Startup Boom: Startups are having good days in India. Whether it is about starting new startups or the funds they get. Indian startups are doing well at the global level as well. The startups of the country are fast becoming unicorns. Nasscom and Jinov have released a report titled ‘Indian Technology Startup Environment: Year of Success’ regarding startups. According to this report, more than 2,250 startups were started in the country in the year 2021, which is 600 more than a year ago.
The report said that as investor confidence increases, startups are taking advantage of growing technology and looking for skilled people. Along with this, the startup base of India’s technology sector is continuously increasing.
Fund raising double the level before covid
According to the report, Indian startups are also making records in terms of fund raising. In the year 2021, the startup raised $24.1 billion, which is double the level before Kovid. High-value deals increased three-fold compared to 2020, which reflects investor confidence and shows that active ‘angel’ investors are willing to take risks. Most of the foreign direct investment in startups is coming from America, the share of the rest of the world is also increasing in it. In about 50 per cent of the deals, at least one investor is of Indian origin.
Nasscom President Debjani Ghosh said that the performance of the Indian startup ecosystem in 2021 is a testimony to the zeal and dedication of startups from different sectors. This environment has grown tremendously and has become a key contributor to the growth of India’s digital economy.
fast growing unicorn
Ghosh said the future of Indian startups looks even brighter in 2022 with record-breaking investments and a growing number of unicorn companies (startups with a valuation of over $1 billion). Pari Natarajan, CEO, Jinov, said 2021 has been a great year for Indian startups as compared to the UK, US, Israel and China, which saw the highest growth rate in terms of deals and number of startups. Established centers of startups in the country such as Delhi-NCR, Bengaluru, Chennai, Pune, Hyderabad and Mumbai contribute 71 per cent.