Indian Startups Epitomizing Resilience

The startup ecosystem has only seen a longer upward curve, irrespective of short lived setbacks marked by failing IPOs and post valuation failures. The government has been a strong advocate of India's startup culture and has time and again proven the same. Commerce and industry minister Piyush Goyal has launched an initiative SETU(Supporting Entrepreneurs in Transformation and Upskilling) here to connect startups in India to US-based investors.

SETU is designed to break the geographical barriers between mentors based in the US that are willing to invest in entrepreneurship and sunrise startups in India. The initiative would connect startups in India to US-based investors and startup ecosystem leaders with mentorship and assistance in various areas, including funding, market access and commercialisation. The interaction between the stakeholders will be supported through the mentorship portal under the Startup India initiative MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth) programme, which is a single-stop solution finder for startups in India.

India is currently experiencing a funding winter across tech startups which is expected to continue for the next 12-18 months, as per a report by Traxcn. In August, Indian tech startups raised $885 million and only a sliver of the companies surveyed by Tracxn received funding. Out of the 100,000 companies surveyed, only 10,000 received funding since last year.

With markets down and tech investors skittish, it's been a challenging year for young, venture-backed startups. However, there were some victors in this cut-throat race to glory. This edition brings to you the startups that have got our attention. Not only did this list beat all odds to demonstrate exemplary resilience and zeal to solve problems.