Have you ever thought of starting up have you had a unique idea that you thought could make a brilliant product ?
But you are scared of taking the plunge or risking your savings or ushering in a change too late into your career what if I told you it’s never too late to start up what if I told you that now is the best time to startup meet Falguni Nayar she is 59 years old and what is India’s most successful entrepreneurs Nayar decided to startup 19 years into her career she was few months of 50 when she started NYKAA NYKAA went live on the 30th October 2012 it made Nayar India’s richest self-made women in just nine years her net worth today is 7 billion dollars as for NYKAA today it is one of India’s most valuable companies a few months ago the company went public the IPO was a blockbuster it made Nayar the poster girl of Indian startup I realize that I’ve been using the word startup for some time now so
I think you guys are thinking that what is a start-up or startup.
So allow me to quickly tell you what a Startup really is am sure a lot of you already know this a Startup is a young company one that is selling a unique product or service that founded by one or more entrepreneurs and initially funded by the founders their families or friends today India has 58959+ recognise Startups 73 of them are unicorns meaning their evaluation is 1 billion dollars more which are these companies Ola Cabs, Paytm, Byju’s, swiggy, Oyo rooms, Big basket, LensKart and many others 38 Indian startups entered the Unicorn club this year the likes of licious, Grofers, Bharat pay, Urban company, Pharmeasy, Cred, Firstcry most of you already are familiar with these brands and that’s the amazing thing about startup the entire focuses on making life easier for customers or their clients and this helps them become a household name in no time if you want to haircut there are startups bringing the salon to your home or you have an urge to make kebabs mincemeat will be at your doorstep in minutes do you love make up the best of global brands are just an order away no customs or skyhigh shipping charges that the amazing thing about startups their bullish on being hassle-free. Indian startups are doing a fine job with that it is no wonder that India is adding an increasing number of unicorns to its sleeves every passing year between 2011 and 2014 India produced only one Unicorn every year in 2015 the number jumped to Five became Eight in 2018 Nine in 2019 and this year the graph just won’t stop climbing 38 And counting.
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India’s Startup Journey | Startup India |Startup Company in India
So what works in favor of Indian startups and why do I say now is the time to start up first in the current scenario?
- The Wuhan virus pandemic has accelerated the online switch people who never bought even a packet of sugar online are today adding the monthly ration to their Shopping Cart online medicines bought online and so is milk or flowers or a cup of tea children having touted online money is being exchanged online.
- The smartphone proliferation in India is helping people avail of the services and products these startups are offering.
- The desire for consumption is accompanied by the rise in income levels you see today and the average 20-year-old and 13-year-old has more disposable income than people of the same age group had some ten years back so they are spending more money.
Beat on food clothing cosmetics holidays today we’re buying more products and services the ever before and this is helping startups grow so that the demand side of the story.
The second part is the supply side and this is Rosy.
- The massive flow of talent India already has premier engineering and business schools the IIT and IIM which make up to 40% of India’s startup founders and leaders.
- India’s youth is not scared of taking risks they are open to entrepreneurial experiments number.
- Business is no longer seen as an occupation confined to India’s mercantile community business has become a legendary career today.
- Indian startup growth attracting more top-quality talent and retaining the brightest of students in India India’s top talent is staying back to start-up or joint startups instead of joining the Silicon Valley
That way the startup culture has reversed the so-called brain drain there is demand there is supply what about funding?
That brings us to the third success story Indian startups are doing well because investors are happy to put their money in these companies This company at numbers from quarter 3 between July and September 2021 Indian startups raised more than 10 billion dollars twice the amount raised in the same period last year and 41% more than the funding raised in the second quarter the number the soaring today India ranks 2018 the Global startup ecosystem ranking it has jumped 3 spots India ranks third when it comes to the share of unicorns it is behind only the United States and China. India’s entrepreneurial journey is not new it began some four decades ago you are all familiar with these companies TCS Infosys Wipro these IT services stood up in the 80’s they invested in technology the hand is the potential of a young English-speaking workforce these companies brought India to the Global platform and offer the world cost-effective tech services the 90 gave birth to some big Indian banks ICICI, HDFC, and Axis it coincided with the advent of Airtel by 2011 InMobi had already placed in the on the Unicorn map in 2014 the Narendra Modi government came to power it prioritizes the digital transformation of India. startup India was launched in the year 2016 the idea was to encode build a robust ecosystem that is conducive to the growth of startup businesses to drive sustainable economic growth and generate large-scale employment opportunities today India’s startup sector is valued at 315 billion dollars it employs more than 500 thousand people today we’re living in a perfect startup ecosystem India has progressive government policies capital assistance from investors and the brilliance of Indian talent like I said now is the time to start up if you have a disruptive Idea? take it forward create a solid plan have a well-defined niche know your target group set your goals to hire wisely tighten your seatbelts and jump in to write the startup wave all the best.
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