Slowdown in the economy is arguably the worst thing for any business.
However, if the enterprise in question is a technology start-up, there may be some reasons to take comfort. Hiring is relatively easy in a slowdown. Therefore, in a slowdown, tech start-ups may be best placed to overcome their biggest challenge-hiring good talent.
Microsoft Ventures is a global initiative that provides tools, resources, and expertise enabling entrepreneurs to ideate, build, and grow their start-ups. In June, Microsoft globally consolidated its start-up offerings- Bizspark, accelerator and seed funding under one umbrella entity called Microsoft Ventures. It provides a community evangelism programme, accelerator, and seed fund that works with start-ups worldwide including India.
The tech start-up scene in the country has undergone some fundamental changes which have led to their proliferation during some of the worst slowdown years of Indian and global economy. Between 2006-07 and today, there has been a huge increase in the number of tech start-ups in India.
Around 2006- 07, there were 300- 400 start- ups coming up annually. Today, the number is going up to 1,500 in a year. There are several reasons. If around 2006- 07, it typically took Rs 6lakh- Rs 10 lakh to start a start- up, today this is down to just around Rs 1lakh- Rs 2 lakh.
(As told to Business Today)