There is a lot of buzz regarding flourishing startup stories in India across the globe. India is now growing as the fastest start-up nation. The emerging technological trends have seen tremendous growth in innovative start-ups. With so many new and innovative start-ups springing up in the past year, India has become the 3rd largest growing hub for technology start-ups in the world. This has made India a global start-up hub and is attracting many investors, start-ups, and corporate. India has had more than 4000 start-ups in recent years and has generated over 8000 jobs for the people. Here are some of the trends that are defining the startup stories in India.
1. Customer-Centric Businesses
The businesses have now become more customer-centric. The marketers are now thinking of newer business strategies to increase the reach of their businesses. The marketing strategies need to be customized to target different age groups, also with the influence of social media, the marketing strategies are designed to deliver personalized experiences to the customers. Thus they are also using CRM software to manage the customer base. That has enabled them to keep the customer records, manage their leads in an efficient manner.
2. Discovering new arenas
The start-up foundations are discovering new sectors for a new foundation. Agri-Tech is a new area where the investors are focusing to invest their money. Agri-Tech is the use of technology in agriculture and is a very promising branch for investors. Developments and advancements in technology will help the farmers to get a better yield. Such new areas are being discovered to invest in and form new businesses.
The employees will be able to work away from the workplace. The traffic, the long distance to work and bad road, bad weather conditions, all the factors affect the productivity of the employees. This is the reason why most of the employees are opting for work from home options, or work from anyplace else. The companies are also formulating new policies and are being even more flexible. This has resulted in better productivity and has also reduced the cost for both the employers and the employees. The businesses are also focusing on the happiness of the employees.
The organizations are showing more empathy and flexibility towards the employees. Some organizations go as far as funding education. Some organizations are also launching workshops that are helping the employees to develop their skill sets. Keeping the employees’ happy means encouraging their education, developing their skill sets, and providing flexibility, which will be a trend in the new startup stories in India.
4. Use of Artificial Intelligence
The use of Artificial Intelligence is enabling businesses to work more efficiently. With the use of AI, organizations are looking for powerful, sophisticated solutions that will help businesses to streamline their operations. This will also increase the productivity of the businesses. Under AI, there is a large canvas of new and different technologies; machine learning, robotics, cognitive computing are some of the uses of AI that are helping businesses to grow and work efficiently. There is a lot of buzz regarding flourishing startup stories in India across the globe.
5. Blockchain implementation
The new startup stories will be seen implementing blockchain technology. Blockchain technology is a decentralized platform, which will revolutionize the way industries work. Thus the implementation of blockchain technology will make the industries even more efficient to manage the data.
6. Internet of Things
The Internet of Things is the extension of internet connectivity into physical devices. The IoT- Internet of Things will provide an alternative solution to the cloud-based systems and will enable device-level automated commerce. The IoT, which will be a trend in the new startup stories in India.
7. Data Monetisation
Data monetization or data analytics is changing the competition in the industries. Many of the executives have reported that data analytics has changed their industry competition at least moderately than before. These are some Trends Defining The Startup stories in India.
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