India is recognized as a startup hub and such initiatives encourage innovation across sectors. January 16 is marked as National startup day with a motto to encourage the spirit of entrepreneurship and promote the achievements of Indian startups. It is also commemorated to provide a platform for start-up entrepreneurs to discuss innovation for India’s youth and their contribution to the economy. The motive behind encouraging the idea of entrepreneurship is to give a boost to schemes like Make-in-India. India has emerged as one of the largest hubs for young startups, given its massive youth population in the past few years and a vibrant consumption economy there is an opportunity to experiment and solve problems differently.
So, if thinking about starting your own business, remember that it’s not just about the destination, it’s about the journey. Embrace the adventure and enjoy the ride. The biggest adventure one can ever take is to realise the dream of creating jobs.
It is most important that Entrepreneurs and startup founders need stay true to their passion and not settle for anything less than their best work. Finding our true inner voice and pursuing it with love and dedication is the key to success and fulfillment.
Currently, startups are contributing about 3% to the overall GDP and that is likely to become 10% in the next decade this gives us even more confidence in working towards creating the proper infrastructure to fuel the growth of early-stage startups and those entrepreneurs building in Bharat. Tier 2,3 city-based startups contribute about 50% to the National data on startups, since the last three years we have been consistently seeing a spike in the proportion of startups applying to us for funding. In 2022, we had almost 30% of the startups came from towns beyond the metros.
National startup Day is a great testimony as well as inspiration for all the stakeholders of the Indian start-up ecosystem – Entrepreneurs, Startups, their employees, VCs, and angel investors. The current government has taken some quick and prudent steps to promote entrepreneurship and make start-ups the “backbone” of our economy.
New designs, innovations, and ideas are constantly emerging and the audience is more open than ever to embracing local, home-grown startups. Together, we are growing as a unit and propelling the future of entrepreneurship.”
The celebration of National Startup Day was the icing on the cake. This gave a boost to entrepreneurs, which accelerated the foundation of 69,000 start-ups last year. We, as a startup, have received tremendous support in terms of new scheme launches and smoother regulations for a stronger future.”
It is also marked to promote the importance of start-up initiatives and make them a part of the mainstream. Encouraging youth to take up entrepreneurship as a primary career option is also an agenda behind this initiative.
The declaration of 16 January as National Startup Day has been a truly inspiring initiative for the Indian start-up sector.
Dr.Kiran Kumari Patil, Director REVA NEST, REVA University, Bangalore
REVA NEST– TBI is established to nurture and handhold startups and support aspiring entrepreneurs. On the occasion of National startup day Students, Alumni and External startup Entrepreneurs participated with enthusiasm and shared their experiences as a startup. The startup is all about the learning curve mentioned by one of the CEO. India is set to play an important role in the global economy. And one of the pillars of this growth will be our homegrown startups and Universities are playing a vital role through Technology business incubators to enable and support the startup ecosystem.