business by young adults on digital platforms_thesis report

8/20/2019 Business by Young Adults on Digital Platforms_thesis Report

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DISSERTATION

Introduction

An organization comes into existence only because of the eorts ut in by an

in!i"i!ual# $ho $oul! be reare! to assume resonsibility of lea!ing the

enterrise $ith him% &or that# the in!i"i!ual must ha"e secial 'uality that is

(no$n as entrereneurshi%

Entrereneurshi as an economic acti"ity emerges an! functions in

sociological an! cultural en"ironment% It coul! be concei"e! as an

in!i"i!ual)s free choice acti"ity or a social grou)s occuation or rofession%

The entrereneurs erform "ital function in economic !e"eloment of a

nation% They ha"e been referre! to as the human agents nee!e! to mobilize

caital# to exloit natural resources# to often !e"elo inno"ati"e ro!ucts or

concets# to create mar(ets an! to carry on business% It may be construe!

that the entrereneurial contribution sells the !ierence bet$een roserity

an! o"erty among nations%

A successful entrereneur is al$ays a$are of the ne$ !e"eloments an!

changes that ta(e lace aroun! him in the society an! is reare! to a!at

to the changing nee!s of the society% *e is the central oint# aroun! $hom all

other factors of ro!uction# ro!ucti"e resources an! techni'ues shall

re"ol"e% *e integrates talent# abilities an! !ri"es to transform the resources

into ro+table "entures%

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DISSERTATION

Stu!ies on entrereneurs ha"e re"eale! that ersonality an! cultural or

social factors are relate! to entrereneurial beha"iour% Traits such as self-

con+!ence# creati"ity# ersistence# calculate! ris( ta(ing caacity#

!etermination# nee! for achie"ement# in!i"i!uality# lea!ershi# "ersatility#

otimism an! li(ing for challenges characterize the entrereneurial erson%

A erson $ho has a business of his o$n is calle! an entrereneur% .ut $hat

!ierentiate an entrereneur from a successful entrereneur are his

achie"ements in the +el! of his business%

The !e+nition of entrereneurshi has been !ebate! among scholars#

e!ucators# researchers# an! olicy ma(ers since the concet $as +rst

establishe! in the early ,/00)s% The term entrereneurshi1 comes from the

&rench "erb entreren!re1 an! the 2erman $or! unternehmen1# both

mean to un!erta(e1%

3eter Druc(er roose! that 4entrereneurshi) is a ractice% 5hat this

means is that entrereneurshi is not a state of being nor is it characterize!

by ma(ing lanes that are not acte! uon% Entrereneurshi begins $ith

action# creation of ne$ organization% This organization may or may not

become self-sustaining an! in fact# may ne"er earn signi+cant re"enues% .ut#

$hen in!i"i!uals create a ne$ organization# they ha"e entere! the

entrereneurshi ara!igm%

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DISSERTATION

Entrereneur is a borro$e! $or! from the &rench language that refers to a

erson $ho un!erta(es an! oerates a ne$ "enture# an! assumes some

accountability for the inherent ris(s% .eing in business or being an

entrereneur is about ta(ing ris(s an! confronting challenges% Entrereneurs

buil! comanies that are seci+cally crafte! to exloit a articular

oortunity% This gi"es them an a!"antage o"er ol!er comanies that $ere

!esigne! in resonse to challenges of the ast an! must change to a!at to

to!ay)s re'uirements% Entrereneurs can buil! ne$ comanies% They can

also re7u"enate existing comanies "ia buyouts an! turnaroun!s% They can

also buil! ne$ comanies insi!e existing comanies# $hich can be calle!

cororate entrereneurshi%

At the heart of entrereneurs) inno"ation an! economic cometiti"eness lie

!igital technologies8 social me!ia# mobile comuting# big !ata# clou!# the

internet of things1 an! the li(e# $hich most entrereneurs ha"e

enthusiastically embrace!% Emerging in the ast +"e years# these

technologies are no$ reaching a critical mass% In the rocess# they are

ha"ing a signi+cant imact on businesses in all in!ustries# as comanies

focus on ne$ $ays they can $ea"e these technologies into the next

generation of their business strategies% 9i(e their big-comany counterarts#

most entrereneurs lan to in"est in !igital to not only imro"e the to line

by seizing substantial ne$ gro$th oortunities# but also ma(e their

rocesses more e:cient an! re!uce their oerating costs; to a large extent#

e"ery young entrereneur is no$ a !igital entrereneur%


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DISSERTATION

EXPECTED CONCLUSION OF THE THESIS

• To exlore the traits of In!ian entrereneurs on the !igital latform

• To !ierentiate successful In!ian entrereneurs from entrereneurs

• To trace the success stories of selecte! successful In!ian entrereneurs

• To i!entify their $inning strategies for success in business

• To summarize the +n!ings of the stu!y an! establishing a bench mar(

for future entrereneurs to be successful on the !igital latform

THE RESEARCH METHODOLOGY

3rimary an! Secon!ary !ata8 Inter"ie$ an! secon!ary sources are to be

referre! in this thesis% Out of the a"ailable entrereneurs in In!ia# a fe$

successful entrereneurs# $ho ha! their in"estment otions from their o$n

sources# $ill be consi!ere! for the stu!y%

.ase! on the hyothesis roose!# the metho!ology chosen is a sur"ey as

$ell as a case stu!y format about their history in !eth an! the factors

!ecihere! as to i!entify their secret of success%

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DISSERTATION

&or reasons best (no$n to be exlaine! in the stu!y# it is !eci!e! that an

exloratory stu!y of the successful entrereneurs may best be un!erta(en

through a content analysis of un!isguise! an! ublishe! cases in the

!escriti"e metho!ology%

A samle of such cases $ill be i!enti+e!# analyze! an! inter"ie$e! $ith a

"ie$ to corroborate the case !ata $ith the inter"ie$ !ata% In all# therefore#

the samle $ill consist of "entures that got $or(ing%

A>?NO59ED2E@ENTS


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DISSERTATION

TA.9E O& >ONTENTS

ABSTRACT.......................................................................................................................................................................1

ACNO!LEDGEMENTS""""""""""""""""""""""""""""""""""""""""""""""#

TABLE OFCONTENTS"""""""""""""""""""""""""""""""""""""""""""""""$

1.INTRODUCTION""""""""""""""""""""""""""""""""""""""""""""""""...%

CHAPTER 1INTRODUCTION""""""""""""""""""""""""""""""""""""""

""""...%

1.1O&ER&IE!""""""""""""""""""""""""""""""""""""""""""""""""""..%

1.'RELE&ANCE OFSTUDY""""""""""""""""""""""""""""""""""""""""""".1'

1.(NEED OF THESTUDY"""""""""""""""""""""""""""""""""""""""""""".1(

1.)SCOPE OF THESTUDY"""""""""""""""""""""""""""""""""""""""""""..1)

1.#METHODOLOGY OF THESTUDY""""""""""""""""""""""""""""""""""""""1#1.$SCOPE AND ORGANISATION OF THE

THESIS"""""""""""""""""""""""""""""""1$

'. LITERATURERE&IE!""""""""""""""""""""""""""""""""""""""""""""..1*

'.1INTRODUCTION""""""""""""""""""""""""""""""""""""""""""""""".1%

'.' CONCEPT OF ENTREPRENEURSHIP+ AN OUTLOO FROM &ARIOUS LITERARY

!ORS""""""..',

'.( YOUTHENTREPRENEURSHIP"""""""""""""""""""""""""""""""""""""""..'-

'.) CLASSIFICATION OF YOUTHENTREPRENEURS"""""""""""""""""""""""""""""..(1

B


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DISSERTATION

'.# YOUTH ENTREPRENEURIALCULTURE"""""""""""""""""""""""""""""""""".('

'.$ NURTURING YOUTHENTREPRENEURS""""""""""""""""""""""""""""""""""()

'.* CHARACTERISTICS OF SUCCESSFUL YOUNGENTREPRENEURS"""""""""""""""""""".(#

'.% ENTREPRENEURIAL SCENERIO ININDIA""""""""""""""""""""""""""""""""".(*

'.- GRO!TH OFENTREPRENEURS""""""""""""""""""""""""""""""""""""""..(%

'.1, GRO!TH OF DIGITALENTREPRENEURS"""""""""""""""""""""""""""""""".(-

'.11 BUSINESS MODELS OF DIGITAL

STARTUPS""""""""""""""""""""""""""""""")1

'.1' FUTURE OUTLOO FOR DIGITAL STARTUP ECOSYSTEM ININDIA""""""""""""""""".))

'.1( REASONS FORSUCCESS"""""""""""""""""""""""""""""""""""""""""".)$

'.1) CHALLENGES FACED BY YOUNGENTREPRENEURS""""""""""""""""""""""""""..)%

'.1# YOUNG ENTREPRENEURS THRI&E ON DIGITAL OPEN

INNO&ATION""""""""""""""""..#,'.1$ INCUBATORSACCELERATORS ENDURE AS &ITAL RESOURCES FOR YOUNGENTREPRENEURS"#)

'.1* ACCESS TO FINANCE FOR YOUNG INNO&ATI&EFIRMS""""""""""""""""""""""""...#*

'.1% STUDY OF NE! DIGITAL INDIAN START/UPS"""""""""""""""""""""""""""""...$,

(. RESEARCH

METHODOLOGY""""""""""""""""""""""""""""""""""""""".111

CHAPTER (+ RESEARCHMETHODOLOGY""""""""""""""""""""""""""""""""".11'

(.1INTRODUCTION""""""""""""""""""""""""""""""""""""""""""""".11'

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DISSERTATION

(.' TYPE OF RESEARCHMETHODOLIGIES""""""""""""""""""""""""""""""""11'

(.( CLASSIFYING DESIGN AND DE&ELOPMENT RESEARCH GOALS / METHOD OFANALYSIS OF THEREPORT""""""""""""""""""""""""""""""""""""""""""

""""""""""11#

(.) THEMATIC APPROACH OF THE RESEARCH AND THE APPROPRIATE APPROACH INTHISPAPER"""""""""""""""""""""""""""""""""""""""""""""""""""""11*

