Decoding the Essential Facts of Indian Startup Ecosystem 2024

Unicorn Bang:

The growth record of unicorns is always been an unsung element in the records of Indian startup. Out of every 10 unicorns around the world, 1 unicorn is born in India. In the year 2022, India added its 100th startup to the unicorn club. Followed by registering 47 unicorns in 2021, 24 unicorns in 2022, and in 2023, India witnessed only two startups joined the unicorn club which failed to match the global range due to tightened central banks & lack of investors.

But in 2024, Bhavish Aggarwal-led Krutrim SI Designs, an Artificial Intelligence Startup became the first Unicorn of India in 2024. The startup gained $50 million investment from Matrix Partners India & others. This signified a sharp & quick recovery of funding decline with a ray of hope. According to collective research analysts & industrial experts, in the current year at least six startups are expected to join the unicorn club.

“The integration of science, technology and innovation goals into national policies helps achieve sustained economic and social development. This brief examines the key parameters that govern the global and Indian innovation ecosystems”, – Dr. N. Vedachalam, Senior Scientist & Program Director at the National Institute of Ocean Technology.