THE RISING WORLD OF YOUNG ENTREPRENEURS

It is not a lesser known fact that the life of an average Indian revolves around schooling, graduation, post graduation in certain cases and finally search of government jobs. Government jobs because of their edge over private jobs in providing facilities which are considered to be ideal – a 9am to 5pm job, job security, and retirement pension etc.
This has been a general trend till now because people in India are afraid and in fact ashamed of doing a startup because “What if it fails? Or “What will people think?” is their mentality.

In India, when a young entrepreneur comes up with an idea of a startup, the first question he is asked is – “Why?” “Why a startup?” In contrast to America’s Silicon Valley where they are asked about the “What is the idea behind the startup?” Moreover the fact that a startup has failed thrice and has come up the fourth time is extremely instrumental in providing it funding.

In Kunal Shah’s words, the CEO of freecharge – “maturity is a journey of a hundred slaps, it is ones choice to either have it at an early stage or a little later.” And “the probability of success is dramatically higher after a hundred slaps.”
But, why do Indians have such an orthodox approach towards a startup? Are Indians afraid of taking risks? No! of course not. In the world’s second most populous country comprising largest proportion of youngsters among all age groups, who are the most energized component, persistent and perseverant in their approach, cannot be apprehensive of failure. It is just that not many are enlightened by the idea of entrepreneurship and not many Indians work without being provided by an incentive to work.

So, taking into account the Indian mindset of requirement of an incentive to work upon something, PM Modi recently came up with the idea of “Startup India, Standup India” to promote entrepreneurship. But why such a sudden inclination towards entrepreneurship?

Unlike the first world countries, emerging countries like India require a veritable entrepreneurial revolution to lead a path of growth. The need in these economies to sustain growth through sustainable access to resources, knowledge and markets put a premium in entrepreneurship. Encouragement in entrepreneurship not only leads to creation of jobs but also encourages innovation and young entrepreneurs. It will create more and more jobs with more and more income and hence more and more disposable income.

With such continuously changing scenario and inclination towards establishment of startups, and the youngsters brimming with ideas, the world is steadily reaching a stage when all successful entrepreneurs would conclude their autobiography with pride by saying “out of every five successful people four of them in this competitive world are ‘entrepreneurs’, and hence we have brought about a revolution in this revolutionary world”.

By Mahima, Writer – DU Times