In the last decades there has been a considerable increase in the number of technology based startups. Some 800+ startups are coming up every year, going by this trend by 2020 more than 11,500 start-ups are expected to get established in India, generating opportunities for over 2.5 lakhs people.
The reasons for startups as drivers of growth are as follows:
- The domestic sector is in a state of dynamicity and hence opportunities exist in domestic market. Lot of demand to be unleashed in Tier-II and Tier-III cities.
- The disposable income for the middle income group is on rise.
- In the last decades the rate of penetration of has increased, Both tele density and internet penetration have created a strong platforms for startups.
- Now investors are also looking at startups for investment purposes. Startups have become the channel of giving high return on investment. Multitudes of funding have made possible for the startups to grow by leaps and bounds.
- focus on creating an innovative envt. By unleashing schemes like Start up India, Stand up India. Atal innovation mission was set up under NITI aayog.
- By 2020, it can generate employment opportunities for over 2.5 lakh people. Women empowerment enrouting women entrepreneurship. Reaping of demographic dividends. Self employment.
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