The last decade has witnessed an enormous development in the start-up culture in India. According to the Economic Survey 2020 as many as 27,084 start-ups were recognized across 551 districts as on January 8, 2020. Tier-I cities contributed about 55% of the start-ups while 45% of the firms operated from Tier-II and Tier-III cities.
Maharashtra, Karnataka and Delhi are the top three performers in terms of state-wise distribution of recognized start-ups in the country. On the basis of industry-wise distribution of recognized start-ups, IT services topped the list with 13.9%, followed by healthcare and life sciences at 8.3% and education at 7%. The renewable energy sector lagged, contributing only 2.8% of the recognized start-ups. About 43% of recognized start-ups have at least one woman director, according to the Survey.
Start-ups are the future, even the authorities have understood their potential by introducing the ‘Make in India‘ scheme. Keeping this growth in mind, the Public Relations tool can be utilized by start-ups to enhance their presence in the market.
A start-up usually lacks funding and tries to cut off expenses but a must-to-do expense is to hire a PR agency. There is a false notion that a startup does not require PR. But a good PR may help a startup to build its unique image and eventually attract investors.
Investors are people who will put in the money in your business to get it up and running. You can use that money to build the business, the brand, and have it running without any upfront money from your own pocket. It is very difficult, stressful, and quite hard to take that money from your own wallet. An investor will believe in your business, and they can also help build your business by providing some guidance for the startup. Many investors have the money, and they’re just looking for the next venture to put their money into.
The key to getting a good investor to spend money on your business is to have a business plan with a good plan of action. Show the business what you are capable of doing as a business and the estimated earnings. If you can show the investor that they will get a good return and the investment will be beneficial for them, then you can persuade them to invest in your business idea.
The most important requirement for start-ups is to raise funds for the new venture, to meet their overall goals and objectives. Most start-ups are virtually unknown to the public, which makes investors wary and hesitant in providing the necessary capital to the company. A PR firm will help start-ups gain credibility and visibility across the right media channels and eventually attract investors for funding. Hence it’s vital to have immense media coverage and enough write-ups that will inspire or influence readers and create awareness and recall value for your company. PR firms help start-ups uniquely convey their story and reiterate the brand positioning and messaging to the world of investor and consumer.
