Unicorn Ecosystem in India: A Comprehensive Analysis
Keywords:
Start-Ups, Unicorn, Startup Ecosystem, Startup India schemeAbstract
The role of Startups is significant in the development of our country India. In recent years India has witnessed a significant increase in the new Unicorn companies. The unicorn ecosystem refers to the growing network of startup companies with at least $1 billion. Valuation. The "unicorn" term is a symbol to show the rarity and uniqueness of such high-value startups. In 2016 the Indian Government started the programme “Startup India: Stand up India” specifically to give a boost to new startups As of 03rd October 2023, after the United States of America and China, India is the 3rd largest ecosystem for startups globally with over 1,12,718 DPIIT-recognized startups across 763 districts of the country. The main factors contributing to this growth are the presence of a rapidly increasing middle class, digitalization with increasing use of the internet, and a supportive regulatory environment for startups. This change also positively impacts job creation, Innovations, technology adoption, and overall contribution to GDP and economic Growth.
This research article explores the dynamic landscape of unicorn industries in India, shedding light on the emergence, growth, and impact of high-value startups that have achieved the coveted unicorn status.
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