Indian Startups With Global Footprints
Indian Startups With Global Footprints
The main purpose of this research is to explore how Indian startup has matured and
how local and global connectivity is critical to the startups success. It is said that for
good ideas and true innovation, one needs to have human interaction, thought
exchanges and debate. That is precisely what startup India has got to offer. Startup
India is an initiative announced and launched by hon’ble Prime Minister in 2016 with an
aim to promote entrepreneurship, generation of employment & wealth creation. The
motto of this scheme to recognize the real change makers, who dared to step out of
their comfort zones and bringing a positive change towards betterment of mankind. So
past few year seen the emergence of series of new competitive Indian startups. Big
business startups like OYO, Ola, Pay tm have gained much popularity. Only one place
where Indian startups lag is comes to offering novel technological solution .Major Indian
family led business such as TATA Cos, Mahindra and Mahindra, Reliance & Aditya Birla
group have already left their footprints on consumer mark. Be it commerce, tourism, or
IT- based business solution, these new age startups are not only building capital but are
also changing the way business are conducted in India.
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I . INTRODUCTION
With India gearing up to become a $5 trillion economy by 2025, Indian startups are
placed perfectly to maximize this tremendous opportunity to form their mark and
become global behemoths. The positive expansion of Indian startups like OYO, Zomato,
Ola, Zoho, Freshdesk, et al gives an enormous boost of confidence to budding
entrepreneurs on making the bold move of going global. These startups offer their
services to global companies and organizations across the world who in turn is
embracing the technology and solutions offered. With this year’s conference theme
topic, “Indian startups: Global Footprint”, we aim to explore how the Indian Ecosystem
has matured and built synergies. The ecosystem and the connectivity- both local and
global are critical to the startup's success. The main purpose of this study is to create
awareness through plugging in global relationships so that entrepreneurs and
stakeholders understand the opportunities waiting to be harnessed enabling founders
world over to be exposed to the latest and the best in the world.
However, 2015 has clothed to be a year offering a touch of a reality check to at least
one and everyone and redefined the dynamics to an excellent extent. The year also set
the tone for the subsequent stage within the evolution of the startup ecosystem. The
maturity in deciding what ought to ideally are available at this stage would be a step
within the right direction taking the startup space in India towards greater heights, as it
deserves. To create awareness and building an entrepreneurial environment, tons of
emphasis should now tend to make infrastructure for mentoring startups. Various
stakeholders like the govt, corporate, educational institutions et al. are and will join
hands to create a far better ecosystem for children
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NEED OF THE STUDY
The main idea behind starting a startup business is to be own ‘s boss and lead a
independent life by being a job creators and not job seekers. Large population with
largest middle class group , young minds with technology knowledge, high internet and
mobile penetrations are some of the drivers that create opportunities for youth to go for
startup. In current scenario, tourism & hospitality industry accounts for maximum
participation. As one can see people from non-hospitality background entering into
market with such a unique and innovative ideas and creating revolutionary change.
Now it is necessary and our country’s economy calls for such change. Therefore this
study will be beneficial for those who want to create a change by be one’s own boss
and thinking of going global. This study will create awareness among all future
entrepreneurs as well as present entrepreneurs and stakeholders and make them
understand the opportunities waiting for them if they think of going globally.
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At the international level, the G20 Young Entrepreneurs Alliance (YEA)16 has been arguing that
if young entrepreneurs are allowed easier access to international markets, they will create
significantly more jobs. Therefore, they mooted the thought of the Entrepreneur Visa Program
and recommended the implementation of an up to 2-year visa during which young
entrepreneurs and/or their key managers and their families can conduct their business in
foreign countries. They also acknowledged that the method of getting such a visa should be as
simple as a Working Holiday Visa. To avoid abuses of such visas, the G20 YEA also suggested
that some criteria might be put in situ to pick the relevant candidates.
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Various social media marketing has been done and platforms like tweeter are being
used for new announcements any to be made. Startup India yatra conducted in 220
districts across 23 states impacting 78,346 entrepreneurs.4 –week course for startups
and aspiring entrepreneur According to recent NASSCOM report new India’s startup
ecosystem is growing rapidly of 12-15%. As per the report, 1300+ startups have been
added till now. This is a great sign to move forward with an idea of entering into
entrepreneurship.
2.2 India vis-à-vis Select Countries in Different Indicators
In a globalized world, startups tend to invest in countries with good a startup ecosystem,
which includes the ability to secure innovation, incubators and accelerators, access to
funds, access to the market, ICT readiness, infrastructure, institutions, etc. This section
looks at India's position vis-a-vis select developed and developing countries in various
indicators for innovation, ICT and entrepreneurship. While foreign startups will check out
these indicators alongside the benefits (for example, an outsized market) that India
offers, Indian startups may
2.2.1 The Ease of Doing Business Index
The World Bank's ‘Ease of Doing Business’ index measures 190 economies on how
easy it is to conduct business.28 In 2017, New Zealand, Singapore, and Denmark were
ranked 1st, 2nd, and 3rd respectively, while China was ranked 5th and the US was
ranked 6th. While India’s rank in the index improved from 130 in 2016 to 100 in 2017, it
fell in sub-indicators such as ‘Starting a Business’ (from 155 in 2016 to 156 in 2017),
‘Registering Property’ (from 138 in 2016 to 154 in 2017) and ‘Getting Electricity’ (from
26 in 2016 to 29 in 2017),29 indicating that businesses (including foreign firms) may
face issues at the inception stage. However, it is important to note that, in 2017, India
was ranked 4th in the ‘Protecting Minority Investors’ sub-indicator.
