Page 21 - Connect 2022-23

There are 3 major perspectives which was
observed during Pandemic:
1. In the time of crises (Pandemic)
digitization & automation accelerated the
efficiency & profit trends.
2. Change in psychological and behavioural
pattern as in case of hygiene factor and
shifting to healthy & sustainable choices.
3. Societal Debate and conflicts due to
clash of opinions related to vaccine and
income disparity.
The Lockdown gave birth to Work from
Home / remote work approach which led to
increase in online traffic and development
of software. Schools & Colleges shifted to
online education. E-commerce market
boosted. This outbreak has highlighted
the importance of well-being. The new era
bought ’B2E- Business to Everyone concept’
which is about building every activity they
do around the people. It is about providing
more human centric approach, purpose-
driven management, trust from the society.
Digitization, cross-sector collaboration,
localization, and the importance of inclusive
business are four long-term tendencies for
the post-COVID economy. To summarise, the
MSME sector potentially have an essential
role in allowing a durable and inclusive
post-COVID recovery and supporting
India’s aspiration to become a USD 5
trillion economy by 2025, mainly if targeted
assistance measures are implemented.
The Business Trends which have shaped
the New Era of Entrepreneurship:
A. Subscription Based Business Models
B. Mobile Optimization
C. Crypto Acceptance
D. Shift towards Green Business
E. Rise of Analytics & Artificial Intelligence
F. Digital Marketing & Re-marketing
Entrepreneurs in India saw less of an
existential danger from the pandemic than
those in China, Bangladesh, and Pakistan.
Another macro view is the dedication to
social responsibility, Bangladesh and India
topping worldwide comparison for providing
pro bono commercial services during the
pandemic.
Hence, Entrepreneurs in India have beatan
all odds through their Business Resilience
ability. They have quickly pivoted with the ‘New
Normal Policy’ and leveraged their business.
They quite understood an assignment of
shift in the paradigm. Customers had a
demand but the approach to reach them
had to be different. Tech truly became a
part of infrastructure. Apart from turning
digital, technology has been prevalent in
all industries, including manufacturing,
agriculture, education, healthcare, and
retail. And as technology advanced, deep
tech such as IoT, A.I., data analytics, and so
on rose to prominence.
The year 2020 was also known as the
Year of the Unicorn. Throughout the year,
11 new unicorns emerged, including Nykaa,
Unacademy, Zerodha, Razorpay, Postman,
and others.
The startup environment was tremendously
active- investments increased, particularly
for seed and angel startups, and investors
witnessed exits and profits.
One year after the lockdown, we are
witnessing a wide range of inventions
across several industries, high-quality talent
turning entrepreneurial, and angel / early-
stage investors signing checks.
Obviously, the Indian entrepreneurial
ecosystem is at a tipping point: it is ready
to develop substantially and surpass the
United States as the third largest startup
environment! More importantly, startups
are becoming the largest employment
and value generators in India, assisting the
country in becoming “Atmanirbhar.”
Priya Agrawal
17 2022-23