A tech
startup is a company working with the purpose of bringing technology products
or services to market. It delivers new technology products or services or
delivers existing technology products or services in new ways.
Challenges faced by tech startups in
India
With technological
advancements and constant pressure to come up with something unique or improve
the existing product tech startups are working on research and development. Some
of the most common challenges faced by Tech Startup News are:
Making people
believe in your idea: For most product-centric
startups find it tough to convince customers about the value addition a product
provides. Before the actual development a research around the target group,
product feasibility, and market acceptability needs to go.
Building a Team & Managing: Building a team is a challenge for technology-based startups as professionals
prefer not making the switch to startups from corporate due to the absence of
benefits and incomparable pay scales.
Infrastructure, Ecosystem + Policy Challenges: One of the major challenges for a startup is of
the infrastructure and policy ecosystem as it is required to nurture the growth
of tech-based startups.
Funding: In order to raise funding for a tech startup it’s
important to interact with venture capitalists or institutional investors, to
define and plan your idea. Possessing a well-defined revenue stream and the
ability to effectively showcase it is the deciding factor when it comes to
getting a fund for a startup.
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