article by Sneha Singh
India’s tryst with startups started with the advent of Flipkart in 2008. Over a decade later, India is the 3rd greatest startup ecosystem after the countries such as USA and China. India is today home to more than 60 lakh startups.
Up until now established firms were banking on the potential of these startups and many firms either made big investments in them or acquired them. But the tables have now turned
Take the example of Mamaearth, India’s leading beauty brand acquired the traditional haircare and salon business, BBlunt from Godrej Consumer Products or Cult.Fit which acquired a significant stake in Gold’s Gym.
A new trend that shows that startups want to learn from established firms and probably make a change in their business model.
Startups are scripting new success stories by investing in standard corporations
More startups, more funding, exits, and wealth creation will occur as additional capital flows.
This acquisition is a signal of reinventing the approach to talent and solves the problem of innovation and influence as unicorns support the fundamentally strong brands that align with their concept.
The startup investments strive to produce immense value into their ecosystem, developing top-notch tech advancement, great business opportunities, and more profitable returns for both partners in the long run.
Why are startups important for the business ecosystem?
A report by NASSCOM states that by 2025, the Indian startup ecosystem is foreseen to have 180-200 unicorns and 37,000 tech startups with an accumulative worth of $600-700 billion.
India is moving towards making a century in unicorn startupsNarendra Modi, PM
It is essential as a nation to support startups actively. The Indian startup movement will become the herald of assets creation for 1.35 billion Indians desiring to have a more refined quality of life.
Above all, the pandemic has shattered the growth of many well-known brands, and many traditional businesses all across the globe are boosting their efforts to become digitally intense. This has less to do with technology and more to do with business practices and mindset, which means speed and innovative creation.
Startups and unicorns present an immense potential and scope to accelerate the pace of growth and deploy the latest strategies to optimize the results for other businesses. This makes it super important for all the founders to wake up and leverage this prospect.
The Centre also keenly sponsors goods and services built and incubated within the country to make the nation self-dependent and rely less on exporting commodities and services from other nations.
Contemporary India is today being led by a unique passion for innovation, technology, and entrepreneurship. The performance of the Indian startup ecosystem in 2021 has demonstrated the strength and commitment being positioned by numerous startups across all segments. The ecosystem has matured incredibly and placed itself as an essential contributor to India’s digital economic growth.