Start-ups continue to witness a rapid growth trajectory in India.
A newly created ‘herSTART’ platform has been introduced to promote women StartUps and advance women entrepreneurs.
Addressing the plenary session of the Bharat Startup Summit and Expo 2023, Union Minister Dr Jitendra Singh informed that the government headed by Prime Minister Narendra Modi has introduced a monthly allowance of Rs 20,000 for up to one year for women-led StartUps.
India has now more than 100 unicorns to the world. A "unicorn" is a privately held startup company with a value of over $1 billion. At least 36 unicorns and potential unicorns in India has at least one woman founder or a co-founder.
With close to 70,000 startups, India is the third largest birthing ground for startups in the world.
90% of all startups fail within the first five years of their journey.
The reasons for this are unmanaged cash burn, flawed demand assessment, ineffective feedback loops or lack of leadership.
Startup India Action Plan of the Government is a very important step for strengthening the entrepreneurial ecosystem in the country. The action plan is intended to build a strong ecosystem for nurturing innovation in India as an engine for both economic growth and employment generation.
Today India is home to more than 93,000 DPIIT Recognized Startups and 108 Unicorns.
As of January 2023, 47 companies world over have achieved the decacorn status. Presently, India has five Startups namely, Flipkart, BYJU’s, Nykaa, Swiggy and PhonePe added in the decacorn cohort.
Decacorn is a term for a company valued at more than US $10 Billion.
- India is ranked 3rd as the country with the highest number of startups.
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There are several terms for startup companies. While a unicorn is a startup company with a value of over $1 billion, Decacorn is a term for a company valued at more than US $10 Billion.
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Flipkart, BYJU’s, Nykaa, Swiggy and PhonePe are the Decacorn startups.
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Today India is home to more than 93,000 DPIIT Recognized Startups and 108 Unicorns.
