With a decent growth of over seven percent and standing amongst the leading countries in terms of global economic growth, India has managed to attract the eyeballs at the business front. As established players continue to expand their dominance in unexplored territories, what’s more eye-catching is the emergence of a new trend – ‘startups’!
“Sell your vision, not just the products”
Said by an entrepreneur himself, this quote decodes the inner soul of a startup venture. Here, the entrepreneur is the magician and the idea is the magic wand that creates endless opportunities and opens the floodgates to a new world.
Nothing but a Game of Time
Startup business has taken the world by storm and one of the epicentres of this new trend is – India. Attracting the international attention with an influx of investor’s capital, India has emerged as one of the top nations on the global platform. Analysts suggest that the current landscape, growth factors, the latest trends, funding, and key policies are the driving the Indian startup ecosystem.
As a staggering fact shared by Start-up India and Nasscom, India stands just behind the US and the UK with approx. 20k startups and around 5k technology-led startups which are poised to double the count by 2020. The general mindset about the startup ecosystem has increased manifolds, thanks to the entrepreneurs who envision ‘out-of-the-box’ ideas and crafts them into business models. In addition, keeping the faith and pouring investments by the industry veterans have been the true motivation for the entrepreneurs.
Calling it a trend or an analysis, the fact that established organizations are investing in all around well-planned purchases of new entities has also driven the growth of new ventures. Furthermore, the mergers and acquisitions with the startups that have just tasted the success or have the potential spark by the giant players have ignited a fierce competition among the newbies of the industry.
Let’s explore few of the acknowledged startups in India that have been victorious in the battlefield and have cemented themselves as the pioneers of the startup market in India under different segments:
Flipkart
Tagged as India’s ‘biggest startup’, Flipkart was launched in 2007 as an online bookstore. This journey was commenced by two entrepreneurs and has successfully completed a decade of service in the Indian-subcontinent. Scaling up the ladder with mergers, innovative ideas, the crowning moment was when Walmart acquired a 77% stake in Flipkart at a staggering valuation of $16 billion!
Ola
Torchbearer of the ‘Taxi Revolution’ in India, Ola was introduced in 2010 as the first online-cab booking service. Backed by international venture capital firms, it’s valued at around $3 billion. The success story of Ola is a true inspiration for every individual who inspires to be an entrepreneur!
Paytm
Being the pioneer in revolutionizing the payment methodology in India, Paytm was founded in 2010 under the flagship of One97 Communications Ltd. ‘Paytm Karo’ evolved as a household name for every digital transaction. The transformation from a wallet to a complete financial platform has made a prominent name in the e-commerce industry in India.
OYO
Branded as India’s largest ‘Hospitality Company’, OYO was founded by Ritesh Agarwal in 2013. The voyage from being a college dropout to a CEO was a roller-coaster ride for the entrepreneur. Today it partners with approx. 9k hotels across India apart from having an overseas business. From grants to funding from prestigious international groups, OYO has come a long way and continues to be dominant in the hospitality domain.
As the Indian startup market witnesses a colossal development, it also shares a glimpse of the various magnitudes that designs the entire eco-system. The biggest motivation is the positive change of sentiments among the young minds that drive them to innovating ideas and take the plunge into the world of entrepreneurship.
