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Startups 2017-10-14

This ‘Diwali’ Brighten up Your Startup and Entrepreneurial Venture

India has emerged as the third largest start-up base and such ventures are poised to grow 2.2 times to reach 10,500 by 2020.

By Nibedita Mohanta Feature Writer

Indian festival of lights, ‘Diwali’ is around the corner and it is regarded as an auspicious time of the year to start a business or startup venture.

India has emerged as the third largest start-up base and such ventures are poised to grow 2.2 times to reach 10,500 by 2020 despite a perception that the ecosystem in the country has slowed down in the last year, says a report.

India is in the third position just behind US and UK, and nearly 1,400 new startups are expected by end of 2016, up by 8-10% from last year, revealed the "Indian Startup Ecosystem Maturing - 2016" report by Nasscom-ZINNOV.

Start-up funding in India has grown at a rapid pace in the last five years with investment values increasing at a CAGR of more than 57% while total number of investments have increased at a CAGR of over 62%, according to a latest report by Grant Thornton.

Here are some of the reasons why Diwali is going to be proved as the best time to brighten up your start up venture:

  1. Home Cleaning:

It starts with cleaning the house, curtains, polishing the furniture, vehicles and wardrobe. People find time to do all the cleaning and cleansing of their surrounding, to let the negativity out and positivity fills their house.

The entrepreneurs and startups, who are into house cleaning, furniture polishing, repairing, or wall painting can use the opportunity to cash in profits.

People tend to be in jolly and fun mood, for the festive season as well as the bonus too had just added the x-factor, they find this is the right time to get major things done other than shopping and cleaning.

  1. Home Renovation:

People decorate their homes with beautiful lightings, which is why different types of lamps are what they look for during Diwali. The creative entrepreneurs, who deal with beautifully crafted lamps, home decorating lights, customized metal products and who can help in giving a different look to their house are very much in demand. Since Chinese lamps are being boycotted by many, it is the chance to make an entry in this market.

This is the opportunity for the entrepreneurs and startups to push their offers and discount or add on, to please more and more customers. For home décor, renovations, modification, people are going to look into the offers and discounts, which is why it is the time for entrepreneurs and startups to attract more customers.

  1. Home based therapies:

The hectic schedule and traffic not only exhausts physically but drains the happiness mentally also, which is why the startups which offer home based therapies, salon, spa and beauty cares, are likely to get their demands rising a lot, during these days.

People like to stay indoors, decorate house, get decked up and dolled up for the festivals, rather than killing time, stuck in traffic jams.

The home based therapy startups and entrepreneurs can use this time to make their customer base thick and rich.

  1. Home Delivery:

The apps and techs generation wants everything to come to their doorstep on just one touch, which is why the home delivery market is slowly growing into a mammoth.

 The startups and entrepreneurs, who work in home delivery market, are likely to be approached by small, medium and giant companies to get their products being delivered to the customers online.

  1. Online Food:

Any festival is incomplete without mentioning good food in the list, people have their menus ready for their guests, and online food service is going to be more in demand than anytime of the year.

People are going to order sweets, dry fruits wrapped a s gifts for their relatives and friends, special dishes, fast foods, all variety of food will be swiped in blinks. If this is not the time for food-preneurs and restaurateurs, then I don’t know what is.

Festival of lights will not only lighten and brighten up the lives of customers but also of the entrepreneurs and startups.

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