Factors Responsible for the Success of Indian Startups: An Empirical Study

Abstract

Recent years have seen a considerable increase in startups in India, which has been linked to a number of factors. The country's increasing population of young, tech-savvy people who are eager to innovate and found new firms is one of the most significant causes. A supportive atmosphere for entrepreneurs has also been greatly aided by the government's support of startups through programs like Startup India and Make in India. The growth of digital technology and the expansion of internet access, which has made it possible for startups to reach a larger audience and grow the businesses more quickly, are two more important factors. Additionally, the emergence of venture capitalists and angel investors in the Indian startup ecosystem has given early-stage businesses access to the necessary funding and mentoring. The enormous and diverse consumer base of India, which offers a ready market for innovative goods and services, can also be credited with the success of Indian entrepreneurs. Entrepreneurs may now share information, resources, and ideas because of startup collaboration and networking, which is fostered by gatherings like startup conferences and incubators. Despite the obstacles that Indian startups must overcome, such as bureaucratic red tape and a lack of infrastructure in some areas, the ecosystem's success so far offers a positive outlook for the future of entrepreneurship in the nation.