India today boasts of the 3rd largest startup ecosystem in the world and is growing at a frantic pace. India is home to 53 Unicorn companies by July 2021, a significant rise over 2020, where we saw 12 new Unicorns being added in spite of being a pandemic year. An Unicorn is a company that achieves a 1 billion US dollar (approx. 7500 crore rupees) valuation for the products or services that it offers consumers. The startup boom in India is driven by multiple factors such a growing funding ecosystem, greater absorption of digital technology across all strata’s of society and a ‘we can’ mindset that is inspiring more youngsters to give up regular jobs to pursue their dream of becoming innovators and entrepreneurs. The confidence and the enthusiasm of the Indian entrepreneur in India’s business environment is growing exponentially. This has also been driven by various government initiatives such Startup India, Digital India , Startup India Seed Fund, MUDRA Yojana, Atal Innovation Mission and eBiz portal , just to name a few.
The Government of India Economic Survey 2020-21 published in the end of Jan 2021 mentions that the government has recognized nearly 41000 startups by end Dec 2020 which have created nearly 475000 jobs. The government recently opened up the defence sector and space exploration to the private sector. This has further given impetus to creation of innovative entrepreneurs who are willing to offer technically superior products and unique service solutions for the Indian business environment.
The surge in entrepreneurship in India is largely now being dominated by Fintech companies such as Paytm, Phonepe, Razorpay, CRED, Zerodha, Digitinsurance, Groww, etc. The initial years of startup growth were dominated by eCommerce giants such as Flipkart, Amazon and Snapdeal. Now the focus is additionally on Education tech (byjus, Upgrade, Unacademy) Food tech (Big Basket, Zomato, Swiggy) health tech ( Pharmeasy, Practo, Netmeds ) and media tech companies ( Sharechat, Vokal, POPxo ).
Given the above scenario, there is no doubt about the growth prospects of the India startup industry and as such there will be a huge need for manpower educated in the field of entrepreneurship and innovation. Therefore, many management institutes and universities across the India have come up with entrepreneurship course to meet these requirements. And thus, specifically designed entrepreneurship degree program like the BBA Innovation and Entrepreneurship comes in. An uniquely designed BBA degree program that focuses on building creative ability that will allow a student to come up with innovative product and service ideas. He will learn the innovation lifecycle management and frameworks that will help build an entrepreneurs mindset. The BBA Innovation and Entrepreneurship program is curated with inputs from successful entrepreneurs and businessmen and will have a large number of entrepreneurs who will mentor students each year to build practical knowledge and skills for successful business planning and entrepreneurial management. A BBA degree such as this will provide relevant and industry ready human resource to startups in various sectors in India and globally. The skillsets developed during this innovation and entrepreneurship course will allow a successful graduate to either set up his own startup or contribute significantly in the growth of existing startups and industry.
The BBA Innovation and Entrepreneurship degree is a very relevant entrepreneurship development course to the startup industry in India and has been designed to meet the future needs of this exponentially growing sector. This is one of the best degrees for entrepreneurs to kick start their career in the startup and scale it up further to foster the economic growth of the country and thus generate the employment.
Group Director & Managing Trustee
Indira Group of Institutes, Pune