As we open the book of 2024, we are greeted by 365 blank pages, each waiting to be filled with the stories of resilience, innovation, and success in the Indian startup ecosystem. The dawn of the new year signals the commencement of a fresh chapter, offering renewed optimism following the trials faced by entrepreneurs throughout the past year. Despite the challenges encountered in 2023, the unwavering entrepreneurial spirit prevails, creating a backdrop of hope for the journey into 2024. As we stand on the threshold of possibilities, startup leaders articulate their expectations and aspirations for the upcoming year, contributing distinctive perspectives to the canvas of a promising future.
Let's have a look at what entrepreneurs want in New Year 2024.
Policy Reforms for Enhanced Investment
Prasad Sreeram, CEO & Co-founder, Cogos
"In 2024, my focus extends beyond innovation and growth. I'm particularly eager for policy updates that can draw increased foreign and domestic investments into startups, addressing the current funding landscape's lack of progress. Anticipating government support, especially for innovative and deep-tech companies addressing challenges in India, we aim to contribute top-notch work, foster meaningful collaborations, and pave the way for a future where startups flourish, bringing about positive change. Here's to a year filled with unparalleled opportunities and impactful strides!"
Skilling Revolution in the Blue-collar Workforce
Puneet Dhiman, CEO & Founder, chaabi.ai
"With the Indian government and major industries pouring billions into skilling and upskilling initiatives in 2024, the blue-collar workforce training sector is poised for explosive growth. This allows equipping our workers with the skills they need to secure good jobs and contribute to India's ambitious economic goals. At chaabi, we are committed to playing a key role in this skilling revolution, partnering with both government and industries to bridge the skill gap and empower India's blue-collar workforce for the future."
A Call for a Supportive Regulatory Environment
Rohit Gajbhiye, MD and Founder of LEO1
“As we embark on a new year, entrepreneurs worldwide share a common aspiration for a regulatory environment that nurtures innovation, embraces sustainability, and facilitates business growth. Our collective wish is for governments to enact policies that foster a dynamic and supportive ecosystem, enabling startups and businesses to flourish. We seek streamlined processes that encourage market entry, coupled with regulations that strike a balance between oversight and entrepreneurial freedom. May the new year bring about positive changes in government policies, reflecting a collaborative understanding of industry needs. Entrepreneurs hope for a future where digital infrastructure development is prioritized, ensuring enhanced connectivity and accessibility. Together, let us envision a regulatory landscape that empowers businesses to thrive, contribute to economic progress, and build a better, more sustainable world.”
Focus on Real-world Problem Solving and Reverse Migration
Saurabh Gupta, Founder, Verismart
“Expectations from Industry is to focus on solving real-world problems and not just leverage more on Technology or AI to exist. Build companies based on ESG, environmental tech, cleantech, foodtech, which are real-world issues haunting the future of humanity's existence. Also, the Indian landscape is really vast; new entrepreneurs shall focus on building products that can solve at scale, not just for the top 8% of the population. Govt policy should try to bring back those companies to the Indian landscape who are of Indian origin and shifted their base to some other geographies because of stringent policies. This decade should be India's decade of reverse migration. Policies shall be leveraged for using pioneer techs without the tender position, because still government departments tender or GEM portal tender does talk about eligibility criterion or experience relaxation for tenders, but hardly any department follows it. With every policy staging for implementation, a government sandbox shall also be enabled, allowing startups and organizations to build with ease and remain compliant at the same time.”
As we step into 2024, the aspirations of Indian entrepreneurs echo a collective vision for a more supportive ecosystem. From policy reforms for enhanced investment and a skilling revolution in the blue-collar workforce to a call for a supportive regulatory environment and a focus on real-world problem-solving with a vision for reverse migration, these entrepreneurs are optimistic about the positive changes the new year can bring to the Indian startup landscape. The stage is set for collaboration, innovation, and growth, as the entrepreneurial community eagerly awaits a year filled with promise and progress.
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