eBiz_ppt.pdf. I made for a contest. I won
- 4. 01 02 03 04 05 Rural startups aim to develop solutions that meet the demands and circumstances of rural populations. They help in solving the problems of poverty, unemployment, economic disparity, and low standard of living. They use technology, local assets, and community involvement to promote economic growth and raise living standards. Why are Rural Startups Important? They bring about positive social and economic change in rural areas by introducing new products, services, or approaches that can improve the quality of life and create sustainable impact. They aim to eliminate the gap between urban and rural areas.
- 5. Benefits of Rural Startups ● Resource Utilisation ● Employment Generation ● Avoid the migration of rural population ● Encourage the rural youth ● Stimulate economic development ● Entrepreneurial Development ● Standard of living.
- 6. 01 02 03 04 Over 65% of India's population lives in rural areas. The rural ecosystem contributes almost half of India's overall GDP and employs 68% of the total workforce. Rural ecosystem has grown ~10% p.a. over the last five years and still has strong headroom for growth. Rural entrepreneurship plays a vital role in improving the standard of living, promoting economic development and eradicating poverty and slums in rural areas. Rural Entrepreneurship in India
- 7. Rural Startups for an Atmanirbhar Rural India ● Rural startups contribute to making rural India selfreliant. ● They help in promoting indigenous solutions to local problems. ● They create local employment opportunities and reduce dependence on urban areas. ● They encourage rural innovation and entrepreneurship. ● They promote a sustainable model of development that focuses on local resources and community involvement.
- 8. Challenges Faced by Rural Startups An overview of the challenges faced by rural startups.
- 9. 01 02 03 04 Rural businesses often have difficulties in securing funding and growing their markets due to limited resources. Access to information, resources, and funding can be met with resistance when starting or growing a rural business. Forty percent of rural small business owners have trouble accessing capital so most use personal savings. Limited access to resources such as capital, skilled labor, technology, and infrastructure can make it difficult for rural startups to find the necessary resources to start and grow their Limited Resources
- 10. 01 02 Connectivity Issues Rural small businesses can benefit from resources available to optimize existing connectivity and help advocate for filling the gap of what’s missing. Access to connectivity can be a major challenge for rural startups, with limited access to digital or physical connectivity.
- 11. Market Limitations ● Rural areas typically have smaller populations and a narrower customer base compared to urban areas. ● This limited market size can pose challenges in terms of customer acquisition, reaching economies of scale, and generating sufficient demand for products or services. Limited Support Networks ● The absence of mentorship programs, business incubators, and networking opportunities can hinder the development and growth of rural startups. ● Rural areas may have fewer formal support networks and entrepreneurial ecosystems compared to urban areas.
- 12. Role of Digital Payment Solutions Digital payment solutions, such as mobile wallets and payment apps, allow rural entrepreneurs to open bank accounts, receive payments electronically, and access a range of financial services remotely.
- 13. Digital payment solutions enable rural startups to overcome geographical barriers and expand their customer base. With the ability to accept digital payments, these startups can reach customers beyond their immediate vicinity, including urban areas and even international markets. Expanded Customer Base This broader reach can significantly increase market opportunities and revenue potential for rural businesses.