As National Startup Day dawns, we celebrate the vibrant energy of India’s entrepreneurial landscape. Fueled by innovative minds and agile businesses, this dynamic space isn’t just buzzing with potential – it’s already shaping the nation’s progress. Dive deep into the stories of pioneering entrepreneurs who’ve scaled the ecosystem, creating jobs and economic buoyancy and driving meaningful innovation across sectors. Witness the power of disruption, the resilience of passion, and the unwavering spirit powering New India’s economic and social transformation, brick by entrepreneurial brick.
Baatu Tech
Sandeep Kumar, Founder and CEO, Baatu Tech
National Startup Day marks a day of celebration of India’s entrepreneurial spirit and breakthroughs. It’s a reminder to reflect on innovation potential, particularly in safeguarding our children’s future. At Baatu Tech, we’re not merely building a startup but crafting a secure digital realm for young minds to flourish. My entrepreneurial journey began at the age of 20, however, the genesis of the Baatu device stemmed from my experiences and observations over the years. It was inspired by the realization that while technology is accessible to everyone, there’s a significant lack of consideration for those under 18.
Our proprietary technology, featuring cutting-edge AI, equips parents with unparalleled tools and insights for fostering responsible digital parenting. We don’t just empower parents; we offer a comprehensive safety net. From AI-powered text and visual trackers to location monitoring and screen time management, our mission is to transform technology into a secure playground, safeguarding our children from online threats lurking in that space.
The Indian startup ecosystem brims with passionate ventures addressing real-world issues. Navigating this challenging landscape demands grit, resilience, and laser focus on your vision. I advise aspiring entrepreneurs to believe in their ideas, maintain discipline in their approach, and persevere in execution. Surround yourself with an exceptional team, and never be afraid to dream big.
MediBuddy
Enbasekar D , Co-founder & CTO, MediBuddy
“India’s startup ecosystem, transforming the nation’s economic and social dynamics, owes its success to a combination of factors. A government that encourages entrepreneurship, a robust digital infrastructure that enables innovation, and a young, enterprising workforce ready to take risks and innovate are all contributing to the rise of startups across various industries.
Our country’s startup economy, the world’s third-largest with over 100 unicorns valued at $340 billion, is making waves across growth aspects. The real game-changer is the evolution of startups to cater to ‘Bharat’ – the vast population beyond major urban hubs. Once deemed too remote, these areas are seen as significant markets, and startups are stepping up to meet their unique needs.
The convergence of healthcare and technology leads to great opportunities. Health tech ventures are taking quality, affordable solutions to smaller cities and rural areas, addressing gaps in infrastructure and awareness. The innovative use of digital platforms allows startups to improve access to high-quality healthcare for millions nationwide today. While we celebrate India’s achievements during National Startup Day, this is the beginning of our country’s much more significant potential for innovation and entrepreneurship.
As startups permeate the social and economic landscape, they are uplifting lives while reshaping traditional industries. The current trajectory has firmly consolidated India’s position on the global innovation map.”
Silence Laboratories
“National Startup Day reflects India’s commitment to nurturing an ecosystem where technology and entrepreneurship are not just encouraged but are also aligned with global standards of data integrity and privacy. India’s remarkable journey in digitalizing public infrastructure, especially through initiatives like the UPI, Account Aggregation and ONDC exemplify this commitment. These platforms have not only democratized financial transactions but have also set a global precedent in efficient and secure digital payment systems and collaborations.
As we advance, the focus on privacy and secure data collaboration becomes increasingly critical. The rapid digital transformation in India necessitates a paradigm shift towards ‘privacy by design’ – integrating privacy at the foundational level of technological development.
India’s unique position in this digital era is not just about adopting new technologies but about pioneering in building next-generation digital public infrastructure that inherently respects and protects user privacy. By championing secure data collaboration frameworks across financial institutions and other sectors, India can set a global example of how to balance innovation with data protection.
National Startup Day, therefore, is a reminder and a commitment to a future where technological advancements are synonymous with enhanced privacy and security, paving the way for a digital ecosystem that is not only cutting-edge but also inherently safe and user-centric.”
Creduce
Shailendra Singh Rao, Founder & MD, Creduce
National Startup Day is an unprecedented endeavour that will significantly contribute to the promotion of entrepreneurship-related consciousness and enthusiasm. Inspiring individuals and attracting a greater quantity of talent and ideas into the ecosystem, it will also draw attention to the realm of entrepreneurship. Entrepreneurs, investors, mentors, and other stakeholders will have additional opportunities to network and collaborate as a result. This can encourage the entrepreneurial spirit and resiliency of established startups while boosting morale. In summary, it is anticipated to have a beneficial effect on society. It is imperative to exercise caution in order to avoid reducing the effort to a spectacle and oversimplification through mere commendation and demonstration of achievement.
