Adv Anouska Mishra, LLM, National University of Studies and Research in Law
Adv Abhishek Kumar, LLB, KIIT University
ABSTRACT
Through this initiative, the government plans to empower startups to drive entrepreneurship, economic growth and employment across India. India's startup ecosystem has become the talk of the world. The business world has seen an explosion of game-changing startups in recent years as hundreds of young innovators choose to embark on the path of entrepreneurship rather than multinational corporations and state-owned companies, creating a wide range of real problems. This article discusses some of the issues and challenges faced by Indian startups and the opportunities the country can offer in the current ecosystem.
Keywords: Initiative, Economic growth, Entrepreneurship, Ecosystem, Opportunities
Introduction
India is a developing country Due to the rapid population growth; there are not enough job opportunities. In order to create jobs for the majority of the population, India has taken the wise step of promoting entrepreneurship in the country by providing an excellent platform for those with innovative ideas for new ventures. Indian Prime Minister Shri Narendra Modi launched the Entrepreneurship Program on August 15, 2015 to raise awareness about startups.The objective of this study is to gain a comprehensive understanding of the growth factors and challenges faced by start-ups in India. The study also describes where and the different types of support available, and how the entrepreneurial ecosystem has changed over time. The research primarily focuses on technology focused start-ups, but nontechnical, social and micro entrepreneurs also presented original concepts and solutions. To shed light on these questions, a qualitative study was conducted. Semistructured interviews were conducted with experts from the Indian start up community, including start up founders, investors.
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