Indian startup ecosystem seems to be graduating to next level
India’s startup ecosystem has been growing and getting increasingly strengthened by the day, for some time now. But those who are actively engaged with this ecosystem and those who are key stakeholders say that there are two significant new trends when it comes to India’s startup ecosystem.
India's startup ecosystem has been growing and getting increasingly strengthened by the day, for some time now. But those who are actively engaged with this ecosystem and those who are key stakeholders say that there are two significant new trends when it comes to India's startup ecosystem. Firstly, there are an increasing number of aspiring entrepreneurs who are coming from the tier-II and tier-III cities, suburbs with their bright startup ideas. And secondly, there are equally large number of senior and experienced people, who are leaving their jobs and floating their own startups. If happenings at YiFi Next, the physical flagship fundraising event at YiFi 2022 curated by FreeFlow, are anything to go by, these two significantly new trends are more than palpable. Therefore, the most significant takeaway of a startup and fundraising conclave of this magnitude is that there is no particular age or time to float your own startup and start something on your own. You can start it at any age and at anytime. All you need is that spark with innovative and disruptive idea. In fact, there are people who think that persons with years of experience and exposures to industry and corporate world, are at times better positioned to kick off their startups.
But hold your breath. These two are not the only new trends. There are many more. The game is changing. Startups are no longer running after funds only. Many of them seem to have realised that getting funds for the venture is just one aspect and one part of the journey. One needs to connect with other stakeholders in the whole ecosystem right from the early stage of one's journey. One needs to connect with the larger corporates, whom they would or supposed to feed in the days to come. One needs to get oneself introduced to prospective customers, from where the revenue and return will come in the days to come. One also needs to get connected with the government and government bodies. Earlier, startups used to be hungry only about funds and their sole attraction about such conclave used to be raising funds. But now gradually a realisation seems to have come that by only chasing money one wastes one's valuable time and energy. They seem to have realised that even getting connected among themselves is very-very important. The urge for inter-connectivity among the startup fraternity, thankfully, is growing very fast.
Fund raising therefore is not to be seen as a standalone activity or aspect. It all starts with application, then comes screening and shortlisting followed by grooming and mentoring and networking and exchange of ideas. Then comes actual pitching and investment commitments and last but not the least, follow-up to ensure that the funds flow in and the entrepreneurial dream gets translated into action. An aspiring startup has to go through all these acid tests and it seems that they are ready to go through. The Indian startup ecosystem seems to be graduating to the next level.