Startup Awards: Runway cleared for more unicorns to take flight

By Team Startupcity  |  Monday, 21 November 2022, 09:12 IST

Startup Awards: Runway cleared for more unicorns to take flight
There is huge scope for the mushrooming of more startups and the consequent generation of employment as new-age companies look to ride on the economic growth being driven by the Indian government, V Vaidyanathan, MD and CEO of IDFC First Bank, said in his closing remarks at the Startup Awards.
“We have 100+ unicorns, and soonicorns waiting in the wings to join the billion dollar plus valuation club. Almost 20,000 startups are founded every year, and I believe it’s only going to get better in future,” said Vaidyanathan. IDFC First Bank was founded by the merger of Capital First and IDFC Bank in December 2018.
Vaidyanathan thanked Ashwini Vaishnaw, union minister of railways, and Piyush Goyal, union minister of commerce and industry, for their efforts in contributing to India’s ambitious growth story, and lauded Karnataka chief minister Basavaraj Bommai’s plan to develop Bengaluru further as the startup capital of the country. 
With the Digital India mission being driven by the Indian government and the creation of platforms like ONDC (Open Network for Digital Commerce), the time is ripe for more and more companies to become unicorns, Vaidyanathan said. He also lauded former UIDAI chairman and Infosys co-founder Nandan Nilekani for his efforts in building the initiative.

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