By | Ashok G | Entrepreneur in Startup Space. Hands-on in Setting up-Failures-Scale-up-Transformations-Investments-Train-Teach-Coach
Tons of changes has gone by – Be it policies, rules, legislation, governance norms around investment options, taxation, technology availability, funding avenues , talent, corporate’s involvement …..are changing the rules of the game.
In many ways ,2010–2020 has been a Build phase (Phase-1) impact of which can be seen in the current startup ecosystem , few of my picks are :
- Maturity of ecosystem:
- Startup Policy roll-out in 25+ States & Central Govt.
- Corporations, MNC’s , center of excellence , innovation labs , Government department programs (ministries , PSU’s..)
- 5000+ Investors (Angel/VC/PE/ networks included),
- 500+ Incubators (institutions/Govt/private)
- 200+ Accelerators (private/VC led/Corporate/Global …)
- 100+ Co-working spaces,
- 100+evens pa,
- Global participation & involvement from 30+ countries through consulates & industry bodies
2. Market Explosion : Consumer Internet is expanding , thanks to mobile effect (635 to 1000 million) , smart phone adoption (300 million) , availability of high speed connectivity (Govt. push, JIO effect) , Technology adoption , digital penetration through government policies & corporate strategy of MNC’s ….commerce in all forms is firing in all directions( e commerce, social commerce included)
3. Founder Quality is up : Quality of Ideas , Purpose of entrepreneurship , Knowledge of funding options/sources , Clarity of aspirations, Confidence due to support from family, friends, alumni networks & society around….awareness has gone up
4. Capital Quality : Capital to startup’s in abundance -Angels, government grants, incubators, accelerators, venture capitalists, private equity…be it local/global, Equity/Debt/Grants, its funding galore
5. Availability of High quality Mentors, Advisors or service providers are adding on.
6. Availability of Role Models :
- 27 Unicorns (upto 2019)
- 50 + Soonicorns
7. Leadership from Government : 100’s of changes have been effected by Government of India around policy directions, setting up departments, channelizing of funding , setting up institutions of excellence , opening doors for global organisations to participate, recognition of startup innovations (Latest being inclusion of Startup India Tableau in Republic Day parade) etc.,
8. Young India on the rise : Avg age @ 29 years(New Gen-world’s youngest) of which 65% < 35 years age=875 million (>48 countries of Europe or >58 countries of African Continent or N&S America combined)
9. Global Maturity of startup ecosystem across US,Israel, Japan , China, Germany, Sweden, Finland, Singapore, Canada, Australia & 40 other countries leading to competitiveness flowing into India
10. UN’s focus on sustainable goals influences Themes & Impact around SDG & ESG
Above Influence & Impact can spiral into a Version 2.o for Startup’s
Startup’s Version 2.o (2020–2030) :
So, what will change in 2.0 ……few of my top pics include…
- Availability of latest in Technology: Indians as CEO’s of 25+ Best Co’s in US(Google/Microsoft/Citigroup/Softbank/Adobe/Netapp/Pepsico), knowledge of practices , India focus etc., is trickling down to India
- Network Effect in India : Connects , Capital , Corporate Business , exposure to valley & India as a base for Asian countries looking upto Valley..
- Startup action on ground: With 42000 registered startups ( +200,000 @ idea stages + 5000 schools grooming innovators) can lead to diverse , fast , high aspirations , funding as starting point , is likely to be competitive and complex for new entrants
What can help STARTUP ENTREPRENEURS in a “Winner takes it all market“
1. Identification of the space to be in (1/4 of startup’s success revolves)-Ideas & Innovation around India’s challenges & leap frogging solutions : agri-tech , education, healthcare, financial services, environment- clean tech /EV/up cycling/waste management, defense and space can rule the roost (Bangalore, Kerala, Delhi & Southern states have taken the lead) , Mobile Commerce , UN sustainable goals can gain traction
2. Managing of Self as an Entrepreneur (Long term mindset ,wholistic thinking, Grit , Determination , SPEED of decision making….)
3. Building Social Capital (around High quality people)
4. Collaborations & partnerships with stakeholders
5. Skills for Leading a Team & Organisation
6. Tech for Good : Optimum usage of Deep Tech as enablers , Platform as service, SAS solutions, Automation tools around Robots, drones, mobility solutions…
Come 2030 “Made in India” of 100+ UNICORNS & 1000+ INDICORNS (Rs.1000 crs) is a reality. What do you think ?
Love to hear your views, experiences , suggestions …..
Data source : personal experience around pitches, hackathons , graduation, jury awards, mentor, Accelerator, VC fund, Startup co-creation ,corporate, coach,train, teach ,volunteer…Data-venture intelligence/ Inc42.com /Startupindia.gov.inl letsventure/cbinsights/anglco/f6s/worldometers.info