The journey of a thousand miles begins with a single step, this phrase is the basis of every startup in the world. All around the world, we’ve seen the rise as well as the fall of various startups. WHAT IS A STARTUP?
A startup is an idea that is transformed into a service, software, or product to eradicate a complicated problem by providing better a solution than what is existing already. Not too long ago, if one were to tell their peers that they left their high-income jobs to start their own company, chances are that they would have been ridiculed and made fun of but now, startups have become the primary engines for growth and job generation.
STARTUPS AND INDIA
India has grown and built an ecosystem of startups for itself. A young country, with 65% of its population falling under the age bracket of 25 to 35 years, India ranks 3rd in the global list of countries with the largest startup ecosystems, right after the U.S. and U.K.
The government also became more and more supportive of the startup sector which translated into more opportunities and avenues for startups to grow, along with better financial aid for the budding companies. The trust showed by the government also led to an increase in investments as investors felt much more comfortable investing in a government-backed field.
The Indian startup ecosystem has faced an economic explosion in the past two decades and will continue to grow in the upcoming years, as India establishes its position as the golden bird of startups.
Indian youth are not afraid to cast aside their 9 to 5 jobs to see their dreams take flight and become a living reality. They’re all set to break through to attain real powerful leadership roles. Technology is also emerging at a very fast pace in India & it would further lead to the growth of more startups in the country and with the different government initiatives, many people might be encouraged.