The IUP Journal of Entrepreneurship Development
Startups in India: Ecosystem, Best Practices, and Global Benchmarks
Article Details
| Pub. Date | : Mar, 2021 |
|---|---|
| Product Name | : The IUP Journal of Entrepreneurship Development |
| Product Type | : Article |
| Product Code | : IJED10321 |
| Author Name | : Nitu Saxena and Sweta Siddharth |
| Availability | : YES |
| Subject/Domain | : Management Journals |
| Download Format | : PDF Format |
| No. of Pages | : 20 |
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Abstract
Startups are one of the most promising ways to solve problems and implement fairly quick solutions in areas such as payment systems, delivery of services, sharing of information, etc. The Indian market offers huge opportunities for startups to excel, grow and offer innovative solutions. Successful entry, growth, and a value-creating exit for startups require a sustained and coordinated support environment through an effective startup ecosystem. Bringing integration and synergy in various government initiatives is highly important to achieve this objective. The data suggests that startups can raise early-stage capital through the startup ecosystem in India, but the most significant gap in funding is observed at mid-stages of the business cycle when startups enter the growth phase requiring Venture Capital (VC) investments. Lack of a reasonable surety about a planned exit remains a top worry for VCs in the Indian ecosystem, which needs to be addressed. This paper provides a comprehensive overview of the startup ecosystem in India in juxtaposition to global standards. It brings out a 360-degree view of the issues surrounding the startups, presents some success stories, best practices, challenges, and suggests a way forward for a robust growth of startups in India.
Introduction
Startups are one of the most interesting forms of business as they offer unique opportunities for innovation and growth. A strong entrepreneurial spirit lies at the heart of startups. Startups are not about a particular form of organization or processes but these are about a unique culture believing in the importance of failure as an opportunity for learning. Startups in their best form are vehicles for entrepreneurial innovations trying to find solutions for problems (Korreck, 2019). This paper provides an overview of the policy and socioeconomic environment of startups in India, global developments, and documents some good/ innovative practices adopted by successful startups.
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