In addition, initiatives such as Sub-Mission on Agricultural Mechanization (SMAM), NexGen Innovation and Entrepreneurship Development Centre, Single-Point Registration Scheme, and The Venture Capital Assistance Scheme (VCA) are also helping the budding entrepreneurs,” he said. I would also like to add that startups can utilize all the facilities being made available to them by the Government of India, such as SAMRIDH, Pradhan Mantri Mudra Yojana (PMMY), and Multiplier Grant Scheme (MSG). These things are now completely managed by the cloud provider. Therefore, they can avoid the upfront cost of buying and investing in people to manage the infrastructure. “Startups need not look at building an on-prem infrastructure because everything they want today is available on the cloud in an open pay-as-you-go model. Vikas added that as far as investments in infrastructure are concerned, startups should focus on an open pay-as-you-go model rather than on-prem infrastructure. So, I would say patience is a virtue,” said Vikas. Typically, it would be best if you are allowed about 18 to 20 months for your product to be viable in the marketplace and then look at a four to five-year window to have a stable and sustainable business. Fiscal prudence needs to be exercised in the sense that if startups need to spend, it must be first on acquiring the right kind of talent and second on customer acquisition. “My experience tells me that it is always better to be a little conservative in the early days of your startup. In addition to that, Vikas Bhonsle, CEO of Crayon Software Experts, believes that startups need to be prudent in the early days to sustain themselves. Official figures state that 2 to 3 technology startups are being born every day in India, fueled by investments from large enterprises as well as government support in terms of funding and supportive policies. That said, these contemporary startups need to survive this momentum and scale further to achieve the status of a large company. It is now established that India is at the point in its history of giving rise to innumerable young entrepreneurs and various futuristic solutions that can forever transform the IT industry.
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