New Delhi, Aug 12 : While India is ranked third in the world of startup companies following China and the US and China the country currently has more than 49 percent of startups that originate from cities of tier 2 and 3 Union Minister Dr Jitendra Singh said on Friday.These startups that are based in cities of smaller size are operating in the aviation, agriculture, IT education and energy, health and space sectors The Minister made this statement in his the keynote speech at “DST StartUp Utsav” here.
According to the most recent data according to the latest data, there are 105 unicorns in the world, out of the 44 that were born in 2021 and 19 in 2022.
“The decade 2021-2020 is expected to bring about transformational changes for Indian science technology, innovation and technology (STI),” said the Minister.
Dr.Singh stated that India in its 75th year of Independence is today home to more than 75,000 new startups.
“Prime Narendra Modi’s particular focus on science, technology, and innovation has sparked the imagination of youngsters in the nation to think outside the box and address challenges with fresh ideas.” declared the Minister.
“India is ranked third among the most desirable investment locations for technology-related transactions in the world since it has a clear emphasis on technology and science,” he said, noting that the country is actively involved in new technologies like quantum technologies, Artificial Intelligence etc.
Although the amount of money invested in Indian startup companies in the April-June quarter was slowed significantly at around $7 billion, compared to around 10 billion in the same period in the prior year, the majority of entrepreneurs in India aren’t worried.
Despite the devastating effects of the pandemic in the last year more than 30 companies in India made it onto the famous Unicorn list.
na/
