Types of Startup

There are 2 types of Startup

#1. Bootstrap:- This type of investment comes from self or family funds and investments. Their main objective is to earn profits and account for only 10% of overall startups in India.

#2. Investor Funded:- Investor funded startup companies run with investor funds. Their main objective is growth irrespective of profit or loss and account for nearly 90% of overall startup stories in India.

The sectors that had the maximum registered startups are food processing, product development, application development, IT consulting and business support services. Photo: iStock

Essentials for Success of Startup

#1. Initiative:- A successful startup is one that helps in the ground level problem-solving rather than profit-making. It should help in giving a solution that is yet to be discovered.

#2. Socially Impactful:- It should have a social impact as well, catering to the larger masses of the society.

#3. Employment Creation:- A startup that have a potential to become successful is more committed towards economic growth employment growth as compared to making profits.

Discover 8 outstanding success stories | Erasmus+

Categories: Entrepreneurship

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