The Great Indian Startup Boom of the last decade, led by young entrepreneurs and catalysed by the government’s Startup India movement, created an environment of entrepreneurship in India. The Startup movement is not limited to metro cities, but has successfully captured the imagination of suburban and rural entrepreneurs.
Today, there are more than one lakh startups recognised by the government, with about half of them coming from Tier 2 and Tier 3 cities. It has created a sense of agency among India’s youth, and a sense of freedom of being able to determine their own destiny.
The Startup movement is moving beyond the consumer Internet and e-commerce to genuine deep technology areas, such as space and remote sensing, artificial intelligence and robotics, biotech and pharma, electric vehicles, drones, defence, telecommunications, semiconductors, and many more. These real sectors go beyond digital marketplaces, seller discovery, and exchange of information, and impact many more sectors of the economy, which will bring deeper industrialisation in newer areas and more jobs.
