Startups -A New Paradigm for Young Entrepreneurs

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.

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.

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.

GIS SCIENCE JOURNAL, 2021

A startup is a young entrepreneurial, protractible business model built on innovations & technology wherein the founders develop a product or service for which they anticipate the demand through interruption of existing or by creating entirely brand new markets. The economy of every country depends on its countrymen. Larger the number of employed or working people, better the economy. The Indian Government realized that Indian people have a potential to work hardly, all they need is a promising start up. Many people dream of starting up their own business but due to financial or other similar issues are unable to do so. So, Indian Government in the leadership of Narendra Modi has decided to offer a gift as a nation wise programme-"Startup India". "Startup India is a revolutionary scheme that has been started to help the people who wish to start their own business. These people have ideas & capabilities, so the Government will give them support to make sure they can implement their ideas and grow. Success of this scheme will eventually make India a better economy and a strong Nation." Startup India is an initiative of the Government of India.

Starting up a new venture amid rapid, radical change is challenging and demanding, but the growing Indian economy has compelled inviting new entrepreneurs to adopt new business models and think of innovative ideas for sustained growth, for managing talent by aligning the personal vision and organizational vision through organizations policy, procedures, practices and performance for a competitive advantage.

India is the second largest populous country in the world and it have more youth power than other countries and at the same time it have more unemployment rate, its unemployment rate is 3.43% which is huge when compared with its population. To control this unemployment our honourable Prime Minister Narendra Modi has taken a step to eradicate unemployment, and initiated a campaign Start up India. This is an action plan in this Banks will finance for start-up ventures. It is organised by Department of industrial policy and promotion (DIPP). There are various schemes available under this and the person with innovative ideas, will be benefited by this scheme. This creates an employment opportunity for many job seekers. Start-up India is launched in the year 2016, and by 2025 unemployment rate will come down to half because this creates many job opportunities. And this will improve our economic growth of our country. Many small and new entrepreneurs will be benefitted by this. Soft bank which has a headquarters in Japan had invested 2 billion US dollars for this. Our prime minister has requested all banks to support for this scheme. All the states in India were performing well in supporting start-ups, southern states shown great performance than other states. This paper highlights on the growth of tech based, non tech based, new business start-ups and number of days for setting up a new business, corporate tax rate and bank lending rate for start-ups in India compared to other countries. It also discusses about various schemes operating under Star-up India and their performance in the economy.

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 the second largest populous country in the world and it have more youth power than other countries and at the same time it have more unemployment rate, its unemployment rate is 3.43% which is huge when compared with its population. To control this unemployment our honourable Prime Minister Narendra Modi has taken a step to eradicate unemployment,and initiated a campaign Start up India. This is an action plan in this Banks will finance for start-up ventures. It is organised by Department of industrial policy and promotion (DIPP). There are various schemes available under this and the person with innovative ideas, will be benefited by this scheme. This creates an employment opportunity for many job seekers. Start-up India is launched in the year 2016, and by 2025 unemployment rate will come down to half because this creates many job opportunities. And this will improve our economic growth of our country. Many small and new entrepreneurs will be benefitted by this. Soft bank w...

Startup companies are newly born companies which struggle for existence. These entities are mostly formed based on brilliant ideas and grow to succeed. These phenomena are mentioned in the literature of management, organization, and entrepreneurship theories. However, a clear picture of these entities is not available. This paper tries to conceptualize the phenomenon, i.e. “startup”, and recognize the challenges they might face. After reviewing the life cycle and the challenges, the paper concludes with some concluding remarks.

GEIJMR, 2018

In India, prime minister has initiated to promote entrepreneurship from the root level to the limits of sky. To understand this concept we can correlate with the first generation entrepreneurship to the current 4 th industrial revolution there are so many ways to start our own business this has various methods to determine like the collaboration of department of Industrial promotion, ministry of small and medium scale enterprises, other ministries which are supportive either directly or indirectly and chamber of commerce's all over the country to encourage or define the activities in one step or single level process which is very important to this scheme. We also consider few points that may have relation between the Skill India and start-up India has because the moto of this two schemes are strongly arguing the creation or generation of the employment and reduction of the poverty in our country. The strategic advantage lies to understand the activities like policies formulation as well as the implementation of the policies in real practice has a critical issue or problem lies in this aspect. This paper focusses on the how people are responding or perceiving about this scheme after the successful completion of two years and suggested changes are elaborated.

