Takeaway: If we look a decade back, startups in India were not taken that seriously. But with the awareness and growth of startups in India, the game has totally changed! More and more youth are encouraged to start their businesses.
These days, getting started early includes quickly and enthusiastically buying more startups. Successful entrepreneurs take the initiative to support other emerging startups in importance through various channels.
Young entrepreneurs dominate the startup with a large percentage of founders in brackets under the age of 36. Women entrepreneurs have begun to shine more and more in the innovative economy.
Shortly, the listing of various startups is considered the next major boundary. Every day, there is much writing about sponsored startups, unicorns, fundraising startups. Often, the beginning of the chicks may not even shine, even for good reasons. Several companies, like KillerLaunch, are preparing for the first sale of shares, but this is most likely in the launch of heaven and not in India.
Today, predictions made, to begin with, are far more complex than the beginnings themselves. But people cannot underestimate the interest shown by these few companies.
How are Indian startups evolving?
The year 2020 marked a significant change in the interests of investors in all sectors. In many high-income sectors, the number of deals has fallen sharply or seen significant declines. For example, beyond Q1-Q4, on average, the number of deals produced by the fintech and financial services sector has dropped by about 28 percent. Some prolific builders Christchurch create wonderful office space for startups.
On the other hand, some sectors have surprisingly shown signs of positive growth and increased investment interest. These include HR tech (159 percent), cleantech (119 percent), marketing technology (66 percent), online gambling (59 percent), automotive/travel (percent 43), business software (37.6 percent), agritech (11.66 percent), and advanced technology (5.87 percent).
Heena Vinayak, CEO TimesNext, says that "it is apparent that startups can bring solutions to real problems. In these months, startups also made India aatmanirbhar, and the world is now looking at India."
She also knows the importance of every startup existing in our country be it be big or small. Hence, she mentions,
"TimesNext has the main motive of spreading awareness amongst its reader from IT to Bitcoins and from the latest startup trends to startup stories. We also make sure to cover the story of startups which have never seen before or heard before, ensuring equal dignity of them in the startup industry because after all, later these startups are going to shape the future of our country."
"Our goal is to add more inspirational startup stories to our list so that we can inspire more youth to begin their startup company," she furthers add.
How will Indian startups shape India's future?
India's natural startup system has changed dramatically over the past two decades. Some startups were established in the 2000s, but the ecosystem was still mature as only a few investors were working. The number of supporting organizations such as incubators and accelerators was limited.
Some successful breakthroughs took place in the late 2000s, and over the past decade, the number of startups increased rapidly, and more support was available in all sizes. Bangalore has emerged as India's first major hub. However, significant development work is also taking place in Mumbai and the National Capital Region (NCR), and other small towns.
As India's economy continues to grow, incomes and purchasing power are slowly increasing. Increasing spending is driven by the growth of middle-income and high-income segments of the population, which will grow from one in four households today to one in two households by 2030.
Along with this, the population is another advantage. Half the world's population is under 25, and young people are aspiring. Nearly 700 million people born in the late 1980's to the 2000's carry materialistic desires and can use and achieve those goals.
Changing perceptions towards entrepreneurship
Those who are willing to take risks are the ones who can put ideas into practice and seize opportunities. Many startup founders in India have strong internal motivations and report that they are driven by their passion, curiosity, satisfaction from problem-solving, and the desire to make a difference in society. Many Indian founders have previously worked in the corporate sector.
However, apart from those jobs and the benefits of higher wages and other benefits, they see those jobs as a barrier to their ability. The lack of recognition in corporate culture often leads them to create something on their own, enabling them to define their values and control their direction.
Moreover, a change in attitudes among the wider community is evident. The success stories of the awesome unicorns and the first unicorns in India have garnered much media attention. After that, other founders have become "the first" heroes in India, giving the business the current image as cool and "glorious." Despite the particular situation, the public acceptance of business activities is on the rise.