The Hosteller
Pranav Dangi, Founder & CEO, The Hosteller
The travel and hospitality industry is expected to experience a dramatic increase in Direct-to-Consumer (D2C) startups that use cutting-edge technology in 2024. These innovative startups are changing the way the industry looks by providing services that are immersive and offer unmatched value for money. As we commemorate National Startup Day, we must acknowledge the critical role that these innovative businesses have played in transforming the travel experience. These startups, with their AI-powered personalised itineraries and seamless booking platforms, are leading the way in revolutionising the traveller experience. Let’s celebrate the creativity that is causing this significant change in the tourism industry and look forward to an unprecedented year of expansion and connectivity in the true spirit of entrepreneurship.
Zoomcar
Greg Moran, CEO and Co-Founder Zoomcar
Zoomcar, a homegrown success story that is currently listed on NASDAQ, is celebrating its journey with pride on this National Startup Day. A pioneer in the car-sharing industry, Zoomcar has revolutionised mobility solutions in emerging markets. Not only has our creative approach been a game-changer for travel, but it has also greatly aided in the expansion of the sharing economy. Being listed on NASDAQ underscores our unwavering dedication to quality and openness and demonstrates investors’ faith in our mission. Zoomcar reaffirms its commitment to influencing urban mobility in the future, encouraging entrepreneurship, and bringing about positive change in the global transport system as we commemorate this occasion.
Aarika Innovations
Mr. Swayam Agrawal, Founder and CEO, Aarika Innovations
National Startup Day 2024 is a big shout-out to all the creative minds, risk-takers, and go-getters out there. It’s like a party for innovation and the never-give-up attitude of entrepreneurs. Picture the economy as a colorful tapestry, and startups are the lively threads weaving in cool ideas, passion, and the unstoppable drive for success.
Today is special because we’re giving a high-five to the dreamers who dared to dream, the folks who turned problems into chances, and those who shook up whole industries. In every startup, there’s a story. It’s a tale of sticking it out, being super creative, and believing that one awesome idea can change the world. So, as we mark this day, let’s give a nod to the huge potential bubbling in the minds of entrepreneurs.
Startups aren’t just businesses; they’re like superheroes bringing change and showing off courage that lights up the way to a better future. Today is also about thinking how small ideas can turn into big accomplishments when mixed with innovation and a never-give-up spirit. Every startup is proof that people can aim really high. So, on National Startup Day 2024, let’s cheer for these trailblazers, take care of the system that helps them, and get the next bunch of go-getters excited about the wild ride of entrepreneurship. Together, we’re throwing a party for the lively spirit of startups that pushes us forward, celebrates differences, and shoots our world into cool new possibilities.
Perfora
Jatan Bawa, Co-Founder, Perfora
Start ups are playing a very important role in driving growth for our country. Across different domains, there is a massive opportunity for start ups to address problems for people in India. Pre pandemic, there was a lot of focus on convenience enabled by technology however post pandemic, the focus has been primarily on improving health & wellness.Over the last 3 years, our government has been proactively encouraging startups and promoting entrepreneurship. Our experience has been good while building a start up as a lot of initiatives are in favor of young companies.
The Government of India has played a crucial role in accelerating growth in our industry. Policies promoting ease of doing business, financial incentives, and initiatives like “Startup India” have provided the necessary support.
Looking ahead, the future of our industry in India appears promising. With a continued focus on health and wellness, there are ample opportunities for startups to innovate and address evolving needs. The government’s sustained commitment to fostering entrepreneurship, coupled with emerging technologies, positions the Indian startup ecosystem for robust growth. As we move forward, collaboration between startups, industry players, and the government will be pivotal in realizing the full potential of this dynamic landscape.
Perfora
Tushar Khurana, Co-Founder, Perfora
A decade earlier it would have been impossible to start and build a start up in a seamless way as we are doing it now. The government has been super supportive concerning its policies related to startups and I’m quite optimistic about the future as there are so many problems to solve. This is the decade of start ups.For India, this is the decade of entrepreneurship and I would strongly suggest people think about how they can add value to our country.
In the course of our startup journey, the evolution of India’s startup ecosystem has been truly transformative. A mere decade ago, the seamless initiation and growth we now experience with Perfora would have been deemed implausible. The government’s support, underscored by startup-friendly policies, has been instrumental in this paradigm shift. This decade unequivocally marks a flourishing era for startups, fostering a culture of entrepreneurship that is reshaping the Indian business landscape.
As we navigate myriad challenges, startups find themselves uniquely positioned to offer innovative solutions. The prevailing trend of fostering entrepreneurship aligns seamlessly with the vast potential for creative problem-solving. Moving forward, a continued partnership between the government and startups will be pivotal, cultivating an ecosystem where ideas can germinate and contribute substantially to the nation’s trajectory. Embracing setbacks, cherishing minor victories, and valuing the entrepreneurial journey will be the linchpin for shaping success in this dynamic era of Indian entrepreneurship.
Porter
Mr. Pankaj Shroff, CFO, Porter
“The nuances of financial management is the last thing startups have in mind, especially in the initial stages, where achieving the PMF and chasing initial success is super critical. Being diligent is key to identifying risks at an early stage and addressing them. For us startups, we must have one eye on runway and another on the cash burn. Ensure that you always have at least 6 months’ runway as a buffer. In the initial stages, one should raise capital whenever it is available to maintain this buffer. The focus should be on being compliant, building scalable processes, proactive cybersecurity and having a transparent communication plan for emergencies. Being cognizant of your finances can prove to be the key to your long-term success.”
