Use and adaptation of technology and increase in internet subscribers have drawn investors in the country’s start-up, says PRABHAT SINHA
Nowadays, global investors are increasingly interested in Indian start-ups. By the end of this year, start-ups will have invested more than $16.5 billion. Investors are bullish on the start-up ecosystem. With significant investment, the number of new start-up unicorns is also increasing day by day.
During the epidemic, entrepreneurs from many new sectors like e-commerce, logistics and food technology, emerged strongly .Start-ups in these sectors received good profits and investments and also offered different avenues of investment for interested investors. As a result, global investors have started considering our economy as a mature and robust economy.
Indian tech companies have also contributed immensely to the favorable startup environment. Everyone is aware of the world-class capabilities of our tech companies. The use and adoption of technology during the preent pandemic became inevitable, promoting our country's startup ecosystem. All the recently funded companies have used technology at an optimum level to enrich the lives of humans. Our start-ups are trying to solve global problems using innovative technologies like Artificial Intelligence, Cloud Computing, Blockchain and Robotics Process Automation.
The increasing number of Internet subscribers in our country is also a significant reason for the interest of investors. The easy availability of the Internet has also created new business avenues. Can we think of enjoying the services of Zomato, Amazon, Netflix, or Flipkart without the Internet? As a result, now, technology-enabled startups get a huge market and consumer base even if they are operating in India alone.
The recent Zomato and Nazara IPO are prominent examples of the maturity of the start-up ecosystem. Early investors of these companies have gained massive ROI after the launch of IPOs. In India’s open economy, start-ups get a suitable environment to grow and flourish.
Our country has a plethora of global talent readily available compared to their US and Europe equivalents. Most successful startup founders have excellent experience in their domain.For example, Zomato founder Deepinder Goel worked for management consulting company Bain & Co. before establishing Zomato. Meesho founder ViditAatreya worked for successful organisations like ITC and InMobi before founding Meesho. Working experience in top-class global organisations increases the ability to find alternative solutions in risk management, apart from knowing the global scenario. Moreover, there is an increase incoordination which is highly beneficial for the new entrepreneurs. Many successful startups support new entrepreneurs with capital and experience, which increases the productivity of the entire startup ecosystem.
With the Government’s Digital India initiative, availability of the Internet at a competitive price, innovative thinking, and the potential of Indian entrepreneurs, start-up companies are touching new dimensions of success today. Investment in start-ups is likely to increase steadily in the future. Investing in startups will create diverse opportunities for enterprise and employment in our country and strengthen economy.
Growing investment in start-ups will help realising the dream of a self-reliant India.