Most exciting has been the profound change in cultural attitude towards entrepreneurship.
IN 2015, NASSCOM PUBLISHED a report that placed India as the third most vibrant technology startup ecosystem behind the US and the UK, and ahead of Israel and China. It identified 4,200 technology startups that employed 85,000 people.
This upsurge in entrepreneurship of opportunity, concentrated in the hotspots of Bangalore, Gurgaon and Powai, powered by technology and funded by a new availability of VC and angel capital, is only to be celebrated.
The issue for India is to spread this new entrepreneurial vibrancy geographically, socially and by sector. To make a real difference to growth, employment and opportunity, India needs entrepreneurs across the land tackling challenges in every sector. Infrastructure, manufacturing and biosciences need to become as replete in startups as e-commerce or data science.
The government, to its credit, has recognised the critical importance of entrepreneurship in economic development and job creation and has prioritised new business formation through the StartUp India and StandUp India programmes. The Prime Minister announced additional government funding of Rs 10,000 crore for early stage businesses.
This story is from the July 22, 2017 edition of Businessworld.
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This story is from the July 22, 2017 edition of Businessworld.
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