JUNE 20224"It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things". This powerful message was given by Leonardo da Vinci. It holds true for India Inc. too, well, if you follow the ups and downs of an Indian entrepreneur. 2022 was a big bang of sorts for the Indian startup ecosystem. Having raised $11.7 billion in the first quarter of the year in venture capital funding, the country has already made a fortune of 14 unicorns this year, including its 100th unicorn. From the first unicorn in 2011 to completing a century of startups valued at a billion-dollar or more in almost a decade, Indian entrepreneurship has achieved a historic feat. This gives an average of 10 unicorns a year, however, the real push came in the last 16 months or so. Since the start of 2021, India has minted more than half of its 100 unicorns ­ 58 to be precise.There is a notable slowdown and some industry moguls have coined the term 'Zombie Unicorns' for such startups. With more than 60,000 startups in India, Prime Minister Narendra Modi has labelled the current decade a 'techade', in which he added, 'New unicorns are coming up every few weeks.' However, April was the first month in more than a year that India had no new 'unicorns', a term for startups with valuations above $1 billion. This needs to change in the forthcoming months. Indian companies seldom lay back in peace, as they inevitably face periodic challenges. Most often, it is the decline in demand, and the consequent supply side disruptions. The recent pandemic ensured that they faced both simultaneously. India has managed to tackle this double whammy well. Its only to see whether the short term glory will turn into a spotlight success for these unicorns.Do let us know what you think.Emanuel Christi DasSpecial EditorLooking for a Silver LiningEDITOR'S NOTE Vol 7 · Issue 8 - 1 · JUNE- 2022 Publisher Alok Chaturvedi Special Editor Emanuel Christi Das Editorial Team Monica Pallavi J Hridkamal Roy Akankha Chak Sales & Marketing Deepika S. Nischita Prakash Naik, Arvind Chakaravathy Editorial Queries startupcity@siliconindia.com To subscribe Visit: www.siliconindia.com/subscribe/ Cover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Biz Print Media Technologies Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2022 Biz Print Media Technologies Pvt. Ltd. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.sales@startupcity.comGroup Art Director Ashok KumarCirculation Manager Magendran PerumalVisualisers Girisha M Rajesh R. BVP Sales & Marketing Shashi Ranjansiliconindia
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