SEPTEMBER 20238s the 5th largest country in global economy, India has witnessed tremendous growth and development in recent decades. With a vigorous economical strand and powerful partnership, India has become a global hub for investments and entrepreneurships. Startups businesses are playing vital role in fostering innovation to achieve robust socio-economical development of India. Today, business market is overflowing with new, innovative and sustainable products and services, thus tech-based startups are powerfully evolving to generate high return on investments. They leverage cutting-edge technologies and innovation to make the products and services more agile and successful in business. Technological advancements have successfully brought various changes in all most all aspects of business by helping the startups in automating the functionalities, increasing efficiency, enhancing customer satisfaction and retention. The tech-based startups are hub of innovation and creative platforms with immersive potential for boosting entrepreneurship spirit among young minds of India. Moreover, startups are adopting technological advancements such as IoT, AI & ML, Big data, data cloud, blockchain, and software to develop and produce more sustainable products and services which are most essential for living modular as well as sustainable lifestyle. These tools are characterized with greater enhancement with more advanced approaches. Thereby, the tech-based startups are not only uplifting the standards and promoting sustainability, in fact they are immensely contributing in the growth and development of Indian economy. FinTech: Due to the need of speedy financial services and rise of online payments and transactions, FinTech industry is growing rapidly. A drastic shift has been witnessed and transfigured the traditional methods for investing and making payments. FinTech startups are thoroughly leveraging technological solutions and these solutions are playing efficient role in bringing digital financial services to all types of organizations. Technologies like cloud computing, Big data, IoT are playing efficient role in finTech in improving data transition, ensuring cyber threats and security and privacy of financial transactions and so on. The popular finTech services running successfully are Pine labs, Bharat Pe and so on. Technology is efficiently merged with financial services in order to provide high speed payment engine. They are utilizing AI in their services effectively for fraud detection, speeding up transactions, enhancing the customer care and creating digital wallets. They have indeed made the complicated financial services easy and comprehensive to all. In addition, they have improved the customer experiences in transactions and investments with enhanced security structure. FinTech startups are constantly assisting the business platforms to achieve their financial goals and maintain good record of capital statistics. FinTech startups are attracting more domestic and foreign investments. Thereby, FinTech startups are impacting the overall landscape of Indian economy.EdTech: The technological advancements have improved the standards of education system by upgrading every aspect of education. There is increasing demand for innovative solutions and technological requirements in education industry. From preparing content to delivering content, both teachers and students are effectively harnessing technology. Thus, technological revolution has exhibited numerous opportunities for EdTech startups. These startups are offering innovative products and services for learners and teachers; they are providing easy access to affordable options of teaching & learning in various forms such as virtual classes, online platforms, digital learning applications, AI-based software, gaming and learning and more. Today education can be accessed from anywhere and anytime, all age people can rekindle their idea of graduating and becoming skillful with the help of a few successful EdTech startups in market such as Coursera, Unacademy, Udemy, Hello English, and so on. `Coursera' provides online tech certification courses for students and working professionals. `Udemy' offers online classroom platforms for students to attend classes for various subjects with qualified experts and instructors. `Hello English' is a language learning application enhanced with AI powered technology and helps the students to learn professional Spoken English with interactive features. `Unacademy' is a platform that offers different courses for school going kids and also for those who are preparing for government examinations like UPSC, IBPS, RRB or SSC. According to Statista, the whole market size of EdTech in India was estimated 2.8 billion and projected to reach 10.4 billion by 2025. GameTech: Gone are the days when we used to play the conventional online games with regular norms. The emergence of AR and VR technology has entirely restructured the gaming industry with various advancements. It enabled the gamers to play with AEVOLUTIONARY GROWTH OF TECH-BASED STARTUPS SC COLUMN
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