The year 2021 was a phenomenal one for Indian startups – from record fundraising to tech startup initial public offerings (IPOs), a record 44 startup unicorns to startups spending over $220 million (Rs 1,648.6 crore) on buying back Employee Stock Ownership Plans (ESOPs) – the sector had lots of reasons to cheer.
And, continuing the high spirits is the National Startup Day, announced by Prime Minister Narendra Modi, to mark the contribution of the ecosystem.
What does the day mean for startups and what are their hopes for the future?
“Getting such inspiring news ahead of the budget gives all entrepreneurs hope and a much-needed boost. This initiative will enhance awareness of the startup ecosystem and job creation furthermore accelerating support to the country’s entrepreneurial community,” says Pulkit Agrawal, Co-founder and CEO, Trell on the importance of entrepreneurship and having a symbolic day to celebrate the sector.
Startups of all sizes and across sectors are confident about the ecosystem as well as the new opportunities in the space.
“There cannot be a better time to be a startup in India. There is a high regard for homegrown businesses, consumer sentiment is buoyant, and there is a strong sense of community amongst start ups,” Apeksha Gupta, CEO and Creative Director of John Jacobs Eyewear says.
Finally, here’s what startups want in the year 2022.
Siddhartha Ahluwalia of Amazon Internet Services Pvt Ltd (AISPL), Mudrex Co-founder and CEO Edul Patel, and Nexus Venture Partners’ Pratik Poddar discuss the latest trends in blockchain and cryptocurrency at a time when Web 3.0 is steadily gaining popularity in India.
Editor’s Pick: Women in Fintech
According to YS Research data, in the last 12 odd years, close to 214 fintech and financial services startups have been founded by women as founders and co-founders. One of them is also the IPO-bound startup — MobiKwik. The data further reveals that between 2015 and 2021, women founder-led fintech startups won approximately 22 deals, amounting to $40.34 million.
In conversations with HerStory, five women founders discuss building their fintech startups, how there can be more women leaders, and building products for the woman consumer. Read more.
Corporate travel startup Tripeur integrates with adjoining HR and expense systems of corporates to offer products like trip creation, approval, tickets for all services, policy adherence, behaviour shaping, analytics for savings and compliance.
With Tripeur, users can plan, monitor, control, and optimise their travel functions on a single platform, coupled with the service goodness of legacy travel companies. Read more.
Founded in 2016 by Vijay Sharma, Anupam Deo Arya and Sandeep Sharma, Fabriclore, which literally means traditional knowledge of fabrics, is an online brand that aims to revive India’s use of both traditional and modern cloth by delivering high-quality curated fabrics.
The brand works in close collaboration with contemporary designers to co-create spectacular boho and fusion designs in both clothing and home furnishing. Read more.
Before you go, stay inspired with…
“Humility is an important attribute that founders should have. The more successful you become, the more humble you should be because the forces that give you value are much bigger.”