Before looking for ‘out of the box’ solutions, India urgently requires in-box actions.
In the past year, India has been buzzing with the possibilities of start-ups. Many ‘angel investors’ from around the world have been pumping funds into hundreds of start-ups in the country. In the same spirit, Prime Minister Modi is chairing a major summit on start-ups tomorrow, January 16.
The reality on the ground, however, indicates that all is not well with Indian start-ups. In recent weeks, several start-ups have been closing down or being downsized. There may be many reasons for the same, but a key factor is the narrow and somewhat ‘borrowed’ approach to start-ups. Focusing on technology solutions for a thin slice of metro-consumers with super-smart phones is not what a large number of Indian households need today. An app-based grocery shopping start-up assumes that time is of value for consumers. But, with the price of food items being unaffordable for a large percentage of households even in metros and Tier 1 and 2 cities, saving time while shopping is the least of their priorities.
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