January 18 2022: The government of India has declared 16th January as National Startup Day. With the number of startups in the country having jumped to 60,000 from 500 five years ago, Prime Minister Narendra Modi declared this as India’s “golden era of startups”
There’s at least one startup in at least 625 districts across India. Nearly half of India’s all startups are in Tier-II or Tier-III cities
“Today India is rapidly moving towards hitting the century of the unicorns. I believe the golden era of India's startups is starting now”, said Mr Modi. Currently, India has around 82 unicorns.
Here are some industry reactions to the PM’s announcement:
Kausambi Manjita, Founder & CEO at Mason, a no-code SaaS platform: National Startup’s day is a great way to celebrate India’s success in building out globally relevant products and solutions. From the services win back in the 1990s to now becoming a hub for SaaS, it’s been an incredible journey. Just this year, we had 7 India-made products as finalists in the much-coveted Product Hunt Golden Kitty Awards, which celebrates globally loved software. Looks like we're already making waves, but Indian women-led tech products is still a step behind - only 1/7 was a women-led company (that's us!). Built-from-India for the world is now an everyday reality in technology. Hoping this yearly reminder opens up more diverse founders to come forward and build top-notch solutions for the world.
Sandeep Gudibanda, CEO and Co-Founder of HealthPlix Technologies: India is the third largest start-up ecosystem in the world, and its ranking on the Global Innovation Index has progressed to 46. This demonstrates that start-ups are driving innovation in India! It's no secret that this culture of start-up innovation, which didn't exist a decade ago, has put India on the global map and solving some of most difficult problems for Bharat! As the founder of a health tech start-up, I firmly believe 2022 will be a golden year for Indian healthcare system. Celebrating National Start-up Day will help to fuel the growth of start-ups, which will help us see through the pandemic era
Bala Sarda,Founder & CEO , VAHDAM India ( tea and superfood brand) : We are ecstatic to learn that Prime Minister Modi has declared January 16th as National Start-up Day, which will help to spread startup culture to the grassroots and enhance the country's startup ecosystem. We are confident that India's startups are being properly recognized and will undoubtedly contribute to the country's economic growth. This announcement affirms and encourages our skilled entrepreneurs to contribute to the country's needs through fostering innovation
Aman Gupta, Co-founder, media communications group SPAG: For India, start-ups have always been significant drivers of economic and business activity. The biggest driver to their success has been the policy environment created in the country. With the government’s latest announcement, startups get that big push which leads to endless possibilities for growth for India.
As communications specialists, we have over the years conducted an extensive qualitative analysis of start-up communications from an investor point of view and provided startups with a blueprint for the road forward, to set their expectations and understand the reality of investor communications, and guide start-ups on how to build communications strategies accordingly. There is a big opportunity for young entrepreneurs in the coming months and years as the government clears the way for smooth business.
Bhaskar Chatterjee, Head of Products & Marketing at Ezetap: The startup ecosystem in India has always been vibrant, but the last two years have been phenomenal; what with the country having more than tripled the number of unicorns in the last two years. The latest announcement of January 16 to be celebrated as National Startup Day is definitely a welcome development. Innovation and risk-taking are often glorified with very little thought to the things entrepreneurs put on line, to actualize their startup dream. A day like this may help bring about stories of grit and hard work to the fore and encourage young and upcoming entrepreneurs.
Rajul Jain, Co-Founder & CEO at Increff (an inventory optimization solutions provider): We have always been a nation of innovators and out-of-the-box thought leaders and I believe startups can bring back the past glory of India. The generalized perception of a foreign brand, technology, or product, being superior to its home-grown alternative is now broken and we have started valuing what is our own. It’s a proud moment for all Indian innovators and entrepreneurs who have been working hard to break the perception and bring India at par with the international brands. The launch of the National Startup Day celebrates the spirit of entrepreneurship which will encourage every individual, irrespective of their age, gender, educational background, to create an impact. The world is watching us and we have a long way to go. The future of technology and innovation is very bright, which will fuel the growth of the Indian economy.
Related report: Indian startups having a boom time, finds GlobalData survey (indiatechonline.com)