START-UP SPRINT

India's start-up scene is set to be at the forefront of driving not only financial prosperity but also societal progress in the next quarter century, with opportunities in key sectors

- BY BINU PAUL

India’s start-up scene is blazing a trail to the top of the world’s economic ranks. With over 100 unicorns and counting, valued at a staggering $340 billion, India’s start-up ecosystem is already the third-largest in the world. But this is just the beginning.

Start-ups now achieve $100 million in revenue in just five years, a significant improvement from the 18 years it took in 2000, reveals a new report by RedSeer Strategy Consultants. As these young companies continue to mature and grow, they are expected to have a significant impact on both financial growth and societal progress, propelling India forward on the global stage.

BHARAT TAKING CENTRE STAGE Building for Bharat, or the population outside of India’s major cities, is a huge opportunity. Often referred to as the “next billion” users, this segment represents a significant portion of India’s population. Building solutions for Bharat has today emerged as a significant opportunity; earlier it was viewed as just a social cause. Start-ups are flocking to this segment to offer accessible and affordable products and services to the low-income, less tech-savvy population. The shift to remote work and learning during the pandemic led to a significant boost in the adoption of digital services among consumers in Tier II and III cities, narrowing the digital infrastructure gap between urban and non-urban areas. Today, around half of the recognised start-ups in India are from Tier II and III cities.