New Delhi (The Hawk): The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal highlighted the achievement in a tweet.&nbsp;The term ‘Unicorn’ refers to the rarest of the rare startups who become Unicorns attaining a valuation of more than USD 1 billion. The Indian Startup Ecosystem, the third-largest in the world in number of Unicorns, as of 5th May 2022, is home to 100 unicorns with a total valuation of USD 332.7 billion.&nbsp;2021 experienced a huge surge in the number of unicorns, registering a total of 44 startups entering the Unicorn club through the year with a total valuation of USD 93 billion.&nbsp;In the first four months of 2022, India has given birth to 14 unicorns with a total valuation of USD 18.9 billion.The entrepreneurial spirit exists throughout the length and breadth of the country and is evident by the spread of the Department for Promotion of Industry and Internal Trade (DPIIT) recognized startups across 647 Indian districts encompassing all 36 States and Union Territories.&nbsp;Since the launch of the Startup India initiative on 16th January 2016, more than 69,000 startups have been recognized in the country till 2nd May 2022.&nbsp;Innovation in India is not just limited to certain sectors; we have recognized startups solving problems in 56 diverse sectors with 13% from IT services, 9% healthcare and life sciences, 7% education, 5% professional and commercial services, 5% agriculture, and 5% food &amp; beverages.While every startup has its unique journey to becoming a unicorn, the minimum and maximum time taken by a startup to become a unicorn in India are 6 months and 26 years, respectively. Till FY 2016-17, approximately one unicorn was being added every year. Over the past four years (since FY 2017-18), this number has been increasing exponentially, with a whopping 66% Year-on-Year growth in the number of additional unicorns being added every year.As we hit the milestone of a century in Indian unicorns, the homegrown startup ecosystem continues to work effectively towards the mission of self-reliance and self-sustainability as they have been in the past. The vision of Atmanirbhar Bharat is rooted deeply in the Startup Ecosystem and shall continue to prevail in the coming years.

The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.

India sees the emergence of the 100th unicorn

New Delhi: Noting that the number of unicorns in India has reached the 100-mark this month, Prime Minister Narendra Modi on Sunday said that even in the phase of the Covid pandemic, Indian startups have been creating wealth and value with entrepreneurs emerging from smaller cities and towns as well. In his monthly 'Mann ki Baat' radio broadcast, the prime minister said that on the fifth of this month the number of unicorns in India reached the 100-mark."The total valuation of these unicorns is more than USD 330 billion, that is, more than 25 lakh crore rupees."Certainly, this is a matter of pride for every Indian," he said. "You will also be surprised to know that out of our total unicorns, 44&nbsp;came up last year. Not only that, 14 more unicorns were formed anew in 3-4 months this year."This means that even in this phase of the global pandemic, our startups have been creating wealth and value," he said. Modi also pointed out that the average annual growth rate of Indian unicorns is more than those of the USA, UK and many other countries.Analysts also say that in the coming years there will be a sharp spike in these numbers, he added.Noting that the unicorns are diversifying, Modi said they are operating in many fields like E-commerce, Fin-Tech, Ed-Tech and Bio-Tech."Another thing which I consider more important is that the world of startups is reflecting the spirit of New India."Today, India's startup ecosystem is not limited to just big cities; entrepreneurs are emerging from smaller cities and towns as well."This shows that in India, the one who has an innovative idea, can create wealth," he said.Modi also stressed the importance of right mentoring when it comes to the world of startups."A good mentor can take a startup to new heights…can guide the founders in every way toward the right decision."I am proud that there are many such mentors in India who have dedicated themselves to promote startups," he said."It is a matter of great happiness for us that today a complete support system is evolving in the country for startups."I am sure that in the times to come, we will get to see a new flight of progress in the startup world of India," the prime minister said.In his broadcast, Modi also said that India is a rich treasure house of many languages, scripts and dialects."Varied attire, cuisine and culture in different regions is our hallmark."As a nation this diversity strengthens us and keeps us united," he said.Highlighting examples of diversity, Modi narrated the journey of Kalpana, who has recently passed her class 10th examination in Karnataka.The very special thing about Kalpana's success is that she did not know Kannada language till some time ago but she not only learned it in three months, but also proved it by scoring 92 marks.He also cited the example of Shripati Tudu, who hails from Purulia in West Bengal and is a professor of Santhali language at the Sidho-Kaano-Birsa University, Purulia.Tudu has prepared a version of the country's Constitution in his native 'Ol Chiki' script for the Santhali community, the prime minister narrated."This is a living example of the spirit of 'Ek Bharat Shrestha Bharat'."You will also find information about many such efforts furthering this spirit, on the website of 'Ek Bharat-Shreshtha Bharat'," he said.Modi also noted that on June 21, the 8th 'International Yoga Day' would be marked across the globe."This time the theme of 'Yoga Day' is - Yoga for Humanity. I would urge all of you to celebrate 'Yoga Day' with great enthusiasm...Also take precautions related to corona. By the way, the situation now is looking better than earlier across the whole world. "On account of more and more vaccination coverage, people now are going out more than ever; therefore, a lot of preparations are also being seen all over the world for 'Yoga Day'," he said."The corona pandemic has made all of us realise the overarching importance of health in our lives and Yoga being a great medium in ensuring the same."People are experiencing how much physical, spiritual and intellectual well being is receiving a boost through yoga," he said.—PTI

Noting that the number of unicorns in India has reached the 100-mark this month, Prime Minister Narendra Modi on Sunday said that even in the phase of the Covid pandemic, Indian startups have been creating wealth and value with entrepreneurs emerging from smaller cities and towns as well.

