The number of startups in India since 2014, has been increasing rapidly. From about just 350 startups to 90,000! Out of which over a 100 have become unicorns. This increase took place after our prime minister rolled out a special start-up scheme, since then India has witnessed multiple accomplishments and failures.
What India does have is the dearth of talent, passion, hard-work and unique ideas. As we progress towards becoming a developed country, our economy thrives with us.
The epidemic exposed the dark side of virtually every industry, but it also had some beneficial effects for businesses. The global financial crisis sped up the adoption of web technology worldwide, but especially in India. This prompted numerous companies to become digital, including VC firms, particularly those that concentrate on tech startups.
The government schemes allow one to start their startups with a little extra help such as; Startup India Seed Fund Scheme (SISFS): It aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. Along with this, National Startup Awards this ceremony recognizes up and coming startups and provides them with the audience that they deserve.
Indian startups are well-positioned to endure the decline in investment activity. India is making significant progress in developing environmentally friendly alternatives across industries, and employment activity in startups there signals a solid recovery of economic growth. Furthermore, companies continue to innovate and disrupt a variety of sectors, including FinTech, FemTech, HealthTech, and SpaceTech.
The future is here and it is entrepreneurial as more and more young citizens chart the rocky waters of running a successful start up.