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The startup culture in India is on a topsy-turvy ride; while the numbers are rising (4,200 tech startups and counting), there seems to be a wave of uncertainty among aspiring entrepreneurs to bear fruits from their fortune. Research shows that in 2014, 40 percent of startups had faltered within the first five months of the year. After keen analyses of the startup crisis, the Central Government initiated the Startup India Action Plan, with a stand-out reform known as the self certification scheme.
The scheme offers a new perspective to an aspiring entrepreneur’s startup approach and eliminates fear factors such as failure and lack of funding.
What is self certification scheme ?
Before entrepreneurs can begin their startup journey, they must submit affidavits with all the required legal documents. This can be quite strenuous as there is a lot of red tape one has to cut across before they’re given the green light. With self-certification, the process is made hassle-free, as you no longer have to depend on third-parties to give you a formal statement of approval to begin your practice.
Under self-certification, you will only have to produce original documents to a gazetted officer in the final stage. Here’s how it benefits the startup culture.
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what is coworking space?
A Coworking space is a professional working space provided wherein people with varied professional interests can come together under one roof for their individual/organizational growth and development. These professionals can be startups, freelancers, innovators, small business’s etc., who are looking for a work environment that is nice and quiet with basic amenities like furniture and Wifi (internet). A Coworking space or a shared office space as most of us know it is a place where you can be productive with or without building connections with the others.
http://www.thesyndicate.tech/blog/2017/02/02/what-is-coworking-space/
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Audio
what is coworking space ?
A Coworking space is a professional working space provided wherein people with varied professional interests can come together under one roof for their individual/organizational growth and development. These professionals can be startups, freelancers, innovators, small business’s etc., who are looking for a work environment that is nice and quiet with basic amenities like furniture and Wifi (internet). A Coworking space or a shared office space as most of us know it is a place where you can be productive with or without building connections with the others.
Although these Coworking spaces provide a great opportunity to network and connect with other like-minded people you can even turn the other companies working there as your own clients. A shared space offers a great experience in building and developing one’s personal and professional network especially in the initial phase of the work life.
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Link
A Coworking space is a professional working space provided wherein people with varied professional interests can come together under one roof for their individual/organizational growth and development. These professionals can be startups, freelancers, innovators, small business’s etc., who are looking for a work environment that is nice and quiet with basic amenities like furniture and Wifi (internet). A Coworking space or a shared office space as most of us know it is a place where you can be productive with or without building connections with the others.
http://www.thesyndicate.tech/blog/2017/02/02/what-is-coworking-space/
0 notes
Link
A Coworking space is a professional working space provided wherein people with varied professional interests can come together under one roof for their individual/organizational growth and development. These professionals can be startups, freelancers, innovators, small business’s etc., who are looking for a work environment that is nice and quiet with basic amenities like furniture and Wifi (internet). A Coworking space or a shared office space as most of us know it is a place where you can be productive with or without building connections with the others.
Although these Coworking spaces provide a great opportunity to network and connect with other like-minded people you can even turn the other companies working there as your own clients. A shared space offers a great experience in building and developing one’s personal and professional network especially in the initial phase of the work life.
0 notes
Video
tumblr
Do you know which place in India is often compared to San Francisco? Yes, it is Bangalore. Two main things that the capital city of Karnataka and the North Californian city have in common are the pleasant climatic conditions and an environment that caters to the business startup hub in bangalore.
The startup ecosystem is primarily based on and is driven by metropolitan cities that have an urban lifestyle. Although cities like Pune, Delhi, Gurgaon, Mumbai, Indore, and Chennai also have many start-ups in diverse fields mushrooming, Karnataka, especially Bangalore, is spearheading the startup growth in India.
Still unsure why Bangalore, Karnataka is the startup hub of India? Here are the top reasons!
1.Pool of talent in multiple fields
2.Investors’ interest in startups
3.Numerous startup incubators
4.Cosmopolitan lifestyle
5.Good infrastructure and facilities
http://www.thesyndicate.tech/blog/2017/01/12/top-reasons-karnataka-startup-hub-india/
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Audio
Do you know which place in India is often compared to San Francisco? Yes, it is Bangalore. Two main things that the capital city of Karnataka and the North Californian city have in common are the pleasant climatic conditions and a startup friendly environment.
