Startup of the Year

Owing to the technology advancements and taking advantage of the new trade opportunities, the business ecosystem has significantly evolved over the years, now, and startup ecosystem is an aggregator of the same presenting the business world with prolific business opportunities, by tapping on new market segments or improvising of the existing products or services. Today, Indian startup ecosystem is the third largest in the world after U.S. and China. The mighty digital infrastructure backed by robust internet connection and smart devices are the key drivers of the startup to projecting on an upward growth journey.

The emergence of startups addressing the major and minor unaddressed issues has dynamically served the business and consumers needs today, providing for the products that were never or merely available or known. It turns out that the best industries for startups include Technology, Edtech, Healthcare, Construction, Fintech, Hospitality, Retail, Real estate, and others. According to Investindia, as of 29th August 2022 India is marked to comprise over 77,000 DPIIT-recognized startups across 656 districts of the country. However, as reported, the e-Commerce sector has the lion's share of India's unicorns with 23 startups achieving this status as of May 2022.

Also, Economic Survey states, National capital New Delhi has pipped tech city Bengaluru as the new startup capital of India. The innovation in India is not just limited to certain sectors, there are many low investment ideated businesses too like Social Media Management Services, Blogging, Travel Agency, Photography, Tiffin Service, Fruit Juice Kiosk Business, Online Fitness Instructors, Event Management, Online Coaching & Training, Garden landscaping, and more. There are many recognized startups solving problems in several parts of India.

Understanding the current trends and opportunities, this issue of Startupcity magazine brings you a list of `Startup of the Year ­ 2022' companies which were selected by comprehensive examination by industry CEOs, VCs, CXOs and our editorial board.