GCCStartup.News Exclusive: VIEW POINT INDIAN STARTUP SCENE

Devesh Chawla is the Founder and CEO of Chatur Ideas

INDIA

Startups have taken a high road recently and there’s no questioning that. India is today the third largest startup ecosystem in the world, behind the United States of America and Israel. In recent years, the Indian startup ecosystem has really taken off, impelled by factors such as massive funding, consolidation activities, evolving technology and escalating market. The entrepreneurs are involved in bringing about an environment that proves constructive in creating revolutionary startups.

A lot of startups in India have entered the industry either conceiving an entirely new market or through gaps in existing markets or product lines. 2016 proved to be a dampener for the Indian start-up ecosystem in hyper-local, food tech, and software and investment domains. The Indian Startup Ecosystem was largely affected in a positive way due to schemes like Startup and Standup India, emergence of new investors including various FDI reforms. Demonetization and the rise of protectionism cannot be disregarded.

India’s Prime Minister’s slogan “Startup India, Standup India” became a rallying point for a lot of initiatives. The line of startups initially started with software services startups serving Indian software needs, and later expanding to exporting software services. Startups are provided with preeminent facilities as it will not only create employment, increase the country’s GDP but also take it one step closer to being an economically developed nation. Start-ups in 2017 might be more optimistic than 2016. 

The profile of entrepreneurs in India doesn’t give too much surprise, with 32 years old as an average age, only 6% women founders. Interestingly enough though, the biggest chunk of startupers in the country have a background in MNCs and Indian tech companies Only 13% of startup founders have no experience in the field before launching their venture.
At Chatur Ideas, we believe every entrepreneur must have 3 significant qualities inculcated in themselves- Focus, Perseverance and Discipline. And if we glance at some of the famous people in history, we’ll come to know that these qualities have proved beneficial for every entrepreneur. Quoting Walt Disney, “All our dreams can come true, if we have the courage to pursue them.”

A lot of times entrepreneurs lose discipline after they acquire a round of funding. It is necessary that they always go up the ladder in regards to execution, resources and thus give their 100%. The Indian ecosystem, like several other startup ecosystems around the world, is undergoing a correction after a flood of venture capital in 2014 and 2015. However, the steady rise of early stage funding reinforces investor belief in the long-term potential of the ecosystem.

Startups are shutting down owing to increase in burning cash, losing focus and spending money on unnecessary marketing. They feel its more of a fad rather than a necessity to solve a real life problem. As an investor, I feel startups should focus more on solving the real life problems that their startup is addressing rather than wasting time on unnecessary parameters. I invest into execution by the entrepreneur and not only on idea which is something startups don’t understand. They feel that just bringing an idea to the table without having a proper plan to execute will still get them funding but unfortunately thats not the case!! Winning is about getting on the floor and executing!!!

I feel we are heading towards an interesting era for the entire ecosystem with interesting startups coming up and ecosystem partners supporting the same.

(The opinions expressed in this article are the author’s own and do not reflect the view of the GCCStartup.News or TMA Worldwide)

About the Author:
Devesh Chawla is the Founder and CEO of Chatur Ideas. Chatur Ideas is a startup enabling platform with over 550 startups and 1500 investors where startups can get funding, mentoring and 360 degree execution support. After acquiring Nurture Talent Academy (India’s first Institute for Entrepreneurs present across 125+ cities and trained more than 34,000 entrepreneurs), Chatur Ideas is training young entrepreneurs across Institutes and providing them access to its vast ecosystem so as to enrich the entrepreneurship culture right from foundation level. His company, Chatur Ideas has been awarded in March 2017 with the ‘Industry Excellence Award for being the leading Startup Enabler Platform’ at the International BRICS Conclave for Startups and MSMEs by the Honourable Minister of Youth Affairs and Sports, India – Vijay Goel

Devesh runs entrepreneurship programs across colleges and startups along with Ajeet Khurana, Ex CEO of IIT Incubation centre SINE. Devesh is a mentor and investor himself and has worked with hundreds of startups including Catapooolt, Strike, Orbit Marketplace, Maax Market, Market Pulse, Hubilo, Intuit Things, Cloudrino and many more. He is also the Co-founder and Chairperson of StepUp360 which is India’s first IP Enabled Incubator cum Accelerator for Women. He is deeply committed to add value to the start-up ecosystem and revolutionize entrepreneurship picture in India. He has been being felicitated with ‘Mahatma Gandhi Samman’ award.This award was presented by Meira Kumar, Former Speaker at Lok Sabha. Mahatma Gandhi Samman is awarded to only 25 Indians globally for their contribution in respective fields. He was also a part of The Think Tank Series on IPR {Series 1} on ‘National IPR Policy – a way forward’, supported by MSME- Ministry of India

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