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Success of Startups depends on dreaming and doing; Says Dr.T.P.Sethumadhavan

Dr.T.P.Sethumadhavan

 Success of Startups depends on dreaming and doing; how fast we are implementing the dream? is more important in innovation decision making process for developing Startups. Innovation& startups have volatility, uncertainty, ambiguity and complexity. Says Dr.T.P.Sethumadhavan. Education and Career Consultant & Director of UL Education.Dr.Sethumadhavan made this state during the release of his book on startups and emerging career on 8th February 2018 during the Kerala Literature Festival at Kozhikode. The book was published by DC Books. In the globalised era Startups are emerging across the globe.

India is emerging as a global destination for Innovation, Incubation and Start-ups and provides great opportunities. Government of India and State Governments has come up with exciting programmes to support appropriate type of ecosystem and to nurture innovations and launched the Start-up India action Plan for bringing in policies and frameworks that can support and nurture the start-up eco-system. India ranks third in Start-up ecosystem after United States and UK and is emerging as a hub for innovation and has a large population of youth with untapped ideas. Innovations can trigger social change and solve problems faced by contemporary India. Bangalore ranks first in innovation and start-up destination in the Country. International trading system, economic impact, policies, technology solutions and digital innovations are the major areas which facilitates Start-ups in the country. Today youth is emerging as job creators rather than job seekers. There are ample opportunities for innovation in information technology. Now there are no services available in India without ICT or online. The number of internet users in India is likely to more than double to 730 million by 2020 of which more than 75 percent of new users would come from rural areas. Interestingly 75 percent of new users are expected to consume data in local languages. E commerce market in India is expected to double to 34 billion US dollars by 2020.The number of online shoppers is likely to more than triple to 175 million from current 50 million.By 2020 India will have an estimated 702 million smart phones in use and mobile phones will emerge as the preferred device for shopping, accounting for 70 percent of total online shopping. Two Billion people in the world are using internet. One Billion people are regularly browsing Face book. Power of innovation is changing day by day. Future business is going to through social media. We will have to think of next generation IT solution for 2020. By 2020 consumer, expectations and innovations will change.
While thinking of innovation we should keep in mind why we need to innovate? More than 52 percent companies among the fortune 500 companies disappear because of poor sustainability. Need of the hour is to identify technologies which can be scaled up across the growing population. In India basic challenge is between automation and skilled labour, documenting Vs knowing and advanced manufacturing vs. jugaad. There lies huge gap between available and required skill in the country. Capacity building will create talent pool. Innovation needs to be linked to market need. Learn and experimentation is more important. 
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