Hon’ble Prime Minister Shri Narendra Modi’s Startup India Initiative, on the eve of India’s 69 years of Independence, has changed the entrepreneurial landscape of young India, resulting in a new paradigm of growth and jobs.
Also contributing in a significant way to the entrepreneurial ecosystem is India’s mighty entrepreneur community, which is equipping and nurturing new entrepreneurs and helping them turn big ideas into booming start-ups.
770 start-ups have been recognised under the Startup India initiative so far and the success of the same can be credited to the 3 pillars that it revolves around – Simplification and Handholding, Funding Support and Incentives, and Industry-Academia Partnership and Incubation.
Besides the initiatives by the government, to promote the welfare of start-ups and support them as they enter India’s business ecosystem, the Confederation of Indian Industry Innovation and Entrepreneurship Council have made conscious efforts to build a start-up process manual which focuses on best practices for new enterprises.
This manual dwells on popular templates, basic principles, segregated procedures, vital practices and specialized views to help start-ups overcome hiccups and establish their initial years of operations.
Digital initiatives like 10000startups.com aim at setting up a cross-collaborative platform that can provide adequate support to start-ups and help them grow to the next level by benefitting from a wide network of mentors, industry experts, investors and enterprises.
Considering that, Indian start-ups were bought into extreme focus only 2 years ago, with Modi’s Startup India initiative. These formative years have already been able to lay a strong foundation for the laurels to come, thanks to the unanimous support received both by the government as well as the entrepreneur communities.
Having said that, we are still a long way from empowering Indian start-ups in a full-fledged fashion, and need to look at some aspects closely, to attain total success.
For a country that boasts of being one of the fastest growing economies and having the third- largest start-up ecosystem in the world, the new entrepreneurial scene in India looks promising.
The Indian government and association of industries are trying to provide a fertile ground to the new entrepreneurs of India, giving them enough potential to thrive.