STARTUP: A startup is an initiative by entrepreneurs or individual founders who look for a repeatable and scalable business model. Founders design startups to effectively develop a business model.
With a growing population, the needs of people have also increased. The young generation has understood the needs and demands of people and has opened up startups. Startups like ola, Flipkart, Swiggy etc.. has grown rapidly in India.
The problem in the 90s
There was no much exposure to things like startup or entrepreneurship. After the independence the majority of the people were unemployed and the children were uneducated. So at then, it wasn’t possible to open a startup, people who already had their own business could only give employment. So the government introduced public sector jobs and Indian Institutes.
In the late 90s, people slowly started getting to know things. But then the majority of the people opted for engineering or medical. The entrepreneurs who just started then had very fewer means of communicating to the people across the globe. Without reaching to people, the young entrepreneurs neither found any investments nor they found workers. So it took them a long time to establish their company.
In recent years
Over the last 10-12 years, however, “entrepreneurship” and “startups” have become the new buzzwords. Startups have undoubtedly driven growth. Say it to be cheap data plans, online food delivery at your door doorstep or giving timely services to the people.
We had seen the problems in the 90s but, now the only problem what the startup companies face is the customers. The companies should provide good service and this benefits to its consumers. There is heavy competition between many startup companies. The entrepreneurs have enough resources to establish his/her own company and have an excellent mode of communication like digital marketing through Facebook, Instagram, or displaying ads in websites etc.. This gives a very strong reason that why the startup has rapidly increased during this era in India.
Indian online grocery delivery startup Grofers has received just more than $200 million from the Vision Fund. https://t.co/45cQNvEPrH
— WSJ India (@WSJIndia) May 15, 2019