Startups in India: Startups and unicorns in India will witness substantial development in the approaching 4-5 years, and startups will increase by 10 times, Union Minister of State for Electronics and IT Rajeev Chandrasekhar stated.
In his deal with on the JIIF (JITO Incubation Innovation Foundation) sixth Foundation Day and Investors/Startup Conclave in Hyderabad, he highlighted India’s exceptional progress in constructing unicorns and startups, and the way they’ve efficiently entered areas in rising know-how reminiscent of AI, Web 3, and deep tech.
He additionally engaged with business leaders and aspiring younger entrepreneurs.
Chandrasekhar emphasised the transformative journey India has embarked upon since 2014. From being predominantly targeted on IT and ITes, the next 4-5 years will witness substantial development for startups and unicorns, he famous.
“In 2014, our nation’s tech landscape was limited to IT and ITes. However, since then, opportunities have emerged across various domains such as deep tech, AI, data economy, semiconductor design, microelectronics, and high-performance computing,” he stated.
“Due to the vision of PM Narendra Modi, what was once just one-third of the overall tech space has now expanded, presenting immense potential for unicorns and startups. From 108 unicorns I am sure we will reach 10,000 in the next 4-5 years. Today we have over a lakh startups in India and it will increase by 10 times,” the minister added.
He additionally lauded the collaborative efforts between the business and the federal government to reinforce ability growth.
Recognising the historic challenges confronted by a good portion of the inhabitants missing abilities, the minister emphasised the transformative impression of the Skill India initiative. He stated that by means of strategic partnerships with each massive and small corporations, the federal government now works intently to establish mandatory abilities, making a complete framework with the energetic involvement of academia, communities, and firms.
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