January 19, 2021
Will ride on rise in adoption of digitisation, new technologies, say experts Numbed by the pandemic, fund-raising by start-ups fell 35.9 per cent in 2020, but riding on a rise in adoption of digitisation and new technologies, this year is expected to be much better. The industry expects the sector to be on fire again, with a 50 per cent increase in fund raising in 2021 from last year and a 25 per cent rise from 2019.
“In 2020, fund-raising happened only during the first three and the last three months of the year. While markets grew due to rising adoption of digitisation, this year, we are expecting a whole lot of Initial Public Offerings (IPOs). Looking at the trend for three years — 2017, 2018 and 2019 — the rise in funsd-raising was about 25 per cent, and this year, it should be on similar lines,” said Rehan Yar Khan, managing partner at Orios Venture Partners.
The Startup India initiative was launched five years back.Despite the pandemic-led disruption, 11 startups turned unicorns in 2020, with over 30 startups in India today valued at over $1 billion, Modi said
India 3rd largest startup ecosystem; home to 21 unicorns: Ambassador to US
Sandhu said according to a recent report, Indian startups raised $9.3 billion until mid-December this year
PTI | January 6, 2021 | Updated 12:40 IST
Rise of Indian IT companies, large talent pool, increased expendable income of Indian middle class and availability of capital have contributed to the growth of India's startup ecosystem
India is currently the third-largest startup ecosystem in the world and is home to 21 unicorns valued at $73.2 billion, India's top envoy in the US has said, as he expressed hope that more than 50 startups might join the unicorn club as early as 2022. Entrepreneurial activity has picked up in India. In 2020 India was among the top 50 innovative economies," India's Ambassador to the US Taranjit Singh Sandhu said.