It’s kind of hard to predict what’s going to happen to the startup scene in India this year, but I’ll take a chance and make some informed predictions. One big issue that’s affected everyone is demonetization, so no points for guessing that #cashless startups that help your business go digital in any way will be one of the startup trends for 2017. Here are some trends for the future which may serve to motivate you to read further.
Top Startup Trends for 2017 – #Cashless
This was the year when small card readers, mobile payment systems and apps, ecommerce site developers and other such providers finally stopped searching for work. They spend their time now by completing the huge backlog of work accumulated by the two hard and cold months of winter. That’s why #cashless startups will be the ones showing the biggest gains this year, and many of them will go on to become large companies in a year or two. It’s a good bet that there’s a Flipkart or Infosys in there somewhere.
Top Startup Trends for 2017 – #Coworking
Another big trend for startups, especially those in the big metro cities in India, is to avoid keeping staff cooped up in offices from 9-5. They’re giving their startups all the freedom needed to work from anywhere, at any time. This has led to a boom in co-working spaces in Bangalore, Mumbai, Delhi and other major cities.
New startup founders want to be a part of the scene in the tech hubs, but they can’t afford the rent. The alternative is to co-work from one of the shared spaces in these hubs. You don’t get your own private office, but you do have a good business address, desk space to work from anytime you want, free wifi, and meeting rooms in case you have a meeting with a client or your own team.
Top Startup Trends for 2017 – #Bootstrapping
Yet another trend for startups this year is to avoid taking funding and go #cashless, but in a different way – by #bootstrapping. Looking at how Stayzilla and others are facing heat after taking and spending millions from investors, many startup founders are now figuring out that it may be better to bootstrap by funding operations through sales revenue.
It doesn’t mean you shouldn’t spend only what you earn. You can invest your own personal funds as seed funding. The idea of bootstrapping is to avoid talking on debt or bringing in outside investors. If you only spend your own money and what you earn from sales, then you have no obligation to bankers, sundry lenders and/or investors. It’s a clean and neat way to run a startup, and the startup ecosystems in the country are now mature enough to support bootstrap startups even without funding.
Top Startup Trends for 2017 – #MadeinIndia
Speaking of startup support, the Govt. of India has recently stepped up support for startups in many ways. There’s a Rs. 10,000 crore corpus Fund of Funds that was launched to support the various programmes under the Startup India initiative. The government is also actively trying to prop up the manufacturing sector through incentives being provided under initiatives such as Make in India and #MadeinIndia. With so much money under different government initiatives flowing into startups that produce 100% local made products, you can expect a huge number of them trying to portray themselves as a part of the #MadeinIndia brigade, if only to get the government benefits.
It all ties in very nicely. Government support for #bootstrapped startups located in #coworking spaces, helping small businesses go #cashless and proud to be #MadeinIndia