The world seems to be always getting frenzy on something. The bell-bottoms of the 90s gave away to the fast digitization and the scenes changed like never before. The modern world crazy has ranged from selfie-sticks to YOLOs of the young. The neons give away to the browns, keeping the cycle alive and kicking. The latest plucky for the troublemakers of our country has been starting up or Start-ups as it is known in popular culture. The Godfather of startups Steve Jobs must have had deep insight when he quoted the words above – the crazy ones do change the world, one day at a time.
From dhaba.com to findyourdoctor apps, startups are the ‘in’ thing this season. The economy is showing its nerves and with 70% young population, the ‘Make in India’ phrase has attained contrary meanings. With abundance of technical colleges and an ocean of engineering graduates flowing out of colleges, the youth of India is inclining more and more towards starting their own ventures.
After the social media revolution, the society and the Governments have adapted to the new web culture, more or less to their liking. The trying youth of the country now looks at the Change-makers for developing favorable environment for the budding entrepreneurs. Not many States have addressed these needs; even the Central Government has shown but a basket of promises.
One State, though, stands out when it comes to stirring up the Start-up development. With a stringent target of 15 lakh employment opportunities in 5 years, Vasundhara Raje is looking at the entrepreneurial sector like no other. There has been a massive push from the Government towards sectorial skilling of the youth, touching base in villages and small towns as well as in the cities. The skill development methodology aims at thin-lining the gap between Rajasthan’s educated but untrained youth and employment opportunities. The preliminary results show that if this drive goes on with the same zeal, there may be a chance that Rajasthan becomes the ‘Skilling’ hub of India.
With the same energy, the Government has also started working on nurturing the Startup ventures of the State. For the first time, a two-day ‘Rajasthan Startup Fest’ is being organized to promote the spirit of entrepreneurship and encourage startups. The fest will bring together the startups, mentors, investors and corporates from across the nation to pitch for funding, transact business, share experiences, get mentoring and showcase innovations and business models. This sort of ‘celebration for innovation’ may be a regular festivity for entrepreneurs in core tech cities like Pune and Bangalore, but such large-scale exposure from the Government’s end is bound to give hope to Rajasthan’s youth.
There is already a buzz around the industry that J-town may be the next startup hub after the over-exhausted Gurgaon and Bangalore. Some of the start-ups have already established their niche and are either based out of Jaipur or were incubated there. What works in Jaipur’s favor are lesser costs, unexplored talent pool, better quality of life, and proximity to the Delhi NCR. Operational costs could well be half or a third of those in major metros due to lower rentals, lower cost of living and low attrition. Jaipur is also home to many engineering colleges, which ensures a steady flow of talent.
Moreover, Rajasthan is also planning to launch a first ever Startup Policy with the aim of setting up about 500 startups by 2020 in the state. With this new policy, Rajasthan will soon become the first amongst India’s northern states to come out with a policy dedicated to tech startups. The Government of Rajasthan has already allocated an amount of 55 crores to invest in startups over the coming five years. Entrepreneurs could be looking at an assistance of Rs. 10 Lakh in the form of a loan or as equity per startup. Screening of startups will be done by partner organisations such as Indian Institute of Management Ahmedabad’s Centre for Innovation, Incubation & Entrepreneurship.
One hindrance for Rajasthan-based startups has been visibility that directly impacts fundraising and hiring. Initiatives like these could go a long way in helping nurture startups. Every startup’s dream comprises of billion-dollar troughs, path-breaking business model, major brand recognition or all of these. The reality needs them to work hard to make sure their product or service makes it to market. With such skepticism and competition around, the Rajasthan Government’s effort for the Startups is a thing to cherish and applaud for. One can always hope that other States, too, will follow up Rajasthan’s journey towards strengthening the Startup scenario. After all, Make in India has to, someday, become ‘Made in India’.
