Start-up revolution in India

There are about 4,200 start-ups in India.Start-ups are thriving at an unprecedented growth in India.Most recent start-ups have brought with them either an introduction of a new idea or a step ahead improvement to an existing one.The basic idea of the start-up firm or a company is -Innovation in the process of Development.Despite the lack of the necessary infrastructure and facilities in India,these start-ups have not only managed to survive,but also been able to produce impressive results.

They are contributing to rapid generation of employment and facilitating the entry of new models of doing business.A lot of these start ups are paying employees well above the industry standards.They have a fast adapting and fast evolving way of working.An important reason for this is that they are not bound within a strict framework of rules, regulations and policies or pressured by industry expectations.

Some of these start ups were driven by individuals’ desire to do something on their own, in the way they want to.Due to this,they provide a much more flexible work environment to their workers.Both the monetary aspect and a flexible work environment are fast attracting young talent to these new businesses.They are even being applauded for performing better than many small and medium enterprises.

But there are huge challenges too.Launching a new start-up is quite risky because of a lack of funds to sustain.The individuals involved often lack the experience and the insights to compete with large organizations or pull through market risks.It is good that now corporates and individuals are readily investing in these ventures.It can help build a foundation where a culture of ideas and innovation can grow to create a better society.The government is also trying to reduce barriers to entry into business for both domestic and foreign players.This will further encourage funding to these start-ups.Thus,even as the global environment changes,they will be better equipped and robust to survive in unstable situations.

It cannot be denied that the challenge is big.But the advantages are even bigger.Therefore, this start up revolution needs to be supported and backed by all, in every possible way.

Written By:

Pratistha Chandra

IMB2015004(MBA Ist Year)

IIIT Allahabad