Paper Title :An Empirical Study of Challenges Faced by Startups in Mumbai Metropolitan Region

Author :Sanket Jack

Article Citation :Sanket Jack , (2022 ) " An Empirical Study of Challenges Faced by Startups in Mumbai Metropolitan Region " , International Journal of Management and Applied Science (IJMAS) , pp. 46-52, Volume-8,Issue-6

Abstract : There has been a massive growth of Startup companies globallyin the past 5-8 years. There is a lot of emphasis by these Startups to provide products and/or services which add immense value to a consumer‟s life. In India, Government initiatives from the central government and state governments have given substantial impetus to startup companies and encouragement to entrepreneurs to make India the number one destination for Startups globally. To achieve this vision the GOI had introduced a campaign called „Startup India‟ in 2015 which was aimed with the intention to give a strong impetus to Startups and promoting entrepreneurship(G Suresh Babu Suresh G. and Sridevi K. 2019). A 2018 study by IBM Institute for Business Value, in collaboration with Oxford Economics, suggests that 90% Indian Startups fail within 5 years of inception. Several authors have listed possible challenges that Startups face globally and specifically for the Indian market as well. This research attempts to review the challenges that have been observed by researchers in India and globally, and then identify the top 5 challenges faced by Startups from startup promoters and entrepreneurs in the Mumbai Metropolitan Region (MMR). Keywords - Startups, Startups in India, startup failure, startup challenges

Type : Research paper

Published : Volume-8,Issue-6

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