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Rise in Startups in India-Calculated Program or Just a trend
There is a much higher increase in the number of startups in India with Bangalore and Delhi-NCR being at its centre, is it a part of a cultural trend or intellectual sights.
A startup in Indian terms is a company that is headquartered only in India; the company was opened less than 7 years ago and has an annual turnover of less than 25 Crore. In 2019, 1300+ startups were opened (NASSCOM), and many startups didn’t make it to their first-round or in simple words fail at an early age. In 2018, more than 1,200 startups, including eight unicorns, taking the total number to 7,200 startups, NASSCOM reported. However, the seed-stage funding of Indian startups has declined from USD 191 million in 2017 to USD 151 million in 2018.
So, Why do the Startups Fail in India?
- Many startups are giving unrealistic discounts to attract customers. This leads to more investment with low profits. Giving initial discounts offers is a good strategy, but without a sustainable company model, the brand will not last a long time.
- Many entrepreneurs are imitating successful startups. For example, many startups replicated Amazon and Flipkart, but couldn’t succeed.
- India being a huge market houses many recognized brands and some companies out of them are market movers, also many industries in India are overcrowded such as food and tech, IT and e-commerce, which is more than needed right now, so new startups in those sectors are difficult to survive long term.
Startup India Program
The Startup India is an activity of the “Government of India” initiated in January 2016 by our honorable Prime Minister of India Narendra Modi to offer motivation to people who have a potential, concept and dare to execute their own venture or launch their own “Start-up”. The principle goal of Startup India activity is to support enterprise building or entrepreneurship and create employment opportunities. In the end, this activity is about the intensity of Entrepreneurship, how it can make loads of employments and how there is a need to urge our adolescents to make considerably more occupations.
Investments and Startups Programs
Softbank, with its headquarters in Japan, has already invested US$2 billion into Indian startups. Total investment from Softbank is expected at US$10 billion. Google has declared to launch a startup on the basis of the highest votes in which the top three startups will be allowed to join the next Google Launchpad Week, and the final winner could win an amount of US$100,000 in Google cloud credits. Oracle has announced to set up nine incubation centers in Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum, and Vijayawada.
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