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Can The Startups Revive Manufacturing in India?

2017-08-05 10:43:33 | Legal Services
As we all however know, that Startup India is however a much appreciated, much needed and is thus also considered as an innovative initiative of the Government of India for the purpose of encouraging the people for the startup in India and thus also in order to invite them in the country’s main economy stream however in order to form a better and alsoa strong economy. The campaign is however equally ambitious as the Make In India program. The vision which is behind Startup India is however in order to drive the sustainable economic growth and also end up accelerating the employment opportunities.

The fact that India is considered as a fertile land for the start-ups is thus well recognised and is also acknowledged globally. The start-up behemoth which is the – Sillicon Valley – has however primarily catered to the consumer internet businesses such as the e-commerce, and also apps for the daily consumption in transport, food, travel, education and also media consumption. Thus , With the emergence of India however as a global services leader, however the traditional manufacturing sector’s growth has however been slowing down. This is thus however proportionately reflected in the start-ups culture here as well.

But the main question which however arises here is that will the emphasis which is on Make in India and also digital economy result in boosting the start-ups in hardware and also the manufacturing domain?

We can say that the lack which is of an enabled ecosystem, labs and also the market testing facilities are considered as a deterrents to the founders and investors alike. When one adds to this, manufacturing hardware is considered as capital intensive however making it even harder in order to enter or either scale up. Although some of the crowdfunding campaigns such as the Kickstarter however help in the cause, these are thus predominantly skewed towards the gizmo geeks however rather than as an enabler for the creation of hardware business.

Also , the emphasis which is however on the India tag has also led some of the specialised Government agencies in order to seek funding for the ESDM projects, and this has however also brought about the nascent change which is in the past couple of years. Entrepreneurship cells are however based out of the IITs are considered as a beginning in order to play an active part, and also a couple of the hardware start-ups have also scaled up to as in-house engineering.

There is need for the competent teams which however cannot be emphasised enough. Usually, such kind of start-ups thus tend to be the single-founder businesses who however have gained experience in managing the industrial products in the family enterprises. In the consumer internet businesses, the primary skillset is however software development. But for the purpose of manufacturing the start-ups, product design, an understanding of the engineering and production, and the domain expertise which is however in the middleware and software is also needed in order to structure a product. Hence, this thus also often turns out to be another stumbling block in the scaling for the start-ups. There is also however now a new market for the hardware experts, ranging from the accelerators to the supply chain experts and also consultants, who are however acting as facilitators for the manufacturing.

Funding is considered as a huge challenge.

The good news is thus that the mainstream VCs are however looking in order to jump onto the bandwagon. While we are however not seeing the poster boys yet, however a few funding success stories have however begun to emerge.

Many of the investors including us, today, have however started betting on the businesses with the hardware and also cloud-based data services. We however believe that once a hardware has however been installed which is thus within an industrial system or is either within a business, the stickiness factor is however considered as higher and the client relationship also has more depth. To this end, we also however have invested in a media devices business with the cloud-based data services, and are also actively looking in order to invest in the industrial IOT.

There is also thus a domestic demand for the manufacturing, which is however especially in the critical sectors such as healthcare and education. The uptake which is in these sectors will also however encourage a boom in the other sectors. The grooming of a skilled workforce and also thus an enabling infrastructure will however take at least 3-4 years in order to turn around the trend, but one is however meant to be optimistic about the sector in 2018 and is then required to the interest of the VCs which is thus in the hardware start-ups space.

Thus , the much awaited unveiling which was of Startup India by the Prime Minister of India has however brought lots of positivity which is among the entrepreneurs in India. The indian entrepreneurs are however elated by the fact that India thus has the third largest number of the start-ups globally. IESA (Indian Electronics and Semiconductor Association) also however applauds the government for the purpose of however being a facilitator in order to build the startup nation. With the Government’s support, thus a startup can however be built in a day which will thus definitely motivate many of the young entrepreneurs in order to turn ideas into the action however thereby increasing the jobs in India

It however also has a hidden agenda which may thus also give fruits in the upcoming years and that is however in order – to create the skilled, well experienced and also the quality entrepreneurs who can however bare the country’s economic growth which however is on their own shoulders and can thus also leave a deep impact of the country’s leading business capabilities and also the potentials in the overseas market which would however be at an international level.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for Section 8 company registration, Nidhi company registration, IEC registration.
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