International Journal of Academic Research and Development

International Journal of Academic Research and Development


International Journal of Academic Research and Development
International Journal of Academic Research and Development
Vol. 2, Issue 2 (2017)

Innovative entrepreneurship and startup


Ravi Kumar Sharma, Ashish Awasthi

The current century is the century of transformation. In terms of business, it is the time to transform from the traditional to the modern and move further towards the futuristic. ‘Digital’ has ceased to be a word that was restricted to scientific community; it is fast moving beyond its orbit to become a habit, a way to do business and a way to live life. For business, Computers have become things of past and are being replaced with devices that are enabled with ‘Artificial Intelligence’. ‘Startup’ is no longer a jargon restricted to a particular group; it is rapidly getting absorbed into the very fabric of Indian business ecosystem. Newer business practices are evolving rapidly, the glass ceiling is breaking and ever increasing number of female business leaders is joining the brigade. Old projections and statistics are being rewritten with pride. Business is getting amalgamated with technology and the combination is creating richer avenues with much more capacity to create jobs and drive the economy forward to transform the lives of millions of individuals. In a nutshell, it is a very interesting time for Indian business and economy. We are witnessing the ‘Reforms Era’ in India where everything seems to be undergoing a metamorphosis – from tax structure to business practices, from corporate governance to focus on digital transactions, from rapid increase in the number of startups to emergence of newer markets. This is the ‘Start – grow – the digital way’ age, the game has just begun. The paper focuses on ‘Startups’ as the accelerators of the economic growth and development. It explains that the Indian economy can scale heights that have been never witnessed before if the newly created digital ecosystem is carefully nourished by the government together with its regulatory agencies in terms of providing the right environment for the startups to grow and become sustainable businesses.
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