India added 1,600 tech start-up, 12 unicorns in 2020: Nasscom report


As India moves towards becoming a digital economy, the technology start-up ecosystem continues to witness a significant growth trajectory on the back of rapid digitalisation and tech adoption. A and Zinnov report says over 1,600 were added to the ecosystem last year with a record number of 12 new unicorns – the highest ever added in a single calendar year. The Indian tech start-up base is witnessing a steady growth at a scale of 8-10 per cent yoy, according to the report titled Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy. Indian start-ups not only managed to stay afloat amidst uncertainties and rapid experimentations after the pandemic outbreak, but also strategically strengthened their playbook by converting the crisis into opportunity. Depending on headwinds, 2021 promises to be a positive year for Indian – marching steadily towards a trillion-dollar goal.




–Tech start-up base continues to expand steadily at 8-10%

— Record 12 unicorns added in 2020 – highest ever in a calendar year



— Investor sentiment recovered with H2 2020 funding up by 90% over H1 2020

— 2,100 start-ups leveraged deep-tech up from 1,600 in 2019

— Potential unicorn pipeline stays strong with 1.5X growth since 2019


Core growth drivers for 2020


.


  • Digital acceleration, shift to SaaS-based solutions & moving from offline to online

  • Vocal-for-Local provided market support for start-ups to thrive

  • Remote work enabled start-ups to reduce burn whilst accelerating growth of new start-up hubs


  • Converting crisis into opportunity


  • 30-35% start-ups are offering remote roles

  • 50-55% founders believe profitability to be given weightage alongside valuation

  • 28-30% start-ups targeting overseas market

  • 40-45% diversified products to adjacent businesses post lockdown

  • 66% founders exploring partnerships post Covid-19 outbreak


Sectors coming of age


Healthtec: 2.2x growth in online consultations


Edtech: 1.9x growth in online users


Enterprise: 58% unicorns from B2B tech startups


Agritech: 2.5x growth in online retail share

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Comment

Your email address will not be published. Required fields are marked *