What is startup culture?
STARTUP CULTURE HAS received a lot of attention lately — people are looking for ways to improve the overall experience at work and some are even champions of seamlessly integrating work into their life. People don’t have absolute power to demand a higher salary or more vacation days but they do have high expectations. They’re interested in opportunities to connect with others who will help achieve their goals and find greater satisfaction in the process. How do we begin to reach these goals? By defining our startup culture, we can commit to better supporting the work itself, improve operations, make a more valuable contribution, and gain greater personal satisfaction.
Every decade has a few milestone magnets that define that time. This decade is indeed the one that belongs to startups. The startup ecosystem has attracted thousands of young talented brains all over the world, and the good news is that India has also joined the race in a prolific manner.
According to Forbes (2016), excepting for the US and China to more Nasdaq-listed companies than any other country. On a per capita basis, Israel boasts of more venture capital funds, startups, scientists and tech professionals than any other country in the world. The country produces around 1,000 startups a year. The total number of active startups are anywhere between 4,300 and 6,000. Leading sectors of Israel startups are Automotive, Cybersecurity, Wearable technology (AKA Internet of Things), and Agriculture. If we look at the Indian startup ecosystem, then e-commerce and service-based applications are the ones that have dominated the landscape. As one of the largest agrarian economy of the world, India is still struggling to find authentic agro-based startups.
Only 200 million in a country of over a billion people can speak in English and nearly 70% of India continues to live in villages. While multinational corporations are struggling to penetrate the rural and semi-urban Indian markets, startups at home are overlooking such a gigantic opportunity.
Things to consider before diving into the startup world.
- Clarity of plan.
- Strong business model.
- The money necessary to start the business.
- A good strategic team.
- Positivity and never to say attitude.
Can Startup Culture become India’s backbone?
The idea is not to criticize but to introspect and analyze the startup ecosystem of India. We are way behind in numbers when compared to other leading countries. Moreover, there’s no system in place to gauge the quality and competency of the startup ventures in India.
Young startups, perhaps need guidance, direction, and exposure. The existing ecosystem is flooded with startup pitching events, seminars, workshops and so on. It is overwhelming to see the amount of support our young generation is getting. However, the question is, “are they utilizing these opportunities effectively?”.In my personal capacity, I have observed that young founders are very eager to know more about funding, accounting, marketing, and sales. Sadly, only a few talks about innovation, relevance, skill building, community integration, and sustainability. If the majority of the startups’ concerns revolve around funding and analyzing the market size, then, how are they different from conventional businesses? While funding is an important aspect, pro-active government policies and private players have to step in to create a more sustainable environment for start-ups. Whether in entrepreneurship startups or student venture, innovation is the key to achieving the highest competence. By pursuing a collaborative approach among multilateral stakeholders, the private sector can provide much-needed exposure, mentoring and seed funding to innovative ideas.