Gurgaon startups facing lack of skilled manpower, varied market forces
More than 200 startups exhibited their products and services at the venue. The startups — from health, education, travel, lifestyle, finance, technology, and social media — featured in the expo.Updated: Aug 23, 2017 20:25 IST
Young entrepreneurs who were enthused two years ago with boom in the startup world are now facing challenges to sustain in the market.
Lack of skilled manpower, absence of solid team, weak knowledge of correct products and varied market forces are some of the challenges that startups are grappling with in Gurgaon and other cities.
“What is lacking is knowledge of correct product. Not having a solid team is also coming in the way of running startups,” Aayush Poddar, CEO and co-founder of Daily Suvichar, a 10-month old Gurgaon startup dealing in yoga and spiritual network, said.
Speaking on the sidelines of a one-day Startup expo organised at Udyog Vihar on Wednesday, Poddar said many startups wound up due to lack of a strong team. “It requires team work, as a startup cannot be run by a single person. The idea behind our startup came from my friend, who is also its founder. However, all members of our team have to work together for its success,” Poddar said.
But has the startup boom gone bust?
“No, the startup boom is still very much there. However, there is need for proper implementation of the idea and understand the demand in the market,” Shashank Shekhar, co-founder of Approprice, a Noida-based one-year-old startup, said.
More than 200 startups exhibited their products and services at the venue. The startups — from health, education, travel, lifestyle, finance, technology, and social media — featured in the expo.
“Prices are a big challenge for startups. Keeping customers happy is another challenge that we face,” said Abhimanyu Singh Yadav, CEO and founder of one-year-old Gurgaon-based startup P Nut, which deals in healthy food based on a person’s requirements.
Singh said they have to assess a consumer’s health needs and deliver food accordingly. Here, cost plays an important role and the entrepreneurs have to keep in mind market forces, he said.
Geetika Dayal, executive director of The Indus Entrepreneurs (TiE Delhi-NCR), said the startups suffered hiccups after the boom, but passion among founding members is still there.
“Delhi-NCR is the focus area of startups. A lot of action is happening in other cities, but there’s more diversity in startups in Delhi-NCR. There are challenges of finding right employees, co-founders, raising funds, and understanding the market,” Dayal said.
Dayal said the startup ecosystem is evolving fast in Gurgaon due its connectivity to Delhi.