Innovations in India has lately witnessed a trend that is unprecedented. Never have we witnessed such especially by the entrepreneurs and start-ups community. This is because of the global paradigm shift in the way we communicate, live and consume. Whether it is information, news or content or products that we use for our living has drastically changed. Primary reason for this is the due to the speed at which information is shared. We are actually living the way Alvin Toffler in his book “The Future Shock” had predicted long back.
Till early 20s there was a set traditional way business was being started and operated. Gone are those days as new age way of starting and operating and exiting businesses are described as disruptions, Start-ups, Scale-up etc.. . These in perspective have helped to generate employment too and value creation at a never imagined pace. One thing that has helped to make these businesses shoot higher and faster is Technology. Anywhere and everywhere technology has become necessity and growth enabler and generator to scale up the businesses at faster speed to avoid competitions or to compete better. Today we talk of artificial intelligence, machine learning data science that will shape our new world and has already done so without we even realising that it has. Digital currency has generated humongous value without it being accepted and adopted fully by all. And yet we already have Non-Fungible Tokens (NFTS). Isn’t it just so difficult to keep the pace.
The best part is that these innovations and risks are from 1st generation or real innovators rather than the business house who are sitting on money to fund the risky ideas. Money has just become another resource to start not the necessary a must but what is must is risk taking ability, innovation and disruptive ideas. Number of patents filed in different industries have risen rapidly.
Indian entrepreneurs and have lately cherished the likes of Flipkart, Delivery.com, Nykka, Lenskart in ecommerce and logistics space. All of which have created huge values in their respective domain in a very short span of time and shockingly it came from entrepreneurs that were dreamers like the all are but at a very nascent age. They have learnt to fail and celebrate the same.
We today are witnessing a giant shift in automobile industry with old and new going to electrifying their vehicles with cutting edge technology. This is because in a subtle but a strong way environment has told enough is enough. Sustainability and environment are definitely going to be necessary space for to look forward to. As consumption is increasing and to mitigate the after effects it has to be done in and environment friendly way to help survive as we have seen rapid climate change shift globally. Apart from that health of people has become vulnerable due fast pace, lifestyle changes and technology. We have witnessed the most dreaded of all pandemics till date COVID-19. People have realised the need to balance their lives with work. We always being gregarious animals have realised to consider the value the relationships and preserve it. All these factors are giving ideas to the entrepreneurs to disrupt more and often having start-ups like online mental health, healthy food market places, recyclers and upcycle of waste, zero waste farming etc...
Gone are the days where people use to go out and have family time watching movies in a multiplex forget single screen. OTT has redefined the space with web series and show that are consumed at larger scale and discussed flatly on social platforms.
Opportunity is open to all and not limited to few today. As day by day the world is becoming flatter and flatter and hotter and crowded as rightly said by Thomas Friedman in his books “Hot, flat and crowded” and “ The world is Flat” So I urge all the new and aspiring entrepreneurs to aim to be an angle for the earth and disrupt in Health, Sustainability, renewable energy, farming and environment spaces as that is the need of the hour.