ValuAble
Mr. Rahul Gupta, Founder and Managing Partner, ValuAble
On this National Startup Day, we celebrate the spirit of innovation and sustainability that defines our journey. As a premier car and bike pool service, we have embraced the vision of creating a sustainable mobility network, transforming commutes into joyful journeys. Our commitment to eco-friendly, efficient, and secure transportation reflects in our initiatives, aligning with the national mission of achieving sustainable development goals by 2030. We stand as a beacon of green commuting choices, fostering a community-driven ethos and providing a user-friendly experience. This day not only marks our dedication to exploration, innovation, and excellence but also underscores our role in advancing sustainability initiatives and contributing to the well-being of communities. Here’s to our impactful journey and to the vibrant ecosystem of startups shaping a meaningful and sustainable future.
ZebPay
Mr. Rahul Pagidipati, CEO, ZebPay
“India has emerged as a global powerhouse in the startup ecosystem, showcasing phenomenal growth and fostering innovation across diverse sectors. The nation’s vibrant entrepreneurial spirit has led to a remarkable surge in the creation of startups, contributing significantly to broader economic growth.
Shashank Dubey, Chief Revenue Officer & Co-founder at Tredence
Ranked as the third-largest start-up ecosystem in the world, the Indian tech start-ups have witnessed tremendous growth and innovation in recent years. Approximately 70% of startups in India invest in AI to enhance their product capabilities and internal efficiencies. National Startup Day signifies the reality—the AI revolution is now, not in the distant future
Amidst this realm of innovation, AI stands as a transformative force within enterprises, propelling data democratization to new heights. AI plays a crucial role in democratizing insights within enterprises, particularly in its capacity to generate business value on a large scale. This contribution aids businesses in enhancing product innovation, achieving operational excellence, and ensuring customer success, ultimately leading to increased revenues and profitability.
Aspiring entrepreneurs should concentrate on solving the last mile problem across industries with AI, transitioning from conceptualization to execution, and deploying AI solutions at the forefront of problem-solving. This approach drives indispensable value to clients by recognizing challenges where AI can provide practical and sustainable value. The goal should be to cultivate a value-based vision seamlessly woven into the last mile of the user experience.
Aquaconnect
“ In light of India’s growing prominence as a startup hub, National Startup Day marks a crucial moment to recognize the impactful journey within the service robotics industry. Amid India’s dynamic landscape for innovation, the entrepreneurial spirit takes the spotlight, steering us towards a future in hospitality that’s centered around customers. Service robots, leading this charge, not only redefine how we experience services and improve operational efficiency but also represent a significant step forward in India’s startup narrative technologically. Fueled by technologies like Artificial Intelligence and augmented reality, these innovations capture the essence of cutting-edge entrepreneurship. In a surprisingly short span, strategic collaborations and ambitious plans for deployment highlight a crucial phase in India’s startup story, contributing to the nation’s reputation as a global hub for groundbreaking technologies.”
Alphadroid
Sanjeev Kumar, Founder at Alphadroid
“Building a startup mirrors embracing a mindset fuelled by hope and grit amid challenges. This attitude, reflecting life’s essence, empowers us to confront obstacles head-on. Our mission at Alphadroid extends beyond merely using technology it’s about doing more with robotics, maximizing their positive impact. We harness automation’s potential to boost efficiency, create opportunities, and contribute to the greater good.
In 2024, we embody the seamless integration of human ingenuity and robotics, envisioning a future with innovative solutions and a meaningful societal impact. Our flexible “Robot-as-a-Service” model, understanding diverse business needs, signals a strategic approach to technology adoption. We aim to revolutionize traditional industries, creating a harmonious blend of automation and human touch for a brighter future.”
Simplify3X
Nagaraj MC, chief quality officer, Simplify3X
“ As India becomes a hub for young startups propelled by the enthusiasm of its youth and a thriving economy, presents a distinctive chance to experiment and creatively address challenges. In this dynamic environment, our brand seamlessly adopts the ethos of innovation, actively contributing to the lively entrepreneurial community and establishing a global leadership position in pioneering solutions. The quest for problem-solving takes a unique trajectory, shaped by the collaborative efforts of a dynamic and ambitious generation. Renowned for its creative spirit, India stands as a global emblem of entrepreneurial brilliance, engaging with the world to reshape the future through inventive and impactful solutions. Looking forward, the trajectory of startups involves steadfast adherence to the mission of unraveling new challenges, particularly those related to accessibility, and nurturing them sustainably through technology—a journey defined by creativity, ingenuity, and a sincere commitment to positive change. Amidst numerous communication channels for startups to share their experiences and challenges, the backing from global investors emerges as a significant opportunity. Managing a start-up involves navigating tight budgets, limited resources, and fierce competition. Success relies on continuous innovation and adaptation to evolving technology trends. While recent graduates are attracted to the dynamic start-up culture, recruiting experienced managerial talent poses challenges. To thrive, start-ups should prioritize data-driven decision-making, enhance customer engagement, and cautiously approach AI investments. Investing in AI accelerators, rather than developing new solutions, can optimize resources and position start-ups for sustainable growth in a competitive landscape.”
