“After the announcement of Startup India initiative by the Central Government, the number of startups has rapidly increased in the past seven years. Startups are now emerging from every nook and corner of the country. Today, startups are moving at a fast pace towards becoming the driving force of the Indian economy,” said Vani Kola, Managing Director of Kalaari Capital while speaking at the session on ‘Startups Ecosystem’ at the Khasdaar Audyogik Mahotsav-Advantage Vidarbha organised by Association for Industrial Development (AID) at RTMNU, Jamnalal Bajaj Administrative Building ground on January 27. Kola further said that the Government has recognised the importance of startups for economic development and has initiated various ministries and departments to provide financial, infrastructure and regulatory support to startups.

 

After the announcement of Startup India by the Central Government, the number of startups has rapidly increased in the past seven years. Startups are now emerging from every nook and corner of the country. Entrepreneurs have recognised the need to give concrete form to their innovative resolutions, benefiting from this opportunity. “Startups are no longer limited to big cities,” she said. In the coming decade, startups are expected to be beneficial for smaller cities from a startup perspective. Currently, more than 1,10,000 startups are operating successfully in diverse sectors across India. Kola feels that the startup sector is poised to gain more momentum in future, considering Indian mindset. Varun Alagh, Co-founder and CEO of MamaEarth was also present.

 

He said that the Indian culture, which dates back five thousand years, is known for its rich heritage. Various ancient beauty secrets have been revealed to enhance beauty during these historical traditions. This information is passed down through generations in a systematic manner. “Understanding and leveraging this rich historical tradition for effective branding can lead to the creation of successful products, such as beauty enhancement products like ubtan, face wash which are highly in demand,” he said. Alagh highlighted how he applied this knowledge to establish a strong presence in beauty enhancement sector and provided guidance on the direction and status of startups in this field.