India's startup ecosystem has emerged as a dynamic force but despite its rapid evolution, it still navigates challenges typical of nascent market

The startup ecosystem in India has made significant progress in the past decade, though it still trails behind global benchmarks. The potential for growth is vast, bolstered by supportive government initiatives such as tax exemptions and financial subsidies. Many funders are committed to nurturing India's youth and anticipate a surge in startup numbers over the next decade due to these favourable policies and our dedicated efforts.

Many startups falter because young entrepreneurs, brimming with promising ideas, lack essential knowledge in operations, financial management, and resource utilization. Fresh out of college, they aspire to make a difference but often lack critical skills for success. Drawing from my  over 12 years of experience and a robust network, I can say with confidence that young Indian entrepreneurs have the mettle to succeed, all they need is method. They need to focus not only on funding but also on cultivating expertise in finance, operations, and overall business management to bridge crucial knowledge gaps and foster growth.

The primary challenge lies in their dearth of operational and financial management skills among young entrepreneurs, who struggle with executing their innovative ideas. I would like them to address this gap. This is where funders like YEA pitch in by offering comprehensive mentoring alongside financial support. Mentors must guide startups in enhancing operational efficiency, managing finances, and leveraging governmental incentives, thereby enhancing their prospects for success.

Today, many startups in India are spearheaded by young entrepreneurs lacking experience in company management and operations. Funders like us prioritise delivering detailed operational plans to these individuals, who possess great ideas but require guidance in execution. They need to grasp cost dynamics, optimise operations for efficiency, and access resources to ensure our investments are well-utilised. Additionally, funders provide expertise in financial management and navigate them through governmental policies, such as tax exemptions. As funding needs evolve at various stages, our extensive network enables us to secure additional funds from external investors, ensuring sustained success.

Most funders like YEA seek innovative ideas capable of disrupting industries, not mere replicas of existing models. Our rigorous selection process involves meticulous scrutiny, including detailed proposals, questionnaires, and presentations. Once selected, startups benefit from personalised mentorship and gain access to the network of experts and resources. This comprehensive support aims to foster sustainable growth and eventual success.

We funders recognise the pivotal role of genuine innovation in entrepreneurship. Our stringent selection criteria filter through numerous applications to identify truly groundbreaking ideas. We often encounter applications proposing generic concepts lacking substantial differentiation, which we regretfully have to decline. Our focus remains on nurturing startups with the potential to become the next Google or Facebook—ventures with unique propositions and scalable models.

Entrepreneurship demands more than passion; it requires meticulous planning, resilience, and patience. Success is not instantaneous but evolves through iterative refinement and adaptation. Entrepreneurs  must remain steadfast in their vision, continuously learn and adapt, and seek mentorship to navigate challenges effectively.

To aspiring entrepreneurs, both new and seasoned, I emphasize that while interest and intent are commendable, launching and sustaining a company demands much more. It necessitates thoughtful planning, unwavering commitment over time, and resilience in the face of challenges like funding setbacks or idea evolution. Drawing from my own journey as a first-generation entrepreneur,

Today's startups often aim for rapid multi million or billion-dollar success, yet such achievements are rarely immediate.

It's encouraging to witness more individuals embrace entrepreneurship, yet true success hinges on sustained commitment, focus, and perseverance. Securing funding marks just the beginning of an entrepreneur's journey, not its conclusion. Entrepreneurs must recognise that building a thriving enterprise demands continual effort to benefit themselves, investors, clients, and stakeholders alike.

(The writer is president of the Young Entrepreneurs Association and initiated Rs 500 million investment fund aimed at nurturing and mentoring promising Indian startups; views are personal)