Tushar Dhawan, Partner at Plus91labs
“As India emerges as a thriving startup hub driven by its youth and a robust economy, our brand naturally aligns with the innovative spirit, actively contributing to the global entrepreneurial community. With a team of skilled cloud computing experts, we recognize the transformative potential of technology in fostering innovation and contributing to India’s economic growth. However, we acknowledge the challenges faced by startups in adopting advanced cloud technologies, including limited resources and the need for skilled personnel. Despite these hurdles, we strive to be a guiding force, providing the technological foundation necessary for startups to thrive in a rapidly evolving business landscape. Our commitment is to assist startups in overcoming challenges, ensuring they have the support needed to achieve operational efficiency and sustainable growth. Through our unwavering dedication, we aim to empower Indian startups to navigate the complexities of the digital era, making a lasting impact on the nation’s entrepreneurial ecosystem.”
Mr. Sarvjeet Virk, Co-founder & MD, Finvasia
How the government’s support for startups has paved the way for startups to grow in the country
The Indian government has shown strong support and encouragement for startup builders. Recognising January 16 as National Startup Day is one of the ways to show it. This acknowledgment not only motivates and empowers startup enthusiasts but also sparks essential conversations and awareness, highlighting the viability of building a sustainable career through entrepreneurship.
The biggest change that has happened in the last decade is that the Government has made remarkable efforts to ensure ease of doing business in India. According to World Bank’s Ease-Of-Doing-Business ranking, India has gone from 142nd rank in 2014 to 79th in 2020. That’s a huge jump and the impact is evident in the number of startups that have emerged in India in the last few years. Additionally, key initiatives such as the Startup India Seed Fund Scheme (SISFS), Fund of Funds for Startups (FFS), Startup India Stand-Up India Scheme, and the Make in India campaign have collectively acted as a safety net. Government-supported skill development programs also bridge the gap between industry needs and available talent, equipping startups with qualified resources.
As a result of this robust support system, India proudly stands as the world’s third-largest startup ecosystem. The transformation is evident, with the number of startups growing from 450 in 2016 to a remarkable 1 lakh+ registered startups in 2023.
The uncertainties tied to starting a business is one of the biggest reason that holds people back from pursuing their entrepreneurial dreams. However, the government’s proactive policies and motivational efforts have effectively removed these barriers, leading to a notable rise in startups throughout India.
How startups in India are contributing to the country’s economy
The impact of startups on India’s economy is evident when you reflect on the changes over the past decade. Consider how many people you knew a decade ago involved in startups compared to today, and you’ll see the transformation.
India’s dynamic startup scene is significantly reshaping the nation’s economic landscape. These innovative companies are not only creating millions of jobs across various sectors but also leading crucial advancements by clubbing technology with finance, healthcare, education, agriculture, and more. The entrepreneurial drive of these startups is charting a path towards a more inclusive and prosperous future for the nation.
Currently contributing 3-4% to India’s GDP, startups are projected to reach a substantial 10% by 2030. Recently, Indian startups have captured the attention of foreign investors, underlining their global appeal. These startups will play a pivotal role in realizing India’s dream of achieving a $5 trillion economy and also contribute immensely to the $30 trillion economy target.
One simple tip for startups to keep in mind
Stay focussed on the problem statement, with new technology and innovation as the foundation for your growth.
Mehak Srivastava, Head of Marketing, SahiBandhu- Gold Loan Aggregator Platform
“National Startup Day celebrates India’s entrepreneurial vigor, honoring the innovative spirit that fuels startups, fostering employment, and propelling economic growth. SahiBandhu Gold Loan’s unique phygital concept, which combines physical outreach along-with digital end to end tech integration, drove the company to new heights. SahiBandhu’s vision extends to tier-1, tier-2, tier-3 and beyond cities in the upcoming year. Our commitment to leveraging technology, coupled with a doorstep gold loan service model, offers a unique and fully digitized experience. In collaboration with KBL, our latest venture unlocks new possibilities, delivering secure, user-friendly, and hassle-free digital-led doorstep gold loan solutions. We extend gratitude to the invaluable contributions of investors, mentors, and supporters, recognizing their vital role in the success of Indian startups. On National Startup Day, let’s celebrate the boundless potential of entrepreneurship and innovation shaping Bharat’s future.”
Poshak Agrawal, Co-Founder, Athena Education
In 2014, my co-founder Rahul Subramaniam and I set out to make a meaningful impact within the Indian education landscape. Mentors at heart, we interacted with the children of acquaintances and reflected on the gaps in their academic experiences. We discovered that they lacked structured avenues for academic and extracurricular exploration. Beyond that, we learned that there were far more Indian applicants to foreign universities than there was guidance available to them. Thus, we started Athena, a holistic education consultancy modeled after the interdisciplinary, liberal arts ethos of our alma mater, Princeton University.
