May 29, 2018 by Team Vivirhub
Why are startups getting more attention in Economy of every Nation?
“Chase the vision, not the money, the money will end up following you”
Well, before moving to the actual topic tell me something.
While strolling over your social media page, which startup stories make you stop and read more about them? I am sure not all of them but few.. Yes!! the ones which are innovative and which address your problem with a promising solution.
But who are giving those solutions?? Those Big MNCs, Industrial giants? NO….. these are startups that come with extraordinary ideas touching human values and problems with a solid solution.
Startups are backed by a powerful force of passion and obsession, which makes them stand ahead of the rest and stay individual. The obsession is with regard to the problem-solving technique which has to be implemented holistically.
Problem simplification and effectively devising something to bridge the gap between demand and supply are the keys to a successful startup.
I’ll give some examples
2. Cab: Booking a cab has always been a lethargic job. Waiting on the long queues or waiting over those long frustrating phone calls. Ah!! Tough time …. Thanks to our can startups… Uber, Ola which revolutionized the cab-booking totally by taking it online. You can now instantly book a cab at a single click.
4. On road solutions: Have you heard of crossroadsIndia? Try it. it’s awesome. Their automobile mechanics are available 24/7 for providing you a better repair assistance in case of a tire puncture, car breakdown, towing facility covering almost every automobile needs.
5. EBooks store: No need to buy those heavy and expensive books when you can read them online over pdf. Amazon Kindle did the right thing which was well appreciated.
6. Doorstep Services: Urban Clap!!! Now you get me. You can easily find professionals such as beauty experts, wedding photographers, plumbers etc and get your things done with just a click.
But the point is why nations are preferring startups?
1. New Ideas!!! Calls for Innovation
The force which leverages the economic development of any nation and increases productivity is INNOVATION.
Startups keep on implementing new and novelty ideas for commercializing the technology.
You would have often seen that large companies tend to merge or acquire the young, budding startups for getting an additional competitive advantage. They tend to integrate the startup’s technical innovations so as to remain in the market.
2. Job provider rather than a job seeker
When Uber was incepted in India, they initially focused on metro cities and expanded on demand which ultimately created a lot number of job in the entire nation covering almost every city in India.
So, startups contribute heavily to the nation’s development ecosystem by generating new jobs and opportunities. They have a capacity to absorb every age group irrespective of the qualification.
Startups are giving birth to a new “Y generation” which is far more ahead and smart in all respects.
3. Evolution of a new competitive dynamics
Back in 2005, when MMT (make my trip) was incepted by Deep Kalra, no one would have thought that it will give a new boost not only to the tourism sector but eventually contributing a lot in Indian Economy. Initially, they started with online ticketing for railways, flights etc. Then they moved into hotel sector offering hotel rooms at affordable prices.
These startups provide the desired competitiveness and dynamics to the economy of any nation. This, in turn, makes the economy hale & hearty and keeps the spirit of competition alive.
4. Promotes R&D
Be it technology or services based startup, they all are interconnected to the knowledge institutions. This significantly boosts the R&D sector of the companies, initiations, and connected institutions. A good startup becomes role model for students and encourages them (budding entrepreneurs) regarding the importance of a startup in implementing their idea.
5. Delving a proactive society
A society in which startups are given preference clearly symbolizes its urge to grow and stand as an invincible conqueror. Startups make a society proactive by making people aware of their responsibility to work and focus on their career development.
“There’s nothing wrong with staying small. You can do big things with a small team”
To sum up, a startup is an entrepreneurial venture which is incepted to solve a problem with the latest technology and is easy to reach. The problem can be from any domain. It can be financial, capital, general, and technical… anything…
As humans, we never run out of problems, so the future of startups is bright!!!
“Startups are not about ideas. They’re about making ideas happen”
Locate an idea which you think needs to be solved. Thinks about the pains of the general public, ideas will automatically start popping. Vivirhub is a perfect place to give wings to your ardent ideas in a digital format. Be it an app, website or content, our professionals work round the clock to “Make things happen!!!”
Any embryonic idea in your brain? Let’s hit it together…