The Indian economy has gone through multiple phases in recent times, some of which took it to great heights while others caused a steep fall. The different alterations in the country’s business culture could help India to grow at a steady rate. One of the many refinements in the industry is the upcoming surge of start-up companies. Start-ups are companies which are new entrants in the market, often headed by young leaders.
Various sectors are paving way for start-ups which are innovative and distinct in nature. The Indian eco-system of start-ups is relatively young and has a long way to go. The leading sector is the e-commerce sector which has a fiercely competitive environment. Apart from this sector, many other sectors have abundant opportunities for companies that can bring a tinge of novelty and unique imagination to solve the usual problems. However, many new entrepreneurs who wish to set up an organization have to face multiple hurdles be it political, legal or economical.
A recent research resulted in Bangalore being chosen as the best Indian city for start-ups followed by Mumbai and Delhi. Many lessons can be learned from the evolution of Bangalore. Unlocking public funds and pushing Venture Capital funds can increase the actual capital available for new entrepreneurs. Developing a sturdy environment for these new entrants also includes letting them co-create new ideas, tapping the potential in smaller cities as well as giving equal attention and encouragement to small scale ventures.
If these issues are effectively taken into consideration by the upcoming entrepreneurs as well as the government, there are greater chances of establishing a strong ecosystem of start-ups all over the country. It could also be a stepping stone for the Indian economy’s growth.