Infosys prime supporter Nandan Nilekani on the side-lines of the launch of one of his investee companies, 4TiGO said it was critical for youthful business people to figure out how to manage difficulties, show sustainability instead of taking a gander at benefits.
Start-ups have now become a glamour quotient in India which was not the scene even a few years back. Being an entrepreneur is somewhat glamorous, but there is a need for honest and genuine ideas rather than doing something that is already there. Hence, sustainability has become a major challenge for start-ups to flourish.
Sustainability issues for start-up entrepreneurs
Firstly, the lack of information may impact Sustainability. The provision of more information directly to business founders could help in the adoption of more sustainable business practices.
Secondly, the level of knowledge that business advisers have about ecological issues, and their willingness to discuss this with their clients, is also important in creating sustainable new ventures. In particular, there is a need to focus on business advisers that come into contact with entrepreneurs at an early stage of the start-up process.
Third, many start-up entrepreneurs are not fully aware of the potential market opportunities that might exist for environmentally friendly businesses. Therefore, it is necessary to draw their attention to successful best-practice examples in their respective industries. The willingness to follow successful examples might be more promising with start-ups than with established business enterprises.
Last, the role of public funding in promoting sustainable enterprises is often overlooked. It’s clear that finance is an ongoing problem for start-ups. It seems reasonable that government funding schemes for new-firm ventures should make extra allowance for such projects, especially since (on the other side of the ledger) they help reduce the overall cost of public environmental protection and clean-up.