A downfall of the Indian Economy & the increasing number of daily positive cases, COVID-19 or a coronavirus has impacted India in many ways, companies are losing their productivity, and are also facing problems in terms of finance and other resources. As we know that “necessity is the mother of invention” and our, Entrepreneurial & Innovation environment leads us to hope. Entrepreneurs are known to be problem solver, they are looking at the different sides of the problem and finding out the niche market by segmenting the customer base. By applying and adopting the digital transformation they are finding out various opportunities that are available and will be available post-COVID-19. Collaboration, convergence, and co-creation, keeping this in mind, entrepreneurs are facing this challenging virus.

1. Assessment of the post-COVID-19 entrepreneurial opportunity in India
Naman Markan
Date: 25th May 2020
A downfall of the Indian Economy & the increasing number of daily positive cases, COVID-19 or
a coronavirus has impacted India in many ways, companies are losing their productivity, and are
also facing problems in terms of finance and other resources.
As we know that “necessity is the mother of invention” and our, Entrepreneurial & Innovation
environment leads us to hope. Entrepreneurs are known to be problem solver, they are looking at
the different sides of the problem and finding out the niche market by segmenting the customer
base. By applying and adopting the digital transformation they are finding out various
opportunities that are available and will be available post-COVID-19.
Collaboration, convergence, and co-creation, keeping this in mind, entrepreneurs are facing this
challenging virus.
They have already taken a lead in terms of:-
 Developing contact tracing applications along with the search for a COVID-19 vaccine.
 Providing digitalized meeting applications.
And this can be assessed by the increasing number of users and the customer. Post COVID-19,
where the entrepreneurial environment is going to change with new business revenue models, new
products & services, in order to reduce the cost, they are packaging it into the manner where they
can debug it and push it forward.
According to the Confederation of Indian Industry (CII), the Indian market which is an emerging
market in the world are having an opportunity to set an example. Innovativeness has its roots.
Some examples which show that entrepreneurs have positively responded at the time of crisis:-
1. Ola Ambulance
As seen the need of the emergency vehicles, Ola come up with this bright idea, to provide
ambulance service 24*7
2. EMOHA – an adult care startup
A Gurugram based startup sees the need to take care of senior members of the society they came
up with empowering and training elderly persons and ensuring to make them safe.
3. Wakefit. Co – a D2C startup
The journey started with providing sleep mattresses to the customers by realizing the need of the
time.
Entrepreneurs, backed-up with government policies are performing very positively and seeing this
crisis as an opportunity. For example, when the COVID-19 is being started in India, there are no
PPE kit manufacturers, but now with the government support to those small start-ups, we are
making more than 2 Lakh PPE on a daily basis. This is a perfect example of purposeful innovation,
apart from the search for a vaccine.

2. For Entrepreneurs, COVID-19, this is not a disaster or destruction for them, it is an opportunity,
they are continuously finding out the new areas, and within a time frame, they are coming up with
new and innovative solutions. For them, every bright idea is the blue sky, where they are digging
themselves and coming up with long term visions.
Talking about digitization, and how the Indian market is responding to it, in terms of medical
sciences, they come up with tracing and tracking the information about the patient, and in the surge
of increasing the Healthcare capacity by means of gathering the real-time data. And if we look for
the purposeful innovation, seven vaccines of COVID-19 has been tested till now.
Looking forward to other companies, such as Patanjali, they came up with an application “Order
me” in order to ensure the proper supply of consumer goods. After the government scheme “Vocal
for Local” companies innovation came into existence. Similarly, Art of Living, launches Elyments,
a social media platform, with a hope to perform every task like purchasing and video streaming.
These are also a good example of purposeful innovation & digitization.
The collaboration of Businesses, innovators, academia, civil society, philanthropists, government,
media, and research & developmental institutions everyone has to co-create a framework for
entrepreneurship with a notion of common shared value which can have a positive impact on
society.
The further opportunities may lie in terms of:-
1. Medical equipment and accessories.
2. Virtual & digital supply chain.
3. Door to door sanitization organizations.
4. Enabling home offices or work from anywhere by using VOIP.
5. Robotic support in logistics.
6. Use of gesture sensors instead of touch sensors to avoid contact in many public facilities.
7. Digital platforms for online education.

3. SWOT ANALYSIS of opportunities post COVID-19, Indian Market
Keeping in mind the impact of COVID-19 assessment, entrepreneurship bright idea, purposeful
innovation enablers and digitization, the SWOT analysis for the Indian market is as follows:
Strength
 India is a market for low wages workforce.
 Known for its Service industries and outsourcing.
 Proactive in adopting Technology and innovation.
 Foreign investments by giant companies Facebook & Silver lake vista equity firm.
 Favorable Government schemes, like Make in India, Vocal For Local.
 Young and educated population.
Weakness
 Labour laws
 Poor & not sufficient infrastructure
 Dependability on investors
 Indian economic reforms
Opportunities
 Growing Investors and overseas business
 Technological and innovations opportunities
 Collaboration with foreign countries
 Government plans and schemes, such as digital India.
 Agility in the business continuity plan.
 Dark Factory (Industry 4.0) and AI a key enabler
Threats
 Corruption & Degraded politics
 Near threats to the hospitality and travel industry.
 Large informal sector.
 Pandemic and other natural uncertainties.
 Other countries in the Asia Pacific market.
Keeping this SWOT analysis approach in mind India needs to adopt two basic approaches, i.e.
survival and revival. There will be a new way of the Indian industry's strategies which they came
across. For example, focusing on the domestic market in order to increase the GDP while keeping
sustainability in mind. Thus entrepreneurs play an important role while converting “adversity into
opportunity”.