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When Tech Start-up starts to Scale-up fast – Key Theme that defined Indian technology Industry in FY2022
When Tech Start-up starts to Scale-up fast – Key Theme that defined Indian technology Industry in FY2022

February 24, 2022

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The technology services industry is changing faster than ever as enterprises scramble to keep up the innovation, competitors and changing needs of customers.

Today Open economic environment is in the favor of entrepreneurialism . Globally India has the 3rd largest startup ecosystem. India’s technology start-up ecosystem has expanded to a large pool of 25-26,000 startups that have been set up in the last ten years. Start-ups are key role for the country as they fuel innovation, has multiplier impact on the economy and value creation.

There has been 10-12% growth in both direct and indirect jobs.In 2021, startups employed over 6.6 lakh people directly and over 34 lakh indirectly.  We have seen a continuous growth in deeptech start-ups. Funding doubled in 2021.Deeptech start-up ecosystem rises to 3,000+ companies, 270 deeptech startups raised funding in 2021.

The diversity of the start-up ecosystem is also maturing

  • 40% startups from non-leader hubs
  • 12-15% startups with women co-founders
  • 20% startups focused on low income markets

The start up companies have begin to spread the benefits in our regional economies and are also creating new market and business model.

India is fast becoming a breeding ground for innovation.  The projection of 2025 (36000-37000 Tech start-ups, 180-200 unicorns, $600-700 Bn industry valuations) says it all.

To know more about other key themes & trends that defined Technology Industry in India in FY2022 in our latest report NASSCOM's Strategic Review - Resilience to Resurgence, Technology Sector India in 2022.

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