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Top 10 Startup ideas in India. Start-up ideas that have earned crores for Indian entrepreneurs
Why should you begin a Startup?
Are you someone who is interested in starting your own business enterprise instead of working for someone else? Well, then its time that you begin your own startup. Its often said that Human capital is more important than physical capital. If you have the right business idea and the entrepreneurial acumen and hardwork, then you can really reach great heights with your own startup. Monetary investment is least concern for startups today and private entities are interested to invest in new ventures and government is also ready to give incentives in the form of tax cuts and subsidies. It's incredible to hear that a bunch of youngsters based in Madhya Pradesh have started the second largest content generation site in the world. Today, their revenues run into millions of dollars!!
Top 10 Startup ideas in India. Business ideas for Startup companies in India
Started by group of friends as tiny ventures, many startups have now grown to be billion dollar enterprises today. Even Facebook was once a startup. All you need is an innovative business idea and the Will to continue working towards your dream. Today, Startups are the most talked about in the industry. Angel investors are willing to invest in Startups today. Even Conglomerates like TATA have invested in Startups. Government has provided an enabling atmosphere for Startups in India today. Under the “Startup India” mission, government is providing support and concessions to entrepreneurs. Rules have been framed to enable Crowdfunding for Startups. Many incubators are being implemented to develop a friendly startup ecosystem. Tax concessions are provided for angels.
Today, most Startups are into e commerce. Flipkart, Snapdeal etc were once little startups in the e commerce domain. Infrastructure capital costs are least in case of e commerce business. The entire business can be conducted online. Today, e commerce firms are banking on innovative products to boost their sales
One of John's other useful hubs
- How to start a Rural Bpo in India?
You can find details on how to start a Rural BPO in my hub here
IT Startups are the most predominant in India as India is a world leader in IT service. 10,000 Startups is an initiative of Nasscom which aims at creating 10,000 IT Startups in India. If you have experience working with MNCs in the IT sector, you could start your own Rural BPO. There is a lot of scope for Rural BPOs in Tier 2 and Tier 3 cities in India. You get good skilled, English-proficient youngsters from semi-urban pockets in India. Manpower cost is also low. Cost for setting rural BPOs is comparatively less and government is also providing concessions for such startups. Indian government has introduced the India BPO promotion scheme(IBPS) through which you avail various benefits like Tax incentives and capital subsidies. Rural BPOs can also avail benefits under the "Digital India" and "Startup India" programmes of the government.
Education is a major domain in India today. There is a huge rush for entrance coaching for exams like JEE, CAT, AIIMS etc. Youth also want to crack job based competitive exams like Civil services, Banking, Railways etc. You could begin a startup offering coaching for such exams. Edukart is example of a successful Education startup in India
Foreign language coaching is also a profitable business in India. It’s not necessary to invest much in infrastructure capital cost as far as education startups are concerned. Training can be provided even from far-away areas via video conferencing facility.
Skill Training Startups
The government of India has embarked on an ambitious initiative to skill 500 million individuals by 2022. There is great opportunity for entrepreneurs to run skill training centers in India. One of my friends runs a Job-oriented skill training course for diploma holders and engineers in Chennai at a reasonable fee. It has benefitted hundreds of students from semi-urban and rural areas as they cannot afford costly training. They are all now placed in good jobs. IPintentio is a skill training startup by IIT-B alumni. iSTAR is another skill training startup
Skill startups have to provide facilities like Virtual lab, Telementoring, feedback from experts, exposure with industry players, etc. Career counseling and corporate training can also be provided
Car rental/aggregator firms are fast becoming popular in Indian cities. Car pooling has also become popular due to government emphasis on air pollution and vehicle reduction. Wheelstreet.in, a bike rental/aggregator startup has already mopped up more than Rs 3 crore
There is great scope for agribusiness in India in future. Through agribusiness startups, you can eliminate middlemen and brokers and engage directly with farmers. Today, some startups have already made inroads in agribusiness. A group of youth with knowledge in agribusiness can provide Marketing assistance to farmers. You could setup a call centre and provide assistance for marketing farm produce. You can provide knowledge extension service i.e technical advice on seeds, fertilizers etc. You could arrange logistics and transportation facilities. Farmers will happily avail your services if you provide these at reasonable cost.
End-to-end solutions: You can provide an array of products/services to farmers viz, rent/lease Farm equipment, provide warehouse/cool storage facilities and provide marketing assistance. Many entrepreneurs have started organic manure plants using agri-residue sourced for farmers themselves.
In the coming years, food processing would be a huge industry in India. Government is already planning Mega Food parks in many states. Startups are being invited in such food parks. Food processing sector has a huge export market too. Food processing startups can avail cheap labour in India and provide employment to many people, especially women. Some years ago, the once popular Paneer Soda almost disappeared. It used to be prepared in households. Today, the same Paneer soda is being sold in branded form
There is a huge market for Preservative free-cereals, millet-based foods and Ready-to-eat items like Ragi and instant dosa mixes.
Organic foods: Many startups have tied up with roof top home producers to supply organic produce to people. Many e Commerce firms are selling Organic produce online
Startups like Patanjali foods are a huge hit not only in India but also abroad. There is a big demand for organic/herbal foods in India today. Herbal cosmetics can be sourced from home producers and marketed online
Startups like Attero Recyling, Karma Recycling etc have been making huge money in the recycling business. They handle about 500 tonnes of waste annually. Waste management firms typically collect waste from homes if the customer makes a call. Then they will segregate the waste and recycle it. Useful products are produced out of solid and municipal waste. Plastic is segregated and supplied in bulk to contractors for Road laying. Plastic waste is also used for making decorative items. Degradable waste can be provided to plants waste-to-energy plants
E Waste management entrepreneur
Many people are unaware of e Waste management but this is one of the most lucrative businesses in India. Being an e Waste entrepreneur, one can source e waste from corporate as well as retail customers and recycle them. Precious materials like Gold, Silver, copper etc are sourced from e Waste. Successful e waste entrepreneurs make at least Rs 1 lakh per month.