Our approach was far from conventional for the Indian market at the time–we went straight to the heart of each student’s deep driving desire to understand what makes them truly unique. We believe that every child has the innate potential to attain excellence, yet they require strategic guidance to build an outstanding profile and mindset that will make them stand out in the highly competitive admissions process. We discarded the one-size-fits-all approach, embracing tailored strategies for individual students. We believe in not just shaping scholar profiles, but also nurturing holistic development. Our team of mentors’ hail from prestigious institutions like Princeton, Williams, Michigan, and the Bhabha Atomic Research Centre, and bring unparalleled expertise to the students’ personal transformation.
Athena’s innovation is enabled by our 360-degree experiential Academies. Our in-house robotics lab, design atelier, and state-of-the-art recording studio empower scholars to learn by doing. The future is AI, and we’re at the forefront, producing top-tier projects and research papers and exposing our students to the best. Athena’s mission is to build the scholars of today into the leaders of tomorrow. Guided by our core values of integrity, growth, synthesis, and impact, we are confident that Athena scholars will usher in a better future for us all.
Nishith Rastogi, Founder, and CEO, Locus
National Startup Day is a powerful testament to the boundless potential of entrepreneurship, which is instrumental in creating jobs, driving innovation, and fueling economic growth in India. As an entrepreneur, I am deeply thankful for the consistent support extended by the Government of India to our entrepreneurial landscape. The success story of the ONDC (Open Network for Digital Commerce) is particularly inspiring in the logistics field, demonstrating how innovative startups can transform entire industries. At Locus, we firmly believe that the government’s visionary initiatives, exemplified by programs like Digital India, act as ideal launch pads for Indian entrepreneurs. These initiatives encourage them to push boundaries, making a significant impact continually. We actively promote a culture that nurtures entrepreneurship and innovation for the greater good.
Erekrut HR Automation Solution Pvt Ltd
Dr. Ravinder Goyal, Co-founder, Erekrut HR Automation Solution Pvt Ltd
On this National Startup Day, amidst a funding winter, India’s HR tech landscape shines with resilience. Despite global headwinds, 2023 witnessed nearly 1,000 HR tech startups raising over $11 billion, underscoring the vast potential in transforming workplace operations. This success is attributed to a focus on fundamentals, with 60% of founders reporting increased revenues, validating the resilience fostered by timely innovations such as AI in recruiting and flexible work policies.
However, challenges persist, including regulatory hurdles and the need for guidance in navigating market access and scaling funds. Addressing these could solidify India’s position as a global HR tech powerhouse. The future blueprint involves the nimble evaluation of emerging work models and addressing ecosystem-specific pain points. As work paradigms and employee expectations evolve, HR tech must drive disruption while enhancing organizational health.
At such a crucial juncture, the key to innovation lies in understanding and responding quickly to the unique needs of India’s startups. By learning from the past year’s progress and strategically investing in problem-solving for tomorrow, we can reshape global workforces.
Shailendra Singh Rao, Founder & MD, Creduce
National Startup Day is an unprecedented endeavor that will significantly contribute to the promotion of entrepreneurship-related consciousness and enthusiasm. Inspiring individuals and attracting a greater quantity of talent and ideas into the ecosystem, it will also draw attention to the realm of entrepreneurship. Entrepreneurs, investors, mentors, and other stakeholders will have additional opportunities to network and collaborate as a result. This can encourage the entrepreneurial spirit and resiliency of established startups while boosting morale. In summary, it is anticipated to have a beneficial effect on society. It is imperative to exercise caution in order to avoid reducing the effort to a spectacle and oversimplification through mere commendation and demonstration of achievement.
Pranav Dangi, Founder & CEO, The Hosteller
The travel and hospitality industry is expected to experience a dramatic increase in Direct-to-Consumer (D2C) startups that use cutting-edge technology in 2024. These innovative startups are changing the way the industry looks by providing services that are immersive and offer unmatched value for money. As we commemorate National Startup Day, we must acknowledge the critical role that these innovative businesses have played in transforming the travel experience. These startups, with their AI-powered personalized itineraries and seamless booking platforms, are leading the way in revolutionising the traveler experience. Let’s celebrate the creativity that is causing this significant change in the tourism industry and look forward to an unprecedented year of expansion and connectivity in the true spirit of entrepreneurship.
Greg Moran, CEO and Co-Founder Zoomcar
Zoomcar, a homegrown success story that is currently listed on NASDAQ, is celebrating its journey with pride on this National Startup Day. A pioneer in the car-sharing industry, Zoomcar has revolutionized mobility solutions in emerging markets. Not only has our creative approach been a game-changer for travel, but it has also greatly aided in the expansion of the sharing economy. Being listed on NASDAQ underscores our unwavering dedication to quality and openness and demonstrates investors’ faith in our mission. Zoomcar reaffirms its commitment to influencing urban mobility in the future, encouraging entrepreneurship, and bringing about positive change in the global transport system as we commemorate this occasion.
