What 2020 Holds For The Indian Startup Ecosystem?
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The pace of a start-up turning into an enterprise and mega deals making it possible has been fervent, setting the momentum for the next decade—the 2020s—to be more glorious and yet more real. So, who will be 2020’s unicorns and how will they change our lives? Would the next decade bring more innovation on top of innovation or would it be radically different? Undeniably, the new tech start-ups would not only see a much broader impact than their predecessors from the previous decade but also the governance would be much tighter and articulated as parliaments would increasingly inculcate more tech minds.
If I were to reflect on the decade gone by and handpick one star innovation, it would be communication—whether they were mobile phones becoming smarter every year or the proliferation of social media—that was able to give a new vision to start-ups big and small. For the first time, people even within the confines of their homes were able to find a voice and a channel to showcase ideas, skills and fears.
The period from December 15 to January 5 is usually the most productive time of the year for entrepreneurs because this is when they take stock on what worked and what did not whilst planning for the year ahead; not to forget, entrepreneurs do this all year round. New year signifies resolutions, planning and growth.
On the subject of resolutions, one of the most common ones in 2019 was to feed the thirst for knowledge and therefore read a new book between a week and a month. Consequently, hardcover and paperback book sales saw 7.8 per cent and 3.1 per cent increase in revenue respectively, according to Association of American Publishers. Given when just 10 per cent of people actually keep their resolutions globally, we are waiting to find out what’s in store for 2020.
Every year brings in new challenges, whether it is climate, water, energy, food that the powerful and optimistic force of start-ups are rising to address before they make human life more miserable. We are inviting nominations for our Annual Series of 35 Under 35 as we look out for businesses that are cutting through the clutter to find solutions to many of the problems the world faces and make the decade ahead a time of opportunity, creativity and growth. Reach out to us and we will make sure we put your business out there for the world to know.
In the current edition, experts give a rundown on the trends they perceive will take the next decade a notch higher. As we saw craft beer brewing everywhere, we saw it as the flavour of the year and bring you some start-ups sailing in this boat.
I wish you a great start to a new year and decade.
(This article was first published in the January 2020 issue of Entrepreneur Magazine. To subscribe, click here)