The start up eco system has evolved over the years with new trends and ideas setting in every year with a view to render the environment friendlier for entrepreneurs and investors. Having said this, it is important to find gaps that can be filled up to create a better eco system. One trend is rich business men, successful entrepreneurs; big companies are investing in start ups to boost the entrepreneurial environment. Already big names like Tatas, Infosys, Reliance all have invested into promising start ups which show potential of good return in the future.
Another initiative is the co-working hubs that provide space to work together and network. Though co-working hub is quite an old trend now but what is striking is that the co-working industry in India is undergoing a disruption and gravitating towards large companies as well as small and medium enterprises to improve their prospects for growth and stability. This concept is getting a lot of impetus because of the majority feeling that by sitting next to start ups the start up culture rubs off on them. Networking is another element that gets a direct boost through co-working spaces. The current statistics reveal that the co-working industry stands at 12-16 million, of which the biggest chunk, 10.3 million, is attributed to large companies, 1.5 million to SMEs, and another 1.5 million to freelancers. Start ups form the smallest of the lot at 1, 00,000 seats.
The owners of co-working spaces feel that customers in the future will include a mix of individual freelancers, startups, small and medium enterprises, and larger companies. Co-working spaces also reduces the cost of large companies on real estate by 15-20%. Hence, co-working space becomes a new segment of business in itself not just attracting start ups but also SMEs, large organizations etc. This allows the SMEs to offer better and modern work space for the employees.
Keeping these trends in mind, the start up environment in context of North East Region can follow in the same footsteps. Industry associations here in Assam or NER can play a key role to boost the entrepreneurial scene here. SMEs, larger business groups etc. can come forward to invest in start ups and provide the needed support. In terms of incubation, co-working spaces also the industry associations can collaborate with various organizations and provide co-working hubs to the start ups that are cropping up across NER and the facilities can be availed by SMEs and other companies too who are willing to network, grow and scale up. Thus, the various organizations, industry associations, SMEs, large organizations all can contribute towards a holistic all round development of the start up scenario.For start-ups in India,family offices are becoming a crucial pool of funds between angel investors and VC funds.