Economic Annals-ХХI, 2018

Start-ups are an appealing business form that gives space for self-realisation to enthusiastic, brave and creative people. The start-up progress is conditioned by the development of the business model. Other conditions for start-up viability include monetisation of business effort, effective leadership and teamwork, business strategy and external business support. A survey conducted on a sample of 76, 72 and 53 start-ups in three stages in 2015, 2016 and 2017 examined the development of those beginning and imperfect micro-enterprises in Slovakia. The research results are as follows. Start-ups are relatively closed, and their business model is inadequately connected to the environment. Start-ups know their customers well, but they do not know how to get them. They do not create partnerships in a sufficient range and quality. The monetisation of the examined start-ups is a little sophisticated, too traditional and without experimentation. Just less than a third of start-ups sell their basic product or service for free and generate money by selling premium services only. The most developed blocks are still customer value proposition and customer relationships; the least developed blocks are distribution channels and revenue streams. Startuppers rely on the simple assumption that a working business model will provide a lucrative earning directly. The founders of the studied start-ups are capable visionaries, but less competent managers. Start-up teams have demonstrated a high degree of internal cohesiveness and support in unpleasant and unpredictable situations, but they lack a greater formalisation of work in a routine operation. Business strategies of start-ups are ambitious and international, but little verified in a competitive battle. The competitive advantage of start-ups is based on differentiation rather than on low cost. Start-ups do not trust the state support for business; they cooperate with large companies just a little, but prefer to work with the start-up scene and private investors. Start-ups must mature entrepreneurially, enthusiasts must become entrepreneurs and managers, and they have to learn how to monetise their business effort. Start-ups will be most aided by the cultural and civilisation development of a society that recognises entrepreneurship as a natural, useful and honourable resource for the development of the national economy.

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

The word "entrepreneur" is derived from the French verb entreprendre, meaning "to undertake". An entrepreneur is a person who, instead of working as an employee, starts and runs a small business, considering all the challenges and rewards of the venture. The entrepreneur is basically seen as an innovator, a source of creative ideas, goods, services and business/or processes. Entrepreneurs play an important role in any economy. They are the people who have the qualities and initiative required to anticipate and predict current and future business requirements and bring constructive new ideas to the market. Entrepreneurs who sail successfully through the risks of a startup are rewarded with profits, fame and continued growth opportunities. An entrepreneur plays a role of a coordinating agent in a capitalist economy. This coordination results from the efforts of the resources being channelized towards new potential lucrative opportunities. The entrepreneur drives required resources, both tangible and intangible, promoting capital formation. In a the business world which is full of uncertainty, it is the entrepreneur who can actually contribute in clearing up uncertainty, as he makes calculative decisions or assumes risk. Established organizations face increased competition and challenges from these budding entrepreneurs, that motivates them towards research and development efforts for their product & services. The Government of India has undertaken several initiatives and instituted policy measures to inculcate a culture of innovation and entrepreneurship in the country. Job creation is a utmost challenge facing India. With a significant and unique demographic advantage, India, however, has immense potential to innovate, nurture entrepreneurs and create jobs for the benefit of the nation and the world. This research paper tries to investigate the entrepreneurship skills in the youth and their expected outcome towards startup India. Keyword:-Entrepreneur, Skill Development,Startups.

International Journal of Research and Analytical Review, 2024

Creating new businesses and recognising startups are very important for helping the economy grow. These are pivotal in creating jobs, advancing technology, and diversifying industries. Entrepreneurship involves starting, managing, and running businesses with the goal of making profits, utilizing resources like land, labour, natural reserves, and capital. A forward-thinking entrepreneurial mindset is essential for nations to thrive in today's highly competitive global landscape. This mindset involves exploring new territories, making discoveries, and requires qualities such as creativity, adaptability, persistence, and determination. Innovation and entrepreneurship are closely linked, with entrepreneurs driving innovation through providing resources, funding, and guidance, while innovation provides a competitive edge by enabling differentiation. The Indian Government's Startup India initiative offers eligible companies the opportunity to be recognized as startups under DPIIT, granting access to various benefits including tax incentives, simplified compliance procedures, expedited IPR processing, and more. Innovation involves introducing new ideas, while entrepreneurship involves turning a promising idea into a financially viable business opportunity. The Startup India initiative strives to create an adaptable environment for promoting innovation and startups, promoting sustainable economic growth, and creating significant employment opportunities. Entrepreneurs who embrace innovation are better positioned to adapt to changing trends, technologies, and economic landscapes, setting themselves apart in a competitive market by offering unique value propositions that attract customers and confer a competitive advantage. Innovation is crucial for the pursuit of sustainable business practices. Entrepreneurs have the ability to develop environmentally-friendly products, implement efficient processes, and advocate for responsible resource management, thereby contributing to a more ecologically balanced future.

Journal of Finance & Corporate Governance

With the technological development, the appearance of the fourth technological revolution, digitalization in all sectors, and integration of artificial intelligence in different sectors. Startups appear in different sectors with the aim of growing fast and resolving the actual problems in addition to following the fast-technological development. Therefore, startups have an important role in the economies of developed counties because there plays an important role in generating new and innovative ideas with the aim of developing technological tools, innovative solutions to problems, and generating a wealth of economies. Following the complex environment, some startups face different obstacles and fail, however other succeed. In this paper, we try to present a theoretical overview of startups, their points of weakness, and what are the main factors of the success of a startup.