the Hillary campaign, while I'm pretty libertarian. Most of the people I met doing Open Government work were very liberal, but in my opinion anything that increases government transparency and accountability is good for reining in state power.
EDIT: added 2 paragraphs.