The start-up culture in India, which primarily began in Bangalore, has witnessed a massive uptick in the past few years.
Recognising the value of such start-ups, the Government of India launched the initiative of Startup India scheme in 2016 to promote this culture and encourage individuals to enter the entrepreneurship circle.
The programme assists Indian start-ups in acquiring easy financing options for their seed funding, working capital, and other pecuniary requirements.
In 2018 alone, India witnessed the addition of more than 3000 start-ups and more than 1300 start-ups in 2019.
This popular drive, combined with growing financial convenience of business loans and other financing options, have played a significant role in driving the nation’s economy.
However, not all start-ups can taste success in the increasingly competitive Indian market. While most are clones of popular ideas, some business ventures have pierced the mundane and emerged as highly disruptive and successful in their respective industries.
Here are the top 5 business stories of the past few years that have made a crucial change in the entrepreneurship fabric of India –
Cure.fit, founded in 2016, is a one-of-its-kind start-up that promotes the cause of healthy living. It is an app-based lifestyle platform that provides comprehensive lifestyle solutions and cure across an eclectic range of food, mental and physical wellbeing.
Individuals can access fitness videos, online workout sessions, learn ways to be mentally fit via holistic regimes of exercises, and also consult professional medical practitioners for a range of health complications.
Dunzo was founded in 2015, and it is a holistic delivery service like none other. It combines the services of famed companies based on the same premise and offers everything at one place. The idea behind the start-up is it connects customers with delivery partners around them who will pick up anything ranging from groceries to medicines and from gifts to pet supplies.
Furthermore, app users can also send packages via the app and avail bike pools. The all-in-one app has found significant popularity in the cities like Bangalore, where it operates owing to the evident and wide range of convenience it offers.
Cleardekho, founded in 2016, operates on an online-to-offline eyeglass delivery service, similar to the business premise of Lenskart. However, owing to its comparatively low prices, convenient & easy-to-navigate user interface, and fast delivery service, the start-up has gained considerable traction in the past 4 years.
It currently delivers reading glasses, prescription glasses, sunglasses, and even contact lenses across India. Cleardekho is also the largest eyewear brand in India currently.
CoolBerg, founded in 2016, is another unique start-up that has made a marked impression in the Indian community. It works on the one-of-a-kind premise of brewing a non-alcoholic beer, thus, providing respite to the scores of individuals who feel out of place at parties and other occasions.
It currently provides their beverages in 7 different flavours, all made on a natural base of malts and hops, thus, ensuring the taste of actual beer without the alcohol component.
Shuttl is a transportation app, founded in 2015, with a singular premise of organising the disorganised public transport facilities. The app is a major hit amongst office-going commuters due to its convenient booking facilities and comfortable transportation experiences.
If all these start-ups have one thing in common, it is the uniqueness of their ideas and also recognising the genuine needs of the Indian populace and delivering services accordingly.
However, mere ideas do not guarantee success. It also requires considerable planning, testing out ways to acquire small business finance, strategising capital requirements once operations commence, keeping a steady flow of working capital, etc.
While there is an abundance of funding options to raise capital for a business, it is the latter stages that become the test of an entrepreneur.
Nevertheless, capital is the bloodline of a business and requires due attention as well, at all stages in business operations.
Entrepreneurs can utilise a business loan strategically to meet various crucial obligations like net working capital, hiring staff, developing infrastructure, etc.
Nevertheless, the growing business opportunities in India has significantly driven the start-up culture with more than 50,000 start-ups currently operating in the country compared to a mere 7000 in 2008.
Individuals, who are yet to join the bandwagon, can also capitalise on this tide by making the right moves at the exact junctures.