Gamma Talks

The Boom of Startups in India- an exciting phenomena

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India is home to more than 100 unicorns, the third highest globally! The “Make in India” campaign certainly inspired the next generation of entrepreneurs and innovators in our country! In the past ten years, our nation saw an extraordinary surge of creation and funding of startups. It has solidified the position of India as a major innovator and business hub at the global level. 

Startups are young companies at the initial stages of development usually having limited capital. But the limited capital can’t faze the enthusiasm and vision of the founders to disrupt the industries. Startups usually get in products and services there is a need for. They are crucial for economies around the world. In the Indian landscape, startups help in job creation for the youth, new investments, more research and development, improving GDP and democratising tech benefits. 

The rise of startups in India can be attributed to various factors, like government initiatives, access to funding, technological advancements and market potential. 

Let’s take a look at all these factors in detail.

  1. Government Initiatives

One of the most crucial factors responsible for the blossoming of startups in India are the initiatives and facilities provided by the Indian government. Initiatives like “Startup India” and “Make in India” have provided a very supportive environment for small companies, by introducing tax benefits, funding schemes and simplified regulations. 

  1. Funding

Startups usually start with limited funding. Hence, another important factor for growth of startups is the availability of funding. A huge number of funding platforms are available to entrepreneurs, such as venture capital firms, angel investors and crowdfunding. One of the most prominent examples of this is Shark Tank India. They not only provide the much-needed capital, but also bring to the table mentorship and industry expertise. 

  1. Technological Advancements 

Advancements in technologies like AI, blockchain and cloud computing have fueled entrepreneurship and innovation, leading to new startups, which bring in futuristic solutions. Also, with the advent of social media, it has become easier and cheaper to market the firm and also reach the customer base. 

  1. Market Potential

The middle class in India has been steadily growing over the years. The availability of disposable income has created a demand for convenience, comfort and leisure. Internet access has made it easier for customers to find out about new and growing companies. The Internet also helps in reaching out to the rural areas, getting more potential.