Linking sustainable development to startup ecosystem in India - A conceptual framework

Abstract

Entrepreneurship and innovation are the engines of economic growth and the societal progress (Allen, 2009). Experience evidence that entrepreneurial drive by itself cannot deliver sustainable economic growth and hence, requires the support of an ecosystem that is sustainable and scalable. In spite of the considerable advances and breakthrough in the rise and growth of startups, the number of startups that have attained the status of unicorns in India is not so encouraging thus, underlining the need for a sustainable ecosystem. The 2017 Global Startup Ecosystem Report indicates that several Indian startups struggle for survival and thus a renewed focus on the recent advances and the forces that underpin the startup ecosystem in India assumes significance. Against this background, the paper underscores the need for linking sustainability to the start-up ecosystem and proposes a framework with the help of triple bottom line approach to sustainable development.