Startups & their Success Stories

Nandini Mukherjee, Managing EditorThey say there is no wrong time to start a right thing but then when it comes to startups, the time does matter. The time and era of a launch can significantly define or defy the success. The Indian startup ecosystem has evolved dynamically over the last two decades. Some startups were founded in the 2000s, but the ecosystem was still immature as only a few investors were active and the number of support organizations such as incubators and accelerators was limited. Some successful exits occurred in the late 2000s and in the last ten years, the number of startups increased fast and more support has become available in all dimensions. Bangalore has emerged as India’s primary startup hub, but significant founding activity is also taking place in Mumbai and the National Capital Region(NCR), as well as some smaller cities.
Like most old economies and cultures, entrepreneurship and trade have blossomed in India for centuries. Built on these foundations, India’s current entrepreneurial ecosystem is a result of three waves of entrepreneurial activity with distinct focus areas – Information Technology (IT), consumerism and innovation. The last decade has seen significant activity on multiple fronts including the founding of new startups, amount of funding and number of investment rounds, influx of global investors and startups, development of regulatory infrastructure, global mergers and acquisitions, and internationalization. Entrepreneurial success stories flourish. At last count, India has added more than 1,300 startups this year and has also witnessed the addition of seven Unicorns this year till August taking the total tally to 24 the third highest number of Unicorns. As per a NASSCOM report, these startups have created an estimated 60,000 direct jobs and 1.3-1.8 lakh indirect jobs, Nasscom said in a report. The rapid rise of startups is coming on the back of B2B tech startup landscape, focused on verticals like healthtech, fintech, and ecommerce/aggregators and others.

In our current edition, we have featured few of the successful startups from diverse verticals under our `Startup of the Year 2019'category. Each of these startups has a story to tell and value propositions that is making them a market hit. These startups continue to innovate enabled by technology and newer business models and have a long-lasting impact in improving the Indian startup ecosystem. We wish them good luck. Hope their inspiring stories inspire our young India.
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