India Conglomerate has done us proud. As per a report by Yostartups, barring US and China, India beat all other countries to reach the third position. It has raised $38.3 billion in funding in 2018. And with Prime Minister Narendra Modi’s ‘Make in India’ mantra, it is only on the right track.
With brands like Flipkart, Swiggy, OYO and education app Byju’s leading the pack, Indian startups are in a coveted position.
The moolah is coming in and so are the praises.
What remains to be seen is the valuation and average health of most startups in India. Barring the big names, are most enterprises in a comfortable situation? Recently, India has seen a burst on the startup scene, with people leaving cushioned jobs and opting to start on their own. Was it a boom or a thought through strategy? Were most people doing their homework, market study, future growth analysis and planning before jumping to be a part of the bandwagon.
Pertinent questions that India Inc. needs to ponder on. Startup initiative has tremendous opportunities and growth, but only if planned and processed with practicality. Pumping in huge amounts of money basis the seed idea and then not being able to deliver, could land the fraternity in deep trouble. Mounting debts have forced many to abandon their boats.
Startup culture is on a tremendous rise in India. The mindset and the intention are in the right direction, only the calculated risks need to be handled.
With this position and accolade coming in now, it might just be the boost required for most.