The Startups : The heart of digital India
None would have ever imagined that India would stand third, only after the United States and China in this mega startup ecosystem, since 2016. With the objective of ‘creating jobs’ rather than ‘seeking jobs’, India is already on the map with talent and right skills.
Why Startups?
- Your passion gets a base.
- You are the manager.
- The base turns into a brand.
- Brand means business.
- Jobs are created.
- Skills are enhanced.
- Helps in creating a multi talented pool of teams.
Resources required ?
- Preparedness.
- A good business plan
- Focus
- Welcome the responsibility.
- Ready to accept the element of risk.
- Space for your startup
- Hard work.
- Team/supporters
- Funds(capital)
An individual or friends can manage all of the above, except for funds. Often the owners of the business take micro finance from the Bank, and in some cases self funding takes place. Did you know that the funding can be availed by the following ways :
- Equity funding : A percentage of company’s equity is sold in favour of capital (money)
- Debt funding : Money is borrowed and is returned with interest.
- Grants : A financial award given by a body to the company.
Once successfully established , your business would need the below resources :
- Your website
- Good location
- Mobile application
- Healthy supportive team
- Digital marketing services
Some of the successful startups in India are :
- Zomato
- Ola
- Flipkart
- Razorpay
- Swiggy
- Paytm
Conclusion :
While Startups are thriving in India with good turnovers, it is important to have transparency in operations and avoid unwanted budget allocation. Each step at a time will surely help. Analysing the customer needs / market is essential.