Issues Faced By Young Budding Entrepreneurs In Shaping Their Ideas

Sneha Santra
Sneha Santra Sep 07 2018 - 2 min read
Issues Faced By Young Budding Entrepreneurs In Shaping Their Ideas
Four Out of Five Bangaloreans Have a Game Changing Business Idea, But Many Do Not Know Where to Network and Nurture Them

A majority of 81% residents of the Silicon Valley of India, Bengaluru, said they have had at least one ‘game changer’ idea or invention, which could transform India’s work or leisure life. But one out of three does not know of a place in the city where they can network with like-minded people and mentors, and nurture their ideas.

The survey, conducted across Bengaluru with over 1,600 respondents, was commissioned by Samsung Electronics to gauge the issues faced by young budding entrepreneurs in shaping their ideas.

Beyond Technology

Bengaluru is the centre of India's high-tech industry. According to Bangaloreans, what defines the character and nature of Bengaluru resides in its art & culture, heritage buildings, highlighting the diversity of the city, especially its millennials who are looking for interesting experiences within the city.

Entrepreneurial Opportunity

Bengaluru’s heritage buildings and architecture, which is a mix of colonial and art deco buildings are spread across the city. But according to the survey, almost four out of five millennials said that they rarely ever notice heritage buildings in the city when travelling within the city. It was found in the survey that, a sizeable 77% of millennials and 63% of non-millennials say that they would want to restore heritage buildings and see them being converted into public spaces for art, culture and other events around technology and startups to hone the dreams of its residents.

“Bengaluru is India’s undisputed tech hub. As the information technology business has grown over the years, it’s also acquired the moniker of India’s startup capital. No wonder 81% of Bangaloreans say they have at least one game-changing idea in our survey. But we found that while technology might be centre stage, the city has a heart. The city loves its art, culture, which is why they want to save heritage buildings and turn them into beautiful venues for concerts, museums and public spaces for art and culture. They also seek more venues for networking their creative and business ideas,” said Mr. Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India.

Subscribe Newsletter
Submit your email address to receive the latest updates on news & host of opportunities
Entrepreneur Magazine

For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you

or Click here to Subscribe Online