The startup ecosystem is primarily based on and is driven by metropolitan cities that have an urban lifestyle. Although cities like Pune, Delhi, Gurgaon, Mumbai, Indore, and Chennai also have many start-ups in diverse fields mushrooming, Karnataka, especially Bangalore, is spearheading the startup growth in India.
Still unsure why Bangalore, Karnataka is the startup hub of India? Here are the top reasons!
Pool of talent in multiple fields
Karnataka is one of the few states in India that has a large number of colleges and universities. Furthermore, many students from various other places prefer to move to Karnataka for their undergraduate and postgraduate studies.
In fact, Karnataka is an educational centre, by itself, with 18 state universities, 15 deemed universities, 180+ engineering colleges, and few hundreds of general degree colleges.
Karnataka also has some of the most premier educational and research institutions such as the Indian Institute of Technology – Dharwad, the Indian Institute of Science – Bangalore, the Indian Institute of Management – Bangalore, the National Institute of Technology – Karnataka, and the National Law School of India University.
Therefore, the number of human resource available is steadily increasing. Not only is the state flooded with aspiring entrepreneurs, but it is also filled with students, who want to take up internships in various fields, and talented individuals, who prefer working in a startup culture.
Investors’ interest in startups
Apart from hi-quality talent, Bangalore has a lot of investors and mentorship support. When it comes to Venture Capital investments, Bangalore stands second in the world with a four-fold increase in growth.
According to the Global Startup Ecosystem Ranking, 2015, Bangalore is at the 6th position internationally in terms of start-up funding. Likewise, in seed funding growth, Bangalore is the fastest with a 53% increase in the past two years.
In simple terms, Bangalore is well-placed as far as funding is concerned. What’s more, even the other cities of Karnataka like Mysore, Hubli, Dharwad, etc. are also joining the startup culture actively.
Numerous startup incubators
As we all know, business incubators are companies that help startups by providing services such as mentoring, seed funding, training, and provision of office space. The incubators are primarily dedicated to startups and early-stage companies.
Bangalore has numerous incubators that help startups build a strong business plan and connect them to industry mentors. Moreover, some startup incubators, like The Syndicate, provide legal support to the startups.
Karnataka, especially Bangalore, has a lot of co-working spaces that provide a complete office setup with the internet, workstations, and café, etc., which is very beneficial to the startup companies.
Cosmopolitan lifestyle
One of the major things that contribute to run a successful startup is the lifestyle and culture of the business’s location. Cities in Karnataka like Mysore, Bangalore, etc. have a cosmopolitan lifestyle. To start with, the global and national official languages, English and Hindi, are prevalently spoken across the cities.
Secondly, most co-working spaces are open 24×7, so it is easier for startups to function without any hindrance. From an entertainment point, the city has an active nightlife, numerous restaurants, adventure activities, coffeehouses, malls, etc., which interests the young working population of the city.
Furthermore, since people from various states in India migrate to Bangalore for studies or job, lifestyle in the city is multi-ethnic and multi-cultural. The cosmopolitan culture of the city makes it a home away from home for all those who migrate.
Good infrastructure and facilities
The region in and around Bangalore – Mysore is known for the hi-quality educational institutions, incredible infrastructure, and well-connected transport system. These facilities make Karnataka a suitable environment for aspiring entrepreneurs to start their new businesses.
Due to Bangalore’s pleasant weather, fascinating infrastructure, and well-developed facilities, even the Indian government has invested a lot in creating and running research and development centres in and around Bangalore. In fact, Bangalore is the headquarters for many government-run R&D institutions, like National Aerospace Labs, Hindustan Aeronautics Limited, Indian Space Research Organization, Bharat Electronics, etc.
Finally, the city has an impressive metro rail system that connects almost all the major localities. Bangalore is also reachable via roadways, railways, and airways from other cities like Chennai, Hyderabad, Mumbai, etc.
