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India is becoming a big global power, in this case it beat China for the second year as well

India Entrepreneurship Report: Efforts to make the country self-reliant (Aatmanirbhar Bharat) in various fields have picked up pace. In recent years, the improved environment for entrepreneurship in the country is helping in this. This is the reason why when the world of startups and entrepreneurship was struggling, they continued to flourish in India. Due to this, India has defeated China for the second consecutive year in terms of maximum number of unicorns in India.

more unicorns than china

This information has come to the fore in a latest report, which has been prepared by Bain & Company. Bain & Company in association with the Indian Venture and Alternative Capital Association has published the latest edition of its annual India Venture Capital Report. According to the report, even during the year 2022, the pace of startups becoming unicorn in India continued and in this case, India left behind China for the second consecutive year.

what are unicorns

Startups are called unicorns, whose value touches the level of $ 01 billion before being listed in the stock market. It is usually decided according to the valuation received by startups during funding.

small town atmosphere

According to the report, 23 new unicorns were created in India last year. Not only this, but another good thing also came to the fore that now the development of startups is happening outside the metro cities as well. Funding of startups in non-metro cities increased by 18 percent during the last year. Of the 23 unicorns created in the country during the year 2022, nine are from outside the top-3 cities. This shows that funding of startups is becoming democratized in India.

This effect of challenges

The figures shown in the report show that during the year 2022, venture capital investment in India was affected by macroeconomic uncertainty and fears of recession. During 2021-22, the value of deals in India came down by 33 percent from $ 38.5 billion to $ 25.7 billion. According to the report, this decline occurred more during the last six months of 2022. However, even after this, momentum remained for early-stage startups and more than 1600 deals were done in this segment last year.

These are the expectations from 2023

Arpan Seth, Partner, Bain & Company, said overall funding declined during 2022. Large deals, especially in the later stages, were reduced. Extensive changes were seen in the ecosystem. Startups have had to deal with problems ranging from various regulatory challenges to layoffs and issues related to corporate governance. However, even after this, some sectors kept the expectations intact. Funding in software as a service remained around the high level of 2021. We hope that in 2023, a solid ecosystem will emerge in India.


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