In just couple of years ecosystem of Indian startups has taken a huge leap. It has come a long step which is driven by factors such as technology evolution, huge funding. Startup revolution is clearly understood from the fact there were 3100 in 2014 and this number is projected to go over 11500 startups by 2020, it is certainly going to change market scenario in India.
Let us go through key aspects of the Indian startup ecosystem and the steps that need to be taken. Let us start few disruptive startups and how they got funding recently. Disruptive innovation means
There many startups which have captured entirely new segment of market or unearthed gaps in the existing market. There are many more stories to tell but we will take a look at some of the famous examples.
As India is one major consumer of mobile phones, this company capitalized on this opportunity and decided to revolutions the m-commerce in India. Its success is clear from the statistics. 15 million orders per month and boosting mobile wallets of 80 million people .it is leader in its sector, providing services to big companies like Dominoz, Uber etc.
They started off very well and recently surpassed all its competitors within 2 years of its launch. Their recent acquisition Business Intelligence a Delhi based company for an estimated USD 2-4 millions has clearly states its intention of becoming leader in the market.
Last year it had raised funding of $90 million from Softbank a Japanese telecom giant. They are investing heavily in their in-house Data Science Lab (DSL) and expansion into more cities.
As the economic is opening up in India, it has become one of the major investment destinations for foreign companies. Investment of companies like Tiger Global Management (TGM) in Indian startup has given confidence to other investors.
Here are few examples of foreign investment in Indian startups:
- In the starting months of 2015, TGM has emerged as the top investors. Out of its 26 funding 18 has gone into startups.
- Sequoia Capital a sequia based company has invested worth $208 million in 2015.
- Accel Partners has invested in Internet technology companies like BookmyShow, Myntra etc.
Current Investors in India
Sector wise funding
Startup Ecosystem facilitators
The number of startups in India is increasing day by day. The reasons behind these the some facilitating bodies that make them work. Bodies like NASSCOM and iSpirt bring together various players of this ecosystem including venture capitalists, accelerators, angel investors, startup incubators etc. they provide solutions from advising on government policies to act as market catalysts.
NASSCOM has started an initiative named “10,000 Startups”, with aim to scale up startups industry by 10x, its program will definitely impact technology companies in helping in raising funds on the other hand iSPIRT is a think tank whose sole aim is to promote existing software companies. They are trying to create Silicon Valley in India
India needs to learn many things from all this activities. To make this all successful many established entrepreneur should come out to support other emerging startups through mentoring. India is witnessing women entrepreneurs starting to become more prominent in the innovation economy. This can help country in one way or another.