With respect to the recent findings, the world has got to know the positions of the top world economies with respect to growth of startups. Specifically related to India, the startups business has been found to increase at a greater speed and is offering tough competitions to the higher end startup ecosystem. Still, the business experts believe Indian startups to make more use of available institutional support. Even though the online business news and updates in India confirms the rate of growth of startups in comparison to US and UK, there is still a big question mark of whether India will be able to produce global startups. The actual reason lies in the lack of growth oriented startup ecosystem in India. The governments of centre and state should work more upon reframing startup policies, offer subsidies to the startups, incubation spaces and much else. Lack of such a nurturing ecosystem has driven the entrepreneurs in India to take initiatives on their own. Since there is a significant need of support from the world around for startup growth as well, no global startup from India can be easily found or reached to.
At the Core of Global Startups
When the global market is to be served with the offerings of a startup company, the associated business model is expected to generate revenues from multiple countries across the world. Starting from an initial reach from one country, such business models are highly scalable and can be made to grow more rapidly. At the core of such global startups lies the significance of value to be served to the targeted audience across the world. This is what connects people from around the world to the innovative business idea of the startup. Global startups like Facebook or Google have grown to be global in their status because they have actually served a global need that is, of connecting to the world instantly and of knowing about the world respectively. It is their unique value proposition that is offered to diverse international audience. Right from the very start, global startups steps up the ladder of success from nothing at all to something well loved by all. But the online business news and updates in India covers this aspect little differently.
Indian Startups Targeting Local Business Opportunities
Becoming a leading global startup also has something to do with the basic objective of the business owner. When a business entity which is not known to anyone as it does not exist comes into existence, it opens up global opportunities. In Indian startups scenario, business owners targets opportunities within India at large, thus losing approach for scalability. Even earning millions from the Indian market will keep the status of a startup company as non-global. It becomes global when it seeks expansion possibilities to serve global markets and earn even more. Companies that have become successful to serve international markets are those which have utilized the startup ecosystem better than their rivals as per online business news and updates in India.
For Indian startups, there are many more lessons to be learnt to serve global markets.