India currently has about 70 start-up accelerators. There has been a 108% growth in start-up funding, 1,200 new entries in the market and about 40,000 additional work forces. It has experienced a great revival in 2018 even after the slowdown in 2016-17.
Successful start-ups are getting introduced in Tier 1 cities such as Delhi and Bengaluru as they have been raising funds from investors. The investment into start-ups has gone up from $2.03 billion (2017) to $4.2 billion (2018).
Another viable alternative that has provided major boost to this segment is start up business loans. These financial sources are helping small organisations setup and expand, market their products or services and thus lead to more employment opportunities.
All of these funding options originating from private investors, financial institutions and NBFCs offer substantial capital finance. New organisations can now avail a diverse range of business loans for their working capital and other requirements.
The noteworthy role played by accelerators
For any small scale business, most of its everyday operations depends upon its adaptability to the changing environment. The accelerator programme offers a healthy environment to such a business and also helps them remain unaffected towards market fluctuations.
When a start-up joins accelerator programmes, it receives support and industry guidance from experts. The immense knowledge of industry mentors allows them to overcome challenges which every small business owner face at the initial phase. Starting from ecosystem support to improving the professional skills of the business members, accelerators ensure a business’s prosperity.
With initiatives such as Start-Up India undertaken by the government, the country’s entrepreneurial landscape received a major boost for budding business minds. Financial institutions came up with an array of start-up business loans which were designed to provide instant funds. Such economic incentives coupled with guidance from the accelerators promoted the advancement of MSMEs (Micro, Small and Medium Enterprises).
Accelerators play an essential role of aggregator and help to bring every component needed for the growth of a start-up together. Increasing their overall chance of survival in the competition, the accelerator programs often work as the backbone of start-ups.
- Quality analysis
- Product pricing
These are the primary zones where accelerators work the most. By devising a solid market acquisition strategy, they help a start-up to build the right workforce for their business.
Some of the most popular accelerator programs in India include
Microsoft accelerator –
It is a global programme which empowers tech start-ups during their growth phase. It builds a business ecosystem which creates a sustainable workforce.
GenNext Hub –
It is termed as a “Scalerator” platform initiated by the Reliance Industries. Start-ups can scale up their service or product with the help of their guidance and mentorship.
This accelerator focuses on creating innovative solutions for start-ups venturing into the automobile industry. They conduct workshops and provide organisations with a platform for interaction ad network-building.
Financial sources for start-ups: Business growth
Apart from the accelerator programs, beneficial financial alternatives have cropped up in the form of start-up business loans. Such loans are used for –
- Equipment purchasing
- Rollover for start-ups
- Infrastructural development
- Equity assistance and working capital finance for business
The loans offer quick business finance at attractive interest rates. These fulfil short-term, intermediate and long-term requirements and help the start-ups to scale new heights. Moreover, these loans come with pre-approved offers.
If your start-up needs proper guidance and mentors then seek the expertise of accelerator programs. You can avail instant financing solutions such as business loans and thus secure your business’ future.