By Jagdeep Kaur
India has an amazing potential to become an entrepreneurial hub but unfortunately, with the lack of incubation facilities; the start up sector has not been able to get the required boost. At this juncture the decision of Narendra Modi Govt. towards the CSR spend by Corporate has given an unexpected thrill to the budding entrepreneurs and has proved to be an icing on the cake.
The Corporate spend on incubators will give enough push to the budding entrepreneurs and with the two going hand in hand, the start ups can get a stage to bring their idea to practice and check its feasibility.
With the backing and resources of established companies the implementation can be critically examined and brought to the market in a phased manner. The skill of sensing newer demands and bringing the undetermined requirements to the market is a trait the startups carry. With the current preposition in hand, these traits can find right platform to check its applicability and deployment.
Being based at Amsterdam, I feel India has finally taken the route that Amsterdam has long treaded. One of the most innovative city that keeps adapting to new developments is a perfect example to be cited to growing economies like India. Promoting the startup culture that can bring about a sea change and mutual benefits to the established corporate sector and the startup themselves is a big initiative.
The government support comes handy in the way of startups by providing them a fertile breeding ground. Interestingly the first step has been taken, and there are lessons to be learnt from countries like the Netherlands giving entrepreneurs the opportunity to explore without much fear of repercussion.
The current focus on CSR has given an opportunity to the Corporate to prove themselves socially responsible. Previously companies used to donate money for social causes that gained them a lot of media attention and brand loyalty.
Today, they have to integrate the social causes with their day to day businesses. We live in the times, when a paradigm shift is happening in the mentality of people and businesses. The agenda is to find a connection between the two. Working for one cause and advertising it, is just not sufficient. Consumer today is well aware and active. Rendering a hand in ushering new growth opportunities, creating employment and supporting the new found businesses is going to be a respected step in delivering societal responsibilities by the Corporate.
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Disclaimer: The views expressed by the author in this feature are entirely his own and do not necessarily reflect the views of India CSR.