So, if you are looking to start your new business, then Karnataka, especially Bangalore or Mysore, is an ideal destination for your new startup.
http://www.thesyndicate.tech/blog/2017/01/12/top-reasons-karnataka-startup-hub-india/
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TOP REASONS WHY KARNATAKA IS THE STARTUP HUB OF INDIA
Do you know which place in India is often compared to San Francisco? Yes, it is Bangalore. Two main things that the capital city of Karnataka and the North Californian city have in common are the pleasant climatic conditions and a startup friendly environment.
The startup hub is primarily based on and is driven by metropolitan cities that have an urban lifestyle. Although cities like Pune, Delhi, Gurgaon, Mumbai, Indore, and Chennai also have many start-ups in diverse fields mushrooming, Karnataka, especially Bangalore, is spearheading the startup growth in India.
Still unsure why Bangalore, Karnataka is the startup hub of India? Here are the top reasons!
Pool of talent in multiple fields
Karnataka is one of the few states in India that has a large number of colleges and universities. Furthermore, many students from various other places prefer to move to Karnataka for their undergraduate and postgraduate studies.
In fact, Karnataka is an educational centre, by itself, with 18 state universities, 15 deemed universities, 180+ engineering colleges, and few hundreds of general degree colleges.
Karnataka also has some of the most premier educational and research institutions such as the Indian Institute of Technology – Dharwad, the Indian Institute of Science – Bangalore, the Indian Institute of Management – Bangalore, the National Institute of Technology – Karnataka, and the National Law School of India University.
Therefore, the number of human resource available is steadily increasing. Not only is the state flooded with aspiring entrepreneurs, but it is also filled with students, who want to take up internships in various fields, and talented individuals, who prefer working in a startup culture.
Investors’ interest in startups
Apart from hi-quality talent, Bangalore has a lot of investors and mentorship support. When it comes to Venture Capital investments, Bangalore stands second in the world with a four-fold increase in growth.
According to the Global Startup Ecosystem Ranking, 2015, Bangalore is at the 6th position internationally in terms of start-up funding. Likewise, in seed funding growth, Bangalore is the fastest with a 53% increase in the past two years.
In simple terms, Bangalore is well-placed as far as funding is concerned. What’s more, even the other cities of Karnataka like Mysore, Hubli, Dharwad, etc. are also joining the startup culture actively.
Numerous startup incubators
As we all know, business incubators are companies that help startups by providing services such as mentoring, seed funding, training, and provision of office space. The incubators are primarily dedicated to startups and early-stage companies.
Bangalore has numerous incubators that help startups build a strong business plan and connect them to industry mentors. Moreover, some startup incubators, like The Syndicate, provide legal support to the startups.
Karnataka, especially Bangalore, has a lot of co-working spaces that provide a complete office setup with the internet, workstations, and café, etc., which is very beneficial to the startup companies.
Cosmopolitan lifestyle
One of the major things that contribute to run a successful startup is the lifestyle and culture of the business’s location. Cities in Karnataka like Mysore, Bangalore, etc. have a cosmopolitan lifestyle. To start with, the global and national official languages, English and Hindi, are prevalently spoken across the cities.
Secondly, most co-working spaces are open 24×7, so it is easier for startups to function without any hindrance. From an entertainment point, the city has an active nightlife, numerous restaurants, adventure activities, coffeehouses, malls, etc., which interests the young working population of the city.
Furthermore, since people from various states in India migrate to Bangalore for studies or job, lifestyle in the city is multi-ethnic and multi-cultural. The cosmopolitan culture of the city makes it a home away from home for all those who migrate.
Good infrastructure and facilities
The region in and around Bangalore – Mysore is known for the hi-quality educational institutions, incredible infrastructure, and well-connected transport system. These facilities make Karnataka a suitable environment for aspiring entrepreneurs to start their new businesses.
Due to Bangalore’s pleasant weather, fascinating infrastructure, and well-developed facilities, even the Indian government has invested a lot in creating and running research and development centres in and around Bangalore. In fact, Bangalore is the headquarters for many government-run R&D institutions, like National Aerospace Labs, Hindustan Aeronautics Limited, Indian Space Research Organization, Bharat Electronics, etc.
