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October to December 2024 Article ID: NSS8787 Impact Factor:8.05 Cite Score:58 Download: 9 DOI: https://doi.org/ View PDf
The Role of Startup Ecosystems in Driving Economic Growth and Innovation: A Focus on Transforming the Indian Economy
Dr. Preeti Anand Udaipure
Assistant Professor, Govt. Narmada College, Narmadapuram (M.P.)
Abstract:This paper examines the role of startup ecosystems in the economic
development and innovation of India, with special emphasis on the impact they
have on job creation, technological advancements, market competitiveness, and
overall economic transformation. An analysis of the professional and
demographic characteristics of a large sample in this study demonstrates the
considerable prevalence of young, educated people, especially students and
entrepreneurs, in the country's emerging startup culture. With their innovative
business plan and disruptive technology, entrepreneurs create sectoral shifts
and contribute to the growth of productivity across a wide range of sectors.
With an immense and diversely skilled talent pool and its growing domestic
market, India represents a unique opportunity for the success of any business,
combined with government programs and policies such as "Startup
India," which cultivate an entrepreneurship-friendly environment. The
study, therefore, emphasizes the importance of creating these ecosystems because,
besides serving as key drivers for the future success of India's economy, it
addresses vital concerns such as employment, technological gaps, and regional
disparities in addition to its role in economic development.
Keywords:Startup,
Ecosystems, Economic Growth, Innovation, Indian
Economy,Job
Creation, Technological Advancements, Market Competition,Startup India,
Economic Development.