From The President’s Desk
Dear IBG Associates,
The Indian economy is now firing at a high level, at around 7/50 % annual growth.This is the best among large economies, and has surpassed China too. With reforms gathering pace, this is expected to get to 8% next year.The most exciting new lever of economic growth is the recently seen phenomenon of Start Ups and Funding. Almost every college student after completing whatever education they have done is opting to set up a new outfit, a startup, either singly or in a group of 3 or 4.Or joining a Start up. There are around 4 million students graduating every year in India, imagine the startup ecosystem if a large chunk gets to become entrepreneurs.There will be many who don’t succeed, but many will too. Funding for startup entrepreneurs has become more easily available, with Angel Funds, High Net Worth Individuals, Venture Capital money, etc etc ready to deploy investments into new companies. The governments of India as well as State governments are also supporting, providing startup capital, ease of doing business, bringing in reforms in rules and regulations, etc. etc. Even other countries are beginning to sit up and take notice and their country funds are getting into the action.
There was never a better time in Indian history to get into a business venture rather than opt for a job. And it is just the beginning. Several ‘Silicon Valleys’ are getting created across the country, and it’s just not one region or city. Each city is producing entrepreneurs and there are already hundreds of angel funds and investors across India exploring deals. It’s a great match of money and (ideas + effort) to create new things and services. Banks would never support such intangible assets so this brings about a new class of entrepreneurship.
Between entrepreneurs and funds, there is currently a gap and which is of service providers, coaching and training support systems for first time entrepreneurs, experienced mentors and much more. The investors normally do not provide such inputs. IBG is stepping in to fill this gap with a panel of such service providers that start ups can tap into to help solve real world problems they encounter in their journey.
This new vertical of IBG launches on 15th Dec. All concerned with this eco system are invited to participate. Those interested may respond to this mail and I will mark you down for sending details of the event.