Finally, the city has an impressive metro rail system that connects almost all the major localities. Bangalore is also reachable via roadways, railways, and airways from other cities like Chennai, Hyderabad, Mumbai, etc.
So, if you are looking to start your new business, then Karnataka, especially Bangalore or Mysore, is an ideal destination for your new startup.
0 notes
Link
Do you know which place in India is often compared to San Francisco? Yes, it is Bangalore. Two main things that the capital city of Karnataka and the North Californian city have in common are the pleasant climatic conditions and a startup friendly environment.
The startup hub primarily based on and is driven by metropolitan cities that have an urban lifestyle. Although cities like Pune, Delhi, Gurgaon, Mumbai, Indore, and Chennai also have many start-ups in diverse fields mushrooming, Karnataka, especially Bangalore, is spearheading the startup growth in India.
Still unsure why Bangalore, Karnataka is the startup hub of India? Here are the top reasons!
Pool of talent in multiple fields
Karnataka is one of the few states in India that has a large number of colleges and universities. Furthermore, many students from various other places prefer to move to Karnataka for their undergraduate and postgraduate studies.
In fact, Karnataka is an educational centre, by itself, with 18 state universities, 15 deemed universities, 180+ engineering colleges, and few hundreds of general degree colleges.
Karnataka also has some of the most premier educational and research institutions such as the Indian Institute of Technology – Dharwad, the Indian Institute of Science – Bangalore, the Indian Institute of Management – Bangalore, the National Institute of Technology – Karnataka, and the National Law School of India University.
Therefore, the number of human resource available is steadily increasing. Not only is the state flooded with aspiring entrepreneurs, but it is also filled with students, who want to take up internships in various fields, and talented individuals, who prefer working in a startup culture.
Investors’ interest in startups
Apart from hi-quality talent, Bangalore has a lot of investors and mentorship support. When it comes to Venture Capital investments, Bangalore stands second in the world with a four-fold increase in growth.
According to the Global Startup Ecosystem Ranking, 2015, Bangalore is at the 6th position internationally in terms of start-up funding. Likewise, in seed funding growth, Bangalore is the fastest with a 53% increase in the past two years.
In simple terms, Bangalore is well-placed as far as funding is concerned. What’s more, even the other cities of Karnataka like Mysore, Hubli, Dharwad, etc. are also joining the startup culture actively.
Numerous startup incubators
As we all know, business incubators are companies that help startups by providing services such as mentoring, seed funding, training, and provision of office space. The incubators are primarily dedicated to startups and early-stage companies.
Bangalore has numerous incubators that help startups build a strong business plan and connect them to industry mentors. Moreover, some startup incubators, like The Syndicate, provide legal support to the startups.
Karnataka, especially Bangalore, has a lot of co-working spaces that provide a complete office setup with the internet, workstations, and café, etc., which is very beneficial to the startup companies.
Cosmopolitan lifestyle
One of the major things that contribute to run a successful startup is the lifestyle and culture of the business’s location. Cities in Karnataka like Mysore, Bangalore, etc. have a cosmopolitan lifestyle. To start with, the global and national official languages, English and Hindi, are prevalently spoken across the cities.
Secondly, most co-working spaces are open 24×7, so it is easier for startups to function without any hindrance. From an entertainment point, the city has an active nightlife, numerous restaurants, adventure activities, coffeehouses, malls, etc., which interests the young working population of the city.
Furthermore, since people from various states in India migrate to Bangalore for studies or job, lifestyle in the city is multi-ethnic and multi-cultural. The cosmopolitan culture of the city makes it a home away from home for all those who migrate.
Good infrastructure and facilities
The region in and around Bangalore – Mysore is known for the hi-quality educational institutions, incredible infrastructure, and well-connected transport system. These facilities make Karnataka a suitable environment for aspiring entrepreneurs to start their new businesses.
Due to Bangalore’s pleasant weather, fascinating infrastructure, and well-developed facilities, even the Indian government has invested a lot in creating and running research and development centres in and around Bangalore. In fact, Bangalore is the headquarters for many government-run R&D institutions, like National Aerospace Labs, Hindustan Aeronautics Limited, Indian Space Research Organization, Bharat Electronics, etc.
