Startups are usually defined as companies and projects that are younger than one year, that don’t earn and only have few employees. There are disagreements over the definition of the term, but we can simplify the matter and say how each project passed the way from startup to business that works. The status loses lost when the project fails and when it can support itself. Few forecasters stated that Indian startups in 2017 will be more optimistic than 2016.
The problem in Indian market is a big number of copycat models, and all those projects, with the exception of few, fell down and disappeared. The idea for success in India cannot be transferred from another country but has to be designed for the Indian market.
What can we expect from Indian Startups in 2017?
Financial technology boost is something that is important for a country with so many users. In order to accelerate their service, they must make platforms for e-banking and payment gateways. It is expected that a number of users will grow, and that is why the new people will try to find the best solution for making the cues with fewer people involved.
The idea of making brands opened the door for new investors to come and see what we are talking about. In India, there aren’t any competitive brands. We can find on the market every kind of fruit, but nothing is packed, served and branded. With this kind of brands, India could make quality export to other countries, which needs it because of their unfertilized terrain. We could expect that few individuals together will try to come up with an option for branding different types of food because the market is expanding, so that gives them a lesser risk for the new business.
More and more Indians are adopting smartphone methods for ease purchase. As we see the rapid implementation on the internet, we could analyze that and agree that phones became the most important part of our lives. Statistically watching there are more than 350 million phone users in India, and that number will rapidly increase. That is a great territory for app developments, new interfaces and online markets and a new way of consuming the technology, and everything around us. We are expecting new prototypes that will relieve and encourage customers to buy more freely, and that process involves new courier firms and a large number of side things that will evolve around this technological boost that Indians are rapidly adopting.
Healthcare will be one of the key focuses in India. Every product and business needs their customers, and health ideas are something that helps and gives people a chance. We could expect to invest in new machines, medical tools, and modern hospitals for various patient profiles.
All we could do is waiting, but before we wait, we must understand what future will bring to us. As we said at the beginning, 2017 is the optimistic year for a new trends for Indian startups, and we can say, without any doubt, that digital economy of India will rise through the 2017 and it will affect different type’s categories in one country. What we are trying to say is that digital technology boost will give a boost to other types of industry like healthcare, food technology, online retail, and many others.