The entrepreneurship wave is picking up momentum. Let us see what kind of trends are emerging in India:
Focus on technology-enabled businesses: About 70-80 per cent of students I meet wish to start a tech business — website, mobile app or software development. The reasons include the ease in starting it, low capital requirements (compared to manufacturing) and knowledge and experience of this sector. This trend is going to have a large scale impact on Indian economy and gives way to opportunities as well as challenges.
Increase in events: Many formal and informal forums connecting entrepreneurs started last year. The interactions among entrepreneurs and investors are no longer an exclusive or once in a while happening, and there is increased involvement of various stakeholders in these events.
Rise of angel investments and venture capital: Five years ago, there were two groups of angel investors, each having 25-50 members. Today there are 10+ groups, with over 100 members as angel investors in each. Numerous venture capital investors are looking at early stage entrepreneurs as a viable investment choice.
Incubators growth: If you have an idea but no office and infrastructure, there are various incubators — either supported by the government or private. Many colleges have also announced plans to set up incubators, which is a differentiator for them to attract more students and also industry placements.
Business plan events: Good colleges with a progressive management and enthusiastic students nowadays organise annual business plan events — where they encourage students and professionals to present their business plans. IITs have two business plan competitions annually and encourage social ventures along with ones for-profit. By organising business plan events, the host college gets recognition and students get experience in marketing, event management, managing logistics and learn relevant life skills.
Professional training and mentoring, international tie-ups and study tours can further support and boost the entrepreneurial eco-system in India and make it the ‘Start-up Nation’.
Article Originally published in : http://expressbuzz.com/education/entrepreneurship-trends/339381.html