INNOVATIVE INDIAN STARTUPS: SUCCESSFUL ENTREPRENEURS
Almost every entrepreneur has a role model. In India, there are many successful entrepreneurs who are looked up to as pioneers. Sachin and Binny Bansal, who started Flipkart out of a two-bedroom apartment, put India on the global e-commerce map. Paytm’s Vijay Shekhar Sharma started with ₹10 in his pocket and went on to build a billion-dollar company. Ritesh Agarwal of OYO Rooms was recently on the the Forbes “30 Under 30” list in the consumer tech sector. And this is just the tip of the iceberg. More than 2,000 Indian startups have raised $15 billion over the last decade. It seems India, the gentle giant, has woken up! What’s Up, Germany? takes a look at five innovative Indian startups.
STOP OUT OF COLLEGE!
Some leading Indian colleges (BITS Pilani, MIT, a few IITs and NITs) have started offering students a time-out to pursue their entrepreneurial ambitions. Should the startup fail, the students can return to complete their courses. This academic break is increasingly getting more takers. Deepit Purkayastha took a one-year break from IIT Kharagpur to start News InShorts, a mobile app that delivers news in 60 words. Once the app was launched, he returned to campus to secure his computer science degree. Potential investors are not looking at formal qualifications; they’re interested in a disruptive idea. So stop thinking and start doing!
Famous college dropouts who became successful entrepreneurs in the tech world: Mark Zuckerberg, Steve Jobs, Bill Gates, Daniel Ek, Azhar Iqubal, Matt Mullenweg, Rahul Yadav, Arash Ferdxowsi.
Against the backdrop of changing global dynamics, India is being looked at as the next big propeller of economic growth. Back at home, while there are systemic challenges impeding the Indian economy’s resurgence, the atmosphere appears lively. The startup sector in particular has witnessed significant activity in recent times. It is thriving with numerous promising prospects, making it a lucrative destination for domestic and overseas investments. These [Indian] startups have the potential to not only enhance India’s economic prowess, but also address some of the pressing challenges that the country is facing today: a bulging youth population, unemployment and poverty, among many others. While the potential for this sector to grow exponentially remains, the existing ecosystem is far from supportive or encouraging. Corruption, lack of ease of doing business and archaic laws have become hurdles that restrict startups. The government’s latest “Start-up India” initiative is perhaps a much-needed step in the right direction. If implemented earnestly, it can nurture and guide startups to transform into critical contributors to India’s growth story.