India is one of the best countries to start an idea. With the surplus advantage of a huge target market, so many needs and a technological strong growing economy, India is stepping towards becoming one of the world’s strongest tech markets with the best startups in India. Having thrived at home for nearly a decade, India’s startup scene went global in 2018. Several young tech companies in India are all set to take on the world this year, some of which are Ola, OYO, Byju’s, Paytm, Swiggy, Zomato.
Indian entrepreneurs have been on a roll this year. The Indian startup ecosystem is brimming with business ideas that continue to enamor investors as well as the global ecosystem. On one hand, we have prodigies exploring entrepreneurship and people leaving their jobs to turn an idea they’re passionate about into reality. Meanwhile, there are others marking second (or even third) coming, leaving no stone unturned to outdo their last best product or service in the sector. Now, as the year comes to a close, bringing the best and most innovative startups launched in 2018.
More than 1,200 startups came up in 2018, including eight unicorns, taking the total number to 7,200 startups. It is important to celebrate startups and their successes, given the cutthroat world they operate in. Reportedly, 90% of startups in India fail within the first five years of inception. So, the ones that make an impact must be put in the spotlight, celebrated, and presented as an inspiration for new startups in the making.
The key growth drivers were enterprise software, fintech, healthtech marketplace and edtech. Data analytics, artificial intelligence and IoT startups have been witnessing fastest adoption across industry verticals. Being right at the centre of the Indian startup ecosystem, startups are just in the right place to judge which ones disrupted the industry and made a mark. Apart from all this, startups can boost the economy as a strong. Fortunately, they can increase the country’s GDP, generating employment opportunity in the economy. So far, startups in India have increased this year in which our country is standing on the second position following the United States of America. Startups hence provide great opportunities those who want diversify their business in the global emerging market.
V. Mahalaxmi Nadar