(.# RESEARCHPARADIGM"""""""""""""""""""""""""""""""""""""""""..11-

(.$ DATA COLLECTIONMETHODS"""""""""""""""""""""""""""""""""""""1',

(.* RESEARCHPHILOSOPHY""""""""""""""""""""""""""""""""""""""""1'(

(.% SAMPLING AND SAMPLE POPULATION IN THE PRESENTRESEARCH"""""""""""""""1')

(.- RELIABILITY0 &ALIDITY AND ETHICALCONSIDERATIONS"""""""""""""""""""......1'#

).CONCLUSION""""""""""""""""""""""""""""""""""""""""""""""" 1'$

RESEARCHUESTIONNAIRE"""""""""""""""""""""""""""""""""""""""".1'*

CHAPTER ) FINDINGS ANDANALYSIS"""""""""""""""""""""""""""""""""""1)(

).1 DATA COLLECTED FROM SUR&EY UESTIONNAIREANALYSIS"""""""""""""""""".1*(

).' THE DIGITAL START/UPECOSYSTEM""""""""""""""""""""""""""""""""".1*)

).( THE INDIAN MIDDLE CLASSRISES"""""""""""""""""""""""""""""""""""1*#

).) INDIA2S DEMOGRAPHIC DI&IDEND 3 THE HUGEOPPORTUNITY""""""""""""""""."1*$

).# NASCENT INFRASTRUCTURE GI&ES RISE TOOPPORTUNITY"""""""""""""""""""".1**

C


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DISSERTATION

).$ CHANGING SOCIALOUTLOO"""""""""""""""""""""""""""""""""""""".1%,

).* INDIAN START/UPS GETBOLDER"""""""""""""""""""""""""""""""""""".1%1

).% START/UP INDIAINITIATI&E"""""""""""""""""""""""""""""""""""""""1%(

CHAPTER #ANALYSIS"""""""""""""""""""""""""""""""""""""""""""""1%%


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DISSERTATION

1.1 O&ER&IE!

MEANING OF ENTREPRENEURSHIP

The !e+nition of entrereneurshi has been !ebate! among

scholars#e!ucators# researchers# an! olicy ma(ers since the concet $as

+rst establishe! in the early ,/00)s% The term entrereneurshi1 comes

from the &rench "erb entreren!re1 an! the 2erman $or! unternehmen1#

both mean to un!erta(e1% .ygra"e an! *ofer in,C, !e+ne! the

entrereneurial rocess as 4in"ol"ing all the functions# acti"ities# an! actions

associate! $ith ercei"ing of oortunities an! creation of organizations to

ursue them)% oseh Schumeter intro!uce! the mo!ern !e+nition of

4entrereneurshi) in ,


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DISSERTATION

become selfsustainingan! in fact# may ne"er earn signi+cant re"enues% .ut#

$hen in!i"i!uals create a ne$ organization# they ha"e entere! the

entrereneurshi ara!igm%

Entrereneur is a borro$e! $or! from the &rench language that refers to a

erson $ho un!erta(es an! oerates a ne$ "enture# an! assumes some

accountability for the inherent ris(s% .eing in business or being an

entrereneur is about ta(ing ris(s an! confronting challenges% Entrereneurs

buil! comanies that are seci+cally crafte! to exloit a articular

oortunity% This gi"es them an a!"antage o"er ol!er comanies that $ere

!esigne! in resonse to challenges of the ast an! must change to a!at to

to!ay)s re'uirements% Entrereneurs can buil! ne$ comanies% They can

also re7u"enate existing comanies "ia buyouts an! turnaroun!s% They can

also buil! ne$ comanies insi!e existing comanies# $hich can be calle!

cororate entrereneurshi%

IMPORTANCE OF ENTREPRENEURSHIP

An organization comes into existence only because of the eorts ut in by an

in!i"i!ual# $ho $oul! be reare! to assume resonsibility of lea!ing the

enterrise $ith him% &or that# the in!i"i!ual must ha"e secial 'uality that is

(no$n as entrereneurshi%

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DISSERTATION

Entrereneurshi as an economic acti"ity emerges an! functions in

sociological an! cultural en"ironment% It coul! be concei"e! as an

in!i"i!ual)s free choice acti"ity or a social grou)s occuation or rofession%

The basic concet of entrereneurshi entails an eecti"e an! !eliberate

inner urge to ta(e ris( in terms of uncertainties an! an intuition% In short# an

entrereneur sho$s sagacity to 7um into unteste! $aters an! face the

conse'uences# $ith a strong self-con"iction that he $ill successfully

encounter the shar(s an! befrien! the !olhins%

The common !e+nition for an entrereneur is a erson# $ho organizes#

manages# an! ta(es the ris( of running a business or enterrise% The

entrereneurs erform "ital function in economic !e"eloment of a nation%

They ha"e been referre! to as the human agents nee!e! to mobilize caital#

to exloit natural resources# to often !e"elo inno"ati"e ro!ucts or

concets# to createmar(ets an! to carry on business% It may be construe!

that the entrereneurial contribution sells the !ierence bet$een roserity

an! o"erty among nations%

The imortance of entrereneurs to rogress cannot be more succinctly

exresse! than the statement F no entrereneur# no !e"eloment% The

inacti"ity or scarcity of entrereneurs has for sometimes been the factor

seen by many Asian countries as a ma7or hin!rance to economic

!e"eloment% The a"ailability of abun!ant natural resources# s(ille! an!

uns(ille! labour# an! caital has not ro"en itself su:cient enough to result

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DISSERTATION

in a surge of entrereneurial zeal among the eole% One of the imortant

inuts in any economic !e"eloment of a country is entrereneurshi% @ore

the entrereneurshi acti"ities# better the !e"eloment%

Entrereneurshi is the life bloo! of any economy an! it alies more to a

!e"eloing economy li(e In!ia% The areas of !e"eloment are8

G Ta(ing to higher rate of economic gro$th by creation of "alue%

G See! u the rocess of in!ustrial use of the factors of ro!uction%

G >reation of emloyment oortunities%

G Disersal of economic acti"ities to !ierent sectors of economy an!

i!entifying ne$ a"enues of gro$th%

G De"eloment of bac($ar! an! tribal areas%

G .etter social changes%

G Imro"ement of the stan!ar! of li"ing of !ierent $ea(er sections in the

society%

G .ring socio - olitical change in the society%

G De"elo technological (no$-ho$%

G Imro"e culture of business an! exan! commercial acti"ities%

G Act as a change agent to meet the re'uirements of the changing mar(ets

an! customer references%

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DISSERTATION

G De"elo a culture of achie"ement orientation%

1.' RELE&ANCE OF STUDY

The stu!y of entrereneurshi has rele"ance to!ay# not only because

ithels young entrereneurs better ful+ll their ersonal nee!s but

because of the economic contribution of the ne$ "entures% @ore than

increasing national income by creating ne$ 7obs# entrereneurshi acts

as a ositi"e force in economic gro$th by ser"ing as the bri!ge

bet$een inno"ation an! mar(et lace%

Although go"ernment gi"es great suort to basic an! alie!

research# it has to ha"e great success in translating the technological

inno"ations to ro!ucts or ser"ices% Although intrareneurshi oers a

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DISSERTATION

romise of marriage of those research caabilities an! business s(ills

that one exects from a large cororation# the results ha"e not been

sectacular%

This lea"es the young entrereneur# $ho fre'uently lac(s both

technical an! business s(ills# to ser"e as the ma7or lin( in the rocess

of inno"ation# !e"eloment# an! economic gro$th an! re"italization%

The stu!y of entrereneurshi an! e!ucation of otential young

entrereneurs are essential arts of any attemt to strengthen this lin(

so essential to a country)s economic $ell-being%

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DISSERTATION

1.( NEED FOR THE STUDY

@o!ern In!ia is in nee! of substantial gro$th of the in!ustrial

an!agricultural sectors for her march to$ar!s a global o$er an! to

successfully meet the social obligations such as o"erty alle"iation#

raising stan!ar! of li"ing# an! meaningful emloyment to all% The role

of young In!ian entrereneurs in this asect is highly signi+cant% Houng

In!ian entrereneurs ha"e been instrumental in shaing the !estiny of

millions by ro"i!ing them emloyment in their enterrises# "enturing

into unteste! arena# an! intro!ucing inno"ati"e business strategies%

This naturally !ra$s our attention to in"estigate as to $hy an! ho$

Houng In!ian entrereneurs choose !igital latformsto succee! in their

"entures% The essence of such en'uiry can be use! as benchmar( for

bu!!ing an! asiring entrereneurs%

,B


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DISSERTATION

1.) SCOPE OF THE STUDY

The Houng In!ian entrereneurs selecte! for stu!y are base! on the

con!itionsthat they ha"e starte! their career either as lo$ le"el

emloyees of some organizations or starte! their "enture at a young

age% They are their o$n masters# in the sense that they !i! not ha"e

bac( u from their family members either in the form of +nancial

suort or inheritance of family $ealth% They starte! their o$n

enterrise $ith a humble beginning# an! slo$ly an! stea!ily ic(e! u

their business urely !ue to their entrereneurshi 'ualities% They

face! har!shis in course of their gro$th# but ne"er ga"e u% The

ingenuity an! the sirit of entrereneurshi al$ays (et u their hoes

an! con+!ence an! e"entually ro"e! to be successful young

entrereneurs%

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DISSERTATION

1.# METHODOLOGY OF THE STUDY

3rimary an! Secon!ary !ata8 Inter"ie$ an! secon!ary sources are to

be referre! in this thesis% Out of the a"ailable entrereneurs in In!ia# a

fe$ successful entrereneurs# $ho ha! their in"estment otions from

their o$n sources# $ill be consi!ere! for the stu!y%

.ase! on the hyothesis roose!# the metho!ology chosen is a

sur"ey as $ell as a case stu!y format about their history in !eth an!

the factors !ecihere! as to i!entify their secret of success%

&or reasons best (no$n to be exlaine! in the stu!y# it is !eci!e! that

an exloratory stu!y of the successful entrereneurs may best be

un!erta(en through a content analysis of un!isguise! an! ublishe!

cases in the !escriti"e metho!ology%

A samle of such cases $ill be i!enti+e!# analyze! an! inter"ie$e!

