##How prepared are we for the challenges?
These days, there is lot of euphoria and talk about Indian start up ecosystem thanks to some of the recent success stories like Flipkart, Snapdeal, Ola cabs, Redbus, Housing etc. Various sources indicate that we now have close to 3500 startup companies, ranking us 3rd or 4th largest in the world. But, how do we actually stack up against rest of the countries on various KPIs? We are way behind in terms of the most valuable companies, the most innovative companies and the most number of patents. What does it take for our startups to actually standup and become counted amongst global brands? The chart below summarizes the good, the bad and the ugly part of the current state of Indian startups.
Number of Patents filed indicate a country’s Innovation quotient. China is 70 times ahead of India
Some of the serious challenges faced by Indian startups today are:
- Societal apathy towards entrepreneurship and its high risk of failure
- Lack of patience to build products and global brands for long term value and growth
- Lack of access to significant institutional capital especially early to pre-revenue stage
- Ease of doing business from registration to taxes to raising capital to stock options