National Startup Day 2024: Once a niche conversation, Indian startups have become a national conversation and the country now boasts of having the third largest global startup ecosystem in the world. This National Startup Day, celebrated on January 16, it is important to recognize India’s close-knit and resilient new-age entrepreneurial community that has propelled the country into a breeding ground for excellence.
National Startup Day 2024 commemorates the journey from budding entities to a thriving startup ecosystem.
Harkunwar Singh, co-founder and CEO of edtech startup Novatr said, “India’s edtech startups have grown from niche players to billion-dollar unicorns due to the internet boom and investor love. However, the recent funding winter forced a shift toward profitability and consolidation. “Despite the challenges, the growing need for personalized learning, addressing concerns about quality education and the demand for upskilling in advanced technology offer great potential.”
He said an impactful player will be one that has a clear value proposition, solving a specific problem or significantly improving an existing approach while creating sustainable unit economics and demonstrating a long-term vision for the future of education.
“India’s moment has arrived, driven by the strategic synergy of ecosystem enablers – cloud, digital infrastructure, smartphones and affordable data pricing,” said Raman Khanduja, Co-Founder and CEO, Mintok. With unmatched agility and nimbleness, Indian startups are seizing this opportunity to revolutionize payments and commerce solutions in India and beyond!”
Kashyap Reddy, Co-Founder and CEO, Hitwicket, said, “Celebrating the success of startups across various sectors, National Startup Day is a testament to the growth our businesses have seen in recent times. Like various sectors of the startup ecosystem, the gaming sector is also rapidly growing, emerging as a vibrant segment.
Reddy said the growth of the gaming sector goes beyond revenue and user engagement, with AI and mobile technologies enhancing gaming experiences. This sector is not only contributing significantly to the economy but is also promoting innovation and creating ample employment opportunities.
“National Startup Day reminds us of our journey from a budding idea to a thriving gaming startup. For us, this is an opportunity to reflect on our growth, learn from our peers, and recommit to delivering exceptional gaming experiences,” he said.
Stating that India proudly stands as the third largest global startup ecosystem, Malvika Jain, Founder and CEO, Sereco, said, “India’s startup ecosystem has consistently experienced annual growth of over 12-15 per cent. With over 75,000 startups driving economic growth, initiatives like ‘Startup India’ provide invaluable support through funding, incubation and policy reforms.
She said that there is a big change going on in the beauty startup sector. The market is poised to reach $30 billion by 2025, providing unlimited opportunities for innovative enterprises.
Jain said, “This National Start-up Day, let’s celebrate the unique stories that make up India’s entrepreneurial journey, weaving a tale of ambition, growth and the promise of a transformative future.”
Upasana Das, Founder, Jazbor Brand Consultancy, a new age integrated communications agency, said, “Startups in India have grown from marginalized players to mainstream forces, addressing real-life problems at scale. In less than a decade, they have grown into a powerful force influencing employment, products and social attitudes. His journey reflects the dynamic and diverse nature of the Indian market while fostering incredible founders and companies.
He said what was once a niche conversation has become a national conversation, with the success of startups being celebrated on National Startup Day.
“India’s close-knit and resilient community, coupled with a demanding market, has transformed the country into a breeding ground for excellence. I believe the beauty of India’s entrepreneurial landscape is that if you can build and survive in India, you will thrive in other parts of the world as well,” Dash said.
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