Framework for Social Change through Startups in India

Abstract

Capacity of a country to develop new science and transform it into innovative technologies and ramp them into successful, sustainable business that generate revenue, high-quality jobs and promote development is of paramount importance in today's world. Startups are an effective way of doing this. A startup is a temporary organization in search of a scalable, repeatable, profitable business model and a small startup founded by two or three entrepreneurs can produce and test the feasibility of tens of possibilities for a new business idea. Through grounded research and content analysis the objective is to have an overview of contemporary perspective on startups in India, enhance understanding of startup ecosystems and recognize the framework for social change taking shape due to Indian startups contribution to the national economy. The paper also attempts to understand the key success factors and provides commandments to further foster startups to optimize the social change.