$ith a "ie$ to corroborate the case !ata $ith the inter"ie$ !ata% In all#

therefore# the samle $ill consist of "entures that got $or(ing%

,C


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DISSERTATION

1.$ SCOPE AND ORGANISATION OF THE THESIS

&or reasons best (no$n to be exlaine! in the ensuing chaters# it

$as!eci!e! that this exloratory stu!y of the successful young

entrereneurs may best be un!erta(en through a content analysis of

un!isguise! an! ublishe! cases in the !escriti"e metho!ology% A

total of +fty such cases $ere i!enti+e! an! analyze!%

In all# therefore# the samles consiste! of aroun! hun!re! "entures got

re!uce! to +fty% The +n!ings of the stu!y an! the re"ie$ of the

rele"ant literature are arrange! in four chaters% It may be note! that

in resenting the +n!ings# I ha"e !e"iate! slightly from the con"ention

of summarizing all the research literature on the toic in one chater#

an! ha"e srea! them o"er !ierent categories# !een!ing on the sub-

toics to $hich the +n!ings !iscusse! in the resecti"e chaters are

relate!%

The secon! chater comrehensi"ely re"ie$s the literature relate! to

this

stu!y% >hater III exlains the metho!ology $hich is a combination of

the case

,


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DISSERTATION

metho! an! the sur"ey metho! oularly (no$n as the case sur"ey

metho!J%

>hater IK# narrates the rocess of i!entifying successful young

entrereneurs $ith their entrereneurial heuristics an! thumb rules so

i!enti+e!

$ith +n!ings an! conclusions%

60


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DISSERTATION

6,


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DISSERTATION

LITERATURE RE&IE!

CHAPTER '+ LITERATURE

RE&IE!

'.1 Introduction

The (eyrationale of this section is to focus on the theoretical bac(groun! of

the toic of current exosition% The chater e"aluates in its o$n systematic

$ays the accessible an! existing literary $or(s $hich ha"e been alrea!y

!one by re"ious authors in the same +el! an! in this rocess ha"e

contribute! some signi+cant hyothesis an! theories relate! to the same%

The literature re"ie$ hol!s imortance in a !issertation because it hels the

rea!ers to un!erstan! the interconnecte! concets of the in"estigation an!

to lin( the !ata $ith the theories exlaine! here$ith% This chater $ill

elaborate both the theories relate! to thetraits of successful young

entrereneurs an! there contribution on the !igital latforms%

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DISSERTATION

'.' CONCEPT OF ENTREPRENEURSHIP+ AN OUTLOO FROM

&ARIOUS LITERARY !ORS

INTRODUCTION

Se"eral stu!ies ha"e been ma!e in In!ia an! abroa! on seci+c

asects of

the +el! of entrereneurshi% The researcher is intereste! in resenting

here a

fe$ stu!ies from In!ia an! abroa! rele"ant to the ob7ecti"es of the

resent stu!y#

namely# to i!entify the success factors behin! the successful young

In!ian entrereneurs on !igital latform%

RE&IE! OF RELATED STUDIES

%S% Saini an! .%S% Rathore 600,J in their boo( title! Entrereneurshi8

Theory an! 3ractice# !eal $ith entrereneurial hilosohy# $here the success

of

young entrereneurs has been !iscusse!% Accor!ing to the authors# success

of an entrereneur !een!s on the entrereneur)s $illingness to hol!

resonsibility for his o$n $or(% Though the ris( of failure is al$ays resent#

he ta(es ris(s by assuming resonsibility for his actions% 9earning from ast

exeriences $ill hel channel his actions to obtain better results an!

ersistent eorts $ill yiel! success for sure%

6


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DISSERTATION

.holanathDutta 600J in his boo(# Entrereneurshi @anagement8

Texts L>ases# !eals in !etail on the factors inMuencing entrereneurshi#

"iz%# e!ucation# legality# infrastructure# +nance# roce!ures# IT an!

communication# rai! changes# size of the +rm# R L D an! technology#

sta(ehol!ers an!globalization% The author has eluci!ate! the characteristics

of a successful young entrereneur at length% Accor!ing to him# there are

many critical factors contributing success such as s(ills# inno"ati"e min!#

ro"i!ing comleteness to

the factors of ro!uction# !ecision ma(ing# creati"e ersonality# lan

ma(ing#!ynamic lea!ershi# creator of $ealth# self-con+!ence an!

ambitiousness# ris( bearing# an! a!"enturous min!%

S%S%?han(a 600J in his boo( Entrereneurshi De"eloment illustrates the

ersonal characteristics of successful young entrereneurs as har! $or(#

!esire for high achie"ement# high otimism# in!een!ence# foresight# goo!

orgainising caacity# an! inno"ati"eness% Accor!ing to the author# success of

a small enterrise is# to a great extent# attribute! to the success of the

entrereneur himself%

@ary ?ay >oelan! 60,0J in her article# Strategies of a Successful

Entrereneur8 Nature or Nurture# in @.A Re"ie$# has !eliberate! on the

characteristics of a successful young entrereneur% Accor!ing to the author#

6=


26/212

DISSERTATION

the beha"iours an! ersonality characteristics that lea!ing researchers ha"e

foun! in eecti"e an! successful entrereneurs are F self- con+!ence# ris(

ta(ing caacity# !iscerning o$er# in'uisiti"eness# tolerance of ambiguity

an! uncertainty# creati"eness# resourcefulness# a:nity for autonomy an!

control# oortunism# otimism# action-oriente!ness# intuiti"eness#

ersuasion# a!atation# resilience# tenacity an! courage%

Translating these attributes into beha"iours is belie"e! to increase

youngentrereneur)s eecti"eness% These inclu!e F total commitment#

!etermination an! erse"erance# !ri"e to achie"e an! gro$# orientation to

goals an!oortunities# ta(ing initiati"e an! ersonal resonsibility# "eri!ical

a$areness an! a sense of humour# see(ing an! using fee!bac(# internal

locus of control# tolerance of ambiguity# stress an! uncertainty# calculati"e

ris( ta(ing an! ris(

sharing# lo$ nee! for status an! o$er# integrity an! reliability# !ecisi"eness#

urgency an! atience# learning from failure# team buil!er an! hero ma(er%

@ahimaRai 60,0J in her article# *orning Entrereneurial S(ills8 Role of .

Schools# in @.A Re"ie$# enumerates the characteristics of a successfulHoung

entrereneur F self con+!ence an! otimism# extra-or!inary energy an!

!iligence# ability to ta(e calculate! ris(s# strong urge to achie"e an!

creati"ity# ability to reson! ositi"ely to challenges# lea!ershi 'ualities#

Mexibility an! a!atability# resonsi"e to suggestionscriticism# initiati"e#

resourcefulness an!

6


27/212

DISSERTATION

erse"erance# in!een!ent min!e! $ith ability to get along $ell $ith others#

ercetion an! foresight# "ersatile (no$le!ge of the mar(et# go"ernment

rules etc% The common threa! in all entrereneurial "entures is that the

lea!ers !ri"ing these organizations ha"e the ability to i!entify oortunity

an! create an organization to carry it through the creation of "alue for them%

Su7atha @u(her7ee 60,0J in her article# 3ro+ling the rban 5omen @icro-

entrereneurs in In!ia# in the ournal of Entrereneurshi De"eloment#

!ra$s the icture of an entrereneur as aJ a erson $ho assumes the ris(

associate! $ith uncertainty bJ an a!"enturer $ho un!erta(es ris(s# brings

together the caital an! labour re'uire! for the $or( cJ an inno"ator !J a

!ecision ma(er eJ an economic lea!er fJ a manager or a suerinten!ent gJ

an organizer an! coor!inator of economic resources hJ an o$ner iJ a

contractor 7J areferee an! (J a locator of resources for alternati"e uses%

Accor!ing to the author# being entrereneurial in"ol"es combining ersonal

characteristics an! +nancial means an! resources $ithin an en"ironment to

set u a business%

9a(shman 3rasa! an! Subhasish Das 600CJ in their boo( Entrereneurial

>limate8 An Assorte! >o"erage ma(e an intensi"e stu!y on entrereneurshi

in"ol"ing sychological as $ell as socio-cultural milieu# "ie$ing young

entrereneurs as inno"ators% The integrate! beha"ioural frame$or(#

suggests the ooling of traits such as achie"ement orientation# strategic

6B


28/212

DISSERTATION

"ision# ersonal resourcefulness# inno"ati"eness an! oortunity see(ing at

high intensities in non-restricti"e en"ironment to gi"e rise to an enterrise%

Dr% A% 3eter 600=J in his boo( Houth Entrereneurshi E"ery$here exlains

youth entrereneurshi as a rocess of turning i!eas into oortunities an!

oortunities into successful businesses through the ractical alication of

one-to-one mentoring mo!el# entrereneurshi a$areness-buil!ing s(ills#

ersonal emo$erment s(ills# entrereneurialenterrise s(ills# business

lanning s(ills# business management s(ills# suort ser"ices a"ailing s(ills

an! business imro"ement s(ills%

The author substantiates through the examle of a gro$ing chil! that

enormous entrereneurial otentials are hi!!en insi!e e"ery youth% The

hi!!en treasures are the entrereneurial otentials hi!!en insi!e e"ery

youth $aiting to be utilize!% The author says that $e are all entrereneurial

in nature# because e"eryone has been born $ith many entrereneurial s(ills

such as courage# creati"eness# initiati"e# self-con+!ence# self-moti"ation#

ris(-ta(ing# failuremanaging# ersistence etc%

R% Nagen!ran# Dr% ?% .anumathy an! Dr% N%R%K%3rabhu 6006J in theirboo(

Entrereneurshi @anagement an! De"eloment of Small .usinessexlain

the characteristics of successful entrereneurs% A successfulentrereneur is

al$ays a$are of the ne$ !e"eloments an! change that ta(elace aroun!

him in the society an! is reare! to a!at to the changing nee!s ofthe

society% *e is the i"ot aroun! $hich all other factor of ro!uction#ro!ucti"e

6/


29/212

DISSERTATION

resources# an! techni'ues shoul! re"ol"e% *e combines talents#abilities an!

