Startup Business Idea # 9 Startup Cafe: Because There Never Should Be A Shortage of Ideas
John Heywood once said, “two brains are better than one.” Now, imagine how successful a brainstorming session would be where an entire group of brains is working together?
In multiple of our articles, we’ve mentioned the two most important things to build a successful business; passion and a great idea. Being an entrepreneur is no easy feat, and if you’ve made up your mind to endure these challenges, then you most definitely have the passion. But what about the idea?
In this article, we present another million-dollar idea, a startup cafe that beings like-minded entrepreneurs together!
The Market Potential
Almost every report, study and publication that makes predictions about countries that are most likely to dominate the global economy state that Asia’s rising giants, China are India are usually near the top. As of now, these two countries combined comprise one-third of the entire world’s population.
That being said, when it comes to the entrepreneurial industry, few countries have more potential than India. Not only is this country the center of IT offshoring firms since the early 2000s, but it is also home to some of the most prominent tech startups, including Paytm, Oyo, Freshworks, and of course Flipkart, which was recently sold to Walmart for a whopping $16 billion.
These startups that have become a rage in India are highly beneficial for the overall economy of the nation. According to a study published by the Indian Government, Micro, Small & Medium Entreprises (MSMEs) contribute to more than 8% of the entire country’s GDP. Moreover, small companies also create over 1.3 million job opportunities every year and provide one of the largest share of employment, second only to agriculture.
Hence, it’s safe to say that the entrepreneurial spirit is alive and well! However, out of many startups that launch every year, very few attain success.
The Gap
As of 2019, the U.S. has registered a little over 23 million small businesses. In comparison to this superpower, India has almost twice as many, with over 48 million registered startups. However, many of these startups shut down within five years since their inception due to multiple challenges like securing finance.
There are so many examples wherein an entrepreneur has a great idea, however, lacks funding. On the other hand, an entrepreneur has the funding; however, there is no demand for their product in the market. Basically, due to the lack of networking options, companies don’t realize that all their problems can be solved by partnering or collaborating with one other. These problems aren’t just limited to financial issues, including technical shortages, structural challenges and even legal issues.
In such situations, what if a person who is looking to invest 50 lakhs meets multiple people who are looking for funds for brilliant startup ideas? That’s where The Startup Cafe becomes a revolutionary platform!
The Opportunity
Imagine you have a brilliant idea but haven’t worked out all the details yet. It’s quite a common scenario. A great idea always needs to be fleshed out properly, which can be done well if you get some insights from other people, especially if they have relevant experience!
The Startup Cafe is a networking session conducted on an hourly, daily, or weekly basis wherein entrepreneurs or people aspiring to be entrepreneurs can discuss their ideas or challenges. This will allow them to either find a solution or like-minded people who can fill the gap that is obstructing the business from reaching new heights of success!
The Startup Cafe, which is essentially a center, will be equipped with the guidance required to build a successful startup, wherein the members can mutually benefit from each other. Moreover, training and workshops can be organized too to attract young students who want to enter the world of business.
After all, as the saying goes, the more, the merrier!
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