Important Factors for the Scalability of Startups

India is now the third largest startup ecosystem in the world. According to reports, there are two to three tech startups that are being born in the country every single day. However, not all of them are able to achieve the soonicorn or unicorn status. In this context, we need to deliberate on what are the challenges that startups face in terms of funding, infrastructure and policies, and what is the support that startups need in order to scale. 

In regard to the same, Sudha Rangarajan, Senior Vice President, Strategy and Capital Raise, Yubi recently spoke to Vikas Bhonsle, CEO, Crayon Software Experts. The insightful discussion was steered and moderated by Prabhu Ram, Head- Industry Intelligence Group, CyberMedia Research. The conversation was focussed on a range of issues that weigh down the startup industry, and the experts also provided unique insights on how to navigate those challenges.

While Sudha Rangarajan spoke about the factors for startups’ scalability, challenges faced in the scale up mode and how to navigate them as well as about how startups can sustain the growth momentum, Vikas Bhonsle gave a view of the elements that startups should focus on during their scale up phase, how start-ups must address people, process and technology in its scaling phase, and how solution providers can help startups in addressing these challenges, and in facilitate learning of new tech to keep up with advancements. 

The some of the predominant messages that came across throughout the interaction are:

• Successful start-up founders prioritize results and customer satisfaction.
• Companies that emphasize talent, customer-centricity, and core principles are most likely to succeed.
• The core pillars of strength will be the product which is market fit, capital and good marketing. 
• Management needs to role-model the entrepreneurial attitude it expects from talent and ensure everyone’s commitment to the company’s unique culture.