Startup Trends in India
Startup Trends in India for Wannabe Entrepreneurs
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India has moved from fourth rank to third rank globally in startups. This has been possible due to the tremendous support available in the ecosystem. Technology and aspirations of middle class have fueled startup growth.
The key feature of Indian Startups is revolving around solving problems in the Indian society. India has millions of problems and this has provided ample opportunity /ideas for startups.
Startup Trends in India-Quotes
“60% of Indians Employed in Organizations Today Aspire to be Entrepreneurs.”-GoDaddy's 'Future of Work Survey'
“We believe India is at a turning point in its development and have confidence that India will grow strongly over the next decade. As part of this belief, we intend to deploy significant capital in India over the next few years to support development of the market.” MayoshiSon, Chairman and CEO of SoftBank Corp.
Startup Trends in India-Key Trends
1. Startup fever is spreading to Tier 2 towns
2. Technology has provided level playing field
3. Startups are Hyper Local
4. Entry of more women entrepreneurs
5. E- Commerce App. Development
6. Health Care
7. IoT
8. Education/ Coaching
9. Online Business
10. Silicon Valley returned entrepreneurs
11. Campuses like IIM, IIT, IISC etc. promoting startups among students
12. Big Daddys of IT sector like Ratan Tata, Naryanamurthy and Azim Premji are investing in promising startup companies
Startup Trends in India- A few Examples
Quanted makes maths accessible and interesting .
Source: Economic times
“We
felt there was a big gap in the market. While there are a lot of startups,
coaching classes and test preparation platforms, trying to figure out how to
get students to improve their performance by three to five percentiles in the
next exam, there were very few that were addressing the huge conceptual
pitfalls that exist,” said Sudharsan Srinivasan, CEO at Quanted ,
Srinivasan, along with his wife Mridula Naresh, started Quanted almost a year ago. Their product , Picirql’s aim is to make mathematics relatable and interesting. To achieve this, the startup uses animations to show various concepts visually to students.
Startup Trends in India
Source- Sunday-TOI
2.Wedwise
Started by Ginny Kohli . (Electronics Engineer -UK)
A wedding platform that also acts as an aggregator to connect with different wedding services
3.Icliniiq- Consulting Doctor on phone-Telehealth Consultation
Started by Dhruv Suyamprakash. ( Busineess Famly)
This startup marries medicine with technology.
Source
Started by Vishal Lunia ( ISB- Hyderabad)
An aggregator which helps you discover space and people to play games. It has 700 sports and 1300 centers listed in Delhi.
5. Founding Years Solutions ( Brand Klay)
Started by Priya Krishnan (London School of Business)
46 Day care Centers in India
6. Seclore,
Started by Vishal Gupta- Cyber Security firm
Startup Trends in India-Emerging trends
Singapore wants to be the global capital of fin-tech companies.
Combines technology and finance.
Village Capital is an early stage investment fund and accelerator for fin-tech startups. They have ranked Fin- Tech companies and following three emerged as top three companies.
1.Profit Books is a simplified cloud accounting software
2.Catalyst Lab.- Mobile service platform to connect small scale suppliers
3.Shiksha Finance-Education Loan for low income group students
A few fairy tale funding in technology startups even before they acquired solid customer base has created illusion among aspiring entrepreneurs.
Due to this a few technology startups dream to
get massive funding instead of focusing on what problems they are solving
Startup Trends in India-Flipside
A few fairy tale funding in technology startups even before they acquired solid customer base has created illusion among aspiring entrepreneurs.
Due to this a few technology startups dream to
get massive funding instead of focusing on what problems they are solving
Startup Trends in India-Conclusion
Rise of new startup hubs — Kormangala in Bangalore and Powai in Mumbai are the new fast growing startup hubs.
The passion of individuals, strong eco system and funding availability will fuel more startups in India
“Businesses in India need to stop thinking of how to create a billion-dollar company for the next two years. The race to a billion dollar business means that there are a lot of stupid ideas floating around with no light at the end of the tunnel. The time frame needs to be longer to propel India’s nascent startup ecosystem.”- Alok Goel, former CEO of freecharge and redbus.
‘GharWapsi’ of Silicon Valley entrepreneurs
Quite a handful of Indian “techies” who had settled abroad , have now come back to India and launched their own entrepreneurial ventures this year - Vikram P Kumar of Explore, Mehul Sutaria of Transpedia, SanketAvlani of Taxi Fabric to name a few.
