Busy year ahead for startups in India
With funds pouring in and many IPOs in the pipeline, the year 2025 promises to be an eventful year for Indian startups
Hyderabad: From around 500 startups in 2016, India boasts this number as 1,59,157 today. No wonder the country has the third-largest startup ecosystem in the world which includes over 100 unicorns.
To give a boost to the startup culture, the Government of India launched the Startup India initiative in 2016. Today marks the ninth year of this initiative and is celebrated as National Startups Day.
Right from fintech, and edtech to health-tech and e-commerce, startups are playing a crucial role in driving economic growth and creating employment opportunities across industries.
Besides making life easier, companies like Zomato, Nykaa, Swiggy, and Ola are also at the forefront of creating jobs. As of October 31, 2024, DPIIT-recognised startups have created over 16.6 lakh direct jobs across various sectors, significantly contributing to employment generation.
The IT Services industry leads with 2.04 lakh jobs, followed by Healthcare & Lifesciences with 1.47 lakh jobs, according to the Department for Promotion of Industry and Internal Trade.
Taking to X on Thursday, Prime Minister Narendra Modi said people would doubt India’s ability to thrive in this system just a decade ago. “Over the past nine years, this transformative program has empowered countless youngsters, turning their innovative ideas into successful Startups”, he wrote.
Sameet Gupte, co-founder and CEO of EvoluteIQ, termed it as a movement with a purpose, fueled by bold ideas and a fearless commitment by a new generation of entrepreneurs. “India’s startups are shaping the future”, says the intelligent business automation firm chief.
The year 2024 was also one of the best for Indian startups in terms of funding. They raised over $11 billion in 2024, up from $9.4 billion in 2023, according to Venture Intelligence. Quick commerce firm Zepto alone raised more than $1 billion during the year.
It was also the year when 13 startups went public. While Swiggy came out with a $1.3 billion IPO, the largest tech public offering worldwide in 2024, Go Digit, TBO Tek, Awfis, Ola Electric, FirstCry, ixigo and Unicommerce too listed on the stock exchanges. At least 25 new-age companies are expected to go public in 2025, according to Moneycontrol.
“As new companies solve new-age problems, there is a paradigm shift in the way business is transacted, and value is created”, says Vikram Subburaj, CEO of cryptocurrency exchange platform Giottus.
