Startup culture is growing huge day by day in the country. Hundreds of new startup companies are emerging every year.
Recently New Delhi has become the start-up capital of India suppressing Bangalore. According to last year’s reports, the IT city Bangalore topped the list as the startup hub of India.
The Center’s Economic Survey 2021-22, which has more than 5,000 recognized start-ups in Delhi, compared to 4,514 startups set up in Bangalore between April 2019 and December 2021. Maharashtra has the highest number (11,308) of start-up companies so far.
As of January 10, 2022, the report identified more than 61,400 start-up companies in India. In 2021, 44 start-up companies had unicorn status. As a result, India has the second-largest number of unicorn companies after the US & China. In 2021, 487 start-up companies in the US had unicorn status, while 301 start-up companies in China had unicorn status.
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As of January 14, 2022, the total wealth of 83 unicorn companies in India was $ 277.77 billion. Most of these start-up companies are in the service sector.
Also, most of the start-up companies in the country are in the IT/education-based sector. The number of newly recognized start-up companies increased from 733 start-up companies in 2016-17 to 14,000 by 2021-22.
Over the past three years, the number of start-up companies in the aerospace sector has increased from 11 in 2019 to 42 by 2021. As ISRO does not register any start-up companies, only about 75 start-up companies are showing up under the Space Technology category in the Startup India portal.
In 2021, 555 districts had at least one new start-up company but in 2016-17 only one start-up company was established in 121 districts.
Regardless of the pandemic threat many small businesses and startups emerged and are thriving in the market making a name for themselves.
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