New Age Start-ups – Advantage India!
6. Indian entrepreneurs are used to a crowded world where one has to compete for everything.
Startups have to compete hard to get a part of the pie. Indian entrepreneurs are used to fierce competition from childhood days. Its not easy getting into a good primary school in India. Parents have to prepare their children for months for the test/interview conducted by recognized primary schools. This is the first taste of competition for the child which continues to develop through high-school , college and finally in the job-market and beyond. Its very difficult for startups to get funded. Recent business plan competition by The Economic Times had sixteen thousand participants out of which only a handful got funded. The economy of shortages has forced Indians to find innovative and efficient ways of using scarce resources. Fierce competition will eliminate those who don’t.