Indian Startups on a Successful Streak – PM Modi says Celebrate and do more, announces 16 January as the first National Startup Day

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National Startup Day in India – Introduction

Start-ups represent the growth, passion, and creativity of an economy. In the past few years, the number of start-ups has multiplied in India. Hence, Prime Minister Narendra Modi has declared January 16, 2022 as the first National Start-up Day!national startup day

Start-ups start from a simple idea and end up in a million-dollar business with smart and hard work. India’s economy is growingly impacted by start-ups every year, and 2021 was no different! With 42 start-ups converting into unicorns, India is headed towards a developed economy. India reached the 3rd ranking in the world for having the highest number of unicorns, leaving the United Kingdom behind in 2021. India has more than 80 unicorns with 42 of them entering the unicorn club in 2021 itself.

National Startup Day meaning – 16 January 2022 is celebrated as National Startup Day

National Startup Day in India – What is a start-up?

A start-up starts with an idea of one or more persons who convert the idea into a business model. Start-ups are about innovation, creativity, and marketing a new product or service. The entrepreneurs initially prepare a prototype and market it. When their product starts gaining attention, they start seeking funding for large scale production, innovation, and improvisation. Paytm, Nykaa, Ola, and CarDekho are popular start-ups in India.

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India’s Start-up Ecosystem

2021 has been a remarkable year for India’s start-up ecosystem. India bagged the 3rd position leaving the UK and Germany behind for having 81 unicorns in the country. 42 unicorns were born in 2021 itself, the highest ever in a year in India. The total valuation of 81 unicorns is $274.17 billion (INR20.40 Lakh Crores).

National Startup Day in India

There are 60,770 recognized start-ups in India as of December, 2021. They are spread over diverse industrial sectors making up to:

  • 13% in IT services
  • 9% in Health care
  • 7% in Education
  • 5% in professional services
  • 5% in agriculture
  • 4% in food and beverages

With 42 unicorns valued at $89.17billion,(INR 6Lakh 63thousand crores approx.), India got its first health tech unicorn – Noida based Innovaccer. It is currently valued at $1.3billion(INR 9,670crores approx.).

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With a valuation of $1.1billion(INR 8,180crores approx.), CoinDCX became India’s first cryptocurrency exchange unicorn.

Digit Insurance, an insurance tech start-up was the first unicorn of India in 2021, valued at $1.9billion(INR 14,100crores approx.).

National Startup Day in India

2021 also saw an IPO listing of 8 start-ups, with Zomato being India’s biggest IPO of Rs. 9,375 crores. Other popular start-ups like Nykaa, PolicyBazar, Paytm also offered IP boosting the growth of the Indian economy. Around $2.5billion(INR 18,600crores approx.) was raised from public markets by these start-ups.

Also, Freshworks became the first Indian software maker to list on NASDAQ. It raised over $1.93billion(INR 14,400crores approx.) through its IPO.

With the beginning of 2022, India already has 3 new unicorns:

  • Mamaearth
  • Fractal Analytics
  • LEAD School

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National Startup Day in India – India Start-ups Statistics 2021

  • Indian start-ups raised funds for $42billion(INR 3Lakh 12thousand crores approx.) in 2021.
  • India has 60,770 start-ups in the country.
  • Bengaluru has the maximum number of start-ups in India.
  • Flipkart is the most valuable unicorn with a valuation of $17.6billion(INR 1Lakh 31thousand crores approx.).
  • Mensa Brands became the fastest unicorn after 6 months from its incorporation.
  • 8 start-ups offered IPO in 2021.
  • 4 Start-ups became decacorns (over $10billion(INR 74,400 crores approx.) valuation) – Flipkart, Paytm, BYJU’s, and OYO.
  • FinTech, e-commerce, and SaaS dominate start-ups.
  • 2/3rd start-ups founders are from IIT, IIM, or ISB.
  • 13 female founders successfully converted their start-ups into unicorns.
  • Zomato has the highest capitalization of $14.8billion(INR 1Lakh 10thousand crores approx.) in the market.
  • Paytm raised the highest IPO with Rs. 18,300 crores.

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