STARTUPs:CHALLENGES AND WAY FORWARD

Posted by Sharad Sharma
June 10, 2017

Self-Published

On the eve of Jan 16, 2016 prime minister launch “startup India” with focus of creating an ecosystem that is conducive for growth of startups. Objective is to create India a nation of job creators instead of being a job seekers this brings a lot of positivity among the entrepreneurs in India and industry is elated by the fact that India has third largest no of startups globally.

Challenges faced by startups:

  • Lack of good mentors: finding good mentors is often an uphill task.
  • More failures than success.
  • Addressing funding challenges: over 94% of new businesses fails during first year and funding is the one of the common reason .90% of funding come from foreign venture capitals.

Funding options:

  • MUDRA SCHEME :Initial corpus of Rs 20000 crore to extends benefits to around 10 lakh SMEs
  • BOOTSTRAPPING : self-financing
  • CROWD FUNDING
  • ANGEL INVESTMENT
  • VENTURE CAPITAL: professionally managed funds who invest in companies that have huge potential.
  • BUSINESS INCUBATORS AND ACCELERATORS : like parents
  • MICRO FINANCE PROVIDERS OR NBFCs

WAY FORWARD

EMERGING INDUSTRIES:

YOGA INDUSTRIES :entrepreneurs should focus on how to make yoga a profitable and commercial ventures with rising no of violence and frustration in the society now a days spiritual gurus and organization started their spiritual entrepreneurship like art of living, patanjali, isha foundation etc. providing employment to many people.

 

  • SUSTAINABLE FARMING OR GREEN FARMING: With the increasing population and decrease in land holding and urbanization led to distress on farms and in the near future farms were not be able to generate sufficient amount of food and increasing use of pesticides will enhance the demand of organic food and fodder .
  • EVENT MANAGEMENT:  RISING no of events led to huge upsurge in event management firms.

CONCLUSION:

Since the doom of unemployment is already approached this nation successful entrepreneurs will change the scenario of the nation and will position India as one of the biggest startup hub and will make it biggest importer in some field .For this India needs better govt initiative and a society which accepts failure and accepts the unconventional way of thinking . Youth must be trained in such a way that is not problem centric but solution centric .Country needs to move fast to realize the demographic dividend. If it fails, the demographic dividend will turn into demographic disaster.

IN the end “Arise ! Awake! And stop not until the goal is achieved”

 

 

 

 

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