Entrepreneurial Interventions Creating Plethora of Startups in India

Abstract

The objectives of a startup are to be one’s own boss and to create employment to others which warrants lot of endurance and sacrifice. Large population with high percentage of middle income group, educated youth with technical background, IT domination, high internet and mobile penetration are some of the drivers that have thrown up opportunities for spreading startup revolution in India. The ‘Make-in-India’ initiatives and other government schemes have also given a boost to startups with many individuals entering the fray. Starting a venture is a well planned and disciplined exercise with due consideration of both internal and external factors that may impact the sustainability of the venture. The idea behind the venture, market size, revenue and profit targets are some of the important factors that need to be clearly defined before embarking on the journey. Time, team work and tenacity are important elements which determine entrepreneurial success. Infrastructure, government regulations and availability of finance at various stages of growth could be some of the challenges for startups. In fact, history is replete with examples of startups which began with big fanfare but ended as damp squibs within a short span of time due to various reasons. The paper discusses few issues and challenges that an Indian startup has to face and the opportunities that the country can provide in the current ecosystem.