The word startup exudes energy. It has a sense of movement and dynamism. The world over, people have been gripped by startup fever. And this comes as no surprise. The new economy, after all, is a digital economy.
It is widely acknowledged that Indians have played an integral role in the IT revolution. Entrepreneurship comes naturally to Indians; they are technologically proficient and possess an inherent business acumen. In recent years, India has developed a robust startup landscape with young entrepreneurs at the helm. It is among the fastest-growing ecosystems in the world. There are currently more than 4,200 new-age companies here. The digital revolution and the spurt in startups has transformed the Indian market. With an allocation of ₹100 billion, Prime Minister Narendra Modi’s “Start-up India” initiative promises to pave the way for young entrepreneurs. Young India is certainly on the move.
Germany, India’s long-standing partner in progress, has a lively and diverse startup ecosystem and the greatest e-commerce customer potential in Europe, with Berlin as the lodestar. One-third of German startups have made Berlin their home. The city features among the top 10 in the European Digital City Index. Munich and Hamburg are also making great strides. Young tech companies are driving growth and reshaping markets through innovation and digitisation. In 2014, investments in these startups doubled compared to the previous year.
Today’s startups are potentially tomorrow’s big businesses. Both Germany and India are key players in this global business ecosystem where momentum wins the day. Together, let’s strive, drive and thrive!