50% Of Indian Start-ups Die Before Getting Seed Funding: Dr. Sunil Shukla

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The World Entrepreneurs’ Day 2018 and Entrepreneurs India: Gains & Misses Conference was held on 21st August, 2018 at The Leela Palace, New Delhi where expert insight was given about what and what not to do for a sky rocketing start-up. As much as 50% of Indian start-ups cease to exist before they can even generate seed funding, observed the Director, Entrepreneurship Development Institute of India, Dr. Sunil Shukla. “India is witnessing the emergence of new start-ups every day but around 6 out of 10 cease to exist within an year” he added. Speaking at ASSOCHAM’s Entrepreneurs’ India: Gains & Misses Conference & Awards in New Delhi, Dr. Shukla attributed the rapid growth of India as a start-up hub to the conducive policies of the government

The number of start-ups in India is booming and is set to cross the 10000 mark by 2020, we must therefore ensure that sector is nurtured” asserted the Chairman, Northern region, ASSOCHAM – Dr. Lalit Khaitan. Citing a NASSCOM report, he observed that if the present rate of growth continues then the start-ups can create 2.5 lakh jobs over the next 5 years.

Young management students from B-schools were also present at the event. They used the opportunity to learn from the best in the industry and were very inquisitive with their questions to the speakers. The event was also graced by the presence of the Founder, Chairman and MD of the Shahnaz Husain Group – Shahnaz Husain who inspired the gathering with anecdotes from her own life. She urged budding entrepreneurs to never give up and to realize their vision. “Entrepreneurs create their own future”, she asserted. The conference also witnessed the launch of a knowledge paper jointly prepared for the World Entrepreneurs’ Day 2018 by ASSOCHAM and the Entrepreneurship Development Institute of India. This was followed by the felicitation of the finest entrepreneurs in the nation.

The inaugural session was followed by technical sessions and intense discussions on themes such :

  • Role of Technology as an Enabler’ moderated by Editor in Chief, Entrepreneur Media India & Asia Pacific – Ritu Marya and,
  • Availability of Risk Finance and Private Equity for Entrepreneurial Aspirations’ moderated by Founder, Venture Gurukool – Mahendra Swarup.

Prominent dignitaries that participated in the conference included Senior Advisor, Ministry of Skill Development & Entrepreneurship – Sunita Sanghi; Secretary General, ASSOCHAM – D. S. Rawat; Chairman, Signature Global (India) Private Limited – Pradeep Kumar Aggarwal and Chairman & Managing Director, SMC Global Securities Limited – S. C. Aggarwal besides many others.

The agenda was to identify and talk about the various problems encountered by anyone starting their own enterprise, the speakers discussed variably about the problems and the solutions along with the ways to achieve them. They also gave an insight about the top institutions that are ready to set up the ladder and help them to climb from an idea to a million dollar start-up. Post lunch the professionals and attendees discussed about the future prospects and collaboration opportunities.

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