Startup success rate in India is far too low

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Mudda panellists say the Hyderabad Global Entrepreneurship Summit will give a huge boost to India’s entrepreneurial environment, generate employment and lead to women empowerment

The eighth Global Entrepreneurship Summit (GES) began in Hyderabad on Tuesday, with focus on women entrepreneurs, and all eyes have been on US President Donald Trump’s daughter and advisor Ivanka Trump. Co-hosted by Prime Minister Narendra Modi and Ivanka Trump, the theme of the three-day event is “Women First, Prosperity for All”.

The summit brought under spotlight India’s entrepreneurship environment and associated issues, like ease of doing business, impetus given to women entrepreneurs, and so on.  It was discussed at APN’s popular debate Mudda with participants Ajay Jha of Youth Innovation Lab (YIL), Mukesh Sharma, founder CEO of QA Infotech Pvt Ltd, JD Agarwal, economist, Dr Manan Dwivedi, US expert, and Govind Pant Raju, APN consultant.

Ajay Jha said that given India’s huge youth population, the event is a highly welcome development.

Mukesh Sharma said Indian entrepreneurs will gain from this huge exchange of ideas and talent, and women who have fire in their belly will be motivated to push ahead. He observed that nearly 52 percent of the participants are women.

Dwivedi said that it is to be noted that earlier such talks were led by high-level delegations, but this summit promises to be an event where many entrepreneurs can come forward and gain from the ideas exchange. He said Ivanka leading the delegation is symbolic of the importance given to women in this summit.

Sharma said that NASSCOM in India took huge steps to boost entrepreneurial talent in India, though he observed that the startup success rate has been far too low in India.

Raju said that this kind of informal discussion platform goes a long way in giving the requisite push to new entrepreneurs.

Agarwal said that Modi’s initiative is remarkable since so far the success rate of women entrepreneurs in India is very small.  He said that Ivanka’s speech should be motivating and India needs a huge entrepreneurial boost to generate more employment.

Jha said that it needs to be studied why there are comparatively fewer women entrepreneurs in India. He said this could be because at the school and college level, the correct nurturing environment is not provided to women.

Sharma said that times have changed and though earlier many projects in India would get mired in bureaucratic red tape, the single window clearance system should be encouraged that would help in ease of doing business.

Dwivedi said that the larger-than-life image of India given by Prime Minister Narendra Modi on his visits abroad has helped in changing global perception towards India.

Raju observed that there are many projects that are remarkable in India like that of Lijjat papad, a village-level enterprise that has made a huge mark. He said that it’s significant that Niti Aayog is looking at this summit seriously.

Jha said that entrepreneurs should devote time to motivate the youth by going to schools and colleges.

Agarwal said that there is a lot of difference in the Indian and US scenarios, however, it would help if India nurtures entrepreneurs at the school level and focuses on ease of doing business.

Raju said that SEVA of Lucknow is another initiative that employs women and has been a huge success. He said that India has a huge market and new entrepreneurs can focus on this country.

Compiled by Niti Singh Bhandari

Source: APN Live

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