THE COVID-19 PANDEMIC AND STARTUPS: DETERMINANTS OF ENTREPRENEURSHIP IN INDIA (original) (raw)

2021, Amity School of Communication

Abstract

The field of entrepreneurship has witnessed rapid growth over the past four decades, with entrepreneurs being catalysts for change and innovation. In recent years, Indian startups have emerged as a significant force, making strategic decisions crucial for their survival in dynamic markets. The COVID-19 pandemic has posed unprecedented challenges to businesses globally, particularly affecting startups with their inherent vulnerability to external changes. This research explores the determinants of startups in India during and after the COVID-19 pandemic. The study aims to identify key factors influencing startups and understand their interrelationships. By conducting personal interviews with entrepreneurs and subject experts, the research examines positive and negative factors affecting startups, views on government schemes, and the impact of COVID-19 on the entrepreneurial landscape. The methodology employs Interpretive Structural Modeling (ISM) to analyze qualitative data and identify key determinants. Nine critical determinants for startups in India are identified, including changing global scenarios, changing consumer behavior, individual traits, creativity, finance, government policies, business environment, marketing, and human resources. The ISM analysis reveals the interdependence and hierarchy among these determinants. The study emphasizes the need for entrepreneurs to recognize, analyze, and manage these determinants for effective startup design and implementation. The findings contribute to understanding the complex dynamics of startups in the Indian context, offering insights for policymakers, regulators, and entrepreneurs. The research concludes that despite challenges posed by the pandemic, startups in India are adapting by leveraging agile processes and innovative strategies. Recommendations include a focus on strengthening government support, fostering a conducive business environment, and promoting financial accessibility for startups. The study provides a holistic view of startup determinants, paving the way for informed decision-making and sustainable growth in the post-pandemic era.

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