Entrepreneurial Survey – Results

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To study the entrepreneurial environment in India techaloo.com recently conducted a survey. In the survey participants were from all the fields viz. students, entrepreneurs and professionals.

Survey questions were designed such that a overall picture of the environment can be drawn.

First of all we asked that what is the fastest growing field for startups?
As a result E-commerce and Education fields got 39.39% votes each and topped the list, where as IT solutions got 21.21% votes. Few readers also voted for tech,app-development and mixed fields.  
 

field
 
 
 

Different Growing Fields
 
 
 
 
 

   

Then we asked that what is the easiest and convenient source of funding for a startup?
Most of the visitors answered Family and Friends the most, Then the second most voted choice was Angel Investors, the second runner up in the list was VC money.. the crowd funding lost its lust and got the last position.
 
  
 
 
 source of income
 
 
 
 
 
 

 
 
  
 
 
The next question was “Is it compulsory to have an MBA degree before starting a venture? “
And, as expected Most of the visitors voted “NO” and the second voted choice was “That it is not necessary but good to have”.
 

Then we asked to rate the entrepreneurial environment in India, the result was-

Moderate – 63.64%
Good – 24.24%
Poor – 12.12%

Average rating was 2.12 on a scale of 5.

Then our next question was that “It is generally said that you must have some experience prior to starting your own venture, Do you agree with it? “

The answers are as follows-

Moderately Disagree – 36.36%
Agree – 33.33%
Completely Disagree – 18.18%
Completely Agree – 12.12%
Average rating was 2.39 on a scale of 5.

According to you which is the best city for a new startup?
Let see the answers of our readers-
 

City

 
 
 
 

 
 
  
 
 
 
 
 
Bangalore – 48.48%
Delhi (NCR) – 21.21%
Bombay – 15.15%
Jaipur – 15.15%

Few visitors also mentioned Pune and Punjab – Chandigarh regions.

If we ask you that “It is generally said that Indian Startups Copy the Idea of someone else, they don’t have innovative thought. Do you agree? ” , What will you say Yes/No?

Our visitors declined it completely- 75.76% voters said NO and only 24.24% agreed with the statement.
 
What are the reasons for a startup to fail?
Answers:
Lack of leadership or team – 57.58%
Lack of Innovation – 39.39%
Lack of Funding – 33.33%
Lack of prior experience – 24.24%
Lack of salesman in team – 9.09%

Other choices- Lack of the “fire in the belly” to fight and sustain ,impatience. Things take time to happen.

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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