a startup is a newly formed business with particular momentum behind it based on perceving demand for its product or service.the intention of startup is to grow rapidly as a result of offering somethimg that adresses a particular market gap.
Top startups in india
BOAT,NYKAA,UDAAN,SWIGGY,POSTMAN,SLICE,ATHER .these are some of the strartups that are booming in india.
Growth of startups in india
startups in india have grown remarkable over the last six years.the number of new recoginised startups has increased to over 14,000 in 2021-22 from only 733 in 2016-17 the survey said. india has become the third largest startup ecosystem in the world after us and china
Reasons why startups fail in india
India is third largest ecosystem for startups, yet 80%-90% of india startups fail within the first 5years of their inception.here are some key reasons startups fail in india.
LACK OF INNOVATION : according to survey,77% of venture capitalists think that indian startups lack innovation or unique business models.
LACK OF FUNDS: in 2008, the rental startup, TAZZO,shut shop, the reason, as given by one of its funding partners, was a failled product-market fit that led to drying up of funding. there are millions of startup ideas floating around. but to turn ideas into reality requires finance. lack of funding is one of the key reasons why startups fail.
LACK OF FOCUS:when bill gates and warren buffeet were asked about one factor that was responsiable for their success, both repiled with one word.”FOCUS” to understand focus we need to go for example grubhub is a food delivery startup.from the beginning, the company decided to focus only on food delivary. there’s a lot of other services that a company like taht could offer-pick up of food, catering,and more, but the founders chose to focus on jsut delivery. the result? they could execute technically and operationally and grow the business successfully.by look in feedback, both good and bad.do not go all out. decide and focus on one thing at a time.
UNICORN IN STARTUPS
The term unicorn refers to any startup that reaches the valuation of $1 billion. the term was first coined by AILEEN LEE, founder of cowboy venture when she referred to the 39 statups that had a valuation of $1 billion as unicorn. there are 105 unicorns in india the total valuation is $338.50 Bn. the year 2021, 2020, and 2019 saw the birth of the maximum number of unicorns in india. the first unicorn was seen in india in 2011, examples of unicorns in india are. zomato , phonepe , byju’s and soo on..
FEATURES OF STARTUP
HIGH GROWTH: startups exist to grow. if you start a plumbing business, just making enough profit to support your lifestyle may be enough, but a startup aims much higher some people say a startup should be growing 5-7% a week. of course, that’s just an estimate, and actual growth rates vary widely.
DOING THINGS DIFFERENTLY
To achieve that high growth, startups usually do things differently. that doesn’t necessarily mean inventing a whole new industry, but its means taking a markedly different approach to the companies that are already established.
COMMITMENT
Starting a business- any kind of business- can be a huge and all- consuming endeavour. most people who do it are very committed, and end up working long hours and putting their heart and soul into making it work.
STRONG INCENTIVES
Startup employees aren’t only committed because of idealism. stock options also help. in fact, when startups are hiring new employees, particularly in the very early stages when they don’t have much funding, they may not be able to offer very high salaries. what they offer instead is the chance to take a real, monetary stake in the future of the company, potentially enjoying a huge windfall if it takes off.
Education 