Startup Leaders Speak on the National Startups Day

National Startups Day falls on 16th Jan 2024. Startups have become a vibrant community in the Indian IT sector. They face many challenges of resources, infrastructure, funding, tech knowhow, import regulations, scaling in the business, unstable market and constantly evolving tech. However, they meet these challenges head on and continue to persevere on their path. Of course, many startups disappear on the horizon shortly after they take off because they are unable to meet these challenges. But there are many that survive, manage to get funding and make it in the segment of large enterprises.

On the occasion of National Startups Day, some startup leaders have expressed their opinion on the relevance of startups in the business scenario of India. Following are some of them -

Zaiba Sarang, Co-founder, iThink Logistics says, "Innovation and entrepreneurship are the key drivers of growth and development in the country. Startups are crucial for the economy and society, as they create jobs, solve problems and drive innovation. Over the last decade, there has been unprecedented growth and impact of many startups in various sectors and domains, revolutionising business as we know it. On this National Startup Day, we, at iThink Logistics, are proud to celebrate the spirit of innovation and entrepreneurship. We extend our heartfelt congratulations and support to all the entrepreneurs who are working hard to achieve their dreams and make a difference in the world."

Hyder Khan, CEO, Godawari Electric Motors says, "On this auspicious Startup Day, I am humbled and inspired by the incredible journey of innovation and perseverance that defines the spirit of entrepreneurship. At Godawari Electric Motors, we believe in the power of dreams and the relentless pursuit of excellence. The growing urge to move towards sustainable business models in startups is also helping the EV ecosystem to grow in a robust pace. As we celebrate Startup Day, let us forge ahead with unwavering determination, embracing challenges as opportunities, and lighting the path to a future where innovation knows no bounds."

Saurav Kasera, Co-Founder, Clirnet says, "On National Startup Day, we proudly celebrate the entrepreneurial spirit of India. In recent times, the startup industry has faced numerous challenges due to various factors. Despite these challenges, India remains a major hub for startups. The government's support has played a crucial role in boosting the startup ecosystem; however, the sector continues to grapple with significant challenges, including securing funding, navigating regulatory complexities, transforming health habits, and bridging technology gaps.

At Clirnet, we recognise our pivotal role in healthcare innovation. As leaders in the sector, our primary focus should be on creating social impact and fostering continuous innovation, prioritising these goals over financial gains. It is essential to instill a culture of perpetual innovation within our teams, ensuring that every project not only enhances the quality of life for the under-served, but also showcases cutting-edge solutions in healthcare.

Our commitment to providing affordable and accessible care contributes positively to society and upholds ethical standards. For every healthcare startup, true success is measured by the number of lives improved through our collective efforts. We are dedicated to making a meaningful impact and continuously striving to better the lives of those we serve."

Nishith Rastogi, Founder and CEO, Locus says, "National Startup Day is a powerful testament to the boundless potential of entrepreneurship, which is instrumental in creating jobs, driving innovation and fueling economic growth in India. As an entrepreneur, I am deeply thankful for the consistent support extended by the Government of India to our entrepreneurial landscape. The success story of the ONDC (Open Network for Digital Commerce) is particularly inspiring in the logistics field, demonstrating how innovative startups can transform entire industries.

At Locus, we firmly believe that the government's visionary initiatives, exemplified by programmes like Digital India, act as ideal launchpads for Indian entrepreneurs. These initiatives encourage them to push boundaries, making a significant impact continually. We actively promote a culture that nurtures entrepreneurship and innovation for the greater good."

Ravinder Goyal, Co-founder, Erekrut says, "On this National Startup Day, amidst a funding winter, India’s HR tech landscape shines with resilience. Despite global headwinds, 2023 witnessed nearly 1,000 HR tech startups raising over $11 billion, underscoring the vast potential in transforming workplace operations. This success is attributed to a focus on fundamentals, with 60% of founders reporting increased revenues, validating the resilience fostered by timely innovations such as AI in recruiting and flexible work policies.

However, challenges persist, including regulatory hurdles and the need for guidance in navigating market access and scaling funds. Addressing these could solidify India’s position as a global HR tech powerhouse. The future blueprint involves the nimble evaluation of emerging work models and addressing ecosystem-specific pain points. As work paradigms and employee expectations evolve, HR tech must drive disruption while enhancing organisational health.

At such a crucial juncture, the key to innovation lies in understanding and responding quickly to the unique needs of India’s startups. By learning from the past year’s progress and strategically investing in problem-solving for tomorrow, we can reshape global workforces."

The comments above show that the startup leaders are optimistic about their future despite challenges and are hopeful for a future of growth.

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