March 30, 2018

THE EMERGENCE OF
STARTUP CULTURE

Gone are the days, when one would find students decked up in suits holding pile of documents, preparing for interviews during college placements. Call it a trend, fad or boom but that scenario seems to be overshadowed by the ones dressed up casually holding sleek laptops, working on their start-ups.
The pace of this transformation from being an employee to an employer has been a drastic one. The emergence of Start-up Culture has been significant in recent years. According to the Nasscom Start-up Report of 2017, India has emerged as the 3rd largest Start-up Ecosystem in the Tech field!

Emerging Startup Culture

We decided to look into a few reasons that led people from getting employed to being an employer. Here's what we came up with-

UNEMPLOYMENT

Environmental circumstances like unemployment has been one of the major reasons that has led to the emerging of start-ups. According to the latest World Employment and Social Outlook report of 2017, by United Nations International Labour Organisation, the number of jobless in country is expected to increase substantially in the upcoming years.

AWARENESS

The recent burgeoning in awareness about the entrepreneurship world has induced as well as unfolded the interests of the youth in it. Many Engineering colleges in the country, are now emphasising on building entrepreneurial skills, by forming special departments called "Entrepreneurship cells" under the guidance of professional mentors. Government Schemes and Movements like "Make in India" aimed at encouraging product-based start-ups, have facilitated financial aid to the emerging entrepreneurs.

ATTITUDE and ASPIRATIONS

The attitude of not wanting to work "under" someone, has been driving people to be their own boss and hence has contributed to start-ups ocean. Aspirations of fame and money has also played a pivotal role in making of an entrepreneur.

INSPIRATION

And yes, there are people who aim at touching lives, and making it easier. Public interest based start-ups aim at easing life and contributing to the society. Some entrepreneurs are inspired by the idea of serving people, and in turn want to become an inspiration that aids in the betterment of the society. These are not driven by monetary desires but by the virtue of serving the society and making a difference in the lives of people.
For Example,
The Kairos Society is an organisation that works for the amelioration of young entrepreneurs who are working for a global cause and aiding in making this world a better place. According to an article by Tech.co in the past four years alone, the top 25 Kairos companies have raised a total of over $600 million in investment capital and are collectively valued at over $3 billion.

A cumulation of these reasons has ultimately led to the momentous emergence of the Start-up Culture!

- Saloni Bonde(FE)

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