We are fast approaching towards a ‘digitized economy’, especially with the recent heavy push from the Indian government. Every single inflection point brings with it a ‘creative destruction’ that shakes the incumbents and offer new opening for the startups, and the current one is no different. Of late, the startup frenzy has caught up the Indian urban diaspora, and there seems to be a reasonable demand for startup mentoring and other support services that bridge the gap between those with an ‘idea’ and the ones with the ‘resources’. The secret of Silicon Valley, or most of the western entrepreneurial pockets, is the presence of strong institutional intermediaries, such as mentor networks, funding agencies, angels, training institutions, et al., that provide the necessary impetus to an idea for it to take shape. India, with its weaker institutions, and resource deficiencies, has suffered for long where ideas seldom reach to the right customers or the appropriate investors. Can digital be a solution?
Digitization has helped India more than most other world economies, including the advanced ones. Poor physical infrastructure, low literacy levels, missing or weak institutional intermediaries, growing disposable income, and fierce competition has led to Indians witnessing some of the most advanced communication solutions available at very compelling prices. The pervasive and frugal communication web has subsequently led to a positive inducement for several startups, not just for the urban elite, but also for the rural masses. Casting the net wider, can the same digitization help reach out to the ‘entrepreneurs in the making’ and assist them to shape their ideas and dreams? Why not?
Imagine you have an idea, and you want resources to validate it and some guidance to shape it up. Where do you go from there? If you are lucky and have the ‘right’ pedigree, you can draw the attention of some mentors, or hopefully pique the interest of investors. But not always. The chances are that you will give up the idea mid-way and continue doing your chores. What if you have an online mechanism to bounce off your idea with like-minded people, seek advice from the experts, solicit some seed funds, and even get a few lead customers? All that without leaving the confines of your dorm or living room, or office!
If the dictum of a successful startup is ‘fail faster to succeed sooner’, digitally enabled startup mentoring and enabled platform, or call it an ‘ecosystem’, can nudge you. That’s what is the concept of ‘startup on the cloud’. India could, in fact, be a pioneer in this space, for its aspiring population, failing institutions, and ever increasing problems increasingly crying for smart solutions. With Moolya, the idea is to give ideas a shape through a Digital Ecosystem, and be a game changer. Follow the blog on how to go about the startup journey, the digital way.