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Entrepreneur Steve Blank created one of the most well-known definitions of a startup. According to him, "a startup is a temporary organization searching for a repeatable and scalable business." Such businesses operate with limited resources trying to fulfill a market gap with products that have an uncertain demand.
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The number of startups grew by 8971% from FY 2016-17 to 2021-22 with 65,861 startups in 2022, mentioned Commerce and Industry Minister Piyush Goyal. But are all these profitable? Nearly 95% of these startups are loss-making and significantly burning a lot of cash. Yet, there is something surprising about
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India has witnessed a significant increase in the emergence of startups in the last few years. India is now the world's second-largest startup hub, with over 94 unicorns in total. Indian entrepreneurs have evolved into powerful drivers of the country’s economic progress. This is undoubtedly the best