Cribbing over improper startup ecosystem and magnifying pitfalls will only dampen the spirits of the ecosystem further. Do remember that Silicon Valley was not built in a day and it took time to reach the present day status.
India was an agrarian economy and with industrial revolution, we started looking towards employment for a secured life. Initially entrepreneurship was a taboo in our closed society.
Things have now changed for good and slowly the ecosystem is taking shape. Even the policy makers are considering various options to encourage entrepreneurship with innovate ideas.
Living the startup cycle is essentially a strenuous yet fruitful exercise. All the stakeholders of the ecosystem must work towards easing the situation.
The basic partners of the ecology are entrepreneurs, mentors, investors, incubators, event organizers, service providers and the government. They must work in unison to achieve optimal success in their respective and collective domains.
An entrepreneur must necessarily identify the innovations that are user needed after conducting necessary market study. The team that joins must be able to take up 360 degrees if needed and focus on their results instead of being intimidated by day-to-day happenings.
Next are the mentors who play a key role in briefing the realms of ground reality to the startup teams. A domain expert for better results must nurture every entrepreneur. Mentors must think of more service than revenue, as the success of the enterprise will automatically open the revenue flow. thye must be motivational and assist the startup in touble shooting.
Investors are other most important facilitators for the ecology to flourish. Their strategy must be to extend support in the right spirits for the growth of the enterprise. Most liaison agents of these investors must work with caution and aim for long-term gains instead of short term dividends.
There must be incubators and accelerators for the sector to flourish with private participation from domain experts. This is the need of the hour. They must organize events and workshops in prime sectors for the system to thrive. Service providers also must act in harmony in designing customized processes to foster growth in the area.
Last and the most important are the government policies that must be startup friendly. They must nurture the enterprising youth with the help of universities to promote the spirit of entrepreneurship.
WAY2WORLD assures that if all the stakeholders act accordingly for attaining a overall development in the system then the results are phenomenal. With inputs from internet – Rajkishan