Finally, the city has an impressive metro rail system that connects almost all the major localities. Bangalore is also reachable via roadways, railways, and airways from other cities like Chennai, Hyderabad, Mumbai, etc.
So, if you are looking to start your new business, then Karnataka, especially Bangalore or Mysore, is an ideal destination for your new startup.
0 notes
Video
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IMPORTANT PHASES INVOLVED IN A STARTUP
Necessity is the mother of invention; while most business start up are launched with great ideas, according to the startup genome report, 90% of those startups fail due to self-destruction rather than competition. While the whole responsibility of starting and running a new business could be challenging, if you are flexible in your thinking and adapt effective strategies as you move along, you can be a successful entrepreneur.
To understand the startup business lifecycle better, have a look at the critical phases involved in a startup.
Seed and development
You have an idea, and you want to start a business based on that idea. However, just because you have a novel idea, it doesn’t mean that customers are going to buy products or services from you immediately.
The first necessary step is to study your prospective market. At this stage, you need to ask yourself a plenty of questions and research your potential target market. Some questions that you might have to research about are, “Is this idea novel?” “If not, who are my competitors?” “Is there space for my product or service in the market?” “Who are my target audience?” “Are my target market audience too limited?”
Once you have done your market research, you need to think about the funding. You cannot start any business without capital. Determine what you already have and what all you need. Once you know your business’ financial needs, research the costs associated. The costs involved must include everything related to your startup, such as office space rentals, staffing costs, etc.
If you plan to find investors to fund your business, then you need to have a strong business plan. Once you have created the plan of activities, you can practice your pitch. Alternatively, you can seek help from startup incubators, like The Syndicate, which will fund startups, mentor them, and provide incubation support.
Kick-start the Startup
This is the most crucial stage of the startup lifecycle. Once you have thoroughly researched about your business idea and decided on how to get funding, the next step is to launch your startup according to your business plan.
This, in fact, is one of the riskiest stages of the entire lifecycle. The mistakes made at this step can affect your business down the lane. One of the toughest challenges that you will be facing in this phase is that you might have overestimated the money and the time to market. Therefore, you must be careful enough not to burn through what little cash that you might have at this stage. Furthermore, you need to understand your customers and their needs.
For your business to achieve great heights, adaptability is the key. Tweaking your products and services based on customer feedback, revamping business strategy to suit the target audience, performing constant market research, etc. are some of the tasks involved in this stage.
Growth and development
Once your business has made it through the initial years, you need to revise your strategies to sustain as well as to grow. At this phase, your revenues and customer base keeps increasing. Thus, you need to explore the new opportunities and deal with the new issues.
While your profits might be growing, the competition you face will also be high.
Thus, in this stage, your focus should be on recreating a new mission, vision, and business strategy that will help you in running the business in a more formal manner. Also, you might need better management systems and policies to deal with the increased sales and customers. Finally, at this stage, new employees must be hired to handle the growing business.
Expansion:
Once your business starts to generate a consistent source of income, it’s the right time to think about expansion. At this stage, apart from expanding the workforce and client base, servicing customers, managing the growing revenue, and coping with competitors, you must also work on expanding your business.
In business, if you are not moving forward, then you are moving backwards. Therefore, you must come up with new business plans to keep your business growing and expanding.
That being said, your business shouldn’t be developed without understanding the risks involved. Understand the prospects for an expansion and be realistic with your business growth plan. Furthermore, get expert opinions from your mentors before expanding.
Expansion or Exit:
Once your company is seeing steady profits every year, you need to either push for further expansion or exit the business. While some types of businesses have the potential to grow continuously at a decent pace, some businesses need to move on through a sale.
The exit can be through a partial or full sale depending on the kind of business. At this stage, you need to get a proper valuation on your company, make the company worth more to the buyer, set up legal agreements, and close-out the business without any issues.