!ri"e to transform the resources into ro+table un!erta(ings%

Accor!ing to the authors# stu!ies on entrereneur ha"e re"eale!

thatersonality an! cultural or social factors are relate! to entrereneurial

beha"iour%>ross cultural stu!ies co"ering In!ia# aan# 2uinea# @alaysia#

@exico#3hiliines an! In!onesia in!icate that traits such as self- con+!ence#

creati"ity#ersistence# calculate! ris( ta(ing caacity# !etermination# nee!

for

achie"ement# initiati"e ta(ing Mexibility# in!i"i!uality# lea!ershi#

"ersatility#otimism an! li(ing for challenge# characterize the entrereneurial

erson%

Robert D% *isrich# @ichael 3% 3eters an! Dean A% Sheher! 600/J in their

boo( on Entrereneurshi ha"e i!enti+e! a fe$ caabilities or ersonal

characteristics that young entrereneurs shoul! ossess% Accor!ing to him#

the young entrereneurs shoul! ha"e a!e'uate commitment# moti"ation an!

s(ills to start an! buil! a business% The entrereneurs must !etermine if the

management team has the necessary comlementary s(ills to succee!%

Some (ey characteristics of a successful young entrereneur are8 aJ

@oti"ator F an entrereneur must buil! a team# (ee it moti"ate! an!

ro"i!e an en"ironment for in!i"i!ual gro$th an! career!e"eloment% bJ

Self-con+!ence F entrereneurs must ha"e belief in themsel"es an! the

ability to achie"e their goals% cJ 9ong-term in"ol"ement F an entrereneur

6C


30/212

DISSERTATION

must be committe! to the ro7ect $ith a time horizon of +"e to se"en years%

!J *igh energy le"el F success of an entrereneur !eman!s the ability to

$or( long hours for sustaine! erio!s of time% eJ 3ersistent roblem sol"er F

he must ha"e an intense !esire to comlete a tas( or sol"e a roblem#

creati"ity is an essential ingre!ient% fJ Initiati"e F he must be able to set

challenging but realistic goals% gJ @o!erate ris( ta(er an! learn from failures%

These ersonal traits go a long $ay in ma(ing an entrereneur successful%

*o$e"er# no entrereneur ossesses total strength% In such cases# he

ac'uires an!or associates an! thus strengthens his enterrise%

Accor!ing to ames % .erna# a young entrereneur besi!es ossessing

functional 'ualities must also ossess a broa! ersonality $hich hels in

!e"eloing initiati"e an! !ri"e to accomlish great tas(s an! face challenges

s'uarely% The author has stresse! the follo$ing 'ualities of a goo!

entrereneur8

,% *e is an enterrising in!i"i!ual# is energetic# har!$or(ing# resourceful#

a$are of ne$ oortunities an! able to a!7ust himself to changing con!itions

$ith ease an! $illingness to assume ris(s in"ol"e! in change%

6% *e is intereste! in an a!"ancing technology an! in imro"ing the 'uality

of his ro!uct or ser"ice%


31/212

DISSERTATION

% *e is a +rm belie"er in lanning an! systematic $or(%

B% *e $or(s for the society at large an! for the goo! of his fello$-beings%

The abo"e 'ualities sum u# $hat is usually imlie! from the hrase# the

sirit of enterrise1% It is !i:cult to concei"ers of a +rst-rate in!ustrial

entrereneur $ho is not a!atable to change# anxious to gro$ large an!

imro"e technologically% Entrereneurshi aears as a ersonal 'uality

$hich enables certain in!i"i!uals to ma(e !ecision $ith far-reaching

conse'uences% The

ersonal 'ualities that contribute to the success of an entrereneur are

moti"ation to$ar!s achie"ement# creati"ity an! clarity among others%

Houng o$ner-entrereneurs exercise erse"ering attention# clear thin(ing

an! goo! 7u!gement in !ealing $ith !ay-to-!ay oerations% They ha"e

interest an! (no$le!ge in ractical business matters# an! o$er to gras

an! sort out roblems% They are a!et in coing $ith !i:cult situations an!

!ealing $ith all sorts of eole% @ost entrereneurs ossess soun! health#

!ynamic lea!ershi# emotional stability an! organizing ability% Abo"e all# the

note$orthy tyical

ersonality traits commonly ossesse! by the "ast ma7ority of entrereneurs

inclu!e shar intelligence# (eenness of ercetion in ractical business

matters# otimism# !etermination# high le"el energy# ersuasi"eness# single-

min!e!ness an! har! $or(%


32/212

DISSERTATION

Da"i! >% @c>lellan!# ,B,J in The Achie"ing Society# in the boo( by S%.%

Sri"asta"a# has ointe! out that young successful entrereneurs are

characterize! by aJ an unusual creati"eness bJ a roensity of ris(-ta(ing cJ

a strong nee! for achie"ement% An entrereneur ossesses the follo$ing

attributes8

,% 9i(es to ta(e ersonal resonsibility

6% 9i(es to ta(e mo!erate ris(s


33/212

DISSERTATION

Dr% .ha$na.hatnagar an! An(ur.u!hira7a 600J 'uote Kasant Desai $ho

has !e+ne! the mo!ern young entrereneur% Accor!ing to Kasant Desai# the

entrereneur brings in o"erall change through inno"ation for the maximum

social goo!% *uman "alues remain sacre! an! insire him to ser"e the

society% *e has +rm belief in social betterment an! he carries out his

resonsibility $ith con"iction% In the rocess# he accelerates ersonal#

economic as $ell as human !e"eloment% The entrereneur is a "isionary

an! integrate! man $ith outstan!ing lea!ershi 'ualities% 5ith a !esire to

excel# the entrereneur gi"es to riority to research an! !e"eloment% *e

al$ays $or(s for the $ell-being ofthe society% @ore imortantly#

entrereneurial acti"ities encomass all +el!ssectors an! foster a sirit of

enterrises for the $elfare of man(in!%1

.ase! on the abo"e !e+nition# $e can conclu!e that a mo!ern young

entrereneur tries to (ee himself u!ate! by $ay of e"aluating ne$

situations an! analyzing his en"ironment to exlore ne$ rosects# ta(es ris(

an! then arranges for necessary resources to start his enterrise%


34/212

DISSERTATION

6%ountries are beginning to sho$ !etermination to mo"e from the

ol! age monarchies an! !ictatorial regimes to$ar!s !emocracy%

3rogress an! challenges go han! in han!% One of the ma7or challenges face!

by most of the countries in the $orl! to!ay is to !o $ith Houth

unemloyment% The o"erall unemloyment rate is gro$ing at an alarming

see!% Amongst the unemloye!# the unemloyment of youth seems to be

alarming% The current global youth oulation is estimate! to be at ,% billion

of $hich B60 million are emloyable an! ninety ercent of this oulation

li"e in !e"eloing countries% >ountries li(e In!ia an! >hina ha"e a fast


35/212

DISSERTATION

increasing youth oulation an! the rate of unemloyment too is rising

rai!ly% As er I9O)s re!iction aroximately BB0 million youth $ill be

see(ing emloyment by 60,% The youth unemloyment is higher measuring

u to 0-B0P in Asia%

The abo"e +gures stan! to re"eal the fact that 2lobal youth unemloyment

coul! boomerang to become a global crises causing social an! economical

imact on all countries besi!es ushing the economies an! rogress

bac($ar!% Though e"ery go"ernment as $ell as 5orl! Organisations !o

frame olicies an! romote schemes as $ell as fun!s to romote youth

emloyment rograms# the 'uantum of such eort is negligible $hen

comare! to the huge numbers%

Go45rn65nt7 8r5 9ocu775d on :oo;in< 8t 9r865=or; 8nd 7tr8t5o?7 8nd incr587in< 56@:o65nt r8t57% *o$e"er there

is an urgent nee! for the olicy ma(ers to loo( seci+cally at the Houth

unemloyment an! relate! issues% In 7o65 o9 t5 countri57 out

5ntr5@r5n5ur7i@ i7 ?5in< r5co


36/212

DISSERTATION

3age an! many more% There are similar such stories in other countries too%

*o$e"er# the nee! of the !ay is to create many more stars an! ma(e

a"ailable the oortunities for e"ery youth to !ream big an! try their han!s

at entrereneurshi%

Yout 5ntr5@r5n5ur7i@ 87 8n i6@8ct on 7oci8: 87 =5:: 87 cu:tur8:

8nd 5cono6ic @ro


37/212

DISSERTATION

economy esecially in un!er!e"eloe! countries% The a!atation is mainly

!ue to suit the local con!itions% They bring in!ustries to the oorer countries%

The thir! tye is &abian entrereneur% .y nature these entrereneurs are shy

an! lazy% They follo$ the set roce!ures# customs# tra!itions an! religions%

They !o not "enture to ta(e ris(s% sually they are secon! generation

entrereneurs in a business family enterrise%

The fourth tye is Drone entrereneurs $ho refuse to coy or use

oortunities that come on their $ay% They are con"entional in their

aroach an! stic( to their set ractices# ro!ucts# ro!uction metho!s an!

i!eas% They may be terme! laggar!s% In such cases the organization loses

mar(et an! may be ushe! out of the mar(et%

Furt5r C:877ic8tion7 o9 Yout Entr5@r5n5ur7

Entrereneurshi is an outcome of a lot of factors inclu!ing "alues# beliefs#

attitu!es# innate sirit# inborn lea!ershi# an! inMuence of en"ironment#

family# s(ills an! many more% Therefore categorization of Houth

Entrereneurs can also be classi+e! into se"eral tyes base! on "arious

factors% Some of the classi+cations ha"e been arri"e! at base! on the tye of

business# base! on technology# base! on geograhy QRural L rban# as er

2en!er# scale of oerations etc% .usiness entrereneurshi $hich is one of


38/212

DISSERTATION

the signi+cant an! !ominant categories can be further sub !i"i!e! into

.usiness# Tra!ing# In!ustrial# >ororate# Agriculture# Retail# Ser"ice an!

