National Start-up Day 2023: A boost to young entrepreneurship

It was January 16, 2022, when Prime Minister declared the date as half-recognized toward the National Startup Day. A day for startups to celebrate their spirit of innovation and  indeed it gave a moment to celebrate roughly half recognized startups, this day demonstrates that startups are here to stay and country will always promote entrepreneurs and their young businesses

Let’s hear from these young entrepreneurs on their journey of startup and how embarking a day to startups has given them a boost and motivation to work hard towards their goal and what their future expectations.

Nishith Rastogi, Founder, and CEO of Locus

National Startup Day is a reminder of the boundless potential of entrepreneurship to create employment, drive meaningful innovation, and enable strong economic growth for the progress of our nation. Being an entrepreneur myself, I am extremely grateful for the tireless support extended by The Government of India to the ecosystem. It motivates entrepreneurs to pursue relentless innovation with grit and determination. I believe the government's visionary initiatives, such as Digital India, are ideal launchpads for Indian entrepreneurs to keep pushing boundaries to make a difference. We at Locus promote a culture of entrepreneurship and innovation for good that empowers young guns within our organization to apply and file for patents. By doing so, we want to support them in their commitment to solving challenges of the global last-mile logistics industry", said Nishith Rastogi, Founder, and CEO, Locus.
 

Krutika Lal, Co-Founder & CMO, Aretto.
“The startup ecosystem has seen a shift from skepticism to nationwide adoption in the past decade, and we are now entering a new phase of exponential growth as e-commerce, digital payments, and data democratization continues to shape the future of business. It has blossomed into a thriving community where collaboration and support are at the forefront. New designs, innovations and ideas are constantly emerging and the audience is more open than ever to embracing local, homegrown startups. Together, we are growing as a unit and propelling the future of entrepreneurship.”

Chetan Rexwal, Co-founder of Ekank Technologies
"The year 2022 was a year of realization for startups. On one hand, we witnessed the size of startups increasing rapidly, and on the other hand, we witnessed dried-up funding due to a major ‘funding winter’ amid a decline in investor confidence. The future of startups would be more about how startups can identify problems or core areas that have remained untouched from an accessibility perspective, and grow that using tech in a sustainable manner.
In 2023, we can expect startups to be more focused on profitability and unit economics, which is an economically sustainable and profitable business model. Unit economics will help them to understand whether the investment made in acquiring a customer is returning any marginal profit, and if so, how much and or how fast it is going to be."

Jitendra Chouksey, Founder and CEO of Fittr

PM Narendra Modi's announcement of National Start-Up Day to holistically support startups through ideas and guidance has given assurance to aspiring entrepreneurs like us. Embarking a day to startups educates individuals about our critical role in the economy.
 
The support and motivation that we have received from the government has helped us utilise our profound knowledge to full potential & thereby enhance public health and fitness solutions through our services and scientifically backed nutritional education tools around the globe. It has also enabled us to tap into our indigenous resources and create employment for many people. We hope our government continues to support young entrepreneurs and the startup ecosystem by believing in their vision.