November 22, 2022
India has 81,000 government-recognized startups across 656 districts
The country currently has 107 unicorns
Despite global economic challenges, investors are still quite interested in funding Indian startups due to their rapid pace of building innovations
India is becoming the preferred destination in the East for manufacturing, talent and software development
India has 81,000 government-recognized startups across 656 districts, making it the third-largest startup ecosystem in the world, according to media reports. The country currently has 107 unicorns, after adding 19 that reached unicorn status this year and is expected to have 250 unicorns by 2025.
According to reports, the country’s startup ecosystem is well-placed to develop global leaders, as Indian startups have solved problems across IT, education, healthcare, and agriculture among other industrial sectors.
Despite global economic challenges, investors are interested in funding Indian startups due to their rapid pace of innovations and creative problem-solving capabilities. As per reports, fintech and healthcare startups received maximum funding In November 2022. Among cities, Bengaluru has seen the highest number of investments in recent years.
Another reason Indian startups are attracting foreign investment is that they have a large and growing talent pool of people with tech skills, and founders are betting on building high-quality innovative products that add value to society.
No wonder, India is becoming the preferred destination in the East for manufacturing, talent and software development.
With supportive government policies, a large talent pool, and an innovative mindset, Indian startups are all geared to create scalable and highly profitable businesses that can compete with global businesses.
Source: Mint