India ranks among the top five in the world in terms of the number of startups. India has made tremendous progress in innovation and startups and has become the world's third largest technology startup.
The launch of programs such as GST and Make In India has injected momentum into the entrepreneurial economy. Indian start-ups are on the line and are expected to increase in size and volume next year. It is estimated that India has about 4,200 start-ups and has created more than 85,000 jobs. In 2015, the investment amounted to more than 5 billion US dollars. Three to four startup companies were added every day. It is estimated that the number of Indian startups will increase to more than 11,500 by 2020. The employment opportunities created by these entrepreneurs will reach 250-300k. In the past few years, the number of investors has also increased many times.
Recent development
Indian startups have experienced many developments in the second quarter of 2017. From the choice of Google's accelerator program to raising funds from Chinese investors, the entrepreneurial ecosystem has been very encouraging. In July 2017, Google selected six Indian startups to participate in the accelerator project. Start with a startup that uses the latest technologies such as machine learning and artificial intelligence.
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Despite such promising statistics, only 9% of start-ups have female founders/co-founders. Delhi NCR, Bangalore and Mumbai as well as Hyderabad, Pune and Chennai account for more than 90% of the Indian GEM. The focus is primarily on products and services that support information technology, including e-commerce, aggregators, analytics, health technologies and online payments. Among them, the product startup department has been largely ignored. An important factor behind India's growth is software companies such as Flipkart and Ola. Hardware product companies rarely bring such success. The reason for this may be the lack of funds. The Indian ecosystem clearly does not have any scarcity in capital. However, only a very small amount of money reaches these startups. In addition, compared to US startups, Indian startups spend five times as much money as they raise.
This is where the government needs to intervene. By providing alternative sources of funding and through partnerships between industry and academia, governments can promote and accelerate growth rates. Alternative debt financing tools will help start-ups and other small businesses overcome the lack of adequate collateral, limited cash flow and the high-risk issues involved. While it is important to directly support start-ups and the right skills to start and run a business, the convenience of doing business in the country is also important. This includes the convenience of starting a business, obtaining relevant permits, obtaining credit, and paying taxes. Indian labor laws are also outdated. Therefore, appropriate government policies are needed to make India's start-up ecosystems realize their true potential.
However, governments and international organizations are investing in innovative ideas. Accelerate currency and infrastructure support. Startups are also making full use of existing facilities and showing signs of good times. This will certainly not be seen as an outdated trend, it will certainly change the way the current Indian market works. It is expected that government initiatives will also play a vital role in the bright future of the entrepreneurial ecosystem. For example, the Indian government's business sector is planning to organize a South Asian start-up meeting to exchange ideas and increase interactions between them to show confidence in startups.
Therefore, the previous quarter's scenario shows that investors' interest in Indian startup financing is still strong. The next quarter may be more attractive due to economic reforms and their implementation. Startups are now focused on reducing losses, improving overall valuations and achieving operational excellence. These qualities, as well as the positive sentiment of investors and government support, will enable India's entrepreneurial ecosystem to reach new heights in the near future.
Orignal From: Indian entrepreneurial scene - India is moving towards real potential
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