Untainted by any hurdles that come their way, a new breed of entrepreneurs has unleashed the wave of startup activity in India. The number of startups in India currently stands at 8000+, as compared to a mere 3500 in the year 2012. With investors promptly funding such enterprises, young entrepreneurs today are coming up with noteworthy ideas and are scoring success therein.
The example of Bhavish Aggarwal, CEO and founder of OLA Cabs, stands significant in this context. The 27 year old, faced innumerable odds stacked against him when he looked for funding for his online cab aggregator, Ola Cabs. But, no hindrances were big enough to dwindle his perseverance of establishing Ola Cabs as one of the most significant cab-services in India. Ola’s cab network has increased over 10 times since 2013- towering over Uber in India- and its valuation has surged nearly 50 times to about $3.5 billion.
The fearless and innovative business ideas of young entrepreneurs find easy funding, for their ideas are far-reaching and extremely innovative. Most the entrepreneurs venture into business right after completing their education. Such is the trend among the young race of entrepreneurs, who are in a big hurry to establish their start up right after college, or even before that. The ex-CEO of Housing.com, Rahul Yadav, who is just 26 years old, the founder of Tiny Owl Harshvardhan Mandad who is just 25 years old and the 21 year old founder of OYO Rooms Ritesh Agarwal; are the names behind some of the most successful startups operating in India.
The honorable Prime Minister of India, Mr.Narendra Modi, also encourages the startups by young entrepreneurs, through the campaign Start Up India: Stand Up India. The initiative aims to encourage startups by providing numerous incentives to them. Thus, unlike a decade earlier, presently trading the safety of a high-paying job for the chance of launching a business right out of campus is no longer a life-deciding debate, for the ones aiming to build an enterprise of their own. The wide scale success of startups in India has given birth to a new breed of young entrepreneurs, who are younger, innovative and ambitious and unafraid to chase the big market and emerge as a successful businessman.
(iFEEL is one of the leading management institute, providing 2-years AICTE approved PGDM to students. The institute focuses on developing the inherent entrepreneurial and leadership skills of the students. Please send us your valuable feedback, comments and suggestions at firstname.lastname@example.org. We welcome reactions to stories, comments on issues that interest you, feedback & comments from your side to make it more purposeful and resourceful.)