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Thursday, October 16, 2014

Trends in Entrepreneurship

Trends in Entrepreneurship 1

Since starting Nurture Talent Academy 2 years back, I have been totally immersed in the entrepreneurial eco-system –involving startups, students, government, incubators, investors, and media. The entrepreneurship wave is picking up momentum. Let us see what kind of trends are emerging in entrepreneurship in India

1. Focus on technology enabled businesses

Out of 100 students I meet , almost 70-80% wish to start a technology business – whether it is a website, mobile app or software development. T he reasons may include ease of starting this kind of business, low capital requirements (compared to manufacturing), knowledge and experience of this sector etc. This trend is going to have a large scale impact on Indian economy and gives way to opportunities as well as challenges.

2. Increase in events

There are many formal and informal forums connecting entrepreneurs that have started in last year that were there earlier. More and more events are happening with increasing frequency.

The interactions among entrepreneurs and investors are no longer an of various stakeholders in these events. Many online events’ have also started via various internet webinars and mobile conferences!

3. Rise of angel investments and venture capital

10 years ago, there were 2 investors groups of angel investors each having 25-50 members –today there

Are 10+ groups each having over 100 members as angel investors. Numerous venture capital investors have also started operations in India, and started looking at early stage entrepreneurs as a viable investment choice. There is need for more awareness about these funding sources for businesses.

4. Incubators growth

If you have an idea but no office and infrastructure. There are various incubators that have started –either supported by government or even private incubators. With increased focus on certain sectors and specialization, they are sure to do well in the future and have more and more companies benefit. Many colleges have also announced plans to set up incubators , which is a differentiator for them to attract more students and also more industry placements .

5. Business Plan events

Every college of good reputation , progressive management and enthusiastic students nowadays organizes an annual business plan event –where they encourage students and professionals to participate with their business plans. IITS even have more than 2 business plan competition and encourage social ventures along with the for –profit ventures. By organizing business plan events , the host college gets good recognition in the industry as well as their students get a first-hand experience of things like marketing, event management, managing logistics etc. Taking part in business plan competitions also helps students to get acquainted with relevant life skills.

Apart from these trends, there are more areas that need a greater participation – like more professional training and mentoring companies, international tie-ups and study tours, which can further support and boost the entrepreneurial eco-system in India and make it the ‘Startup Nation’.

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Thanx for your valuable openion.