India is home to the world’s third-largest start-up ecosystem, having added over 1,300 tech start-ups in 2019. As per the Nasscom report, India will have 95 to 105 unicorns by 2025. Start-ups are bringing new jobs and as data suggests, startups created 60,000 direct jobs in 2019 alone, compared with 40,000 jobs in 2018.
“However, like any other business, running any start-up business is full of risk. Especially in a start-up business, the risks are multifield as its arise from uncertainty about various aspects of the business – a risk about the viability of the business, customer preferences, technology on which business will rely, what will the customer preferences in the future be, overall policy and economy situation, existing and future competitors, etc.”, says Mr. Bharat Panchal, Chief Risk Officer – India & Middle East at FIS Global.”
Therefore, it’s very much crucial to be aware of the risk that one has to manage and prioritize them appropriately for specific risks which are unique in a start-up business.
As seen, Start-up business is mostly lead by very young entrepreneurs who are less averse to risk and often ignores them. While it is good initially, as the business grows, the entrepreneur should be cognizant of the risks that the business may face or already facing. It’s a time to take an informed call about which risks need to be mitigated and to what extent.
“Equally important is raising funds by the founders. Therefore, in thsi exclusive session we have a StartUp Founder CEO of PayNearBy – Mr. Anand K Bajaj and CIO of Investment Trust of India – Mr. Mohit Gulati.”