The success rate for funded start-ups is less than 10%, and as many as 1,000 start-ups shut down last year. But that’s not stopping India’s start-ups from shooting for the stars. Around this month last year, there were around 19,000 start-ups in India.
50% of those surveyed tried their hand at fundraising
last year. Of that group, 63% “did not have a favourable experience.” However, 94% of all survey respondents are looking to fundraise this year.
Help wanted with investors
11% of surveyed start-ups were already profitable, but virtually all start-ups in the study saw themselves becoming profitable in four or more years. 64% saw themselves achieving an exit within six years.
A few good women
Sales talent narrowly topped the list of most difficult hires – nearly one-fourth reported that as the hardest talent to obtain – followed by chief technology officer (CTO) and chief marketing officer (CMO) at 23% respectively.
Less than half – 42%– reported women
roles, either on the board (24%) or as a CXO – a chief-level position like CEO, CTO, etc. (18%). However, 33% said they were “looking to hire” women
Though the Indian government’s goods and services tax reform
was received well by the survey participants – 40% named it the most helpful government initiative – a better tax policy topped the list of requests the founders had from the government. Cheaper financing was the aim of 19% of respondents – just 1% less than those who asked for a better tax policy.
This is an excerpt from an article published on TechInAsia. You can read the full story here