Paper Contents
Abstract
The study investigates the significant impact of startups on the Indian economy, particularly their role in job creation, innovation, and investment attraction. Historically, Indian companies were predominantly government-controlled, but globalization and the "Startup India" initiative, launched in 2015, have opened opportunities for new ventures. Startups often begin with limited business models and capital, relying on founder funding, yet they contribute more to job creation than large-scale businesses and meet societal needs.The study aims to analyse the benefits and challenges faced by startups and highlight successful examples in India. Benefits include flexibility, creativity, valuable networking, personal growth, and positive societal impact. However, startups also face high failure risks, compensation issues, market access difficulties, team composition challenges, limited resources, and stress.Specific challenges such as marketing information gaps, funding difficulties, hiring the right personnel, and management issues are explored. Successful startups like MakeMyTrip, Flipkart, Zomato, redBus, Housing.com, Ola Cabs, and Teach for India are examined to illustrate how they overcame these challenges.Overall, the study provides insights into the contributions and challenges of startups in India, offering valuable information for entrepreneurs, investors, and policymakers.
Copyright
Copyright © 2024 Shilpa . This is an open access article distributed under the Creative Commons Attribution License.
