A Look into the Indian Startup Ecosystem


BENGALURUIt was just last week on 23rd July when the Department of Industrial Policy and Promotion (DIPP) conducted a Startup India States’ Conference. The Conference was held to provide the startups with a platform to discuss their progress, policies, and practices that they have adapted as the Startup India Initiative, according to the Press Information Bureau, Government of India Ministry of Commerce and Industry.

Ever since the beginning of 2016, when the PMO launched the ‘Startup India’ initiative, India has grown with over 3000 startups until today, and the figure is expected to rise up to 10,000 by the end of 2020, according to the NASSCOM 10000 Startups Report. The report also illustrates that India is the fastest growing startup community.

The conference created a picture that 2016 has surely been a tough year for the startups, as the entrepreneurs faced several difficulty in raising funds and in turn gaining profitability. Being in the do or die situation, there has been a few startup firm that have done a good business in the tough and competitive environment. According to the economictimes.indiatimes.com following are the few startups that are leading the race of earning the maximum profitability and have been the most funded Indian startup.

Leading the list, Ibibo is the topmost funded startup firm that helps users book tickets seamlessly for flights, buses, trains, cabs, in a click of a button. The company along with its parent Naspers raised nearly $250 million earlier this year. Following the footsteps of Ibibo, Snapdeal is the second online ecommerce that has also secured $200 million in February. Although started at a slower pace, next comes in the picture is our online grocery friend—Big Basket that in summer raised nearly $150 million funds, taking the third place in the race. Unlike the Big Basket, the largest automobile startup, CarTrade never has its tap dry and by the mid 2016 managed to raise up to $145 million. Likewise, Byju’s learning app, both text and video for various competitive examinations is not far from reaching the topmost position in the list. The mobile app has managed to raise up to $75 million and expects to become the biggest funded Indian startup. Next comes in the picture is our eye care expert, Lenskart, striding boldly with the latest round of funding of $60 million. Although these are the topmost ones, the list goes on and on and further includes startups—Mobikwik, Nestaway, Melorra, and Bookmyshow, so on and so forth.

In the Startup India States’ Conference, the ministries and departments handling the Startup India Initiative along with the startups further discussed on where they envisage the Startup India Action Plan and how they plans to achieve the same. 

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