India has now become a large hub for a few of the most important and most promising startups in the world. From technology, from healthcare to fintech, entrepreneurs leave no stone unturned to innovate and make customer-centric products that supply a good range of services. This has carved the path for more and more startups to come and join the Unicorn Club.
According to a report by KPMG, the number of startups has increased from 7,000 in 2008 to 50,000. Startups within the USA and India have similar structures and principles. Where they differ the foremost is within the funds. there have been about 50,000 startups in India in 2018; About 9,000 of those are technology-led startups. In 2020, 3,061 startups were born in India.
More than 1/2 of Indian startups are located in Delhi and Bengaluru. About 41% are based in Bangalore. About 20% rely on Mumbai, 15% in Gurgaon, 15% in the national capital, and 9% in other cities like Gurugram, Kolkata, Hyderabad, and Pune.
Why are there numerous startups in India?
- Large enterprises are realizing the potential of startups and investing or partnering with them.
- The Government of India understands the worth of disruptive researchers across the worth chain. quite 26 states have startup policies.
- The adoption of affordable internet and high mobile has opened the thanks to serving innumerable new customers.
- First-generation entrepreneurs inspired new people to begin their businesses.
Leading Startups Of India in Terms Of Valuation:
Founded in 2013 the Indian startup that has gained plenty of recognition within the last decade is Oyo. Oyo is a global platform that empowers entrepreneurs and little businesses with hotels and houses by providing full-stack technology. By partnering with Oyo, such people can increase their earnings and simplify operations by bringing affordable and reliable accommodation that guests can book immediately. Currently valued at nearly $ 9 billion, Oyo has come a protracted way, initially consisting mainly of budget hotels in India, gradually expanding into thousands of hotels, vacation homes, and several rooms in over 80 countries, with 157,000 storefronts. the utilization of Oyo’s technology globally.
Valuation: 16 billion. Paytm, a pioneer in digital payments was founded by DTU graduate Vijay Shekhar Sharma in 2021 with an investment of $ 2 million. Its parent company is termed One97 Communications Limited. Paytm has grown in popularity within the country, with quite 300 million Indians using it to obtain various goods and services. the corporate has expanded into investment and online shopping through Paytm Money and Paytm Mall, respectively.
CRED is one of the foremost promising startups and unicorns in India. it’s an Indian fintech company founded in 2018, its main feature is that it allows users to create Mastercard payments through its application that they receive special rewards. Another key good thing about using CRED is sorting out the hidden charges in your MasterCard bill. Gradually, except for its out-of-the-box marketing ads, CRED is gaining importance through additional features like allowing users to pay home rent, introducing short-term credit lines, and providing users with credit score checks and analysis and its recent fundraising. Is. Its current valuation approaches $ 4.01bn in October 2021.
Zomato was founded by two smart entrepreneurs Pankaj Chaddah and Deepinder Goyal. Zomato, the world’s largest restaurant aggregator and food delivery company, has grown dramatically since its inception. it was launched a decade ago as a scanned menu delivery platform – essentially helping restaurants share their menus online and share reviews – but that was just the start. Zomato, a web food ordering service, is now valued at about $ 5.4 billion.
- Dream 11
Dream 11 is the leading and first fantasy gaming platform in India. Based in Mumbai, Maharashtra, the corporate was founded by two young co-founders, Harsh Jain and Bhavit Seth. It attracts lots of young users who are crazy about sports. It took the corporate three years to succeed with 1 million users and in but 2 months it crossed 3 million. the corporate had about 75 million users before the outbreak of COVID-19 in India and now it’s reached 100 million users. in step with Deloitte reports, fantasy sports in India have grown by almost 200% which may be a catalyst for the expansion of the corporate.
How Indian startup culture differs from the US
With the emerging business opportunities in India, the word startups aren’t any longer just within the US. India has now become a number one global startup hub like its American counterpart.
With the growing number of latest companies in India, venture capitalists, and entrepreneurs are turbocharging the expansion of the highest tech startup scene.
In today’s world, there are endless opportunities to form money. The success rate of startups in India is also high, but why? The rationale for this seems to be education. India incorporates a great education system, and other people are very knowledgeable when it involves business.
India has been a rustic of startups since the swinging sixties. The journey of some startups in India has been very fulfilling, and they have come a protracted way since their inception. Despite all the advances and new technology advances, the belief behind every startup company in India is “Make in India”.
– Amrin Ahmed