Start-ups. MNCs. Business Houses. Open Offices. Cafes! Entrepreneurs, geared up with massive adrenaline rush are anywhere, everywhere.
Today, business has changed, in fact revamped. Transformed beyond attendance sheets, appraisals and biometric testing systems! The entire world has its eyes on India, its youth, for that’s where entrepreneurs are born these days. Who knows, one of them can be you!
Flexible working hours, innovative business models, cross-function pollination of ideas and above all, vertical as well as horizontal growth—all of it has contributed in chiseling out this new face of India, literally booming the start-up market.
Poised for profitable economic growth market, Indian entrepreneurs with ample capital, exorbitant funding and unlimited resources are carving out new schemes of business development and digital marketing.
So, how did the wave of entrepreneurship literally hit the Indian market?
Well, after the post-1991 License Raj era, the aspect of functional ambition witnessed a breakthrough from government contacts, licenses and bureaucratic stronghold. With the rise of Information and Communication Technology, the current entrepreneurship cycle entered its embryonic phase, exploring out.
Definitely, one of the first names that comes across the list is that of N.R. Narayana Murthy, who co-founded Infosys Ltd. in 1981with a capital of capital of INR 10,000. Starting from literally nothing, today the number of visionaries has more than quadrupled. Internationally acknowledged names such as Verghese Kurien (Amul), Sachin Bansal and Binny Bansal (Flipkart), Prathap C. Reddy (Apollo Hospitals), Dilip Sanghvi (Sun Pharmaceuticals), Kalanithi Maran (Sun Goup) are to name a few. Even the females are not behind, with protagonists like Indra Nooyi (Pepsi Group), Naina Lal Kidwai (HSBC India), Kiran Mazumdar Shaw (Biocon), Chanda Kochar (ICICI Bank) and Simone Tata (Lakme). What put them in the same pedestal was definitely enormous amount of fire in their bellies.
With flawless incubation period provided by Indian economic scenarios, even countries like Symantec, Logitech, National Semiconductor, Sun Microsystems, Hewlett Packard, and Intuit have been heavily funding the start-ups in India.
With the elite pass-outs of IITs, IIMs, NIFT and other prestigious institutions, the brain drain has subsequently declined. Even several colleges of entrepreneurship have groomed up, like Indian Institute of Entrepreneurship, Infinity Business School, Adianta School of Leadership And Innovation, Entrepreneurship Development Institute of India and Institute of Marketing and Management.
In fact, there has been a 300% rise in the first quarter of 2015 in entrepreneurship growth in India, beating our main current rival China. YourStory reports that Indian startups have raised $1.7 billion from investors in 2015 alone. The growth has been unilateral, be it in mobile, eCommerce and SaaS companies.
The NASSCOM, 2014 report reveals that number of technology startups have tripled to 3000. Interestingly, two-thirds of India entrepreneurs are less than 30 years of age. Moreover, the hot beds of technology entrepreneurship include Health care, retail, and SMAC (social, mobility, analytics, and cloud).
At the same time, the bubble shouldn’t burst.
And with so many opportunities, it certainly won’t. Let’s keep our fingers crossed and get inspired by innovation and true talent. Bingo! There has never been a better way, definitely!