SEPTEMBER 20239immersive virtual experiences by using wearable headsets and VR glasses. Developers are incorporating AI powered and machine learning algorithms to enable us to play with more realistic and multifunctional abilities. Implementation of technology in gaming industry has led to establishment of numerous gaming studios in IT sector, further giving way for young minds and new ideas to evolve by boosting their confidence and enhancing their professional skills and knowledge. Smart phones along with uninterrupted network connection have greatly increased the demand for gaming applications. Hence, gaming industry fosters the talented pool of startups and investors.HealthTech: In the landscape of healthcare industry, HealthTech startups are playing crucial role in recent days. By leveraging technology and innovation, HeathTech startups have eliminated the various challenges in accessing quality and affordable healthcare services. Startups have established enormous healthcare digital platforms and telemedicine solutions to allow the patients to consult doctors anywhere and anytime, it has eliminated all the geographical barriers particularly in remote areas where there was limited accessibility of healthcare services for ages. Additionally, they have introduced cost-effective solutions to enhance affordability of medical services. Technologies like AI & ML tools are designed and utilized for preventive diagnosis, customizing treatment schedules and effective patient monitoring activities to improve the healthcare process. Furthermore, the health care system has enhanced widely with the evolution of technologies like wearable and cloud technology. The wearables have been used for medication remainders, checking vitals and storing the patient information accurately. Now-a-days, these wearables identify suspected arterial fibrillation of people. Cloud technology helps in hospital record management with improved information security. A well known healthTech application, Healthifyme, leverages AI powered virtual assistant in their services to answer the questions of users about fitness and nutrition. A healthTech startup, Niramai harnesses AI tools to detect the breast cancer in prior stages. Due to technology, multi-faceted startups catering various aspects of health from diagnosing to consulting to solutions have come up to improve and develop healthcare system and hence HealthTech startups are immensely contributing in skyrocketing Indian economy in all aspects. AgriTech: Agriculture is an inevitable backbone of India which has empowered the Indian economy from ages. Now technology disruption in agriculture has made the AgriTech industry to evolve and revolutionize the industry with immense benefits. Science and technology has brought innovative solutions equipped with digital tools in agriculture business sector. Technologies like AI, ML, automatic earth observation, cloud computing and IOT based sensor analytics has garnered this sector by improving productivity through analyzing crop health in prior and use effective solutions to solve the issue. A leading agriTech startup Kisaanpro is rightly utilizing the AI & ML based forecasting tool in their business application to increase the farmer's income by enabling the prepaid wallet for farmers. These factors have greatly improved the standards of farmers which are majorly contributing in overall growth of Indian economy.SaaS-based Startups: SaaS refers to Software as a Solution. The expansion itself shows the significance. The increased adoption of cloud computing and wide range of internet accessibility thrived major impact to SaaS startups. Software solutions are affordable and do cater all types of business of various forms & sizes such as CRM software (Customer relationship management), project management, human resource, financial solutions and so on. Industries & organizations are heading towards SaaS based companies to empower their business in all areas. A top Indian multinational company SaaS based company Zoho Corporation playing significant role in supporting banking industry by enhancing the services much more efficiently and by increasing the productivity using computer software and web base business tools. According to the report by Business Today, the market size of Indian SaaS based firm have raised four times to $12­$13 billion in 2022 and the investments grown six times to $5 billion during past five years. Undoubtedly, SaaS based startups have great potential in shaping the Indian economy and scaling-up the position of India in global market. Summing-upThe present state of startup tech in India is scintillating. India is expected to be positioned among top III super powers of global economy within 10 to 15 years. Startups are potential players who are consistently contributing in achieving the goal. In shaping the India's economical status in future, the significance of startup ecosystem have proved to be pivotal. Government and corporate initiatives are conducting annual meets, technical trainings and entrepreneurial summits to foster the development of tech-based startups to make further expansion. In addition, the Economic Times conducts various summits every year focusing on different business sectors. And one such educative summit is Soonicorns summit, initiated to promote the next frontiers of startup ecosystem by enabling the aspiring entrepreneurs to collaborate with major investors, unicorn and soonicorn founders of India. These types of summits and entrepreneurial programs are fueling the growth of startup ecosystem furthermore. Therefore, startups have started to evolve as key drivers for technological innovation and advancements in various dimensions, thus economical status of India will be booming and blooming very soon. After all India is one of the fastest growing economies in the world, thereby it will be continuing its progress in upcoming days too. Good jobs, educative programs, benefiting schemes, innovative technology and young and fruitful minds will surely help in achieving green, resilient and inclusive growth and development.
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