The Indian Startup Story Unfolding More Glorious Chapters

India has successfully created one of the world's fastest growing startup ecosystems in the world. With a large number of innovative startups, seeing the light of day, the Indian startup ecosystem has emerged as the third fastest growing hub globally.

According to the Economic Survey 2021-22, DPIIT has recognized more than 61,400 startups in India, with at least 14,000 being recognized during fiscal 2022 itself. The survey further added, “Startups in India have grown remarkably over the last six years. The number of new recognized startups has increased to over 14,000 in 2021-22 from only 733 in 2016-17."

In today's world, one unicorn out of every ten is being born in India. According to InvestIndia, India had 85 unicorns worth $287.89 billion as of January 28, 2022. 2021 saw a record 44 new unicorns being born, with a total value of $90.67 billion, and nine unicorns have already joined the coveted club within the first two months of 2022. Aside from fintech, the unicorn universe is dominated by e-commerce grocery, SaaS and marketplace players.

Although each startup's path to becoming a unicorn is different, the average time for a startup to become a unicorn is 6 months to 37 years. In 2021, Mensa Brands became a unicorn in just 6 months, making it one of Asia's fastest growing unicorns.

India has also produced four 'Decacorns'(companies valued at more than $10 billion) namely, Flipkart, BYJUs, Paytm, and Swiggy.

Not stopping at this, Indian startups have also made their presence felt by going public. In April-November 2021, Rs 89,066 crore was raised through 75 IPO issues, much higher than in any year in the last decade.

January 2022 has already seen several Indian startups receiving record investments of up to $3.5 billion through 130 deals a decadal high in the midst of a global market downturn and an indication of sustained investor interest.

Going forward India's startup population is expected to surpass 100,000 by 2025, which is slated to result in the creation of over 3.25 million jobs. Indian startups will also raise over $150 billion, generating a total value more than $500 billion going forward. The great Indian startup story will continue to unfold and surprise us all.
Do let us know your thoughts.