With the advent of information technology when everything can be accessed with just some movement of the fingertips. People have witnessed a major growth in the startup culture in India. From getting food delivered by Swiggy or Zomato to booking a room by OYO. You can also have your cosmetics delivered at your doorstep by Nykka, every start up in its different ways have solved the day to day problems faced by people.
The country had an evolution of startups when India began with its eventful journey of start up culture with ups and downs in 2013. Since then the country’s startup economy has been seen gleaming with more exceptional and innovative start ups. Which are coming up to solve the real life problems. The support of the government and the easy access to internet has helped boost the country’s start up hub.
Startups in India were started with the idea to provide employment opportunities to the citizens and boosting GDP. It started as a result of difficult times and after this, the graph of Indian start ups never came down.
Various factors helped the start ups to evolve in India. From government support to easy internet availability, everything has helped it to grow. Through this article, we will shed light on how these factors have evolved in the last 5 years.
Reasons for the growth of startup culture in India
Gleaming potential of the youth of India
With a dominant population of youth between the age bracket 16 to 35. India has a majority of youngsters with potential to rise and use their innovative skills to grow. Using their knowledge and intelligence to solve daily life problems and earn from it. They have contributed highly in the evolution of start ups. Today, rather than working with big companies, students and other professionals prefer working on their own ideas.
Launching of various government policies to boost startup in India grow
The startup culture in India started with the Make in India campaign of the government introduced in September 2014 to target the growth of entrepreneurship in India. Following which the 2015 Start Up India campaign was introduced promoting the growth of women entrepreneurs with funding and resources. Launched in 2016, the Start up India campaign was the most impactful in promoting startup growth.
Easy internet access
With the easy availability of internet services in India. It has become even more easier for the technology based startups to grow. Startups like Swiggy, Zomato, Byju’s, Unacademy and others can depend on the easy accessibility of the internet services.
There are also other factors like digitalization, easy funding options, advent of technology and others that have helped in startup culture in grow.
In difficult times we tend to turn towards innovation. Once the heavy recession introduced the idea of start ups. Today when the coronavirus pandemic has deeply affected our lives and risked the jobs of hundreds of individuals. We may hope to witness the coming up of new and innovative ideas using technology to solve the employment issues.