Mr. Rohan Shravan, Founder and CEO of Tresa Motors
India has demonstrated tremendous entrepreneurial talent, with startups at the forefront of transformative change across industries. National Startup Day celebrates this spirit of innovation that enables ideas to become reality. We at Tresa Motors applaud India’s vibrant culture of innovation and entrepreneurship. As pioneers in the EV sector, we are proud to be part of the startup ecosystem that is propelling our nation towards a $5 trillion economy.
Our mission aligns with the promise of this day – to revolutionize and lead India’s medium and heavy commercial EV market while also setting global benchmarks for auto sector innovation. We firmly believe startups will steer India’s journey to becoming a cardinal leader on the world stage. We hope this day serves as an inspiration to turn promising visions into tangible ventures that elevate India. Together, we can unleash the power of startups and shape the future of our nation.
Mr. Rajagopal Menon, Vice President, WazirX
National Startup Day, celebrated on January 16th, is a tribute to India’s entrepreneurial spirit.
We in the crypto space believe that startups are playing a crucial role in shaping the future of Digital India. This day provides a reminder for all of us to acknowledge the importance of entrepreneurship. One entrepreneur provides jobs to at least 5 others besides generating jobs for an entire allied eco-sytem. PM Narendra Modi announced that January 16th will be celebrated as National Startup Day. He stated that startups will be the backbone of the new India and will have an important role to play as the country completes 100 years of independence. India become the third largest startup ecosystem in the world. The Indian government has actively fostered this environment, recognizing over 98,000 startups by April 2023, eligible for benefits under the Startup India scheme. Initiatives like the Fund of Funds for Startups, Startup India Seed Fund Scheme, and Credit Guarantee Scheme provide multifaceted support.
Prime Minister Narendra Modi envisions startups as the cornerstone of India’s progress, particularly as the nation approaches its centenary of independence. This aligns with India’s emergence as the third-largest startup ecosystem globally. To nurture this growth, the government has recognized over 98,000 startups by April 2023, extending benefits under the Startup India initiative. Supportive measures like the Fund of Funds for Startups, Startup India Seed Fund Scheme, and Credit Guarantee Scheme bolster these enterprises at various developmental stages.
We live in a time when industry is rapidly evolving and startups are at the forefront of driving this change. As entrepreneurs, we must firmly resolve to contribute to make India a 5 trillion dollar economy and work towards making that dream a reality.
HexaHealth
Mr. Ankur Gigras, CEO and Co-founder, HexaHealth
“On National Startup Day, we celebrate the spirit of innovation within our country. According to the Department for Promotion of Industry and Internal Trade (DPIIT), India is home to more than 1.14 lakh startups and it is expected to become one of the biggest hotspots for emerging entrepreneurs because of the country’s thriving consumption economy, massive youth population, and opportunities for experimentation and creative problem-solving. The ecosystem has seen a shift with faster e-commerce, digital payments, and data democratization which continues to shape the future of our businesses. This day underscores the collective efforts shaping a resilient and progressive economy. The declaration of 16 January as the National Startup Day has been a truly inspiring initiative for the Indian startup sector”, said Ankur Gigras, CEO and Co-founder, HexaHealth.
Whatfix
Vara Kumar Namburu, Co-founder and CTO, Whatfix
“The evolution of the internet and technological skills has resulted in a substantial shift in the Indian entrepreneurial ecosystem, spawning global enterprises. Today, market size is no longer a hurdle, as software products developed in India find markets across North America, Europe, the Middle East, and Asia-Pacific. In 2023, India witnessed a surge of over 100,000 startups, with Tier II cities emerging as new entrepreneurial hubs. Over the past two years, venture capital investors have successfully raised substantial funds. However, due to global macroeconomic factors, new investments have slowed, and investors are now pursuing a smaller pool of high-quality companies. These investors currently possess a record amount of dry powder and are actively seeking opportunities for deployment. We feel this bodes well for the Indian startup ecosystem.
Simultaneously, India’s talent pool is expanding steadily as these startups take on increasingly difficult software product development problems, solidifying India’s position in the global IT industry. The thriving startup environment in India is largely responsible for the spike in demand and inflation of technology salaries after 2020.
Reflecting on our startup journey since 2010, the early years were marked by experimentation. Our primary focus was consistently directed at answering a fundamental question: What problem are we aiming to solve? Each iteration of this question provided a clearer sense of direction. This strategic refinement played a vital role in crafting a more compelling narrative, developing precise buyer personas, and gaining a deeper understanding of the competitive landscape. The more specific and narrow our focus became, the more refined and effective our go-to-market strategy became.
Our commitment to customer-centricity and responsiveness is evident in proactive user feedback engagement, solidifying our position as a digital adoption market leader and driving an outstanding 65% YoY ARR growth. We have been able to achieve exponential growth consistently for a decade. With seven global offices across the US, India, UK, Germany, Singapore, and Australia, we are humbled that we are contributing to employment, innovation, and economic growth on a global scale.”
Mr. Aditya Gupta, Founder & CEO Credilio
“India’s ambitious dreams are getting a boost of human ingenuity, not just from dusty offices but from the vibrant energy of Startups. They’re injecting fresh ideas into diverse missions, turning goals into realities.
