India has seen several growth stories of startups over past few years. Government has launched various schemes to provide an impetus to young entrepreneurs. At the same time infrastructure, availability of talent and necessary finance at various stages of growth are some of the typical challenges for startups.
Typically, startups grapple with some of the common issues like:
Funding at appropriate stage
Availability of required finance is critical for growth and timing of availability is absolutely critical for the growth plan
Lack of visibility on Revenue Model
Often it is observed that several great ideas come with a great planning but with lack of sustainable monetising model. The focus of entrepreneurs is usually is driven towards growth of the business, increasing the footprints and wide spread market. Which at times misses the appropriate revenue model to support the operations and future growth.
Regulations and compliances
Adapting to fast evolving compliance and regulatory requirements is another challenge usually faced by the startups.
Lack of Mentorship
Tech entrepreneurs coming up with brilliant ideas and concepts, typically need industry expertise and market experience to get the products to the market. It is proven that a brilliant idea works only if executed promptly. There is always a need for strong mentorship to bridge this gap.
GMC’s Startup support services plays a key role to overcome all of the above challenges.
Our experienced team at GMC, provides a range of services under “start up support services” which is to address the challenges faced by the startups. These services start from conceptualising the business model from revenue and cost perspective to complete hand hold during the journey of startups.
Startup support services, also entails monitoring the timely compliances to be done by startups and provides time to time advisory on every evolving changes in regulations.
The entrepreneurs can benefit from Startup support services at the time they intend to raise funding according to the growth plan and also to monitor the performance with the investors.
The mentorship provided by startup support services by GMC helps the young entrepreneurs to capture the market trends and also benefit from the experience of industry specialists.