This round table article provides a well-rounded view of the Indian startup ecosystem which in recent times has been grabbing attention from investors, policy makers and the general public alike. The Indian startup ecosystem is the third largest and the fastest growing in the world. Is the euphoria justified or over-hyped? What are the positives and what are the shortcomings of the ecosystem? Where is it headed in the coming years? The article addresses these and other questions by drawing on the expertise and experience of four people, who have an intimate knowledge of the workings of the ecosystem. Tulsi Swamy of Prime Venture Partners brings the venture financier perspective. Naveen Asrani of Microsoft weighs in with his experience of working with young entrepreneurs and helping them grow their ventures. Nagaraja Prakasam, an impact investor and mentor, analyses if, and then how, the ecosystem is creating a social impact. Malavika Velayanikal, in her role as a business journalist, shares her insights on the emerging trends in the ecosystem.
In summary, the startup ecosystem in India has many positives -- a vibrant knowledge economy and a young, qualified workforce; a plethora of problems, which offer ripe business opportunities; and investors who are convinced about the India potential. However, several challenges remain to be overcome. First, entrepreneurs need to develop the mindset of challenging the status-quo, and society needs to support them by being more tolerant of failures. Second, entrepreneurial education is key to reduce avoidable mistakes and increase the odds of success for the venture and its investors. Finally, Indian startups have been making waves with high valuations. However, the need of the hour is to focus on creating value, and to solve the pressing problems that the country faces.