0 notes
Audio
Necessity is the mother of invention; while most start up businesses are launched with great ideas, according to the startup genome report, 90% of those startups fail due to self-destruction rather than competition. While the whole responsibility of starting and running a new business could be challenging, if you are flexible in your thinking and adapt effective strategies as you move along, you can be a successful entrepreneur.
0 notes
Photo
Necessity is the mother of invention; while most startup businesses are launched with great ideas, according to the startup genome report, 90% of those startups fail due to self-destruction rather than competition. While the whole responsibility of starting and running a new business could be challenging, if you are flexible in your thinking and adapt effective strategies as you move along, you can be a successful entrepreneur.
0 notes
Link
IMPORTANT PHASES INVOLVED IN A STARTUP
Necessity is the mother of invention; while most start up business are launched with great ideas, according to the startup genome report, 90% of those startups fail due to self-destruction rather than competition. While the whole responsibility of starting and running a new business could be challenging, if you are flexible in your thinking and adapt effective strategies as you move along, you can be a successful entrepreneur.
To understand the startup business lifecycle better, have a look at the critical phases involved in a startup.
Seed and development
You have an idea, and you want to start a business based on that idea. However, just because you have a novel idea, it doesn’t mean that customers are going to buy products or services from you immediately.
The first necessary step is to study your prospective market. At this stage, you need to ask yourself a plenty of questions and research your potential target market. Some questions that you might have to research about are, “Is this idea novel?” “If not, who are my competitors?” “Is there space for my product or service in the market?” “Who are my target audience?” “Are my target market audience too limited?”
Once you have done your market research, you need to think about the funding. You cannot start any business without capital. Determine what you already have and what all you need. Once you know your business’ financial needs, research the costs associated. The costs involved must include everything related to your startup, such as office space rentals, staffing costs, etc.
If you plan to find investors to fund your business, then you need to have a strong business plan. Once you have created the plan of activities, you can practice your pitch. Alternatively, you can seek help from startup incubators, like The Syndicate, which will fund startups, mentor them, and provide incubation support.
Kick-start the Startup
This is the most crucial stage of the startup lifecycle. Once you have thoroughly researched about your business idea and decided on how to get funding, the next step is to launch your startup according to your business plan.
This, in fact, is one of the riskiest stages of the entire lifecycle. The mistakes made at this step can affect your business down the lane. One of the toughest challenges that you will be facing in this phase is that you might have overestimated the money and the time to market. Therefore, you must be careful enough not to burn through what little cash that you might have at this stage. Furthermore, you need to understand your customers and their needs.
For your business to achieve great heights, adaptability is the key. Tweaking your products and services based on customer feedback, revamping business strategy to suit the target audience, performing constant market research, etc. are some of the tasks involved in this stage.
Growth and development
Once your business has made it through the initial years, you need to revise your strategies to sustain as well as to grow. At this phase, your revenues and customer base keeps increasing. Thus, you need to explore the new opportunities and deal with the new issues.
While your profits might be growing, the competition you face will also be high.
Thus, in this stage, your focus should be on recreating a new mission, vision, and business strategy that will help you in running the business in a more formal manner. Also, you might need better management systems and policies to deal with the increased sales and customers. Finally, at this stage, new employees must be hired to handle the growing business.
Expansion:
Once your business starts to generate a consistent source of income, it’s the right time to think about expansion. At this stage, apart from expanding the workforce and client base, servicing customers, managing the growing revenue, and coping with competitors, you must also work on expanding your business.
In business, if you are not moving forward, then you are moving backwards. Therefore, you must come up with new business plans to keep your business growing and expanding.
That being said, your business shouldn’t be developed without understanding the risks involved. Understand the prospects for an expansion and be realistic with your business growth plan. Furthermore, get expert opinions from your mentors before expanding.
Expansion or Exit:
Once your company is seeing steady profits every year, you need to either push for further expansion or exit the business. While some types of businesses have the potential to grow continuously at a decent pace, some businesses need to move on through a sale.
The exit can be through a partial or full sale depending on the kind of business. At this stage, you need to get a proper valuation on your company, make the company worth more to the buyer, set up legal agreements, and close-out the business without any issues.
0 notes