STARTUPS IN INDIA: AN OVERVIEW | Top 10 MBA Colleges in Bangalore

Posted by Dr.Anilkumar.R On 20/10/2022 11:27:30

Start-up India is a flagship programme of the Government of India designed to develop a robust environment that is favourable for the creation of startup firms, to promote sustainable economic growth, and provide large-scale job opportunities. The government, via this programme, strives to help businesses develop through innovation and design. 

Several projects have been conducted since the inauguration of the initiative on January 16, 2016, by the Hon’ble Prime Minister to contribute to his goal of changing India into a nation of job creators instead of job seekers. These initiatives have stimulated the startup culture, with businesses being recognised via the Start-up India initiative and numerous entrepreneurs utilising the advantages of launching their own firms in India. top 10 MBA colleges in Bangalore

India is the 3rd biggest startup ecosystem in the world and is predicted to observe YoY growth of a continuous yearly increase of 12-15%. India has over 50,000 businesses in India in 2018; roughly 8,900-9,000 of them are technology-oriented startups 1300 new tech businesses were formed in 2019 alone, meaning there are 2-3 tech startups launched per day. 

The rate of expansion in the startup ecosystem has climbed to 15% year-on-year in 2018, while the growth of the number of incubators and accelerators has expanded to 11%. Significantly, the number of women entrepreneurs was at 14%, up from 10% and 11% in the preceding two years. MBA in data science in Bangalore

Startups in the nation have been able to generate an estimated 40,000 new jobs during the year, pushing the total positions in the start-up ecosystem to 1.6-1.7 lakh. Bangalore has been placed among the world’s 20 top startup cities in the 2019 Startup Genome Project rating. It is also regarded as one of the world’s five fastest-growing startup cities. 

Some of the variables affecting start-up development in India include: 

Corporate Connect 

Enterprises are understanding the disruptive potential of start-ups and are partnering or investing in them. Examples of corporate support: 

Facebook, in conjunction with Startup India, granted cash incentives of $50,000 each to the top 5 shortlisted businesses. The 10000 Women initiative by Goldman Sachs is enabling women entrepreneurs all across the globe with business and management education, mentorship and networking, and access to funding. The Microsoft Ventures Accelerator Program in India has just picked up 16 companies. 

Incubation Programs 

Government Support 

The government of India is realising the importance of engaging with disruptive innovators throughout the value chain and harnessing their inventions to enhance public service delivery. 

The Department of Animal Husbandary and Dairy has held a grand challenge in partnership with Startup India to reward top businesses in 5 categories with ten lakh rupees. MBA colleges in Bangalore list

The Small and Medium Businesses Development Bank of India has created a plan to offer support to current small and medium businesses in need of cash for expansion. 

Over 26 states in the nation have startup policies.

Growing Unicorns in India:

In 2013, venture investor Aileen Lee popularised the word "unicorn" within the startup ecosystem to denote the rarity of firms having a value of over $1 Bn. A decade later, unicorns in India are no longer unusual! In May, India became home to 100 unicorns when neo banking company Open raised $50 million to claim the title of India’s 100th unicorn.

India surpassed the milestone immediately after a crazy financing year that saw Indian companies raise $42 billion over 1,583 transactions in 2021, minting 42 unicorns in the process. India concluded 2021 with 86 unicorn firms and is within a striking distance of scoring a century of unicorns, according to Inc42’s unicorn tracker.

The march continued in 2022 when India added 20 more unicorns to the club.

From generating its first unicorn in the shape of InMobi in 2011 to achieving a century of unicorns in India by 2022, it has been a long and dramatic road for the Indian startup ecosystem. The nation is experiencing an unprecedented boom in VC investment and IT entrepreneurship, and the Startup India programme has played a significant part in it. private MBA colleges in Bangalore

Since its establishment in 2015, a flurry of initiatives, FoF and theme funds, incubation programmes, tax holidays, and tax advantage schemes have been announced and implemented under the Startup India initiative. With a large tech shift to digital services and goods in place and an active internet subscriber base of over 783 million (as of February 2022), India is now ready for the next stage of tech advancement.

While 2021 was the year of record-breaking fundraising, 2022 has seen India accomplish a historic milestone in the first few months with 20 Indian businesses joining the unicorn club. The emphasis should now be on the sustainability of these 100+ unicorns and assisting a new generation of Indian entrepreneurs in becoming unicorns.

However, to achieve the plausible target of having 250 unicorns by 2025, the government will need to work on removing some of the obstacles like structural issues in the economy, preventing the migration of Indian startups to cities like Dubai, and improving the ease of doing business, among others. MBA in digital marketing in Bangalore

Conclusion:

Indian Government startup policies and aggressive support from Government have created many opportunities for the economy of India. With this, the Global Impact of Covid-19 and Ukrain-Russian provided an opportunity for India to contribute to the Global economy by influencing the transition shift of Western manufacturing Industries from China to India in semiconductors, Electronics, AI, Robotics, Defence Tech, etc.  India is today considered to be a more responsible Democracy and Global Leader with its foreign policy and political leadership.  We can foresee more startups becoming unicorns with this trend as FDI increases, more foreign investors are ready to invest in India as the Infrastructure growth is creating more opportunities. For example implementation of 5G in India in September month on the year 2022, with the advent of the UPI system, India is plunging to become one of the top fintech providers in the world.

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