Byju, a self-taught tutor and the founder of Byju’s Learning App is a stellar example of how a strong vision can revolutionise the way children think and learn. Byju, who grew up in a village in Kerala, is an engineer by profession. However, having grown up in a family of teachers (his parents taught Physics and Mathematics at village-school), he had a natural inclination towards teaching. During his work breaks, he began helping his friends to prepare for management entrance exams. Just for the experience, he himself attempted CAT and secured 100 percentile. This boosted his credibility and confidence of people around him and gradually more and more aspirants started taking his sessions. What began as an informal stint with merely 35 students soon turned into huge sessions in sports stadiums attracting thousands of students. The jam-packed sessions were a validation of Byju’s teaching method which he decided to pursue full-time.
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Job Creation: Startups Starting Up!
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Importance Of Technology For SMEs
We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
Importance Of Digital Economy
Economic activities that result from billions of interactions between individuals, businesses, data, devices, and processes constitute a digital economy and India is well on its path to becoming a digitally advanced economy. Driven by cheap data cost, faster connectivity, and affordable smartphones, India had over 1,160 million internet subscribers in February 2020, as per the Telecom Regulatory authority of India (TRAI), second only to China.
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Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
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The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
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Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.