In this symbiotic alliance, they serve as the trailblazing architects of innovation, constructing solutions that redefine how public goals are achieved. Whether in healthcare, education, or sustainability, Startups always infuse agility and creativity, offering government the transformative tools needed for success. This partnership isn’t just about problem-solving; it’s a shared narrative of progress. Startups, as collaborators, bring fresh perspectives to the table, co-authoring a story where each innovation contributes to the greater storyline of societal advancement. Together, they navigate challenges, leveraging technology and entrepreneurial spirit to turn government missions into compelling sagas of positive change. It’s a narrative where the nimbleness of Startups meets the strategic vision of governments, resonating with the ethos of our ever-changing world
Startups the champions of innovation, actively shaping and amplifying our mission. They are not meagre collaborators but strategic partners, infusing our objectives with the entrepreneurial spirit necessary for transformative change. Startups bring agility and a fresh perspective to our pursuits, crafting bespoke solutions to intricate challenges.”
Mr. Nirav Choksi, CEO & Co-founder at CredAble
“In the last few years, there has been a momentous growth of the Indian startup ecosystem owing to business-friendly policy reforms, the rise of adaptable and lean business models, and a thriving startup support system, led by an entrepreneurial mindset of Indians.
While the digital India phenomenon has been pivotal in allowing new players to enter the market, startups have now emerged as the biggest advocates for this initiative. With “Make in India” designed to transform the country into a global manufacturing hub, it has gained momentum in recent months with the rise of startups specialising in industrial SaaS and deep tech, utilising automation and digitisation for enhanced manufacturing productivity, which have not only been trusted by large Indian companies, but now also being used by companies across the globe.
Moreover, India’s robust digital public infrastructure (DPI), has led Indian companies to leverage the DPI and build business friendly products which have eased the lives of Indian consumers.”
Mr. Ashish Singhal, Co-founder, and Group CEO, PeepalCo
“On National Startup Day, we at CoinSwitch celebrate India’s Web3 startup ecosystem, powered by disruptive blockchain technology. These startups are shaping the future, bolstering India’s position in the global Web3 community. CoinSwitch Ventures, specifically the ‘Web3 Discovery Fund,’ has already funded over 12 early-stage startups, actively contributing to the government’s vision of fostering innovation, driving economic growth, and creating substantial employment opportunities. India stands as a global startup powerhouse, boasting over 1.1 lakh startups and holding the third-largest number of registered startups worldwide. The ‘Startup India Scheme’ exemplifies India’s unwavering commitment to fostering a thriving startup culture and cultivating an inclusive ecosystem for innovation and entrepreneurship. At CoinSwitch we reaffirm our dedication to nurturing innovation and entrepreneurship.”
Mr. Veer Mishra, Founder of Plus
“From chai stalls to unicorns, India’s startup spirit is brewing a revolution. Celebrating National Startup Day is not just about applauding past giants, but igniting new sparks in every village, college, and garage. Let’s make every ‘jugaad’ a stepping stone, fuel dreams with accessible capital, and empower every innovator to chase the stars. We are a billion in motion, and our next billion-dollar idea is just an incubation away. Happy National Startup Day – may the code keep crunching, the hustling never stop, and India rise as the world’s innovation hub!”
Mr. Ankit Agrawal, CEO and Co-Founder InsuranceDekho
India’s startup ecosystem is booming, driving transformative change in the nation’s economy and society. With a government encouraging entrepreneurship, a robust digital infrastructure fueling innovation, and a dynamic workforce. Boasting over successful startups valued at $340 billion, India’s startup economy, which holds the third position globally is not just making waves but reshaping the country’s growth. The true game-changer, however, lies in the startups’ evolution as they actively build for Bharat, extending their reach beyond major urban centers to address the unique needs of previously underserved populations.”
“According to a report by Invest India, the entrepreneurial landscape in India is thriving, with approximately 1,12,718 DPIIT-recognized firms dispersed across 763 districts as of October 3, 2023. This significant presence underscores the widespread impact of startups on the nation’s economic fabric. India has ascended to become the third-largest startup ecosystem globally, a testament to the innovation and resilience ingrained in our entrepreneurial community.
National Startup Day serves as a momentous occasion to acknowledge the contributions of Indian startups to the nation’s innovation ecosystem. As we rejoice in the entrepreneurial spirit that propels these ventures, it becomes imperative to collaborate with stakeholders within the startup community. Together, we can forge a path that empowers startups to be integral contributors to the nation’s development and economic prosperity. Our collective vision must extend towards positioning India as a global hub for skills and innovation, catalyzing positive transformations within the startup landscape.
At Ennoventure, we align ourselves with this dynamic ecosystem, contributing to the global change narrative by combating counterfeiting through our covert brand protection technology. On this National Startup Day, we renew our commitment to fostering customer trust, protecting brand integrity, and making substantial strides in our mission to end counterfeiting.”
