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Diversity and Inclusion – A Revolutionary Change in Start-up Ecosystem

Ashish Gupta

@asgupta

January 28, 2022

Product/Startups

377

Diversity and Inclusion – A Revolutionary Change in Start-up Ecosystem

2021 for Tech Start-ups: A Blog Series (1/8)

2021 has been the year of start-ups and that is why it is important to understand the key reasons behind it. We are starting a blog series on “2021 for Tech Start-ups” to understand this in detail and frankly we are not going to discuss here the landscape of the start-up ecosystem but much more than that so keep reading.

Diversity and Inclusivity are very important aspects for ecosystem growth and thankfully tech start-up ecosystem is now showing that maturity and acceptance. Now we have 29% of the total start-ups based out of emerging hubs like Ahmedabad, Kolkata, Jaipur, Kochi, Indore, Surat, Coimbatore, Chandigarh etc.. Not only tech start-ups, but ~7% of Deeptech start-ups also belong to emerging hubs. Entrepreneurs are increasingly leveraging emerging hubs to launch operations. But what are the key drivers behind the growth of emerging start-up hubs:

Building for Bharat: Emerging hub start-ups are surviving and thriving by solving for local businesses
Investments: Start-ups at emerging hubs have raised $0.85 Bn in last 3 years, signaling increasing investor interest
Talent Availability: Easier access to the skilled workforce as the pandemic led to huge talent redistribution across geographies
Ecosystem Support: State governments, local incubator & accelerators and academia has played a key role in start-up growth

2021start1

Women-led start-up success stories are becoming more common and more compelling. Now we have 10-15% % of all start-ups with at least one woman co-founder (or founder). There are 10 unicorns with at least one woman co-founder (or founder). 36% of all women co-founded start-ups in Edtech, Healthtech and Retail & Retail tech sectors

Similarly, there has been an uptick in entrepreneurs who are building solutions for all of India, a shift towards Bharat is clearly evident. 79% of the B2C start-ups serving to India 1 and India 2 markets while 20% share of the B2C start-ups serving India 3 market. 2021 saw an increased emphasis by start-ups to build solutions that cater to the core need of people. Sharing some examples below:

Inclusive Technology: Tech start-up Jiny built a mobile adoption assistant that makes apps friendly and easy to use.
Solution for Farmers: Tech start-up Krishify built personalized information feed based on crops, farmer community platforms, farm input advisory solutions, etc.
Vernacular Solution: Utter built AI-based personalized and vernacular learning platform for blue-collar workers
Accessible & affordable care: Medishala built Telemedicine and digital clinic facilities to connect doctors with rural patients

The depth of this diversity and inclusivity is impeccable, even SMB’s are getting assisted by start-ups to help in their growth. Solutions are built across different levels of digital maturity:

Ubiquity of connectivity & communication: Wifi Dhaba built low-cost ISP, sachet size broadband connection for SMBs at INR 2 per GB.
Speed of Transactions: DotPe enabled SMEs with online setup, payments and hyperlocal delivery
Rise in Discoverability: Kirana Bazaar built kirana aggregation platform for consumer product discovery
Enhanced Productivity: Open started an Online platform for banking and intercompany settlement for SMEs
Technology Sophistication: Bizbee created an Automate SMEs and business process through built in apps

Though many records have been established this year in terms of funding, unicorns, M&A etc. but the key highlight of this year is the rising diversity and inclusivity. Because this not only means that the ecosystem is growing but it also means that it is growing right from the core benefitting every unit of this ecosystem.

#startups #2021 #womenintech #diversity #inclusion #technology

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