Volume : VII, Issue : II, February - 2017

The Process and Challenges faced by Start�up Companies in India: A Study

Dr. Reeta Sonawat, Ms. Swati Tulshan

Abstract :

 The study investigates the participants’ experiences about the process which was taken while setting up a start–up, and also obtains an understanding of the challenges faced by them. The data has been gathered by conducting in depth interviews with 12 startup owners from the country. This study uses a qualitative research study approach to better understand what the process is and what are the challenges faced in a startup.  It was seen that a start up is a culmination of many procedures, starting from conceiving the idea, to setting up the venture and becoming a part of continuous learning and execution to work towards the envisioned goal of the start up. The results indicated that more than half of the start–ups are technology based .The seed money by start–ups is organized usually through bootstrapping and a majority of the start–ups have not received any governmental help and support. The strengths which start–ups have are a unique selling point and freedom of exploration. The opportunities which start–ups can explore are expanding a customer base and adding to the existing product and customer portfolio. Some weaknesses which the start–ups face and want to encounter are difficulty of resources and inaccuracy in business forecast. The threats which start–ups face are competition and risk of losing confidentiality.

It was seen that the areas of expansion which most start–ups take are geographical, strategic or else pertaining to the product or service itself. The controls which they usually establish are monetary, quality related or else pertaining to employee turnover.   It was found that the start–up owners placed increased importance on Teamwork, patience, accurate documentation and perseverance and held these as important factors for the success of their start–up.

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Dr. Reeta Sonawat, Ms. Swati Tulshan, The Process and Challenges faced by Start�up Companies in India: A Study, INDIAN JOURNAL OF APPLIED RESEARCH : Volume‾7 | Issue‾2 | February‾2017

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