By : Ayushi Jain
STARTUPS: The beginning
Startups are basically projects or ideas that are converted into a business model by an entrepreneur. Startups focuses on the products that an owner feels is in demand. Mostly startups do not have adequate funds and are mostly funded by friends, family etc. We can say that startups do not have a fully developed business model, it is more often an idea…
In recent years, in India, startup has become a trend and is highly supported by the government. There are various schemes initiated by the government for entrepreneur and startups like:
- Mukhyamantri yuva nestham: this is an initiative of Andhra Pradesh government for the employment of youth in which it provides monthly allowance to unemployed youth so that talented students can develop their skills.
- ASPIRE: this scheme benefits the rural entrepreneur which aims to increase employment and innovation in agro-based sector.
- Startup India: this scheme provides tax relaxation, tax benefits, and helps in funding as well. Sectors that are involved in technology and innovation are mostly benefitted.
- Atal Innovation Mission: the budget for this scheme was nearly INR 150 crore in 2015 and it aimed at creating promotional platform for research and innovation by gathering academicians.
For any startup initial period is really important. There are a lot of startup that fail within few months or years. For long run an entrepreneur must have a proper plan which must include all the aspects and all the pros and cons . Any startup depends upon these basic factors which includes location ,funding, legal structure, super sharp social skills, ability to adapt to changes, self-discipline. For a successful startup it is very important to note that if the customers are satisfied with your product and service, as with unsatisfied customers your business can never flourish and this would lead to failure.
There are various startups in India that showcased all the skills required to consider them successful startups like wow!Momo, Ola cabs , AddressHealth, Paytm, FreshhToHome etc. ETI labs Pvt. Ltd. is also a startup which provides services to industries as well as students. Basically it provides products like ESD(8021)board, IOT boards etc. to the companies or industries for enhancing their functionality. Also they conduct various sessions and workshops on embedded systems , IOT etc. for the students.