2.2.2 The Global Innovation Index
The WIPO’s Global Innovation Index (GII) for 2017 compared innovation performance of
127 countries and economies around the world with its sub-indicators broadly exploring
their participation in various aspects of innovation, including political environment,
education, infrastructure, and business sophistication. India’s overall ranking improved
from 66 in 2013 to 60 in 2017 (see Table 2), but it was still lower than countries such as
Israel (ranked 17), China (ranked 22) and Chile (ranked 46). However, Figure 1 shows
that India has ranked better than Chile in ‘Knowledge and Technology Outputs’, and
‘Market Sophistication’ sub-indicators.
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Source: https://www.globalinnovationindex.org/analysis-indicator
Source: https://www.globalinnovationindex.org/analysis-indicator
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Table: 2 India comparisons with other countries
There are three steps within the startup lifecycle out of which the first phase is pre-startup
introduce which discovery and validation are two important steps then startup introduce which
efficiency and scale are two steps then third steps is Growth during which maintenance and
sale or renewal be the important step for the event of life-cycle of a startup
Pre- Growth
Startup
startup Maintenan
- Efficiency ce
- Discovery
- Scale -Sale
- Validation
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Start-ups Ecosystem:
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2.3 SELECTION OF INDIAN STARTUPS THAT WENT GLOBAL
In this section, some successful stories of entrepreneurs from various sub- sectors of
tourism and hospitality industry has been listed and narrated which will inspire all those
who aspire to be future entrepreneur and will motivate the entrepreneurs as well as
stakeholders and make them understand the opportunities waiting for them .It has been
assumed that having thrived at home for nearly a decade, India’s startup scene went
global in 2018.
Source: https://qz.com/india/1490980/ola-oyo-byjus-swiggy-made-2018-indian-
startups-global-year/
3. RESEARCH METHODOLOGY
The study adopted here is exploratory and qualitative design in analyzing the
opportunities and challenges faced by Indian startups in tourism & hospitality
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industry. The primary data has been collected by online questionnaire and
analyzing of case studies. Secondary data has been collected through
journals, magazines, books as well as internet.
Questionnaires were circulated through mail, where the summary of survey is analyzed below:
Demographic factors
i) Gender Ratio
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ii) Age Ratio
INFERENCES: As per figure, it can be seen maximum respondents are youth and
below 25 or 25-35 years of age.
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3. Have you ever thought of starting your own business?
qefufhehekv
4. What industry would you like to cater in order to start your own business?
INFERENCE: As per figure, 52% selected tourism & hospitality and 32% chose E-
Commerce, 10% selected software business as their industry, while education,
jewellery business, are other choices
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5. According to you, which of the following drivers are responsible for
influencing entrepreneurship ?
INFERENCES: From the above pie chart 52% respondents are agree Indian
startups able to flourish global market, similarly 36% respondents are strongly
agreeing for the same
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7. What would be the reason for any business to expand?
INFERENCES: The Chart shows that 46% respondents selected that business expand
to find new market, 24% respondents selected for both to ensure business efficiency
and to maximize competitive risk ,while 6 % respondents selected to achieve
diseconomies of scale
CONCLUSIONS:
The current scenario of tourism & hospitality industry is on expansion mode. Vast changes from
introduction of Artificial intelligence to digitization, everything has been welcomed. In order to
be advanced, one has to come up with something unique idea or thought to enter
entrepreneurship world. In this study we have been talked about life cycle of startup that means
from where idea generates till it expands on the grounds of global market. A lot of great
entrepreneurs ‘s success stories has been referred to understand their journey of expansion to
international boundaries. Especially, in this industry one needs to have a preservance to remain
in the business. By going through the previous startup case studies, one might get an inspiration
as well as motivation to work harder without fail. All those success stories are meant to inspire
future entrepreneurs as well also to give them a fair idea of expected opportunities and
challenges in the path of becoming an entrepreneur. Irrespective of the factors such as gender,
money, social class etc, not taking into an account one should not stop dreaming. This should be
an ultimate purpose. Let’s not forget that government has also done so much in its part. From an
inception of “Startup India” Initiative, a lot much has changed. The goal of making India a
place of job creators and not seekers will only be possible with the support of government.
Technical/ financial assistance from govt. and non-govt. agencies, support of partners, learning
and development programme from NSIC, MSMEs etc will definitely boost the morale of an
entrepreneur. If we compare this to last few decades, not much knowledge , or will could have
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been seen among the youths of that time as one can notice in today’s era. This is all because of
the environment we live in. Therefore, this study concluded that challenges and risk should not
deter the ambition of an individual rather he/she should fight against all odds, and always look
for an opportunity. Anybody can do business with little business mind but very few dare to
risk by choosing to be an entrepreneur and brings revolutionary change in the society.
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