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Critical Success Factors for Startups : A Study on Mumbai-Pune Region, Maharashtra, India


Affiliations
1 Director, Innovation, Incubation & Linkages, Centre for Innovation Incubation & Linkages, Savitribai Phule, Pune University, Ganeshkhind Road, Pune - 411 007, Maharashtra, India
2 Assistant Professor, Economics Department, Gokhale Institute of Politics and Economics, (Deemed to be University), 846, BMCC Road, Fergusson College Campus, Deccan Gymkhana, Pune - 411 004, Maharashtra, India

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India featuring in the top five largest economies in the world relies heavily on the success of startup business enterprises for continuous economic growth and employment generation. Government of India through Startup India Initiative since 2015 has increased its focus on creating an inclusive environment for the growth and success of Startup Business Enterprises. This has shown positive outcome in terms of number of new startups and the amount of investment flown to this crucial sector of the economy. The present study was an attempt to understand the key success factors for startup in India through a study on selected startups in Mumbai-Pune region of western India, the traditional manufacturing and financial capital of India. Our analysis using the various ranking methods and Analytical Hierarchy Process helped us to identify entrepreneurship as the major success factor for new startups in India. This has larger policy implication for the promotion of entrepreneurship in this crucial sector.

Keywords

Entrepreneurship, India, Startups, Success Factors.

Paper Submission Date : April 5, 2021 ; Paper Sent Back for Revision : May 16, 2021 ; Paper Acceptance Date : June 5, 2021.

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  • Critical Success Factors for Startups : A Study on Mumbai-Pune Region, Maharashtra, India

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Authors

Apoorva Palkar
Director, Innovation, Incubation & Linkages, Centre for Innovation Incubation & Linkages, Savitribai Phule, Pune University, Ganeshkhind Road, Pune - 411 007, Maharashtra, India
K. S. Hari
Assistant Professor, Economics Department, Gokhale Institute of Politics and Economics, (Deemed to be University), 846, BMCC Road, Fergusson College Campus, Deccan Gymkhana, Pune - 411 004, Maharashtra, India

Abstract


India featuring in the top five largest economies in the world relies heavily on the success of startup business enterprises for continuous economic growth and employment generation. Government of India through Startup India Initiative since 2015 has increased its focus on creating an inclusive environment for the growth and success of Startup Business Enterprises. This has shown positive outcome in terms of number of new startups and the amount of investment flown to this crucial sector of the economy. The present study was an attempt to understand the key success factors for startup in India through a study on selected startups in Mumbai-Pune region of western India, the traditional manufacturing and financial capital of India. Our analysis using the various ranking methods and Analytical Hierarchy Process helped us to identify entrepreneurship as the major success factor for new startups in India. This has larger policy implication for the promotion of entrepreneurship in this crucial sector.

Keywords


Entrepreneurship, India, Startups, Success Factors.

Paper Submission Date : April 5, 2021 ; Paper Sent Back for Revision : May 16, 2021 ; Paper Acceptance Date : June 5, 2021.


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DOI: https://doi.org/10.17010/amcije%2F2021%2Fv4i2-3%2F164698