Exploring The Influence of Psychological and Work Environment Factors on Career Decision-Making of Gen Z And Millennials in India's Startup Ecosystem

Abstract

India has witnessed a revolutionary transformation in its entrepreneurial landscape over the last decade, emerging as the third-largest startup ecosystem globally with over 90,000 startups registered as of 2023 (Startup India, 2023). This rapid growth is primarily driven by technological innovation, supportive government policies, and the digital economy’s expansion. Startups are seen as hubs of creativity, flexibility, and fast-track growth, offering an attractive platform for employment, especially among the younger population.

Gen Z (born between 1997 and 2012) and millennials (born between 1981 and 1996) form a substantial portion of India’s working population and are central to the functioning of these startups. Their approach to career decisions is influenced by factors distinct from previous generations—emphasizing autonomy, purpose, and innovation over traditional job security and hierarchy (Twenge, 2017; Singh & Dangmei, 2016). This shift necessitates a deeper understanding of the factors that influence their career choices in the context of a dynamic and often uncertain startup environment.