STARTUP CULTURE IN INDIA.

Startup is any new venture that sets out to create a sustainable business model (apart from meeting customer needs).I see that most of the answers here linking increasing Internet penetration with more opportunities.Unfortunately not everything is clearcut.Less than 30 million of India’s 1300 million population is in the middle class category (criteria for middle-class: income Rs.40,000).

Hence,increase in India’s growth at the rate of 7 percent does not mean that the growth is evenly distributed and that more consumers are automatically created.A startup’s success is limited to its target audience and reach of supply chain network.

The Indian entrepreneurial spirit has risen remarkably as India stands third amongst the fastest growing startup countries worldwide – just after the US and the UK. Digitization is playing a vital role in this scenario and has provided ample opportunities to develop Indian online market. The opportunity today is not only for India but also for ‘Bharat’. In fact semi-urban and rural areas are on their way to get more focus than selected few metro cities.

According to Forbes,
India is quickly becoming a leading global startup hub. Rising numbers of entrepreneurs, incubators, international and local VCs, and multinational corporations are turbocharging the development of a burgeoning tech scene. In fact, the number of startups in India is expected to nearly quadruple from 3,100 in 2014 to over 11,500 by 2020.

The Indian startup culture is here to stay as more and more people leverage the power of the Internet and create new businesses but how many startups are actually going be “stay-ups” cannot be predicted.

Two latest startups success stories-

1) 9Stacks
Founders: Sudhir Kamath, Pratik Kumar, Abhinav Nigam and Rishab Mathur.
Investors: Swati Gupta, Kartik Sheth, Purnima Khandelwal and Maheshwar Peri

Bringing alive the classic poker on-screen, 9Stacks is a unique concept binding all the Poker lovers together under one roof to start the game with 9 stacks of poker chips!
Virtual skill-based gaming startup 9stacks on Tuesday announced the close of more than Rs 10 crore in angel funding (Pre-Series A), to be used to scale tech, product and design team, ramp up online poker customer base in India, and evaluate new geographies and other real money skill-based gaming categories.
9stacks currently offers online real-money poker to customers in 24 Indian states, who can access its modern and secure poker platform on 9stacks, and on iOS, Android, MacOS and Windows native apps.
9stacks will utilise the funding to accelerate its product and technology development as well as scale to other geographies and other categories within the real money online gaming space.

2) 3) AEON Learning
Founders: Karthik KS and Vikalp Jain
Investors: Kris Gopalakrishnan and Atul Nishar

Future Educators like AEON Learning are blessing for working professionals. With the help of technology, they provide degrees in various management courses from prestigious universities. Giving e-learning a new look!

AEON Learning, a Bengaluru-based edtech startup has raised $3.2 million in Series-B funding from MEMG Family Office LLP, a fund set up by Ranjan Pai, chairman of the Manipal Education and Medical Group.

It plans to use the latest investments towards growing business from its university partnerships, and skill programmes. The startup expects to reach a student base of over 100,000 in the next five years and is currently operating in India and the US.

AEON Learning offers its platforms, Avagmah and Acadgild, that has continuing higher education offered by its academic partners and technology skills courses to working professionals, helping them upgrade their skills and capabilities to remain relevant in today’s fast-evolving employment scenario.

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