Social Entrereneurs%

'.# YOUTH ENTREPRENEURIAL CULTURE

>reating an! buil!ing a Houth Entrereneurial culture in the society is !one

by t$o ronge! strategy% The +rst an! foremost latform for buil!ing the

a$areness an! initiating the Houth into the concet of Houth

Entrereneurshi is !one by in"esting into Entrereneurshi E!ucation% This

in"ol"es creating an! inclu!ing Entrereneurial an! @anagement stu!ies at

all le"els of e!ucation% The action lan in this section inclu!es buil!ing the

content an! syllabus an! ma(ing it a"ailable to the teaching communities#

training the teachers an! counsellors to become Entrereneurial e!ucators

an! ro"i!ing them $ith the infrastructure an! facilities re'uire!%

One of the most signi+cant asects of Enterrise e!ucation is to in"ol"e

in!ustry an! business organisations into the Houth Entrereneurshi

rograms at >ollege le"el so as to ro"i!e an oortunity for the Houth to get

han!s on exerience an! increase their a$areness of the business an!

economic en"ironment%

Succ5779u: Entr5@r5n5ur Ro:5 Mod5:7 / T5 B57t Yout

Entr5@r5n5ur7i@ A6?8778dor7


39/212

DISSERTATION

Theory has it that a signi+cant art of learning in an in!i"i!ual haens

through role mo!els% It is a fact that e"ery youth or in!i"i!ual gro$s u

ha"ing one or more role mo!els $ho they try to emulate in all resects%

uite a fe$ "alues# thin(ing atterns# attitu!es etc are imbibe! by the

in!i"i!uals base! on their role mo!el)s ersonality an! character% Therefore

engaging successful youth an! a!ult entrereneurs as Houth

Entrereneurshi ambassa!ors is one of the best strategies to moti"ate an!

buil! Houth Entrereneurshi culture amongst the youth% 5hen a Houng

Entrereneur recei"es a re$ar!# his success story gets to be (no$n to

e"eryone% Seeing someone ta(ing u entrereneurshi an! going on to

become a successful entrereneur !oes ma(e other asirants more con+!ent

of trying his or her han! at starting on their o$n% Success al$ays romts

eole to ta(e ris(s an! hel the families an! society accet the i!ea of

encouraging the youth to ta(e u entrereneurial "entures%

Engaging the in!ustry an! the successful business entrereneurs in

a!!ressing the youth# romoting Houth Entrereneurshi# interacting $ith

Houth at schools# colleges as $ell as all other latforms can aecti"ely an!

collecti"ely buil! an en"ironment that is con!uci"e to gro$th an!

!e"eloment through Houth Entrereneurshi%

'.$ NURTURING YOUTH ENTREPRENEURS


40/212

DISSERTATION

Nurturing Houth Entrereneurs can be highly bene+cial for the society#

economy as $ell as for the rogress of the nation besi!es the in!i"i!ual)s

self-!e"eloment an! achie"ement too% In the current times $here the

nations are transitioning through tough times an! a!ating to globalisation#

the hoe for the youth lies more in becoming 7ob creators rather than 7ob

see(ers% 3romoting Houth Entrereneurshi hels sol"e a lot of roblems in

the society too by ensuring that the marginalise! youth is brought to the

main stream through ro"i!ing them $ith self emloyment oortunities%

In!ia has recognise! this fact an! is ro"i!ing some focus an! thought into

buil!ing rograms con!uci"e for Houth Entrereneurshi an! ro"i!ing the

right en"ironment for Houth Entrereneurshi to e"ol"e% *o$e"er nurturing

Houth Entrereneurshi calls for a strategic lan at national le"els% 3lanning

to romoting Houth Entrereneurshi has got to be a multi ronge! strategy

of buil!ing a$areness# ro"i!ing role mo!els# encouraging entrereneurial

culture# intro!ucing Entrereneurial !e"elomental rogrammes at school

an! college le"els as $ell as ro"i!ing for olicy frame$or( an! mentorshi

to encourage Houth Entrereneurshi an! start-u businesses etc% Houth

Entrereneurshi buil!ing rogram calls for long term aroach along $ith

short term action lans too%

Introducin< Yout Entr5@r5n5ur7i@ 8=8r5n577 ?ui:din< @ro


41/212

DISSERTATION

?5co6in< 75:9 56@:o5d 5ntr5@r5n5ur7. The a$areness buil!ing

rogram shoul! intro!uce them to Entrereneurshi as an otion of buil!ing

their carrier# ro"i!e an un!erstan!ing of business oortunities# intro!uce

concet of business# business economics# s(ills an! abilities re'uire! for

managing an! gro$ing a business# $hat are the ersonal s(ills an!

lea!ershi 'ualities they nee! to !e"elo to be successful entrereneurs etc%

Once they ha"e an i!ea of the oortunities that are a"ailable to them an!

they get a general i!ea of ho$ to go about in a business en"ironment# it is

li(ely that the hi!!en otential amongst the Houth $ill start getting a chance

to exress itself an! they start !reaming of becoming entrereneurs# in

$hich case they are li(ely to chart out their ath for future stu!ies that $ill

hel them e'ui themsel"es to becoming goo! entrereneurs an! business

managers%

'.* CHARACTERISTICS OF SUCCESSFUL YOUNG

ENTREPRENEURS

Entrereneur is a human being# $ho concei"es in his min! an in!ustrial

enterrise% &or this urose he ro"i!es consi!erable eorts for fructifying

his !ream% It is a uroseful enetrating action for initiating# romoting an!

managing the economic acti"ity or acti"ities for the ro!uction an!

!istribution

of $ealth% There shoul! be a erson $ith a min!# heart an! intention to

combine them all an! con"ert them into ro!uction or creation of goo!s an!

=0


42/212

DISSERTATION

ser"ices $ante! by the eole% It is the entrereneur $ho has to come

for$ar! to execute these acti"ities relate! to ro!uction $ith the sole

urose of satisfying the customer%

A successful young entrereneur is al$ays a$are of the ne$ !e"eloments

an! changes that ta(e lace aroun! him in the society an! is reare! to

a!at to the changing nee!s of the society% *e is the central oint# aroun!

$hom all other factors of ro!uction# ro!ucti"e resources an! techni'ues

shall re"ol"e% *e integrates talent# abilities an! !ri"es to transform the

resources into ro+table "entures%

Stu!ies on young entrereneurs ha"e re"eale! that ersonality an! cultural

or social factors are relate! to entrereneurial beha"ior% Traits such as self-

con+!ence# creati"ity# ersistence# calculate! ris( ta(ing caacity#

!etermination# nee! for achie"ement# in!i"i!uality# lea!ershi# "ersatility#

otimism an! li(ing for challenges characterize the entrereneurial erson%

A erson $ho has a business of his o$n is calle! an entrereneur% .ut $hat

!ierentiate an entrereneur from a successful entrereneur is his

achie"ements in the +el! of his business%

=,


43/212

DISSERTATION

'.% ENTREPRENEURIAL SCENERIO IN INDIA

During ost in!een!ence era# entrereneurshi has begun to gro$ faster%

The 2o"ernment of In!ia has selt through in!ustrial olicy statements stes

for rai! an! balance! in!ustrialization of the country% The go"ernment

recognizes the "ital role of the ri"ate sector in accelerating in!ustrial

!e"eloment

esecially after the economic liberalization in ,,%

The go"ernment ursues the follo$ing ob7ecti"es8

G To maintain a roer !istribution of economic o$er bet$een ublic an!

ri"ate sectors%

G To !isseminate the entrereneurial acumen concentrate! in a fe$ !ominant

communities to a large number of in!ustrially otential eole of "arie!

social strata%

G To encourage the sirit of in!ustrialization by srea!ing entrereneurshi

from the existing centres to other cities# to$ns an! "illages%

G To achie"e the abo"e ob7ecti"es the go"ernment has !eci!e! to encourage

the !e"eloment of small scale units% It ro"i!es "arious incenti"es an!

concessions to SSI in the form of caital# technical (no$ ho$# mar(ets an!

lan! to establish in!ustrial units articularly in the bac($ar! areas of the

country%

=6


44/212

DISSERTATION

'.- GRO!TH OF ENTREPRENEURS

The business history of In!ia comes out $ith names of successful

entrereneurs such as Tata# .irla# @o!i# Dalmia# ?irlos(ar an! others $ho

starte! their enterrises in a small $ay an! ma!e a goo! fortune% 3ost

liberalization $e ha"e $itnesse! the latest generation of entrereneurs such

as Ambani# Ruia# Azim3rem7i# @urthy# Si"a Na!ar# etc%

Scanning their ersonal characteristics sho$ certain rominent traits8

• 5illingness to $or( har! an! to erse"ere e"en if the business is in the

"erge of failure• *a"ing a strong !esire to achie"e high goals in business

• n!ying otimism for a future an! not !isturbe! by others an! follo$

their o$n route

• In!een!ent an! not gui!e! by the current roblems besieging them• 2oo! foresight to "isualize the li(ely changes in the business an!

ta(ing timely actions accor!ingly• Ability to bring together all the resources re'uire! for starting the

enterrise• Initiating research an! inno"ati"e acti"ities to cater to changing nee!s

of customers

'.1, GRO!TH OF DIGITAL ENTREPRENEURS

At the heart of entrereneurs) inno"ation an! economic cometiti"eness lie

!igital technologies8 social me!ia# mobile comuting# big !ata# clou!# the

=


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DISSERTATION

internet of things1 an! the li(e# $hich most entrereneurs ha"e

enthusiastically embrace!% Emerging in the ast +"e years# these

technologies are no$ reaching a critical mass% In the rocess# they are

ha"ing a signi+cant imact on businesses in all in!ustries# as comanies

focus on ne$ $ays they can $ea"e these technologies into the next

generation of their business strategies% 9i(e their big-comany counterarts#

most entrereneurs lan to in"est in !igital to not only imro"e the to line

by seizing substantial ne$ gro$th oortunities# but also ma(e their

rocesses more e:cient an! re!uce their oerating costs; to 8 :8rhina an! SA in terms of number of Internet users;

E-commerce in countries li(e >hina an! SA has cloc(e! an annual sales of

==


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DISSERTATION

about ,0 billion SD% In!ia is still in the infancy stage $ith only P of its

internet users shoing online% Accor!ing to one stu!y# In!ia e-commerce is

execte! to gro$ form ,0 billion SD currently to =< billion SD in the next

+"e years% This resents a huge oortunity for current layers an! ne$

entrants% &oreign in"estors are in"esting hea"ily in In!ian online layers

realizing the huge gro$th otential%

&or the last +fteen years# In!ia has been un!ergoing a technology re"olution%

In!ia is alrea!y one of the lea!ing !estinations for organizations in countries

li(e SA an! the E nations for un!erta(ing IT ro7ects% In a recent sur"ey#

C0P of S an! Euroean +rms ran(e! In!ia as their number one outsourcing

!estination% The main !ri"ers for these are F English-sea(ing an!

immensely talente! $or(force# abun!ant suly of s(ille! labor at "ery

cometiti"e $ages an! fa"orable ro-IT go"ernment olicies% The 2D3 of

In!ia has gro$n by about /%6 ercent >A2R o"er the last ,0 years e"en $hen

the global economy $itnesse! one of the $orst recessions in 600C% This has

le! to rising !isosable incomes an! a gro$ing roortion of mi!!le class

househol!s%

=


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DISSERTATION

The 2D3 gro$th coule! $ith fe$ other signi+cant reasons ro"i!e an

exciting groun! for !igital businesses to Mourish% &irstly# the Internet an!

