India to house 60,000 start-ups and 100 unicorns by 2025 despite covid impact

~ GARGI

India, the second most populous county in the world, has been experiencing the mushrooming of startups for decades now. The startup ecosystem in India is so well established,that a recent report by TiE,a non profit organisation devoted to entrepreneurs in all industries and Zinnov,a global management consultancy company, stated 'India is expected to have 60,000 start ups and 100 unicorns by 2025'.The estimated value of the same is USD 1 billion.

A report titled " Covid-19 and the antifragility of Indian startup ecosystem" said Indian startup has attracted USD 14.5 billion funding in 2019.There was a dip in the overall funding by 50%, due to the Covid-19 outbreak, while almost 40% of the startups were negatively impacted and around 15% were forced to discontinue.Automotive, travel and hospitality,mobility and logistics are among the most affected segments and have seen a significant drop in funding as against online gaming,electronics, e-commerce,digital payments,online grocery,online stock brokerage who have not only recovered but also experienced a growth of 10-15%.

Comparing the business data from February 2020 and September 2020, the report suggested that India is already on the path of recovering from the loss that the pandemic bestowed upon us.Despite being the biggest pandemic ever India,a developing economy is likely to produce the same number of unicorns as 2018-19 which highlights how the startup ecosystem in India is well developed and adaptive in nature.These startups are likely to create around 1.5-1.6 million jobs by 2025,of course these results would remain flat in 2020 as 25,000 sectors have been severely affected by the pandemic.

Four Indian startups,namely Nykaa,Unacademy,Postman and Razorpay, emerged as unicorns while the pandemic was at it's peak.India is likely to produce 8 new unicorns in 2020, making the total number of Indian unicorns 33!

Although the immediate impact of the lockdown in India resulted in a negative impact on the Indian startup ecosystem, the swiftness with which the entrepreneurs revaluated their business plans and redesigned their outlay stupefied everyone and proved just how vigilant and creative these entrepreneurs are!

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