From having a handful of tech companies to dozens and
thousands of innovative new ventures, India’s startup ecosystem has grown
immensely in the past decade
India has witnessed launch of more than 55,000 startups to
date with more than 3,200 startups raising $63 Bn in funding in the last five
and half years alone
Home to 34 unicorns, and 52 soonicorns with a potential to
become unicorns by 2022, the world’s second largest startup ecosystem is poised
for disruption
In just over half a decade (2014-2019), India has shown a
great appetite for technology, data and the internet. The internet paved the
way for thousands of startups to rise over the past decade, address unique
problems, transform entire industries and create new segments!
Indicators of Growth in the
Startup Ecosystem
The pace of growth in the startup ecosystem has increased to
15% year-on-year in 2018, while the growth of the number of incubators and
accelerators has grown to 11%
Significantly, the number of women entrepreneurs stood at
14%, up from 10% and 11% in the previous two years.
Startups in the country have been able to create an
estimated 40,000 new jobs over the year, taking the total jobs in the start-up
ecosystem to 1.6-1.7 lakh
Bangalore has been listed within the world’s 20 leading
startup cities in the 2019 Startup Genome Project ranking. It is also ranked as
one of the world’s five fastest growing startup cities.
Drivers of Startup Ecosystem
Corporate Connect
Enterprises are realizing the disruptive potential of
start-ups and are thus, partnering/investing in them. Examples of corporate
support:
Facebook in partnership with Startup India disbursed cash
grants of $50,000 each to the top 5 selected startups
10000 Women program by Goldman Sachs is providing women
entrepreneurs all around the world with a business and management education,
mentoring and networking and access to capital.
Microsoft Ventures Accelerator Program in India has recently
picked up 16 startup
Government Support
Government of India is understanding the value of working
with disruptive innovators across the value chain and using their innovations
to improve public service delivery.
Department of Animal Husbandary and Dairying has conducted a
grand challenge in association with Startup India to award top startups in 5
categories 10 lakhs INR.
Small Industries Development Bank of India has launched a
scheme to provide assistance to existing Small and Medium Businesses in need of
capital for growth
Over 26 states in the country have Startup policies.
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