@obile enetration in In!ia has gro$n henomenally o"er the ast years%

At resent# 6=< million In!ians ,%, P of total oulationJ ha"e an access

to Internet an! this +gure is estimate! to increase to ash on Deli"ery mo!el by E-

commerce comanies# among others# ha"e le! exciting re"enue gro$th for

!igital businesses%

'.11 BUSINESS MODELS OF DIGITAL STARTUPS

Fo::o=in< 8r5 t5 @ri68r ?u7in577 6od5:7 9o::o=5d ? on:in5

7t8rtu@7 in Indi8 3

=B


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DISSERTATION

On:in5 M8r;5t@:8c57

In this mo!el# the $ebsite acts as a meeting oint for the sellers an! buyers%

Since go"ernment regulations !o not allo$ for in"entory base! multi-bran!

online retailing# this is the referre! mo!e for $ebsites li(e &li(art# @yntra#

an! Amazon% A number of suliers list themsel"es $ith the online $ebsite

an! sell ro!ucts% The online interme!iary may get a small commission for

each transaction% The "arious a!"antages oere! to sellers an! buyers in

this mo!el are-

• !id5r r58c 9or 7u@@:i5r78 Since# E-commerce $ebsites can be

accesse! from any$here# suliers can reach otential customers in

!ierent geograhies% &or examle# han!icraft ma(ers from Dhara"i

slum in @umbai ha"e seen a signi+cant boost in sales after they tie!

u $ith e-bay to sell their ro!ucts%

• @ore choices for consumers8 >onsumers can comare rices for a

articular ro!uct an! ma(e an informe! !ecision% This lea!s to

healthy cometition bet$een suliers an! thus bene+ts the en!

consumer• 9o$er >aital exen!iture for E-commerce comanies8 In this mo!el

the interme!iary $ebsite !oes not nee! to set u $arehouses an!

logistics is generally han!le! by thir! arty logistics comanies%

In45ntor/?875d 6od5:

=/


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DISSERTATION

In this mo!el# the e-commerce comany manages the in"entory an! thus

nee!s to manage its o$n $arehouses% This lea!s to cost escalations but

greater control o"er logistics% This mo!el ma(es it man!atory for the e-

commerce comany to !eal in single bran! since go"ernment regulations in

In!ia !on)t allo$ for in"entory-base! multi-bran! e-tailing%

A:i8t5 M8r;5tin< 6od5:

In this mo!el# the e-commerce comany oers "alue-a!!e! ser"ices an!

romotes other +rms% The comany earns a commission $hene"er a user

clic(s on a!"ertisements of romote! +rms% omato is a goo! examle of

this mo!el% omato is an online restaurant search $ebsite that earns a

commission $hene"er a user clic(s on a!"ertisement of a articular

restaurant% Restaurants use ser"ices of omato because it oers "ery recise

targeting% &or examle# a!"ertisement for a restaurant in 4Sa(et) $ill be

!islaye! only $hen user searches for 4Restaurants in South Delhi)% ust!ial is

another examle%

On:in5 Et5n7ion7 o9 Bric; 8nd Mort8r r5t8i:5r7

These are basically $ebsites oerate! by bric( an! mortar layers that

exclusi"ely oer ro!ucts of a articular bran!% This oers a better reach an!

=C


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DISSERTATION

also lea!s to cost sa"ings since merchan!ise can be !irectly shie! from

$arehouse to customer% Tren!In%com is a goo! examle%

BENEFITS OFFERED BY DIGITAL MEDIUM

TO CUSTOMERS TO BUSINESSCon45ni5nc5- 3ro!ucts are home

!eli"ere!usually free of costJ

Di7count7- Since E-commerce

eliminates mi!!le men# a ma7or

chun( of sa"ings can be asse! on to

customers "ia !iscounts

Mor5 48ri5t

In9or65d d5ci7ion/ 3urchases are

generally accomanie! $ith thorough

research

!id5r r58c- Online channel has a

$i!er reach since the $ebsite can be

accesse! any$here

B5tt5r T8r


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DISSERTATION

In!ia# a home to more than


52/212

DISSERTATION

In site of this the re"enues of e-tailing in!ustry ha"e gro$n exonentially

o"er the last years% &rom a meagre ,%0C billion in 600# the in!ustry has

gro$n to a $hoing ,< billion in 60,< at a >A2R of


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DISSERTATION

The reasons for this gro$th o"er last +"e years are manifol!% .ut the t$o

most imortant reasons are F 2ro$th in internet usage coule! $ith rise in

!isosable incomes an! a!otion of inno"ati"e mo!els li(e >ash-on-Deli"ery

>ODJ by online retailers%

'.1( REASONS FOR SUCCESS

C87/on/D5:i45r F Sachin.ansal# foun!er of &li(art# realize! that the

biggest hur!le for In!ian consumer to !o online urchases $as security

issues% A sychological barrier $ith regar!s to online ayments an! !eli"ery

of ro!ucts existe! in In!ian consumer)s min!% 5hat if the seller ne"er shis

my ro!uctU This barrier $as o"ercome by >OD mo!el F >ustomer ays on

6


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DISSERTATION

!eli"ery of ro!uct% It is one of the biggest reasons for success of E-

commerce in In!ia

Attr8cti45 di7count7 - The cost sa"ings !ue to remo"al of interme!iaries

are asse! on to customers in the form of attracti"e !iscounts%

F:5i?:5 r5turn @o:ic - @ost online retailers oer a


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DISSERTATION

'.1) CHALLENGES FACED BY YOUNG ENTREPRENEURS

Young entrepreneurs thrive on digital open innovation: partnering

with large companies accelerate translating ideas into marketable

products

The "ast ma7ority of young entrereneurs belie"e inno"ation is critical to

their ability to gro$ an! create 7obs% Houng entrereneurs inno"ate as art of

an oen1 inno"ation ecosystem that inclu!es many !ierent arties far

outsi!e the $alls of the organization%

E"i!ence of young entrereneurs) oenness1 is seen in the extent to $hich

entrereneurs collaborate $ith others% Nearly nine in ,0 in!icate! they

collaborate $ith customers to co-create oerings# $hile bet$een one-half

=


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DISSERTATION

an! t$o-thir!s sai! they collaborate $ith a "ariety of organizationsW

inclu!ing ublic institutions or go"ernments# aca!emics or uni"ersities# RLD

institutes# incubators or accelerators or non-ro+t organizations such as

foun!ationsJ% ust un!er three'uarters sai! they collaborate $ith eers or

other small businesses or $ith large comanies%

These collaboration artners lay a critical role in the inno"ation rocess8

They are bri!gema(ers#1 ser"ing as the (ey lin( bet$een the suly of

inno"ation entrereneursJ an! the !eman! for it customers an!

go"ernments using itJ%

.usiness incubators# ri"ate or ublicly bac(e!# ha"e long been "ital

resources for start-us# oering a $i!e range of resources an! heling shae

the entrereneurial ecosystem% Increasingly# ho$e"er# large comanies are

realizing the mutual bene+ts of oen inno"ation an! are exan!ing their role

in the entrereneurial ecosystem% Some ha"e no$ !e"eloe! their o$n

accelerator rograms to ro"i!e "enture caital fun!s# mentoring an! access

to their mar(eting an! sales resources that can hel entrereneurs translate

their i!eas into mar(etable oerings customers can urchase% In!ee!#

entrereneurs bene+t most $hen large comanies lay the role of

bri!gema(er%

9arge-scale oen inno"ation is booste! by the rise of ne$ !igital

technologies# $hich suort articiation by a large number of

geograhically !iserse! articiants an! ro"i!e oortunities to create


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DISSERTATION

ne$ business mo!els% In fact# e"ery entrereneur is no$ a !igital

entrereneur an! many of them are focusing their inno"ation eorts on the

so-calle! sharing economy18 business mo!els that hea"ily use !igital

latforms to enable consumers an! businesses to acti"ely share an!

exchange assets# ro!ucts an! ser"ices for mutual bene+t% The rise of the

sharing economy has been !ri"en by an exlosion of start-us an!

$i!esrea! exerimentation bet$een large comanies an! entrereneurs%

'.1# YOUNG ENTREPRENEURS THRI&E ON DIGITAL OPEN

INNO&ATION

“Innovation is not only in the entrepreneurs’ culture, it is the primary force

underpinning company creation. What is at stake is to maintain creativity in

the long run.” — François ie!er, "#$, %&anko

B


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DISSERTATION

Inno"ation is critical to the long-term success of any business% 5ithout a

stea!y stream of ne$ i!eas# enterrises ris( being asse! by an! e"entually

may face !i:culties in gro$ing% Inno"ation boosts a comany)s to line by

increasing cometiti"e a!"antage an! customer satisfaction an! !iminishing

the chance of !isrution by more for$ar!-thin(ing comanies% Oerationally#

inno"ation hels enhance the bottom line by increasing e:ciencies that sa"e

time an! money%

.ut beyon! being an engine of ro+table gro$th for comanies# inno"ation

bene+ts the larger community% It lays an imortant role in increasing the

"itality of an in!ustry an! society by creating 7obs an! raising the stan!ar! of

li"ing%

$pen Innovation—facilitated !y digital technologies—is the fuel for

entrepreneurs’ gro&th

3erhas no$here is inno"ation more critical than in the entrereneurial

$orl!% Inno"ation is the !ri"ing force for young entrereneurs# $ho "ie$

inno"ation as critical to their ability to gro$ an! create 7obs%

&or !eca!es# inno"ation $as rimarily the !omain of big institutions8

go"ernments# formal labs an! large cororations% *o$e"er# as technology

e"ol"e! an! see! became more critical# comanies began in"ol"ing more

arties in their inno"ation eortsWa shift that became (no$n as oen

inno"ation#1 the term coine! by *enry >hesbrough in 600


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DISSERTATION

The re"ailing logic $as X if you $ant something !one# !o it yourself#1

>hesbrough sai! in 60,,% This logic of oen inno"ation turns that

comletely on its hea!% >ometiti"e a!"antage no$ comes from ha"ing

more eole $or(ing $ith you than $ith anyone else%1

9arge-scale oen inno"ation is no$ ossible because the technology#

esecially social me!ia an! the clou!# exists to suort articiation by a

large number of geograhically !iserse! articiants% Such technologies

also allo$ young entrereneurs to test multile forms of collaboration

in"ol"ing a $i!e range of layers%

Bridgemakers—especially large companies—play a critical role in

today’s open innovation ecosystem

One of the hallmar(s of oen inno"ation is the ecosystem that !e"elos to

foster an! suort ongoing eorts to concetualize# !e"elo an!

