The State Of Indian Startup Ecosystem Report 2023

The State Of Indian Startup Ecosystem Report 2023

As we navigate through these remarkable figures, it becomes evident that India’s startup journey is on the brink of an…

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The State Of Indian Startup Ecosystem Report 2023

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights


Startups In India By 2030

141 Bn+

Total Capital Invested Between 2014 & H1 2023


Active Startup Investors By 2030


Indian Unicorns

$500 Bn

Combined Valuation Of Indian Startups

759 Mn

Active Internet Users

Table Of Contents

  • India’s Digital Economy: An Overview
  • India’s Startup Ecosystem: An Overview
  • Decoding The India Opportunity
  • Indian Startup Funding Trends [2014 to H1 2023]
  • Sector-Wise Landscape
  • Top Indian Startup Hubs
  • Decoding India’s Startup Investor Ecosystem
  • Exit & Returns
  • India’s Unicorn Landscape
  • Gender Diversity In Indian Startup Ecosystem: An Outlook
  • Decoding India’s Untapped Market Opportunity
  • The State Of Indian Startup Ecosystem Survey 2023


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.

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