What defined the past decade for Indian startups; How startup Bharat is gearing up for 2021
As we enter 2021, we take a look back into what trends defined the past decade for Indian startups. The startup ecosystem achieved several milestones: from boasting more than 50,000 tech startups and raising billion-dollar funding deals to India becoming the third-largest startup ecosystem, from building digital and tech infrastructure in the country to promoting women and student entrepreneurs.
While COVID-19 may have turned our lives upside down, it has certainly provided an opportunity for startup Bharat to rise to the occasion. With an influx of youth, startups from non-metro cities rose to the challenges thrown by COVID-19 with zeal and positivity, and worked hard to innovate.
As the pandemic forced people indoors, many companies switched to the Work from Home (WFH) model, liberating people from traditional concepts of associating working from office with higher productivity, building the desired corporate culture, and overall development of any business. Several companies, including tech giants Facebook and Twitter, have already given their staff the option to permanently WFH.
The year 2020 proved to be consequential for MSMEs as well, with the global health crisis forcing them to shift gears. The time was tough, and immediate measures were required to survive the lockdown. Indian MSMEs and small businesses stepped up their game by pivoting, innovating, and moving their operations online, even when sitting behind closed doors.
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Quote of the day:
"Businesses will need to look at digitising several processes, allowing them to have better control over their business in a largely uncertain future."
— Tejas Goenka, Managing Director, Tally Solutions