Indian startups created value, wealth even during pandemic: PM

New Delhi: Before the funding winter hit the Indian startup ecosystem, the country gave birth to at least 14 unicorns in the first five months of the year. According to Union Science and Technology Minister Dr Jitendra Singh, the country has risen from 300 to 70,000 startups in the last 8 years, which is a massive 20,000 per cent increase. “We should aim at a sustainable startup ecosystem because startups are going to determine the future economy of India. It is a matter of pride that globally out of every 10 unicorns, one is Indian,” the minister said during an event organised by the PHD Chamber of Commerce and Industry late on Thursday. “The concept of startup is still new to India so we should work collectively in this direction. We should explore sectors like agriculture, dairy and space which has immense potential and are exclusive to us,” Singh added.According to a report by market intelligence provider Tracxn, 14 Indian companies turned unicorns between January and June 1. Last year, India saw 13 unicorns in the same time period. Union Minister of State for Commerce and Industry Anupriya Patel highlighted the astonishing growth of the startups in a short span of time. “Startups are fueled by innovation and entrepreneurial spirit, spreading across the length and breadth of the nation. More than 50 per cent of startups are witnessed in tier 2 and 3 cities which are a sign of great success,” she told the gathering.Nearly 47 per cent of startup businesses have women as their director or CEO. India today has more than 70,000 DPIIT-recognised startups.PHDCCI President Pradeep Multani said that by leveraging its strengths in human capital and ICT (information and communications technology) services, and transitioning to a digital and knowledge-based economy, “India is fast becoming a breeding ground for innovation and startups”. “Knowledge economies use ICT, innovation and research and higher education and specialised skills to create, disseminate, and apply knowledge for growth,” he said. However, the startups ecosystem is witnessing a funding winter owing to Aglobal macro-economic factors that can last up to 18-24 months. As VC money disappears amid economic slowdown, tech startups have laid off over 20,000 employees the world over since April, while more than 8,000 employees have lost jobs at the Indian startups led by edtech platforms.The situation is set to get worse with recession looming and funding drying up. Several large investment firms like Sequoia Capital, Lightspeed Venture Partners, Craft Ventures, and Y Combinator etc have sent memos and footnotes to their portfolio companies and startups on how to endure the ongoing crisis.—IANS

Before the funding winter hit the Indian startup ecosystem, the country gave birth to at least 14 unicorns in the first five months of the year.According to Union Science and Technology Minister Dr Jitendra Singh, the country has risen from 300 to 70,000 startups in the last 8 years, which is a massive 20,000 per cent increase.

India Adds 14 Unicorns In 2022 First Half, Builds 70K Startups In 8 Years

New Delhi [India]: At a virtual meeting on Monday, Union Minister for Electronics and Technology, Rajeev Chandrasekhar, assured startups that his ministry will take up the matter with Google for a sustainable and long-term solution. During the meeting today, startups presented their concerns regarding a few "policies" of Google.
Recently, Google announced that it will be removing certain Indian apps from its Play Store. The reason behind this decision was a disagreement over service fee payments, as per reports.
Also Read: <a href="https://www.thehawk.in/posts/centre-asks-tech-firms-to-seek-approval-before-releasing-'unreliable'-ai-tools" target="_self">https://www.thehawk.in/posts/centre-asks-tech-firms-to-seek-approval-before-releasing-'unreliable'-ai-tools</a>&nbsp;
Subsequently, Google, however, restored all the apps on its Play Store. "There has been a deep and decisive transformation in India's startup ecosystem over the past 10 years. From fewer startups in 2014, we now have more than 1 lakh startups and 113 unicorns, with the potential to add 10 lakh startups and 10,000 unicorns in the coming decade," Chandrasekhar posted on X after the virtual meeting. "Under the leadership of PM @narendramodi ji, the Govt will continue to work towards a level playing field for big and small firms alike while creating an ecosystem that will catalyze growth for startups," he added in the X post.
—ANI

Govt to address startup concerns on Google policies for a fair play. India's startup ecosystem sees robust growth with over 1 lakh startups and 113 unicorns.

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India sees the emergence of the 100th unicorn

Sunil Aswal

The Hawk

Tag : Unicorns

India sees the emergence of the 100th unicorn

Sunil Aswal

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