“National Startup Day celebrates the dynamic spirit of entrepreneurship and innovation propelling growth across diverse sectors. In the domain of healthcare, startups stand as catalysts for change, ushering in transformative solutions to confront pressing challenges. Today, we find ourselves on the brink of a healthcare revolution where technology converges with compassion, giving birth to innovative approaches to patient care. According to recent study reports, India’s home healthcare market is projected to exhibit a compound annual growth rate (CAGR) of 6.40% from 2022 to 2030 and is expected to reach $295 million by 2030. This rising demand for home healthcare is attributed to the simultaneous growth of India’s geriatric population and dependency ratio.
The search for dependable and skilled healthcare providers for home care has brought to light a significant deficiency in the provision of high-quality healthcare. This situation has highlighted the considerable challenges faced by families managing the health requirements of their elderly relatives, underscoring the critical need for a solution that integrates expertise, reliability, and innovation.
At MedRabbits, we’re reshaping healthcare by bringing innovation home. Our unwavering commitment to excellence is reflected in the careful selection, training, and background verification of our dedicated care providers. Leveraging advanced technologies, we ensure a seamless and professional home healthcare experience. Addressing the essence of what makes time and health invaluable, MedRabbits aims to be your steadfast healthcare ally, revolutionizing home healthcare with compassion, one innovative service at a time.”
Yuvraj Shidhaye, Founder and Director, TreadBinary
Mr. Saurabh Jain, Co-Founder, Stable Money
“In India’s dynamic startup landscape powered by technology, entrepreneurs’ collective efforts are set to propel the nation’s GDP by 4-5% in the next three to five years. With a substantial pool of 92,683 recognized startups, a robust mechanism is imperative for sustained growth, where collaboration and mentorship play pivotal roles in fostering the startup ecosystem. Concurrently, the strategic use of technology not only transforms businesses, optimizing processes and operations, but also sparks innovation, creating job opportunities and revolutionizing industries.
2024 promises clarity for Indian Fintech, reigniting investor confidence. The resilience of Fintechs shines through, with lending, wealthtech, and insurtech attracting investments. Crucially, by reaching consumers in Tier 2, Tier 3, and rural areas, Fintechs are not just overcoming challenges but strengthening the financial technology market, projected to hit $1.3 trillion by 2025. In this transformative journey, collaboration and adaptability are our greatest assets, propelling the Indian startup ecosystem into unprecedented growth.”
Mr. Akshay Hegde, Co-Founder, ShakeDeal
“Celebrating National Startup Day, we pay tribute to our nation’s entrepreneurial fervor. Each startup contributes creativity, resilience, and transformative ideas to India’s landscape. With this vigor, we foresee exponential growth, buoyed by government initiatives, fostering economic dynamism and an innovation-centric culture. Embracing our role in this ecosystem, we persist in nurturing and empowering startups, contributing to India’s ascent as a global epicenter of innovation and entrepreneurship.”
Sandeep Agarwal , Global CTO, and Managing Director, Visionet India
As we celebrate National Startup Day, Visionet recognises the pivotal role of startups in India’s innovation journey. With over 68,000 ventures emerging between 2014 and June 2023, the entrepreneurial spirit is driving transformative changes, backed by an impressive total funding of nearly 11.3 billion U.S. dollars.
At Visionet, our commitment goes beyond acknowledgement; it’s about active support. Through our VisionTechFest, particularly the TechStart stream, we’ve created a unique platform fostering innovation and collaboration. TechStart stands as a commitment to nurture India’s startup ecosystem by seamlessly connecting startups with industry professionals.
Winners of TechStart not only secure a title but also gain invaluable mentorship, guidance, and governance from Visionet. Access to our global customer base markets becomes a gateway to new opportunities, facilitating the scaling of their businesses. We believe in more than recognition; we believe in actively propelling startups toward success.
On this occasion, let us recognise the entrepreneurial spirit and the role each startup plays in shaping India’s innovative future. Visionet, through TechStart, remains committed to being a driving force, fostering collaboration, and creating pathways for startups to thrive and to be the architects of a transformative future.
Raj K. Gopalakrishnan, Co-founder and CEO, KOGO Tech Labs
“National Startup Day marks a crucial moment to appreciate the substantial contributions of Indian startups to the nation’s innovation scene. 68,000+ ventures have seriously upped the ante with an impressive $11.3 billion in funding from 2014 – Mid 2023. KOGO is right there in the thick of it with our ‘Where Next?’ philosophy that drives us to create the next big disruption with AI-powered travel tech.
We live in exciting times! In the grand tapestry of India’s startup ecosystem, AI is a game-changer. Kudos to the many Indian startups leading the charge in their respective domains and reshaping India’s startup landscape. As we celebrate the entrepreneurial spirit, it’s essential to underscore collaborative efforts within the ecosystem. Encouraging cooperation among stakeholders in the startup community is vital, allowing startups to make significant contributions to India’s economic growth, particularly in the dynamic field of AI-powered travel.
Today reinforces our collective mission at KOGO to not just play along but to be an active force in making India a global travel tech powerhouse. Every line of code we write, every strategy we deploy is aimed at that next leap forward. National Startup Day isn’t just a celebration—it’s a reminder of our shared commitment to excellence and the incredible journey ahead.”
