The State Of Indian Startup Ecosystem Report 2023

Summary

The Indian startup ecosystem has experienced incredible growth since 2014. What began with just a few startups has now evolved into a thriving landscape of innovation. Over 68,000 startups have emerged, collectively raising more than $140 Bn in funding. While the funding challenges brought about by the funding winter were tough, they prompted startups to focus on profitability, better governance, and other essential aspects. This process has solidified the foundation of the startup ecosystem. Several factors have propelled this growth, including the widespread use of the internet and smartphones, the emergence of global and domestic funds, and supportive government initiatives. As a result, by 2030, India will witness the launch of around 180,000 startups, with over 280 unicorns and a combined valuation of $1.5 Tn. This narrative paints a promising picture for the future of Indian startups.