A startup is any company in the initial stage of operations and such companies are mostly funded by their founders only. India has a great history of business, let it be trading spices, coffee or even precious diamonds. And India comes third in the world when we talk about the number of startups in a country; our nation approximately has 4200-4400 startups. The government of India supports the startups through various campaigns and programs. And the youth of the country is challenging self by diving right into the market instead of serving someone else’s business. “Start your own business and build it or someone will hire you to build theirs!”
India has a concentrated yet growing nature of startups. 66 percent of Indian startups are in three cities which are Bangalore, Delhi NCR and Mumbai on the other hand, cities like Pune, Chennai and Hyderabad are emerging rapidly. Around 75 percent of the founders are under the age of 35 which could help us say that the founders here are one of the youngest in the world. India has a good scope for startups as the nation is witnessing a firm economic growth and a stabilizing population. Some of the notable Indian startups are Flipkart, Ola, Quikr, Zomato and Paytm.
There are evenly some risks in Indian startups as a study says there are chances for 90 percent of Indian to fail because they lack innovation. This could be serious since what stated is not incorrect; if you check these startups, you will find out that many of them are repeating the ideas of others and somewhere the newness or the uniqueness is no longer there. This might be the reason behind the breakdown of startups in recent past such as Taskbob, Splitkart, Roomstonite, Shopo, Cube26 and the list goes long. Before starting a startup, you need to be self-assured with it and you have to scrutinize many other things; you can read our other blog ‘THINGS TO CONSIDER BEFORE STARTING A STARTUP’ for more.
One way or another, the country is at progress and the youth is pursuing own dreams instead of working for others’. The country with high population will be dominating many other zones in addition to the population