commercialize ne$ i!eas% This ecosystem encomasses three (ey arties8

those that !eman! inno"ation# those that suly it an! the arties that lin(

the t$o grous# calle! the bri!gema(ers%1

.ri!gema(ers lay a critical role in to!ay)s oen inno"ation ecosystem8 they

connect inno"ation suly $ith !eman! to hel young entrereneurs ta(e a

romising i!ea from concet to reality% T$o tyes of bri!gema(ersWbusiness

incubators accelerators an! large comaniesWare esecially imortant in

heling young entrereneurs translate their i!eas into mar(etable oerings

C


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DISSERTATION

that customers can urchase% 9arge comanies# in articular# are exten!ing

their artnershis $ith young entrereneurs to accelerate imact%

&or large cororations# collaboration on oen inno"ation eorts can ro"i!e

greater access to ne$ technologies an! highly s(ille! talent an! !ecrease

the cost of RLD% In the rocess# it hels boost cometiti"e a!"antage an!

lo$er the ris( of being !isrute!% &or start-us# a!"antages inclu!e access to

greater ro!uction an! !istribution scale# as $ell as +nance# mentoring#

otential charter clients1 an! more robust mar(eting an! sales resources#

inclu!ing a!!itional cre!ibility% It also gi"es start-us a connection to

establishe! bran! names $ith mar(et recognition an! massi"e otential for

increase! re"enue generate! !ue to an inMux of ne$ an! !i"erse i!eas%

3rocter L 2amble is $ell (no$n for its lea!ershi in oen inno"ation%/

*o$e"er# other ma7or comanies across in!ustries increasingly are ro"i!ing

entrereneurs $ith oortunities to collaborate on inno"ation% &or instance#

2eneral Electric hosts an Ecomagination >hallenge1 an!

*ealthymagination >hallenge#1 oen inno"ation latforms that collect i!eas

for ne$ ro7ects from any otential artner# inclu!ing in!i"i!uals an! small

enterrises% 3hilis) oen inno"ation rogram !ra$s on the caacities of

in!i"i!uals# organizations an! e"en small start-us from aroun! the globe to

gain ne$ insights an! access to ne$ technologies%

Some cororations are going e"en further in their eorts to artner $ith

young entrereneurs by lea!ing or articiating in an accelerator rogram%


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DISSERTATION

B0


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DISSERTATION

'.1$ INCUBATORSACCELERATORS ENDURE AS &ITAL

RESOURCES FOR YOUNG ENTREPRENEURS

usiness incu!ators'accelerators have long !ecome vital resources for start(

ups. )hey o*er a &ide range of resources such as o+ce space, professional

services and !usiness advice, and hands(on assistance that entrepreneurs

need to succeed. In some cases, they may act as early(stage investors !y

taking a small nancial stake in the companies they are helping.

In !e"eloe! mar(ets# the bene+ts of such incubatorsaccelerators is $ell

!ocumente!% In emerging mar(ets# $here institutional "oi!s often re"ent

economic gro$th# they also lay a "ery critical role in shaing the

entrereneurial ecosystem% That)s the outloo( from Ra7esh Sa$hney# foun!er

B,


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DISSERTATION

of 2S& Accelerators# the In!ian start-u accelerator behin! 9ittle Eye 9abs#

$hich $as ac'uire! by &aceboo( in early 60,=% 1I thin( in a globally

connecte! $orl! it)s imortant that e'ual oortunities are ro"i!e! to

talent across the $orl! to create change# esecially the changes that aect a

large art of humanity#1 Sa$hney sai!% “)hat’s the mission &e have at -F.

We &ant to provide talented, innovative technology start(ups not /ust from

India !ut from an emerging &orld &ith the same opportunities that start(ups

have in ilicon 0alley and else&here. I think that &ill !e the !iggest

homogeni1ing change in a connected &orld po&ered through technology.”

B6


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DISSERTATION

These comany-le! accelerators rarely ro"i!e fun!ing but# rather focus on

mentoring# ro"i!ing access to a net$or(# co-!esigning ro!ucts an! co-

selling%

3urchase of the start-u by the larger comany is not necessarily art of the

initial ambition of these accelerators# although it may be art of the

outcome% Another !istincti"e feature of these accelerators is their

international !imension8 They ro"i!e access to a global net$or( of

accelerators that is highly "alue! by entrereneurs%

>omanies such as SA3 an! nile"er ha"e establishe! in!een!ent "enture

organizations that ro"i!e young entrereneurs $ith caital# as $ell as

access to resources an! exertise of the arent comany# to hel romising

businesses scale an! gro$% Such "enture organizations can lay a (ey role#

esecially in emerging mar(ets% 5hat QIn!ia suers from is the lac( of

exits#1 exlaine! 3aragDhol of In"entus >aital 3artners# an In!ia "enture

caital +rm% The "enture caitalist ecosystem# angel ecosystem# is crying

for exits% 5hile exits can haen through I3O an! secon!ary sales to other

larger K>ri"ate e'uity fun!sJ# strategic sales $oul! be a signi+cant ortion

of o"erall exits% The only $ay these strategic sales can haen is $hen large

comanies interact an! artner $ith some of these smaller comanies an!

conse'uently !o @LA acti"ity for start-us%1

Although there is no best1 collaboration mo!el# it aears that the young

entrereneurs bene+t most $hen large comanies lay the role of

B


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DISSERTATION

bri!gema(er in a truly holistic $ay% 9arger comanies an! start-us are

inter!een!ent#1 note! Aur"aShetty# coF foun!er an! >OO of Sensegiz# an

inno"ati"e entrereneur in the $earable technology sace% “If &e have to

gro& in this digital &orld, &e have to &alk hand(in(hand to save time and

reach the market in time !ecause it is a glo!al marketplace.”

This means going beyon! mere fun!ing an! a!!ressing se"eral !imensions

of the relationshi# inclu!ing a clear commitment to mentorshi at a senior

management le"el an! alignment $ith the large cororation)s strategic

agen!a%

'.1* ACCESS TO FINANCE FOR YOUNG INNO&ATI&E FIRMS

Houng inno"ati"e +rms face many !i:culties accessing see! an! early-stage

+nance an! these !i:culties ha"e increase! o"er the ast se"eral years%

.an(s ha"e been reluctant to ro"i!e loans to start-us as a result of the

+nancial crisis% @ean$hile# "enture caital +rms ha"e become more ris(

a"erse an!# in many cases# ha"e focuse! on later-stage in"estments% Angel

B=


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DISSERTATION

in"estors ha"e become more "isible an! acti"e through grous# syn!icates

an! net$or(s an! increasingly are laying an imortant role in see! an!

early-stage +nance%

There has been increasing concern from olicyma(ers aroun! the $orl!

about the gro$ing +nancing ga for high-gro$th +rms# articularly in the

see! an! early stage% As a result# go"ernments in many countries ha"e

sought to a!!ress the +nancing ga an! ercei"e! mar(et failures by

suorting the see! an! early-stage mar(et% *o$e"er# the ob7ecti"es behin!

these inter"entions often go beyon! a!!ressing +nancing gas% @any

countries recognize the critical role that young# inno"ati"e +rms lay in

creating 7obs an! economic gro$th an! are see(ing $ays to facilitate the

creation an! gro$th of these +rms%

@any olicy measures ha"e been on the suly si!e# ranging from grants#

loans an! guarantee rograms to tax incenti"es an! e'uity instruments%

Suort for all of these rograms increase! from 600/ to 60,6 as a result of

the +nancial crisis% *o$e"er# in e'uity instruments# there has been a shift in

focus in OE>D countries from go"ernment e'uity fun!s that in"est !irectly in

start-us to more in!irect mo!els such as co-in"estment fun!s an! fun!-of-

fun!s% These later aroaches see( to le"erage ri"ate in"estment through

"arious incenti"e structures%

The !eman! si!e is critical to success of see! an! early-stage +nancing;

ho$e"er# it is often o"erloo(e! in fa"or of suly-si!e actions% &or +rms to

B


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DISSERTATION

launch an! gro$ successfully# human caital !e"eloment is imortant% This

coul! be in the form of e!ucation# training an!or on-the-7ob exerience%

@any successful entrereneurs are serial entrereneurs# starting more than

one comany% As they start ne$ comanies# they share their exerience#

(no$le!ge an! net$or(s $ith others% There is increasing e"i!ence of the

imortance of social caital# both local an! global# as high-gro$th +rms nee!

to gro$ beyon! national bor!ers% International exansion an! in"estment

can be critical to the success of these +rms%

The frame$or( con!itions in a country can erhas ha"e the most imact on

the ro"ision of see! an! early-stage +nance% The !e"eloment of +nancial

mar(ets an! exit oortunities# $hether through I3Os on a stoc( exchange or

mergers an! ac'uisitions by other +rms# !irectly inMuences the a"ailability of

see! an! earlystage +nancing% .an(rutcy regulations# labor mar(et

restrictions an! other frame$or( con!itions also imact the creation an!

gro$th of inno"ati"e +rms%

Regulatory barriers an! a!ministrati"e bur!ens on institutional in"estors#

"enture caital fun!s# angel in"estors an! high-gro$th +rms can ha"e a

!irect result on the ro"ision of see! an! early-stage +nance% In articular#

securities legislation an! more stringent caital re'uirements on institutional

in"estors coul! re!uce the suly of in"estment in "enture caital from

ban(s# ension fun!s an! insurance comanies# tra!itionally three of the

largest tyes of ri"ate institutional in"estors%

BB


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DISSERTATION

&inancing for inno"ati"e start-us is comlex# as !ierent +nancing

instruments are nee!e! for "arious stages of a +rm)s !e"eloment%

3olicyma(ers in a number of countries ha"e sought to a!!ress the re"ailing

see! an! early-stage +nancing gas by inter"ening in multile areas

simultaneously% Therefore# olicy inter"entions shoul! not be seen in

isolation# but as a set of interacting olicies% A systems aroach is nee!e!

that co"ers both suly-an! !eman!-si!e inter"ention as $ell as frame$or(

con!itions% E"aluation an! erio!ic a!7ustment of the seci+c olicy

instruments as $ell as the full olicy mix is imortant# although it can be

challenging in ractice%

B/


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DISSERTATION

'.1% STUDY OF NE! DIGITAL INDIAN START/UPS

60,= sa$ the much a$aite! fun!ing rush in the In!ian start-u ecosystem#

an in!ustry $hich other$ise has been !ri"en by only assion% Startus gre$

exonentially an! so !i! the asirational "alue of $or(ing in a start-u%

&reshers from to engineering an! management institutes consi!ere!

