Indian Startups

Higher online education platform upGrad, run by Ronnie Screwvala, was at the second position and Lalit Keshre's homegrown online investment platform Groww was third on the annual list. Satya Nadella, Chairman and CEO of Microsoft, recently joined Groww as an investor and advisor.

The government has taken several measures in the recent past towards ease of doing business and ease of living for the corporations. These included decriminalisation of various provisions of the Companies Act, 2013 & the LLP Act, 2008, extending fast track mergers to startups, incentivising incorporation of One Person Companies (OPCs), etc.

In the last six months, "Goodfellows" has completed a successful beta and will now be available in Mumbai and soon in Pune, Chennai and Bengaluru. "The bonds between the two generations created by Goodfellows are very meaningful and are helping to address an important social issue In India. I hope the investment helps the young team at Goodfellows grow," said Tata. During the beta testing, Goodfellows received a positive response with over 800 applications from young graduates looking to be employed at Goodfellows of which a shortlisted cohort of 20 provided companionship to the elderly in Mumbai.

These startups from smaller cities are working in the fields like IT, agriculture, aviation, education, energy, health and space sectors, the Minister said while delivering keynote address at "DST StartUp Utsav" here. As per the latest data, there are currently 105 unicorns, out of which 44 were born in 2021 and 19 in 2022. "The decade 2021-30 is expected to bring transformational changes for Indian science, technology and innovation (STI)," said the Minister.

Union Minister of State (Independent Charge) Science & Technology, Jitendra Singh while delivering a keynote address at 'DST StartUp Utsav' at Dr Ambedkar International Centre, said that Prime Minister Narendra Modi's special focus on Science, Technology and Innovation has fired the imagination of the youth in the country to innovate and solve problems with new ideas.

The CoinSwitch's Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF partners), and incubation partner Buidlers Tribe, the company said in a statement.

The exclusive meet up for founders and chief experience officers (CXOs) gave them a platform to network, learn from fellow entrepreneurs, find new business and referrals and accelerate learning."This is a perfect opportunity for you all to share your challenges and expectations, and for us to get feedback to serve you better. We will provide you the technology support and credits if needed, but also go the extra mile to help you get all the support you need to succeed in this industry," said Rahul Sharma, President, Public Sector, AWS India and South Asia, AISPL.

India is among the world's fastest growing fintech markets with 6,636 startups. The Indian fintech industry's market size was $31 billion in 2021 and has the highest fintech adoption rate at 87 per cent. "There was a time when it was openly admitted that out of every Rs 100 disbursed by the government from Delhi, only Rs 15 reached the beneficiary, and the remaining of money got mysteriously siphoned off.

India's defence exports touched a record of Rs 13,000 crore in 2021-2022, stated India's Defence Secretary Ajay Kumar. The private sector has played a significantly important role in aerospace manufacturing -- both in manned and unmanned aircraft. "The total defence export in 2021-2022 stands at Rs 13,000 crore," stated Defence Secretary Kumar.

In Q2, 121 new startups closed their first funding rounds, four startups turned unicorns, 62 startups got acquired, and five filed their IPOs, according to data intelligence platform Tracxn Technologies. The Indian startups raised $6.9 billion in Q2 in 409 funding rounds and the top startups were VerSe ($805 million), Delhivery ($304 million), and udaan ($275 million).