“Start-ups”: The magical word hovering around every professional for the past two years. Whether you’re directly involved with one or not, there’s no escaping the start-up boom in India. The world has been hearing the success stories from across the globe, and India has been at the helm of it. Right from Flipkart to Zomato to Ola Cabs, almost every industry has a start-up success story and this trend is only growing, with new start-ups rising from scratch almost every day.
A NASSCOM study suggests that India will have about 11,500 tech start-ups by 2020. Investors are on the lookout for something promising all the time, and they have delivered where it mattered. Snapdeal raised $627 million, Ola Cabs raised over $1 billion within two years, and Flipkart has raised $700 million. These are the biggest Indian start-up success stories from the past year. But, there are thousands of other smaller ones. The supporting factors of co-working spaces, freelancers, and the limitless amenities of the Digital World only fuel the magnificent fire that a start-up ignites. People are investing in building what is called a ‘start-up ecosystem’, and Bangalore's Koramangala and Mumbai's Hiranandani Powai are at the forefront of housing these ecosystems.
Start-up ecosystems help a start-up move ahead faster, with the help of co-working spaces, good infrastructure, plus the available networking possibility with fellow start-ups. Bangalore, the IT hub of India, is leading the way with the maximum number of start-ups, followed by Mumbai and Delhi. E-Commerce has been the leading choice when it comes to industry, with M-Commerce and Apps right behind it. India, a developing country for many years, is the perfect field for start-ups to grow. With the younger generation comfortable with taking risks of a business, and carrying it successfully over the threshold of success, the Indian mindset about businesses seems to be undergoing a change.
The comfort of a job is becoming lower priority, as compared to the exciting life of an entrepreneur. Even the instability of a business is embraced with the dreams of success. This stands true for investors, as well. Investors have long been extremely cautious about their money, especially with the younger generation, but the scenario is changing. Younger people have proved their mettle, and have won the trust of investors. Many start-ups are owned by people in their late 20s and early 30s, and they are running successfully. That shows how far the country has come in terms of mindset change. And investment at the right time makes all the difference. Too early an investment can only harm a start-up; similarly, an investment a little too late can prove harmful as well. An investment, ideally, should come in a little after a business has found its feet and has been seen to sustain itself for a while. Indian start-ups have learned this by trial and error, and eventually a lot of them have mastered this art.
The business that start-ups have generated so far has been seen to help India's economy, especially the GDP. The Government of India has taken note of this and is considering the introduction of various regulations to help the growth of the start-up culture. It is a great move, and it will only make India a stronger competitor in the world in terms of start-ups. New, smaller businesses are being mentored by the larger ones, and this feeling of fraternity is a great factor for the growth of the country as whole. The newer businessmen/businesswomen prefer healthy competition over an ugly rat race. This has ensured that everyone works as a team towards the overall growth of India as a business hub.
We are a large market, and start-ups are working, indirectly, towards ensuring that there is enough for everyone's needs. It is all of these factors, put together, which make India a fertile land with the beautiful prospect of a great yield. With more and more people opting to start out on their own, NASSCOM's figure of 11,500 seems like a an achievable goal!
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