Getting ahead, requires getting started: How youth led entrepreneurship will shape the future

In an evolutionary era, where change is constant and the needs of the world keep shifting gear, information is transformed into becoming increasingly accessible and democratic. Consequently, interpretation then becomes subject to one’s exposure. It is now that the young must take the greatest leaps with the highest risks.

The world is not shaped by the ones who have been, but shaped by the needs of the ones who will be. Marketing gurus are constantly emphasizing on how product consumption needs will evolve over a period of time and that’s precisely why, the year 2022 will be shaped by youth led entrepreneurs. The reason? The up-and-coming generation possesses the required capacity to articulate exactly what they want as well as how they want it.

The birth of responsible youth

In a world disrupted by now-on-now-off site working and general unpredictability, the mantra to keep business going will be best seen by adapters – and a majority of them will be the youth, stretching from students at the university level all the way up to individuals in their mid 20’s. Students, fresh graduates, the general mass demographic of young people that have seen the off-line world in its entirety while also having experienced the shift in paradigm to online systems are the key to holistic development. Having been an observer as well as a direct receiver of the pre to post pandemic global transitions, they are able to identify their wants, their needs and essentially identify the difference between wants and needs.

Along with exposure to information and the prudence to work on one’s feet, the youth are also determined to create dynamic solutions keeping the client in mind. Armed with all-round thinking, communication skills and the zest to create actionable change, this is an assembly of individuals set to shape not just 2022 but eventually situate India as a global powerhouse by the beginning of the coming decade. A youth not daunted by limitations but excited by opportunity.

Some key factors that will lead to the establishment of young entrepreneurs this year are:

1. The adaptive ability to un-learn and re-learn the changes in communication systems.

2. Possessing the faculty to be able to take constructive criticism and continually adjust oneself to an evolutionary world in various aspects not privy to older generations.

3. Unpredictable work environments due to persistent lockdown challenges.

4. Increased perforation of mobile phone usage and the added access to information.

5. Larger focus on communication and related skill development for professional competency.

6. Influx of government initiatives like Atal Tinkering Labs by Niti Aayog.

Our never stagnant, complicated world is on the cusp of the next revolution, technology 4.0. It is time to open the doors to the ages that stand to be its long-term target and encourage them in making sustainable, well-calculated breakthroughs in an era designed to accommodate and popularize impactful entrepreneurship. Certain identifiable and necessary skills for one to be the same are:

1. The ability to understand the impact and applications of technology.

2. Emotional learning and being able to empathise with the needs and wants of consumers, and the bountiful but at-risk environment.

3. Finally, comfort in being able to express oneself at the right time and in the right way to achieve not only results but consumer support for one’s vision.

A holistically responsible youth

Challenging times breed perceptive humans. Given the current scenario, gen-z and its following cohorts will look at the world from a problem-solution point of view. Social causes will gain a huge foothold, while ease of routine business will also take center stage. A few areas where we can expect to see increased focus will include:

1. Causes that uplift society as a whole to an inclusive and independent level.

2. Businesses that leverage connectivity to deliver service

3. Innovations leveraging science to ease daily challenges of left out elements of society like support for the vulnerable

Today’s young entrepreneurs are not focused on profit maximisation but rather wish to create actionable impact to avail of and provide for a sustainable future. Perhaps, entrepreneurship in their hands will get shaped differently too and that newly moulded reality is something I look forward to in 2022 and the future.  

The article has been written by Aditya Madnani, Founder - President, The Alpha Urbane Project