With the advent of information technology when everything can be accessed with just some movement of the fingertips. People have witnessed 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 has solved the day-to-day problems faced by people.
The country had an evolution of startups when India began with its eventful journey of the startup culture with ups and downs in 2013. Since then the country’s startup economy has been seen to shine with more exceptional and innovative start-ups. Which are coming up to solve real-life problems. The support of the government and the easy access to the 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 hard times. Since then, the graph of Indian start-ups has never come 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 the potential to rise and use their innovative skills to grow. Using their knowledge and intelligence to solve daily life problems and earn from them. Because they have contributed highly to the evolution of start-ups. Today, rather than working with big companies, students and other professionals prefer working on their ideas.
Launching of various government policies to boost startup culture in India grow
The startup culture in India started with the Make in India campaign. The government introduced in September 2014 to target the growth of entrepreneurship in India. Following which the 2015 Startup India campaign was introduce promoting the growth of women entrepreneurs with funding and resources. Launched in 2016, the Startup 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 easier for technology-based startups to grow. Startups like Swiggy, Zomato, Byju’s, Unacademy, and others can depend on the easy accessibility of internet services.
Digitization, the advent of technology, and others help grow the startup culture. There are many reasons like this.
In difficult times we tend to turn towards innovation. Once the heavy recession introduced the idea of startups. At this time the coronavirus epidemic is profoundly affecting our lives. This has put hundreds of people at risk of losing their jobs. We use technology to solve employment problems. As a result, we can witness the arrival of new and innovative ideas.