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Role of Startup in Economic Growth

The document discusses the role of startups in economic growth. It defines startups and outlines how they create jobs, disrupt industries, boost economic prosperity through innovation and technological developments, and improve standards of living.

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saswatimansingh20imba061
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21 views11 pages

Role of Startup in Economic Growth

The document discusses the role of startups in economic growth. It defines startups and outlines how they create jobs, disrupt industries, boost economic prosperity through innovation and technological developments, and improve standards of living.

Uploaded by

saswatimansingh20imba061
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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ROLE OF STARTUP IN ECONOMIC

GROWTH

PRESENTED BY: SASWATI MANSINGH


AGENDA

 Definition of Start up
 Importance of Start up in economic Growth
A. Job creation
B. Industry Disruption
C. Economic Prosperity
D. Developments and Innovations
E. Better Standard Of Living
 Conclusion
DEFINITION OF
STARTUP

 Startups are defined as newly established ventures that aim to bring


innovative ideas and solutions to the market.
 They are characterized by their innovative and disruptive nature ,
seeking to solve problems in unique ways.
 Startups often operate with limited resources and focus on rapid
growth and scalability.
 Their entrepreneurial skill and ability to create new markets and
industries make them key drivers of economic growth and innovation.
IMPORTANCE OF
STARTUPS IN
ECONOMIC
GROWTH
A. JOB CREATION

 Start Ups are new organization or entities which needs new manpower
to operate
 This results in new job creation.
 By creating new businesses , startups generate employment
opportunities , helps to reduce the unemployment rates and stimulate
economic growth.
B. INDUSTRY
DISRUPTION

 Startups are not just participants in the economy ; they have the
power to disrupt entire industries.
 Their innovative solutions challenge traditional models and force
established companies to adapt or become obsolete.
 By identifying gaps in the market and introducing disruptive
technologies and business models , startups bring fresh perspectives
and dynamic competition , ultimately driving industry innovation and
continued economic growth.
C. ECONOMIC
PROSPERITY

 Startups boost economic activity that helps the nation to expand.


 In addition to this, it also maximizes profits through technological
innovations.
 This eventually improves the GDP of an economy and transfers
money into the hands of the customers.
 It brings competitive dynamics to the economy to encourage existing
businesses and adopt newer technologies.
D. DEVELOPMENT
AND INNOVATION

 Older businesses or industry leaders are more inclined to spend money on


incremental innovation and R&D on already established technologies.
 While startups are more concerned with cutting-edge innovation and
innovative technologies.
 Startups are more agile and able to develop a concept into a product and
update it in response to customer demand with quicker decision-making
communications as they are not constrained by a multi-layered corporate
bureaucracy.
 Employees are driven to go above and beyond to succeed by the high risks
involved.
 Giant corporations, like Google and Microsoft, frequently buy out startups
to better innovate and increase sales through their size and distribution
networks.
.
E. BETTER
STANDARD OF
LIVING
 The level of living for people in society is raised through start-ups.
 New ideas and technologies introduced by start-ups contribute to
raising the level of living in the community.
 For instance, a business that makes healthy products contributes to
raising the standard of living of its customers by providing
solutions for their health.
 When they employ people, they also provide a higher standard of
living.
 They contribute to their improvement because they now have jobs
and can support themselves.
 To develop quickly, generate more jobs, and ultimately raise the
standard of life of people via their innovations and creativity,
successful start-ups must have ambition and potential.
CONCLUSION

 Startup plays a crucial role in driving economic growth by fostering


innovation , creating jobs and contributing to technological
advancements.
 Through various support system and resources such as government
programs , incubators , accelerators and collaboration with
established companies , startups can thrive and make a significant
impact on the economy.
 It is essential for governments , investors and organizations to
continue supporting and nurturing the startup ecosystem to ensure
sustain economic growth.

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