Vanshika HHW (PPT Startups Economics)

“STARTUPS ARE
ESSENTIAL FOR
ECONOMIC GROWTH”
Submitted By:
Vanshika Dalal
XI-D
"Why Startups are Essential for Driving
Economic Growth and Innovation"
Startups are essential for the growth of

the economy and the development of a
thriving business ecosystem. These new
and innovative companies bring fresh
ideas, products, and services to market,
create new jobs, and drive economic
growth.
Pitch deck title 2

STARTUPS
E-LEARNING
Several Indian start-ups such as Byju’s, Unacademic, upGrad, and Simplilearn have risen to the
occasion providing viable alternatives to aspiring learners forced to stay home during the
pandemic, spurred by the growing Internet penetration in India.
ECOMMERCE
During the lockdown and after, ecommerce companies played a crucial role in providing
essential supplies to people, especially in urban areas. The delivery personnel of these
companies acted as true Corona-warriors, enabling citizens to stay indoors and adhere to
social distancing measures. Online grocery companies such as Big Basket were able to
fulfil the demand for home delivered groceries.
HEALTH AND WELLNESS

Given the lockdown, social distancing norms, and the added stress on medical personnel,
remote medicine gained considerable uptake. Companies such as Practo, mFine and others
helped empower doctors to serve patients remotely without exposing them to the risk of
infection due to hospital visits. These online medical services also played an important part
in helping treat patients affected by COVID-19, enabling them to get the required medical
support and advice even as they were in home quarantine.
7/14/20XX Pitch deck title

“Role of start-ups in the growth
of the Economy in India”
Startup-friendly policies in India do not always necessitate large

sums of money or incentives. They do, however, need help from
successful founders and strategic angels in all stages of
development, such as business strategy, community building,
and connecting with skilled business mentors. As India has a
massive, diverse population with many talented individuals in
search of work, it is essential to develop state ecosystems by
establishing a startup policy, startup portal, and helpline within
every state. Creating incubation centres, co-working spaces,
entrepreneurial cells, and instilling an entrepreneurial spirit in
every student at a young age is even more necessary.
4
CONCLUSION
A start-up is a young company that is Most of us would like to believe that start-ups can only grow in
beginning to develop and is in its early developed countries due to the availability of resources and the right
stages of development. Start-up environment to grow. Contrary to this belief, start-ups can begin
enterprises play a key role in economic anywhere and it is often the countries with the required demand that
growth. As we know, business activities present opportunities for start-ups.
drive the creation of jobs and global
data shows start-ups are creating more
jobs compared to larger companies and A start-up can easily prosper in underdeveloped countries, nations in
enterprises. conflict, and countries with new entrepreneurship. Countries with such
environments offer challenges, which are opportunities for a start-up to
make a profit and thus establish itself.
5
BENEFITS OF STARTUP
Enhanced Standard Of Living-One of the most of living of the people. In India,
there are a large number of start-ups working to promote local artisans and develop
their communities. important aspects of the start-up is that they incorporate technology
and innovation and provide the best services to people. This, in turn, will allow
improving the standard
Start-Ups Will Create More Jobs-Any kind of business activity helps to generate
jobs. With more and more start-ups an economy will not only experience increased
jobs but also the creation of a skilled workforce. Start-ups are a great way to enhance
employment creation in the economy, especially for the skilled workforce.
Creation Of Wealth -Since start-ups are in their growth phase they would attract
investors by investing their resources. Thus, the expansion of the start-ups helps the
citizens of the particular country benefit from it. Since money is being invested and
spent within the country, wealth is created within the nation. In the future, when these
start-ups go public they help the employees and shareholders make profits.
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Develop New Technology-The start-ups are the centers of
innovation and they can boost the economy through the
adoption of new technology and creating new industries over
time. Due to the bold decisions of the start-ups to work on
newer technologies we can see how drastically the economy
is changing. For example, the banking industry has
experienced a massive change by the adoption of innovative
technologies like digital banking, automated financial
services, and blockchain technology.
Open New Markets-The rapid growth of start-ups has also

resulted in the creation of alternative markets which were
hitherto unfathomable to many. The start-ups seek to
regularize and develop the sectors that were previously
considered unorganized. Some examples of start-ups that
have created new markets are Ola, OYO, Byju’s, Swiggy,
Paytm, and Practo.
7
COVID-19 Pandemic
While the startup rate has been in a decades-long decline, another measure of new businesses forming has seen a
spike since the pandemic started. The number of applications to the Internal Revenue Service for Employer
Identification Numbers (EINs) — which are required for every new businesss — has skyrocketed during the
pandemic
While this spike seems to be encouraging, some caution is required. An increase in EIN applications
does not necessarily translate to a similar increase in employer startups. This is because entrepreneurs have
additional incentives for obtaining an EIN. For example, EINs help entrepreneurs with building business credit
history, which is important for obtaining private business loans, even for businesses not planning to hire any
workers.
8
At this moment, a lack of data prevents us from understanding the
macroeconomic consequences of the COVID-19 startup boom. Only in
time will we be able to understand whether this pandemic episode is
associated with the innovative benefits of a cohort of startups.
Conclusion
Startups make up a relatively small fraction of the total stock of firms, but
there is a tremendous amount of heterogeneity among them, characterized
by their "up-or-out" dynamics: Only a handful of startups are fortunate
enough to reap the benefits of their innovations, and their success drives
aggregate outcomes such as employment, productivity and economic
growth. However, many others fail in the process, with most startups not
staying in business for more than five years.
The prevalence of startups in the U.S. economy has been falling over the
past four decades. In particular, the startup rate has declined substantially.
Yet despite the economic turmoil associated with the COVID-19
recession, the number of EIN applications surged during the pandemic. In
turn, this has been followed by a substantial amount of establishment
openings and job creation, presenting a clear break from the secular
decline in business dynamism.
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Several questions in
mind?
Is the pandemic surge in businesses the start of a new era in U.S. business dynamism?
Moreover, is this spike the sign of a burst in innovation leading to economic growth? Or is it
only temporary and a mere restructuring of the economy to accommodate the new lifestyle of
working from home?
Researchers are eagerly waiting for future data to answer these questions.
10
Thank you

Vanshika HHW (PPT Startups Economics)

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“STARTUPS ARE

Startups are essential for the growth of

Pitch deck title 2

HEALTH AND WELLNESS

7/14/20XX Pitch deck title

Startup-friendly policies in India do not always necessitate large

7/14/20XX Pitch deck title 6

Open New Markets-The rapid growth of start-ups has also

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