Page 36 - August-2020-Issue

ARTICLE

Challenges ahead Possible Solutions people to dream.
Whiles there are success stories The Indian Ecosystem is witness- As could be observed, Startups
of foreign nationals run Startups, ing both successful and early make mistake in focusing too
there are challenges as well failure case. These challenges of much on the product and tech-
faced by these foreigners in India Startups, with capacity to change nology, but fail on the market-
with the taxes, lack of institu- the face of the Country if made suc- ing front and in turn, makes it
tional support and especially cessful, influenced to understand difficult to get customers. Youths
when someone is women. As co- the views of key Stakeholders, and emerging startups should be
founder of StanPlus, Mr. Singh Academicians, Venture Capitals, smart learner. As we know, SMEs
has to say, the country needs Women Leaders & Entrepreneurs play a pivotal role in growth of
more diversity in the people cre- and Development Practitioners the country, contribution to GDP,
ating new age companies in order throw light on close perspective Exchequer, Export and also in
to bring fresh prospective and of functioning of Startups, modus making the country self reliant
work ethics, which could raise operandi of funding agencies, with import substitution. For pro-
$ 1.1 Million in funding and oc- role of public sectors in promo- motion of SMEs, which can also
cupies 30% market share in tion of Startups, challenges faced give oxygen to Startups, policy of
Hyderabad. Mr. Amit Mahes- by upcoming Startups. MSMEs that enunciates 25% for
hwari, CA, Ashok Mahesh-wari If go by the Policy Makers and these sectors and of which 3% for
& Associates Firm, feels India is Implementers, thrust has been Women SMEs, adoption by PSEs
still not considered a lucrative in making Startups Economic and Govt. entity can give a boost
destination to set up large scale Engine of the Nation. For emerg- to this sector.
businesses for bureaucratic de- ing Startups, the words of wisdom
lays, frequent regulatory changes are to innovate, to succeed and to Invest India, started in November
in certain sectors and lack of in- have a good team but as leader of 2015 as a one stop shop for inves-
vestor’s trust dampen their spir- Startups it is their job to educate tors, is bringing global perspec-
its. The degree of concern may to allow more inclusiveness to- tive of investments in startups,
vary, yet throw light on areas of wards they do. As could be seen, According to a survey, 70% of
improvements. The two areas the challenge before PSEs is how the people like the idea of en-
where foreign entrepreneurs face do they assimilate the Startups, trepreneurship, however it falls
the most resistance are in hiring ideas and innovations? Words of down to 25% when it comes to
senior talent and in getting inves- caution are, focus should on qual- actually people doing it, as in-
tor interest. ity of product manufacture and formed by the learned expert
services rendered. For inclusive- from Invest India. India is emerg-
Looking at 543,000 new business- ness, as emerged, it is essential ing market for the world and
es launched every month and as not to just create an enterprise, hence Startup India movement
various reports or studies sug- also to create impact on society & needs involvement and support
gest, 70% of Startups do not make country and generate income si- of all the stakeholders to create
it beyond three years. This seems multaneously which would allow Startups Ecosystem with partici-
to be serious concern if Startups pation of youths in creating new
are to shape New or Future India. ventures, self employment and
Most of them face similar hur- sustainability.
dles as they struggle to get past The gap between Govt. entity, like PSEs are sup-
the valley of death. Most of en- overall funding and porting Startups in big way.
trepreneurs fail, because they NRDC is supporting not only
are in love with their 'Proposed seed funding also needs Startups and also some of the
Solution.' A major reason why attention if Startups are PSEs towards innovation ini-
companies fail is that they run to be supported when tiatives, as informed by Dr. H
into the problem of building a Purushotham, CMD. Youths
product without testing or vali- they look for more of should move beyond Startup
dating it with customers - issue of seed money. hub to Sector specialist hubs by
product / market fit. aligning state policies in creating

36 KaleidOscope May, 2020