Critical Analysis of Startup India.docx

IRE Journals, 2019

Entrepreneurship plays a significant role in the economic development of any country. Entrepreneurship acts as a pillar for the economic prosperity of a nation as it leads to generation of employment, contribution in national income, rural development, industrialization, technological development, export promotion etc. In India, various initiatives have been taken by the government from time to time for entrepreneurship development in the country. Entrepreneurship has attracted the attention of policymakers in India. A series of high-level initiatives, including Startup India, have been launched to promote private sector development. However, the role of entrepreneurship in development remains a mystery for many policy observers. The main purpose of this paper is to study about Entrepreneurship in India and its Promotion Under 'STARTUP INDIA' SCHEME. This study was done based on secondary data collected from multiple sources of evidence, in addition to books, journals, websites, and newspapers.

2021

India is the second most populated country in the world and it’s one of the biggest economies too but looking at its population, it’s still underdeveloped. India’s per capita income increased by only a 1% annualized rate in three decades after its independence. In 2018 its GDP growth rate was a mere 6.386%. The majority of India’s population is in the lower-middle-class category. This economic condition demands a better ecosystem to uplift and encourages startups that will help reduce unemployment in India. India has become a status-driven society where risk-taking and audacious behavior are not considered ideal. If this situation continues India will soon become a nation of clerks and government servants. With unemployment rising and competitive exams getting tougher, it’s getting hard for talent to get what it deserves. The below article highlights the challenges faced by the Indian Startup Ecosystem and

International Journal of Research and Analytical Reviews (IJRAR), 2018

In 2016, Prime Minister launched Start-up India mission in 2016 for the vision of discovering that the India become next big start-up Nation. Never seen in the history of India, so many dominant forces have gathered together to promote Start-ups and facilitate them to prosper globally. In the past few years, the Indian Start-up ecosystem has seen a mammoth growth, despite several roadblocks, adoption of play-to-win approach by the young and enthusiastic entrepreneurs was all time high. Start-ups are essentially of two kinds. One that starts something ground up, something that no one has thought about and is often ground breaking. Very complex to create this type of start-ups but once established often sees extraordinary growth. The second kind of Start-ups that we see around us is primarily the ones that do not want to reinvent the wheel. For making something new and innovative they are adding old sauce to new dish. Whatever may be the kind of Start-up, Indian Start-ups face its own set of challenges and some stellar opportunities. The present paper discusses about the Challenges and Opportunities faced by the First Generation Entrepreneurs at length.

International Journal of Engineering and Management Research, 2018

India needs 10 million jobs a year and global data shows that it is startups, not large enterprises that create net new jobs in any country. Startups are the centers of innovation and are a great way to enhance employment creation in the economy. The concept of Start-up India campaign was started on 15th August 2015. Startups involve dealing with new technology which generally lies at the highest end of value addition chain. India is a home to almost 3100 startups starting per year standing just behind the US, UK, and Israel according to the NASSCOM report of 2015. If the growth continues in the same pace then it is expected that Indian tech startups will generate almost 2.5 lakh jobs in the next five years. India is also said to enjoy demographic dividend and it is anticipated that by 2020 India will be a home to 112 million working population falling in the age bracket of 20-24 years as compared to that of 94 million workers of China. This demographic dividend will definitely boost the startup culture in the country. The Prime Minister's Startup India campaign is a great initiative to boost entrepreneurship in India. This initiative will play a very important role in further facilitating startups and providing a new dimension to entrepreneurship in the country.

Journal of Management and Science, 2019

India is a fast developing south Asian and seventh largest country by area. Large population of the country implies a large prospective market in India and puts more pressure for employment in the country. With the gen-next cool trend to start working on new ideas, India is all set to outperform all other nations on the world stage in the years to come. Setting up of small businesses by these young entrepreneurs is definitely going to boost the India economy in the near future. In the present decade, India is undertaking an essential shift towards startup welcoming policies and a business friendly environment. India is a populated country having increasing demand which is putting a competitive environment forcing to create innovative systems. One of these systems is a Startup ecosystem. This paper aims to study about the growth, prospects and effects of Startup systems in India.

An increasing number of new generation start-ups in the technology/knowledge-intensive industries have created something of an "euphoria" in major cities of India. This paper discusses the salient features of the start-up ecosystem that has emerged in our country, its adequacy for start-up promotion, and the measures needed to strengthen this. As a prelude, the paper traces the origin and phases of start-up growth in India, and its employment contribution, relative to the organised sector. The paper concludes with an emphasis on the need for a steady increase in new generation start-ups as a means of productive employment generation, economic transformation and growth.

International Journal of Commerce and Management Research, 2017

Startups have been the flavor of the season over the last few years for the Indian markets. This has resulted into the emergence of a number of home grown unicorns across the country. One of the major contributors leading to this development has been the mega funding that has been ploughed into most of these unicorns between the period 2007 and 2015. This has been in line with the global trend dominating the space. Even the aspiring unicorns have had a decent run during this period, where managing to find investors is usually considered a tough task. Making big bets on Indian innovation has become a global point of interest. Prime Minister Narendra Modi launched an ambitious program called Startup India Standup India. This was aimed at revolutionizing and accelerating the startup revolution in India, which is already witnessing strong traction. However the road to success is not as smooth as it appears to be. The larger problems plaguing the businesses, such as the unorganized and f...

International Journal for Research in Applied Science & Engineering Technology (IJRASET), 2022

The government of India characterizes a startup as an element under seven years youthful with a yearly turnover of under 250 million rupees and settled in India. The Startup India driven by the country's Department of Industrial Policy and Promotion helps construct a positive, powerful biological system in the nation, transforming business thoughts into a reality for a prospering startup climate. States and associations domains the nation over presented startup arrangements following the public authority's drive. In the case of traditional and older companies in India, there is a sudden urge for these companies to adapt to the changing market environment to tackle this situation in a good manner. In this paper, we reviewed the various studies done on the economic growth of the Indian startups and older companies in India in the last decade. From this, it was clear that there is a sudden emergence of individual entrepreneurship among the youngsters of India. This indicates that the startup culture in India is booming in this period which can play a vital role in the emerging Indian economy and also in the global markets.

Journal of Management Studies and Academic Research , 2021

The COVID-19 pandemic and the extended period of lockdown caused massive disruption in Indian start-up ecosystem. Strict restrictions on the movement of people and goods increasing both demand and supply side risk, lack of willing investors to back up risky ideas and above all a global recession looming in, made the existence of Indian Start-ups too much difficult. However, Indian start-ups have risen to these challenges threatening the very existence of start-ups, and have been utilizing the promising opportunities brought in by the New Normal. A number of sectors have succeeded in ensuring double digit growth figures amidst the pandemic crisis and are likely to continue their growth with the innovative product and service offering in future as well. The present article is a sincere effort to elaborately highlight on the success of these Indian start-ups who have fought back the challenges of the New Normal.