How to save money while launching your startup

In the wake of drying up of easy money for startups, the Indian startup ecosystem is going through a shakeout phase. Funds have dried up since June 2015, and while many claim its necessary, this means startups have to sit up and be a bit thriftier with their cash.

As the country’s startup ecosystem undergoes a purge, startups still need dedicated social media services and other digital assistance such as website design, app development, graphic designing, branding and related solutions personalized for individual needs.

Dubai-based social media marketing agency Websters founder Sheraz Saaed feels it’s easier to cope with the times by outsourcing marketing to agencies. “Startups have budget constraints. Agencies can help cut costs. You can have three times the service for the same money with an external agency. One can also terminate a contract with a 15/ 30 day notice, but termination of your staff will be more challenging. The HR gets involved, and a budding company won’t want that”, Saaed said.

While there have been reports doubting the future of startup industry, the first quarter of 2016 has already proven that wrong. In Q12016, Indian startups have already raised $1.42 billion by closing a well over 300 deals. This is well above last year's figure of only 147 deals in the same quarter.

After acquiring an unmatched level of funding, over $9 billion to be specific, 2015 was perhaps the best year so far for Indian entrepreneurs. 2016 has seen PM Narendra Modi inaugurating his ambitious Startup India campaign.

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