$or(ing in a startu at ar or e"en betterJ $ith that of @N>s of the $orl!%

Senior management $as also oening u to exeriment to the roller-coaster

ri!e of startus an! many of them !eci!e! to steer the shis for them%

BC


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DISSERTATION

H5:@7i9t T5cno:oR@ 3ro!uctRe"enue Slab F


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DISSERTATION

creates a ne$ mar(et has to lea! the charge in e!ucating an! e"angelising a

mar(et# $hich ta(es a lot of eort% It is exciting because there is so much

usi!e otential# $hen your early customers start to "ali!ate your thesis%

*elshift has a luxurious osition of ha"ing create! a ne$ mar(et an!

controlling the ace% It launche! last No"ember 60,6J in ri"ate beta an!

ha"e about ,#ustomer Internet

Re"enue Slab-


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DISSERTATION

online retailers e.ay# Amazon# &li(art# etc%J# to hel them reach ,mobiles

ga!get enthusiast community an! to romote their ro!ucts L oers $ith

inno"ati"e $ays an! messaging%

Research sho$s that o"er =0P of all electronics buyers in In!ia research

online before urchase% ,mobiles mission is to become the starting oint L

the best source for this research%,mobiles recently launche! an on-!eman! exert assistance for 'ueries

relate! to ga!gets an! ga!get urchase% The ser"ice is calle! YS3O>Y an! is

a"ailable on an!roi! laystore for !o$nloa! as a free ser"ice to users

oo6c8r&oun!ing Hear F 60,<9ocation F .angaloreSector- 3ersonal TransortationRe"enue Slab F Z60 croresIn"estor F 60 croresName of &oun!er 8 Da"i! .ac( 3resi!entJ# 2reg @oran >EOJ

In!ustry8 3ersonal transortation

5hat it oers8 oomcar is a car-rental comany focuse! exclusi"ely on Yself-

!ri"eY# no$ a rai!ly gro$ing segment% oom is a membershi base! ser"ice

that oers self-!ri"e cars on hire# either by the hour or by the !ay% It uses

technology to create an integrate! boo(ing an! billing latform that allo$s

members to reser"e a car through the $ebsite or a mobile alication%

2ro$th Details L Exansion 3lans8 oomcar launche! in &eb 60,< $ith /

"ehicles# it no$ has a Meet of 00[% It has recently launche! its thir! city#

2urgaon in December%

/,


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DISSERTATION

In"estors L Amount raise!8 V,,@ raise! in total% This inclu!es institutional

In"estors li(e Se'uoia# Emire Angels# &un!ers>lub# Triangle 2ro$th# .asset#

2lobe"estor an! in!i"i!ual in"estors li(e 9arry Summers# 9a!y .arbara u!ge#

@ohan 3ai# rofessors from 5harton# *ar"ar! 9a$ School# an! the >ambri!ge

ni"ersity u!ge School of .usiness

&un &acts8 .oth foun!ers !roe! out of @.A to launch oomcar# @oran ha!

a full scholarshi at S># an! .ac( ha! a full scholarshi at >ambri!ge%

T58?o&oun!ing Hear F 60,6

9ocation F .angaloreSector F EcommerceRe"enue Slab F < to ,0 crIn"estor F Accel 3artners

Teabox# the Siliguri base! startu that caters to the $orl!$i!e tea-lo"ers

mar(et an! inten!s to become the +rst @a!e in In!ia1 consumer focuse!

global bran!# has raise! VBmn in Series A fun!ing le! by A&>O Asia an! $ith

articiation from Accel 3artners# ?eystone 2rou 93 an! Dragoneer

In"estment 2rou&oun!e! in 60,6# an! le! by a single foun!er# ?aushalDugar# Teabox is a

remium tea bran! that is focuse! on "ertical integration of sourcing#

bran!ing an! !istributing teas F $hile uen!ing the tra!itional tea-retailing

mo!el in the rocess% They source the best of the tea blen!s from Dar7eeling#

Assam# NilgiriL Neal an! shi to $orl!$i!e consumer through their online

ortal Teabox%com% Till !ate they ha"e shie! o"er 60 million cus of teas to

/6


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DISSERTATION

o"er / countries an! generate o"er P of their re"enue from customers

outsi!e In!ia% Teabox claims to ha"e seen ,0x gro$th in terms of or!ersre"enue $hile

their team has gro$n by a"ing# 5il!life# 3aragli!ing an! many more a!renaline uming

a!"enture sorts% In!ia# ha"ing "arie! lan!scaes haens to be one of the

+nest !estinations in the $orl! for a!"enture acti"ities%

Thrillohilia a!!resses the a!"enture nee!s un!er one roof an! romotes

In!ia as a $orl! class a!"enture !estination% Thrillohilia is a one sot

!estination $here one can +n! a!"enture information about "arious laces

/


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DISSERTATION

of In!ia# rea! a!"enture tra"elogues# share exeriences# buy a!"enture

merchan!ise an! also boo( a!"enture tris%

5ith an initial caital of Rs ,0 la(hs# Abhishe( an! >hitra launche! the ortal

in 600% *ea!'uartere! in .angalore# Thrillohilia is srea! across /0 cities

ha"ing tie!-u $ith ,0 regional ser"ice ro"i!ers% Touching a turno"er of Rs

,%6 crores last year# Abhishe( an! >hitra ha"e a mar(e! a target of four

crores for the current +scal% The !uo claims to ha"e raise! fun!s from a S

base! angel in"estor at a "aluation of SD one million% The team at

Thrillohilia !reams to be the face In!ian a!"enture tra"el%

Hou7in


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DISSERTATION

\9oo( \% The bran! launch $as a!"ertise! in national ne$saers an!

hoar!ings in se"eral cities across In!ia; an! notably# on the comany\s social

me!ia ages%

*ousing%com lists roerties submitte! by users# either bro(ers or o$ners# on

an interacti"e ma% Search results are +ltere! by a"ailable rooms# lifestyle

ratings# chil! frien!liness in!ex >&IJ# an! area-base! ricing%The comany

has mae! aroximately B0#000 houses in In!ia%

Li65Ro8d

&oun!ing Hear F 60,69ocationF 2urgaonSector- Online 9ifestyle Disco"ery L >ommerceRe"enue F Z60 crIn"estor F @atrix 3artners# 9ightsee! Kentures L Tiger 2lobal

9imeRoa! is a fun an! exciting $ay to !isco"er# share an! sho% A social-

commerce latform targete! at the intelligent $oman of to!ay# it has an

incre!ible $i!th of carefully selecte! retailers# enabling customers to !isco"er

the best of lifestyle ro!ucts across categories li(e aarel# accessories#

home an! non-erishable foo!%

It oers a "ariety of ro!ucts li(e aarel# beauty ro!ucts# bags# accessories

an! foot$ear for $omen to sho for% 9imeRoa! is In!ia\s lea!ing !isco"ery

latform for lifestyle ro!ucts $ith "en!ors an! users osting 600#000[

ro!ucts an! loo(s er month# C0P of $hich is comletely uni'ue to the

latform% Our in-session engagement rates are


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DISSERTATION

con"ersion rates# or!ers an! re"enues ha"e !ouble! in the last = months

$hilst hol!ing mar(eting relati"ely Mat%

millionV ha"e in"este! by 9ightsee! Kenture 3artners an! @atrix 3artners%

The tra:c has been u ,0 times since Aril 60,


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DISSERTATION

Retail en"ironments are no !ierent% Shosense aims to be the Internet of

Things for the retail en"ironments; being the latform that suorts all !igital

an! hysical interactions a consumer has# $hich in turn hels retailers curate

a more engaging exerience for the shoer

F8?9urni7.co6

&oun!ing Hear F 60,69ocation F 2urgaonSector F Retail TechnologyRe"enue F Z60 crIn"estor F Roc(et Internet

&ab&urnish%com $as launche! in @arch# 60,6 by Ki(ram >hora#

@ehulAgra$al an! Kaibha"Aggar$al% The latter 'uit the comany in early

60,=% In uly# 60,# the bran! !eclare! strategic restructuring of its to

management by intro!ucing Ashish2arg an! An(itaDabas as the ne$

cofoun!ers $hile Ki(ram >hora an! @ehulAgra$al stee! !o$n from their

resecti"e managerial roles The comany raise! its initial roun! of fun!ing

from Roc(et Internet# a 2erman incubator $hich has multile ecommerce

"entures across "arious countries such as alan!o in 2ermany# Da+ti in

.razil# Iconic in Australia an! 9amo!a in Russia%In une 60,6# &ab&urnish%com ac'uire! *ea"enan!home# another Roc(et

"enture# to create a single !estination for home !^cor%The e-store initially

starte! $ith 6000 ro!ucts an! since then has scale! to an assortment of

//


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DISSERTATION

o"er C0#000 ro!ucts% In Dec 60,6# it launche! its +rst franchise store in

2urgaon% The bran! has intro!uce! < more stores in .angalore an! &ari!aba!

since then%

In!ian *ome >ongress L A$ar!s !eclare! &ab&urnish%com as the 4 E-Retailer

in In!ia\ in home category in the year 60,6%In 60,=# &ab&urnish%com $as a$ar!e! \*om

business by young adults on digital platforms_thesis report

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