Technology and Today's Startups

India is a young nation, one in which there is a tremendous amount of talent and ideas that the youth want to put into action. The youth of the country is also highly tech savvy, wherein they want to see results as efficiently and as effectively as possible, making them lean more towards unconventional methods to see these results. This is why we now see a drive to boost technological advancements by government bodies in India as well. The start-up industry in India is a highly competitive market, seeing the implementation of constant changes. It is a dynamic world, full of ideas and innovations, solving everything, from our day-to-day problems to industry specific problems.The author gives us insight into the driving force technology is able to provide in the growth of the start-up ecosystem in India.  The first question to be answered is; what is technology? A term often misconstrued, ‘technology’ is the application of knowledge and information in the production, design, utilization of goods and services, and in the organization of general day-to-day activities. Two of the most impactful changes it brings to this ecosystem are:a)  Innovations: The fact that technological innovation makes consumers want new types of products, it causes businesses to adjust their operations to meet these new market demands. Businesses then integrate new technologies into their daily operations; production cycles and provides new products.  Driven by a consumer’s desire for more convenient services, businesses compete with each other on the basis of their pace of innovation and their methods on adoption of new technologies. b)  Business Accelerations: Through improving processes and developing worker skills to product developments; technology increases productivity of business operations. Online customer service options, customer support pages etc, reduce the need for personal attention and increase the productivity in these areas without entirely sacrificing the customer experience.  Due to online data transfers in the ever-changing technology world, new businesses operations tend to move ahead at a faster acceleration rate once the difficult part of incorporating and correctly obtaining all the required legal documentation. Some online legal service portals offer clients innovative options to complete these tasks quickly, such as making payments via EMIs. From an operations perspective, technological acceleration forces companies to move faster to meet consumer demands by providing the tools for them to do so. The Future of India’s Start-Ups: India has seen a large number of start-ups cropping up across the country in this past year, and this number will continuously keep moving higher after the recent announcement of the Unions Budget 2016’s changes in incorporation, labour laws and tax holidays for start-ups. Start-ups are only going to continue entering the scene with an extremely focused and customer centric approach to streamline all of the processes involved in starting up. From a client’s perspective, this is great news because it drives down their costs. In an industry where time is quite literally money, we see that the more there is innovation in this industry, the more there will be competition, leading to an increase in the number of start-up CEO’s within this ecosystem.