What started as a software intensive hub has now expanded across industries and services branching out of the e-commerce tree. The largest root of that tree lies in Bangalore, India’s largest startup hub, followed by Delhi, Mumbai and Hyderabad. Many of these companies have found success with a keen eye for the hitting the niche in the market gap and the right funding. Between 2012 and 2017, eight unicorns (term used for when a startup is values at over one billion U.S. dollars) were recorded, blazing the trail through accelerators and incubators to reach the venture capitals.
The startup funding in India has attracted big investors from across the globe. Japanese giant Softbank alone accounts for over 580 billion Indian rupees since 2014. Flipkart, arguably the country’s most successful startup and Amazon India’s biggest competition was recently acquired by the American retail company Walmart. Other companies which have become household names in the last decade include SnapDeal (an online store based in Delhi), Ola, (the market leader in India’s ride-hailing market), and Paytm (an online payment service and digital wallet company) to name a few.
There seem to be very few shortcomings in the country’s explosive startup economy, with an increasing number of newborns while the toddlers continue tying up with large conglomerates in a bid to expand and establish a name in the market.