Startup is a new business which is not tied up to any other existing business or parent organization except for the purposes of normal business activities. Startups usually facilitate new ideas and in some cases be a catalyst to exploit new ideas on the basis of already existing ideas. Startups play an important role in a nation’s economy; more startups mean more jobs and employment opportunities. Innovations that come through startups can help increase the quality of everyday life.
Startups have a direct impact on the cities they are setup in Infosys has changed Bangalore, Alibaba has changed Hangzhou, Google transformed Mountain View and California while Microsoft changed Redmond. All these companies started small and became huge over the years, their success attracted young professional talent from all over for employment resulting to these employees residing in these cities. Online startups help off -line businesses grow across sectors.
India is experiencing great entrepreneurial leadership in the past few years. Startup culture in India is not a novel one. Right from the time of LPG (Liberalization, Privatization and Globalization) India has observed a significant amount of FDI (Foreign Direct Investment) which in a way also gives a boost to startups. FDI is the reason that India has felt the need to come up indigenous products and services which can be at equal par with foreign investments and gives the Indian population more variety of options to choose from
The Indian Governments initiative ‘Startup India’ in 2014 is boost for many individuals who do not want to follow the conventional path of joining multinational corporations and instead join the business world and give solutions to the many existing real-life problems. Startup India motive is to create opportunities and make resources available to men and women who have entrepreneurial ambitions and ideas. Number of initiatives by the government ensures that entrepreneurs have the required assistance at different levels of setting up their enterprise.
The Corona Virus Pandemic has hit every country worldwide and the its effects are still being witnessed by all. The world is experiencing severe recession due loss of profits that come from regular business function. Business had to halt their daily functions due to lockdowns which resulted in people losing their jobs. While people across the globe are preparing for a new normal, startups have also faced and are still facing their share of issues related to the pandemic and its subsequent effects on economy and life style.
During the great depression in US startups helped the population get back its jobs. Ali baba single handedly managed to transform the trade scene in SMEs when China had trade barriers. While some startups are still reeling the impact of COVID-19. Some startups are blooming and have taken the crisis in the form of COVID-19 as an opportunity to rise to the occasion.
Indian entrepreneurs acted immediately to reimagine their businesses; reports suggest that most of Indian startups have recovered from negative growth. Startups related to fitness and medical needs have seen growth up to 500% in the pandemic situation. Four Indian startups Nykaa, Unacademy, Postman and Razorpay emerged as unicorns while the pandemic was at its peak. India is on track to having at least eight new unicorns in 2020, on a par with the 2019 numbers, taking the total number of Indian unicorns to 33.
PM Modi has also emphasized on the need for “Vocal for Local” which calls for greater performance in the ‘Startup India’ and ‘Make in India’ initiative along with cooperation from Indian citizens towards these products. During the peak of the pandemic India started producing PPE kits and became self-reliant, credit to this goes to small industries and businesses in India. The PM has also urged young and talented Indian entrepreneurs to make more Indian games and games which are based in India, this increases opportunities in the OTT and Online Gaming sectors for Startups to come up.
While the COVID-19 pandemic is still a threat the economy startups, they have shown an upward trend when though batted with the effects of the virus and lockdowns, this nature only shows that self-reliance that a nation acquires with the help of innovation and ideas which ultimately comes through Startups and small businesses is an important asset to any developing or developed nations. During lockdowns when conventional methods of going about were restricted it was these small and businesses and startups that helped the nation and its citizens wade through the crisis.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
If you are interested in participating in the same, do let me know.
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We also have a Facebook Group Restarter Moms for Mothers or Women who would like to rejoin their careers post a career break or women who are enterpreneurs.
We are also running a series Inspirational Women from January 2021 to March 31,2021, featuring around 1000 stories about Indian Women, who changed the world. #choosetochallenge