Startups in India: A New Era or Need of the Day?
It's a known fact that one of the biggest challenges India is facing is providing employment to the youth especially demanding millennials who are not ready to compromise. And why would & why should they?
Who can fulfill this need? Government? Large industrial giants? Big businesses? Certainly not. As evident these bodies are struggling to sustain themselves and working the very best to reduce their manpower. Is there anyone else?? The right answer is Startups. Ola Cabs, Paytm, Swiggy, Zomato are the popular ones to name a few.
While most of the economy is down in dumps, Indian startups are surprisingly flourishing.
The startup wave in India is getting stronger by the day and state level policies and initiatives are making a huge difference to boost the tech ecosystems at a regional level. The Startup India policy in the central government is piloting the direction of the over all tech industry, but at the same time, each state has its own policies to attend to areas that need the most attention. Such is the case with Andhra Pradesh too.
Andhra Pradesh(AP)has recently had to adapt to the changes in the region after its bifurcation. As stated by the Andhra Pradesh innovation society, a big challenge lies ahead in rebuilding the state from scratch. The Sunrise State of Andhra Pradesh is making rapid progress in all developmental dimensions. Continuing its steady progress the State envisions its transformation into an innovation driven society and this can be largely done by promoting and recognizing innovative products/ solutions that address societal problems.
In the Andhra Pradesh startup ecosystem, there is no particular sector that has too many startups. They are scattered across various sectors and interestingly most pf they are based out of Vijayawada or Vizag as these two cities emerge as startup hubs especially after losing Hyderabad's IT influence. In Visakhapatnam which is mostly known as the industrial center of Andhra Pradesh, technological advancements are becoming more prominent by the day which has helped the growth of many startups. The state government has also been supportive with numerous enablers like iTA-AP, (industry association for the IT BPM, and electronics sectors in Andhra Pradesh) AP Innovation Society (aimed to create a startup ecosystem in AP) StartAP Fest(run by entrepreneurs, freelancers and volunteers the largest conference of by and for Andhrapreneurs)and many more.
There are many success stories of AP startups like, Yes! Poho, which allows weavers and artisans to directly connect with customers
Continuing its steady progress, AP envisions its transformation into an innovation driven society and this can be largely done by promoting and recognizing innovative Products/ solutions that address societal problems
Earlier Startups were only thought of as being limited to the IT and/or service industry. But now technologies and inventions are emerging rapidly that no area is left out as untouchable being the automobile to education, health sector or FMCG and recently extended to farming exclusively urban farming. Opportunities are mammoth.
So if there are enough opportunities challenges are not so far.
Startups have always been hard. Even when you think you are putting in your best it may not be enough to pull it off.
Starting a business may seem like a great idea to pursue a passion, but it has its share of problems. It is obvious to plan about where to bring in the investment what kind of business will it be whether it will give a good return and lastly whether it sustain and provide a stable source of income. While these questions and the uncertainty can act as initial deterrents you can still start a business with a little bit of smart and effective planning.
"Starting your own business is like riding a roller coaster. There are highs and lows and every turn you take is another twist. The lows are really low, but the highs can be really high. You have to be strong, keep your stomach tight, and ride along with the roller coaster that you started & Lindsay Manseau, photographer, and entrepreneur.
As they say "We don't grow when things are easy. We grow when we face challenges."
If there are challenges, there are ways to overcome them. For each startup, the three most critical questions must be answered in its inception –
1.What is the concern of people that I am going to address?
2.How differently, efficiently and effectively am I addressing it?
3.Why would a customer prefer me among all available solutions?
If you are able to answer the above questions very precisely it means half of the battle is won. The nextpart is finding the right invesors and stake holders and get them to understand why you are so confident with this brilliant idea.
Truthfully, most people fail. But don't give up on your dream just yet. If you really believe that you have something amazing to share with the world(and there is a market for it) go for it. Don't be discouraged by the number of times you have tried and failed, but be inspired by the number of people who have failed and bounced back as successful entrepreneurs.
"The only worst thing than starting something and failing are not starting something"-Seth Go-din, founder of Quidoo.
Now the next challenge When is the right time to initiate a startup?
The right time was a thing of yesterday but even right now is not late but tomorrow certainly will be. And as far as timing, there is a new phrase for it "The world is of Now ist not Futuristic" as tomorrow is already delayed.
There is no age limit for success no specific geographical location is required success has no regards for your race. Have confidence in your plans and go the extra mile find your breakthrough. Let your story be inspiring positive uplifting!