April 2023

Mohammad Anas Wahaj | 29 apr 2023

Even though India is on a development and growth path, but there are areas that require special attention particularly the social issues like poverty, unemployment, gender inequality, and environmental degradation. According to the Lancet study 'Progress on Sustainable Development Goal (SDG) indicators in 707 districts of India: A quantitative mid-line assessment using the National Family Health Surveys, 2016 and 2021' (Authors: S.V. Subramanian of Harvard University, Mayanka Ambade of Laxmi Mittal and Family South Asia Institute India, Akhil Kumar of Harvard University, Hyejun Chi of Korea University, William Joe of Institute of Economic Growth India, Sunil Rajpal of Korea University, Rockli Kim of Korea University), India is not on-target for 19 of the 33 SDGs indicators. The critical off-target indicators include access to basic services, wasting and overweight children, anaemia, child marriage, partner violence, tobacco use, and modern contraceptive use. For these indicators, more than 75% of the districts were off-target. Because of a worsening trend observed between 2016 and 2021, and assuming no course correction occurs, many districts will never meet the targets on the SDGs even well after 2030. Abhishek Dubey, founder and CEO of Muskaan Dreams, suggests that India needs more social impact entrepreneurs to make a positive difference in society. Social entrepreneurs are capable to put their talent and energy for social causes that they value along with generating revenue and profits. The are well suited to contribute effectively to India's growth story for following reasons - (1) Tackling social problems at scale (2) Promoting inclusive growth (3) Solving environmental challenges (4) Innovating for social impact (5) Bridging the gap between the public and private sectors (6) Creating sustainable ventures. Read on...

Forbes: Why India needs more social entrepreneurs
Author: Abhishek Dubey

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Mohammad Anas Wahaj | 28 apr 2023

Entrepreneurial ecosystem is essential for thriving economy as it creates jobs and wealth. According to the 2022 Global Startup Ecosystem Report (GSER2022), US$ $6.4 trillion of value creation happened due to global startup economy. The GSER2022 ranks startup ecosystems on seven success factors, including performance and talent and at the top are - Silicon Valley, New York City, London, Boston and Beijing. First Site Guide puts USA at the top country with 71153 startups and there over 69% of entrepreneurs having started their business at home. India is the third largest startup ecosystem with 107 unicorns (valuation of US$ 1 billion or more) and a a total valuation of $340.79 billion, as of 7 September 2022. By 2025, India is expected to have 250 unicorns. GSER2022 reports rise in Indian ecosystems ranking - Delhi entered top 30 and now is at 26, up 11 places, while Bangalore has moved up one place and is at 22. According to Global Entrepreneurship Monitor (GEM) India Report 21-22, India’s entrepreneurial activity expanded in 2021, with its total entrepreneurial activity rate(% of adults aged 18–64 who are starting or running a new business) increased to 14.4% in 2021, up from 5.3% in 2020. India has the highest fintech adoption rate in the world at 87%, the global average rate being 64%. India’s largest share from fintech startups is through ‘payments’ and is followed by lending, wealth tech, personal finance, insurtech, regtech and others. Government of India's 'Digital India' also boosted the adoption of fintech. Read on...

Financial Express: Global Growth of entrepreneurship; India not far behind
Author: Archie Bandyopadhyay

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