Becoming an entrepreneur or launching a startup is a dream of everyone. Nowadays, what is going in the Indian ecosystem should be well known by the entrepreneurs to facilitate the Indian Economy positively as well as selecting anyone from the 7 Skyrocketing Sectors of the Indian Startup Ecosystem; growing sector as the most important aspect for every startup. Selecting the adequate sector not only helps to be easily successful but also attracts the international market to invest in your idea.
Analysing top startup business plan is a must before investing in any sector, it can increase your profit ratio and lower risk.
If you are investing in any of the skyrocketing sectors you will be able to obtain government support because these are the specific sectors where the Indian Government needs help to attract foreign investment. Mostly after the pandemic, if you have the capital to invest in these below sectors; your startup will flourish more smoothly compared to any other startups.
7 Skyrocketing Sectors of the Indian Startup Ecosystem
Health: Startup Sector
This is the worse affected sector of India, where private hospitals are more successful than government hospitals. It is due to the facilities provided by the private hospital is unmatched, nowhere in India a government hospital can fulfil the demands of hospitalization services alone and India needs a big hand to provide hospitality to its citizens.
Secondly, medical laboratories are required to manufacture and develop medicines on a large scale to bring down the cost of medicines that are sold in the Indian market. Currently, there are two medical laboratories, Ayush Laboratory and Patanjali Laboratory which are a great helping hand to the Indian Ecosystem in terms of medical research. So, from this, we can conclude that medical laboratories are lacking very badly in India, and investing in this sector will provide positive outcomes only.
And the last one is, making the medicines and medical services easily available to Indian citizens. There are few, but still, they are not capable of capturing the market well and lack delivery in many locations, pan India. Delivering medicines pan India requires a bond with local markets and you just need delivery support with a managing system to accomplish it.
So, the Health sector in India is lacking behind and needs instant support to fulfil the needs of government and citizens at a faster pace.
Logistics: Startup Sector
Digital India indirectly supports the growth and requirement of Logistics in India, to deliver all the services at the doorsteps of the citizens. Logistics as a startup is always growing investment because day-by-day it is increasing and tackling the requirement of delivery partners major companies like – Amazon, Flipkart, Snapdeal have developed their own industry in logistics for the delivery of their own products. But all other companies are mostly dependent on private Logistics companies to avoid unnecessary management by creating additional firms for logistics.
Nowadays, many new startups are launching a new product in the market which requires delivering the product to his customer’s home, and for this the demand for logistics increases. As soon as a startup regarding any product is introduced in the Indian market; it creates opportunities for Logistics companies.
Therefore, in India, logistics is directly and mostly indirectly gains profit from all kinds of startups.
Finance: Startup Sector
India, after digitalization, has thrown the biggest challenge in the market to facilitate every citizen to do banking and finance online; regarding this, the government has launched the campaign of Cashless India which instantly required online services which have been achieved by any kind of mobile application or web services. Providing Indian citizens, all the banking and finance facilities in one place.
Currently, there are few companies like – Paytm, PhonePe, Google Pay, and a few more are in the finance sector to provide facilities to the people. But still, in India, we can consider only three (Paytm, PhonePe, and Google Pay) of them to be established, others companies like – Mobikwik, Airtel Payments Bank, etc. are there to provide the services but lack the easiness to achieve the banking and finance tasks or they are complex and looks faded out.
Therefore, there is a good opportunity to get indulged in this field to get a successful start in the Finance Sector as a startup. But there are few guidelines which one should follow-:
- Lightweight Application or Web Services
- Minimal required facilities, i.e., do not junk the interface
- Attractive interface
- High security
- Faster loading time
To be successful in the finance sector you need to have these 5 guidelines to attract customers to your financial services.
Travel: Startup Sector
The Travel Sector in India has been the always growing industry at a constant pace. This sector donates the Indian economy from both the Indian and International markets and makes it easy to get consumers from around the world. The travel Sector has a competitive market in India in terms of providing quality service at cheap rates. There are two startups you can get to choose from – one is Online Tourism Services and the other is Travelling Channel.
Online tourism services are pretty much easier to consider as a startup; you can see the examples of MakeMyTrip, Goibibo, Ixigo, and many others like these which facilitate booking facilities and availability regarding trains, flights, hotels, and interstate taxis. This is a small startup with slow and confirmed growth; the growth of online tourism services directly depends on your digital marketing skills.
Secondly, Travelling Channel, at the start it requires a large investment to set up the channel, hiring staff, bearing travel expenses, and hardware. Investing in this startup requires a large amount of investment at starting but as soon as your viewers increase you get a helping hand in the form of sponsors. The ultimate success is large in terms of earning money and fame; here you do not need to work on marketing at a larger scale.
Therefore, these are the two different types of a startup if you consider the Travel sector, both are totally different from each other. One can choose any of the two depending upon the initial capital investment.
Education: Startup Sector
Undoubtedly, about the scope of the Education sector after the pandemic of Covid-19; India tremendously shifted to online classes and education to encounter the endangerment of illiteracy of Indian students but no one knew that it would turn out to be the most acceptable form to teach students. Due to the huge requirement of an online platform to conduct classes, and most of the specialization courses are selling their packages online. But to cater to this all everyone needs an online platform.
Few already ongoing examples are – Byju’s, WhiteHatJr, Toppr, and Vedantu. To set up this startup you need an application and a website; other staff like teachers you can hire online on a contract basis, but to be successful you need the help of digital marketing. This kind of startup requires smart work over hard work so it is best to have a management team to carry out specific tasks, and once the setup is done you only need to bear the expense.
Investing in the Education sector online is the best as compared to managing and operating a school, college, or university and the scope of offline education will soon be changed to online education. So, the Education sector smartly holds the future of India.
Consumer Services: Startup Sector
Consumer Services are the only startup which does not require much involvement or bonding of multiple small industries and companies; here you need to cater to the consumers with their daily need items, i.e., grocery and cooked food. From here we can conclude that this kind of startup is straight and simple to set up. The two sub-categories of consumer services are – providing grocery to people or delivering cooked food to consumers at home; examples of existing consumer services are – Zomato, Swiggy, Amazon, Groffers, etc.
If you choose to enter the grocery delivery sector then you need to bind and build your own grocery store with a mobile application where people can access your grocery market online and order the required items which will be delivered to their home. Here, you can connect farmers with your business or have your farm later on. This requires just a delivery partner bonding so that you can send the items to the desired location.
And the other is delivering cooked food, which requires only a management team with your mobile application where people can order food online. To do this, you need to bind the local restaurants with your company and this should be done on a contract basis of 6 months or yearly, whichever will be suitable for both the restaurant owner and you. In the starting, you will need a little help from digital marketing to boost your business quickly.
Big Data: Startup Sector
The out of the box startup sector and almost required by any existing or upcoming sector in the world. It is the most advanced IT sector which helps to process the bulk data for obtaining the information which will be profitable for an organization. The Big Data Sector is developed and supported by AI, making the raw data into a useful one.
To consider this as a startup you are required to set up an office and hire employees who know who to work on big data software. Once you are set with this you need to find clients; at starting you need to approach clients but sooner you will be able to get clients worldwide. If we talk about the scope then it is seamless, just because of the reason every company or industry requires refined data on which they can work to improve themselves.
Last but not least, if you are thinking to invest in a startup then you must go with these 7 Skyrocketing Sectors of the Indian Startup Ecosystem; because these sectors have great future as well as instant demand; due to which you will not need to wait for your success for much longer period of time and the risk of failure is almost 0%.
Thinking to build your next profitable business with the least investment in India this will help you click here!