Start-Ups - Ushering in Knowledge Economy

Abstract

The start-ups script the saga of success for a nation’s technological prowess and economic progress. They also offer intellectually stimulating challenges and a great sense of achievement to young entrepreneurs turning them ‘job creators’ from the ‘job seekers’. Many start-ups are premised on the disruptive technologies and business/service delivery models while providing novel solutions. Thus, start-ups with an immense potential for value addition have been aptly described as the harbingers of knowledge economy. With a bouquet of 21 unicorns and over 50,000 start-ups, India is currently ranked third in the global start-up ecosystem. The article gives a snapshot of India’s start-up scenario and performance of various stakeholders. It also discusses what ails the start-ups and the likely solutions thereof. The article attempts to chart out a concrete plan of actions and imperatives for the thriving Indian start-up ecosystem to perform, sustain and prosper.