Journal of Xi'an University of Architecture & Technology ISSN No : 1006-7930

Startups in

Dr. M. J. Kolhatkar VMV Commerce, JMT Arts & JJP Science College, Wardhaman Nagar,

ABSTRACT The Indian government is increasingly showing greater enthusiasm to increase the GDP rate of growth from grass root levels with introduction of liberal policies and initiatives for entrepreneurs like ‘’, ‘’, MUDRA etc. ‘Make in India’ is great opportunity for the Indian start-ups. With government going full hog on developing entrepreneurs, it could arrest brain drain and provide an environment to improve availability of local talent for hiring by startup firms. Indian government is serious in promoting entrepreneurship at the startup level and has taken a number of initiatives to ensure appropriate support. Keywords: Startup India, Make in India

INTRODUCTION The Central government tried to address the problems faced by the young, entrepreneurial Indian, whose risk taking ability is unparalleled across the globe. Policy paralysis and lack of transparency were just few of the bottlenecks faced by the entrepreneur. Technology has a predefined role to play in Startups. The Internet-led industry contributes $30 billion today, which is a fraction of the $250 billion by 2020. USA internet business could grow from $240 trillion today to $3.5 trillion and from $700 billion to 1.5 trillion during the same period. The sheer size of change that Startups can choose to bring is mammoth and exponential. To create awareness and building an entrepreneurial environment, a lot of emphasis should now be given to creating infrastructure for mentoring startups. Various stakeholders such as the government, corporate, educational institutions and others are and should join hands to build a better ecosystem for young people. Youth is the main thrust behind advancement, creation, and the future pioneers of a nation besides Youth likewise drives request and utilization design in a nation. For new companies youth make up the workforce that it so urgently needs and going ahead youth can be a gigantic ability base for new businesses and most appropriate to address rising nations' difficulties since India has an interesting arrangement of issues that need advancements to start out of the nation issues around its wellbeing. The startup ecosystem is getting generous support from outside and Indian speculators, who have demonstrated more confidence in the business and have given assets to help these organizations to develop a wide margin. Indian government is serious in promoting entrepreneurship at the startup level and has taken a number of initiatives to ensure appropriate support. In this aspect it is relevant to mention ‘Make in India’ campaign introduced in September’14 to attract foreign investments and encourage domestic companies to participate in the sector. The government increased the foreign direct investment (FDI) limits for most of the sectors and strengthened intellectual property rights (IPRs) protection to instill confidence in the startups.In order to make the country as number one destination for startups, (GoI) has introduced a new campaign called ‘Standup India’ in 2015 aimed at promoting entrepreneurship among women and to help startups with bank funding. Another commendable and far reaching initiative is ‘’ introduced in 2015 to ensure government services are made available to every citizen through online platform that aims to connect rural areas by developing their digital infrastructure which translates into a huge business opportunity for startups. OBJECTIVES OF THE STUDY  To study the stages of the startup life cycle  To study the Opportunities for Startups

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STAGES OF THE STARTUP LIFECYCLE Pre Startup Discovery- Identify a potential scalable product/service idea for a big enough target market. Validation- The service or product discovered hits the market, looking for the first clients ready to pay for it. STARTUP Efficiency -The entrepreneur begins to define his/her business model and looks for ways to increase customer base constantly. Scale- Pushing the growth of the business aggressively while increasing its capacityto grow in every possible sustainable manner. GROWTH Maintenance- Maximizing benefits andfacing problems derived from the global dimension in terms of competition that the business has achieved. Sale or Renewal - The decision to sell the startup to a giant or acquire huge resources that the brand will need to continue growing as a venture. CURRENT STATE OF STARTUPS IN INDIA 1) the third largest Startup hub. 2) Average age of startup founders is 28 years. 3) 9% of the total startup founders are women 4) Total tech startups are expected to increase from 4300 in 2015 to 11500 in December 2019. 5) Average number of new technology startups has moved from 480 in 2010 to 800 in 2015. Expected to increase to 2000 in 2020. 6) Majority of startups and investors are from metro cities. 7) Approximately, 50% growth in share of female entrepreneurs in the last 12 months. 8) The number of Private Equity and Venture Capital firms has doubled in the last 12 months. Source: NASSCOM Startup India report 2015, Startup India-Momentous Rise of the Indian Startup Ecosystem, CII report on a snapshot of India’s Startup Ecosystem, Secondary sources, News article. Opportunities for Startups Large Population: The population of India is a huge asset for the country. By 2020, it is expected that the working age population would surpass the non-working population. This unique demographic advantage will offer a great opportunity to any startup. Various infrastructure issues and the bottom- of- the- pyramid market would provide huge opportunities for the startups. Connectivity: Indian telecom industry has nearly 100 crore subscribers, mobile connectivity has made inroads in the rural and urban population. Government of India’s digital push is going to improve connectivity and data to the next level. The race to cheapest data has started and disruption is certain. The cheap data has helps everyone to get their hands on it, start-ups will have an easier time to tap into markets, territories and even traditional businesses. Change of Mind Set of Working Class: Traditional career paths will be giving way to Indian startup space. Challenging assignments, good compensation packages would attract talented people to startups. Also, it is seen that several high profile executives are quitting their jobs to start or work for startups. To reinforce the trend being seen, a survey conducted by Economic Times also confirmed that the number of Students joining startups and e-commerce companies have grown considerably in the recent years. Innovation Society: India has the largest youth population, which is the largest driver for innovation, workforce, talent and future leaders. India has its own challenges of education, health, infrastructure and

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the rising gap between India and Bharat. This presents big opportunity for start-ups to solve a variety of problems. India has the population of 1.3 billion people; the country’s middle class is growing along with the consumers. The large diversity in the India’s population makes a strong case for a rich services and products economy. Start-ups should look at banks; our banking system has reaped the maximum benefit of our population size. CONCLUSION The Indian government is increasingly showing greater enthusiasm to increase the GDP rate of growth from grass root levels with introduction of liberal policies and initiatives for entrepreneurs like “Make in India”, “Startup India”, MUDRA etc. “Make in India” is great opportunity for the Indian start-ups. The Indian start-up ecosystem has evolved, being driven by factors such as growth in number of funds/angels, evolving technology, higher smart phone and social media penetration, growth in incubators and accelerators, younger demographics etc. Recent government initiatives like ‘Start up India, Stand up India’ India will only result in additional momentum in this space. BIBLIOGRAPHY  Anand, Paramjit, “ Opportunities for Startups in India”, Acreaty Management Consultant  Mittal Ashish, “Indian Startups: Challenges and Opportunities”, Economic Times, 24.11.14 https://economictimes.indiatimes.com/small-biz/startups/indian-startups-challenges- andopportunities/articleshow/45272  Graham, Paul (September 2012). Startup Equals Growth, in Graham's Essays on entrepreneurship  Government of India, “Fostering Entrepreneur” ,http://business.gov.in/enterprise/fostering.php  https://amity.edu/arjtah/pdf/vol1-2/10.pdf  https://jagannathuniversityncr.ac.in/content/uploads/2017/02/STARTUPS-IN-INDIA-online-journal- 1.pdf  https://www.gapjournals.org/res/articles/Paper%2030.pdf  https://www.grantthornton.in/globalassets/1.-member-firms/india/assets/pdfs/grant_thornton- startups_report.pdf  https://www.researchgate.net/publication/323855305_INDIAN_STARTUPS- _ISSUES_CHALLENGES_AND_OPPORTUNITIES

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