Growing Startup Culture in India
Just few years back, it was the scene that if you tell someone that you have left a high paying job to start your own ‘Startup’, then chances were high that they may term you as fool.
But things are not the same any more, the younger generation now wants to fail, precisely Try & Fail, only because they want to LEARN.
As per a recent UN report, despite having less population than China, India has world’s largest youth population with 356 million youths. The youths today have moved on from getting a ‘decent job’ culture, its passé. They have embraced the ‘Startup Culture’.
Being an entrepreneur was not so prevalent or was encouraged either in post-independence era. But with government taking the baton in its hands & actively endorsing entrepreneurship, the wheel has started rolling.
Entrepreneurial encouragement
There are various Central & State government sponsored schemes to help the entrepreneurs across the sectors. Be it subsidies on loans or business policies, everything is streamlined and bottlenecks are removed.
The growth in technology has boosted the startup era, as many startups that are emerging are tech startups & are doing wonders in the industry. With success of Flipkart, Paytm & likes, it is now a dream for every other youth to start his/her own venture.
A decade back it was a common saying in Silicon Valley that you would find a clever Indian toiling away in the backroom of nearly every successful start-up company. Things have changed now, Indians are coming back to India; to contribute in the Indian Startup growth story & many of us are witness to it.
Opportunities
India is a growing market & there is tremendous potential which is yet untapped. Students at premiere B-schools are opting to work with startups than at MNCs. Many of them are opting out of campus placements itself, just to pursue their dream. The concept of ‘dream job’ is vanishing slowly & the concept of ‘Startup’ is taking its place.
Infrastructure
India currently has
40+ Accelerators
300+ Angel Investors
6-8 Early stage funds
10-15 Later stage funds
Apart from these various forums & communities are there to support the startups. Last but not least. We should always remember that startups only fail when they fail to learn.
Let us know your take on Indian startup culture.
EDI is a pioneering institute in the field of entrepreneurship & is acknowledged as a world leader in creating first generation entrepreneurs through its PGDM-BE course. To know more about the course: http://bit.ly/1xs4lQl