Startups in India - Challenges, Opportunities, Problems and Action Plans

Abstract

India is a country in South Asia. It is the seventh-largest country by areaand the second-most populous country with over /.2 billion people. Large populationimplies a large potential market in India; however, it also leads to heavy employmentpressure in Indian society. In recent years self-employment consciousness amongcollege students is increasing and the students are less likely to rely on parentsor schools or wait for opportunities. Instead, they tend to take initiative to lookfor new chances for themselves. This research aims to investigate the challengesof financing startups in India. This paper is intent to explore the main difficultiesfaced by startups in India. It is extremely important to find out and resolve thefactors that are preventing growth and sustainability of startups in the country.The article presents details of startup action plan released by the Departmentof Industrial Policy and Promotion (DJPP) of Union Ministry of Commerce andIndustry in January 2016. The programme is applicable for innovative enterprisesin all sectors where innovatiness is identified and certified by a Government Agency,such as technology business incubator.