‘Startup’ has become the Buzz-word today!
In India, today the world of big corporations is being disrupted by these new-age entrepreneurs. Be it Hotel industry or F&B or organized transportation (read Taxi and Auto services), they are being disrupted.
Be it the Flipkart or Snapdeal who changed the way ‘Commerce’ happens in India, or be it Housing.com (real-estate) or Micromax (mobile phones). These Entrepreneurs saw how they could change the game and they did.
So what has changed in India for such startups to flourish?
- Change in Attitude: the first thing that was required was that one person or a startup to prove it. With startups such as Snapdeal, Flipkart, etc. and their success changed the way we think and changed our attitude. Stories from far of companies such as Apple, changed the way how the words ‘Drop-out’, ‘Entrepreneur’, ‘Startup’, etc. were spoken. It is not the shortage of minds or shortage of money that was holding these entrepreneurs back. It was their ‘mind-set’ that as holding them back
- Social Media: Social Media maybe the worst, but also the best thing that has happened to these startups. And, we all know what Social Media is and how best and worst it can be used. Yes, there are words like Social-shaming, Internet-trolling or Identity-theft being coined, but that is not the only contribution of Social Media. ‘They’ are also letting ‘us’ know what are these people up to and how are they changing the world. They are raising funds from Crowd-sourcing websites, they are taking feedback from platforms like Facebook, spreading awareness via Twitter, etc.
Social Media is like a Nuclear-bomb of the information broadcasting
- Availability of Funds: The other hurdle that any growing effort needs is ‘Money’ or ‘Funds’. And there is no dearth of it for Indian Startups today. It may not be as easy to get ‘Funded’ but it is available more than ever now. Rather, India is witnessing a shift here also, keeping itself aligned to the global trends. It is not just the Venture Capitalists or big Fund Groups for which we wait now; the Indian Startups are being funded by (domestic) Crowd-sourcing websites, such as Wishberry.in, Ketto.org, etc. and (International) such as Kickstarter, Indiegogo, etc. They are also getting funded by Indian Angel Investors, such as Nandan Nilekani, Narayan Murthy, Shibulal, and many more
- Support from Government: With the change of power at the Indian political helm, the Center, a lot has changed in the way government views these entrepreneurs and have at least started giving it a reasonable ear. From easing the norms to register companies to setting up separate funds for startups, government has started to show interest in supporting the Indian Startup Scene
In short, from mindsets to availability of resources, India has come a long way in the this field. and THIS is what is making India sprint towards becoming a real hub for startups.
Latest from the Startup Funding Scene
Here is a chart depicting Funding raised by Indian startups in past 6 months (source: trak.in)
According to the available data, various startups have raised USD ~6 Bn during the last 6 month, at various stages of their being. Here is the chart that shows more information
The above chart clearly shows the up-trend in the Indian Startups are receiving more money than ever.
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