Start-up Ecosystem: An Awareness

09th June, 2023 Entrepreneurship Development Cell & Institution’s Innovation Council in association with the Department of Mechanical Engineering organized an expert talk on “Start-up Ecosystem: An Awareness” from 01:30 pm to 04.30 pm. Mr.J.Sangili Muthukumar, AP/Mech, FXEC was the resource person. 40 students from Mechanical engineering and 1 faculty member participated in the program. Dr.R.K.A.Bhalaji, AP/Mech coordinated the program.

The resource person discussed about the concept of start-up and startup ecosystem. He gave a lot of examples for the Indian startups like Paytm, Zomatto, Ola etc. He also explained the story of some of the Unicorn companies like Byju’s, Flipkart, Uber, OYO Rooms etc. While explaining the startup companies the resource person explained the importance of startups in India to accelerate the growth of economic conditions.

He said that start-up India initiative aims to fill gaps in the economy for the growth & development of start-ups and also boost digital entrepreneurship at the grassroots. He envisioned the aim of the initiative to transform India into a start-up nation, ‘A country of job creators instead of job seekers’. Next he revealed the major elements of startups ecosystem such as support organizations, big companies, funding organizations, universities, service provider, research organizations etc. Resources person showed the graphical figure related to start-up India, overview of performance of states, global ranking of Indian startups and also he shared the idea about how to face the challenges in start-ups. Next big question facing startups is funding, he told better ways for funding to develop the start-up in an effective manner. Next he said nowadays startups that are changing the face of virtual reality in India. Additionally, he revealed successful start-up founder in India such as Bhavish Aggarwal (Ola), Vijay Shekhar Sharma (Paytm), Deepinder Goyal (Zomato) etc and also mentioned about top funded startups in India of all time. Finally, he concluded the session with the quote ‘The success of the young entrepreneur will be the key to India’s transformation to the new millennium’ and also said startup India is a flagship initiative of Indian government, intended to build a strong eco-system for nurturing innovation & startups in the country that will drive sustainable economic growth and generate large scale employment opportunities