International Journal of Commerce and Management Research

International Journal of Commerce and Management Research






ISSN: 2455-1627


International Journal of Commerce and Management Research
International Journal of Commerce and Management Research
Vol. 3, Issue 3 (2017)

Startups in India- Retrospect and prospects


Harminder Singh, Manpreet Kaur

Startups have been the flavor of the season over the last few years for the Indian markets. This has resulted into the emergence of a number of home grown unicorns across the country. One of the major contributors leading to this development has been the mega funding that has been ploughed into most of these unicorns between the period 2007 and 2015. This has been in line with the global trend dominating the space. Even the aspiring unicorns have had a decent run during this period, where managing to find investors is usually considered a tough task. Making big bets on Indian innovation has become a global point of interest. Prime Minister Narendra Modi launched an ambitious program called Startup India Standup India. This was aimed at revolutionizing and accelerating the startup revolution in India, which is already witnessing strong traction. However the road to success is not as smooth as it appears to be. The larger problems plaguing the businesses, such as the unorganized and fragmented Indian market, lack of clear and transparent policy initiatives, lack of infrastructure, lack of knowledge and exposure, complications in doing business, etc. are at least now being identified as issues that need to be addressed. The framework and course of regulations need to be updated and adopted as per the times. The right policy matter announcements by lawmakers can be a push the growth of startups. To create awareness and building an entrepreneurial environment, a lot of emphasis should now be given to creating infrastructure for mentoring startups. Various stakeholders such as the government, corporate, educational institutions and others should join hands to build a better ecosystem for young people. In times like these, pro-reforms announcements are required to provide the much needed impetus to the general business environment in the country in the startup space.
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