India 3rd largest start-up ecosystem

India is as of now the third-biggest start-up ecosystem on the globe and is home to 21 unicorns valued at $73.2 billion, India’s top envoy in the US has said, as he communicated trust that in excess of 50 start-ups may join the unicorn club as ahead of schedule as 2022. Pioneering action has picked up in India. In 2020 India was among the best 50 innovative economies,” India’s Ambassador to the US Taranjit Singh Sandhu said.

“Today India is the third-biggest, start-up ecosystem on the planet and is home to 21 unicorns valued at $73.2 billion. By certain evaluations, more than 50 soonicorn’ start-ups may join the unicorn club as right on time as 2022, he said. A unicorn is a term to demonstrate a secretly held new business valued at more than $1 billion. Soonicorns are start-ups that are acceptable contender for late-stage investment and have a decent chance of becoming ‘unicorns’.

Sandhu was talking at a coaching program for Indian National Startup Awards 2020 finalists that was co-hosted by the Embassy of India, in association with Department of Promotion of Industry and Internal Trade (DPIIT) and US-India Strategic Partnership Forum (USISPF) on Monday.