- The pandemic has accelerated the adoption of digital technologies in the entrepreneurial ecosystem, across industries, by 5-10 years
- In a big thumbs up to the resilience of Indian startups, 2021 is garnering record startup funding resulting in 21 startups entering the unicorn club in the first seven months of 2021
- Another strong indicator of the health of the startup ecosystem is the record no. of M&A deals (~120) that have already materialized in 2021
India, Aug 20th, 2021: On the occasion of World Entrepreneurs’ Day, the global not-for-profit WadhwaniFoundation salutes the indomitable spirit of entrepreneurs who have risen to the challenges posed by the Covid-19 pandemic resulting in a strong bounce-back that catapulted a record no. of startups to the unicorn club and also resulted in a record no. of M&A deals.
Celebrating the World Entrepreneurs’ Day, Dr Ajay Kela, President and CEO, Wadhwani Foundation,said, “With 21 Indian startups achieving the unicorn status in 2021, it is heartening to see that the Indian entrepreneurs converted the pandemic challenge into a lifetime opportunity. They did this by aligning their solutions with the behavioural changes of their customers, be it doctors and patients, teachers and students, retailers and consumers, organizations and employees, etc. As a result, India saw its first-ever unicorns in healthtech, e-pharmacy, and social commerce space. Wadhwani Foundation salutes startup and SME entrepreneurs that are accelerating the economic development of our country and creating much-needed good jobs. The Foundation endeavours to help these entrepreneurs realize their full business potential through year-long hands-on training and lifelong support via an AI-empowered 360-degree platform that proactively serves customized knowledge and network resources.”
In a nutshell, startup and SME entrepreneursfound new-born opportunities in challenges to ensure the growth of the Indian entrepreneurial ecosystem in 2021 and are nowbeginning to reap the benefits of perseverance, seeing the transition from stabilization to growth.
With digital-focused business models, data-driven business decisions, investment in new technology and increased focus on innovation, the future points towards unparalleled growth for the Indian entrepreneurial ecosystem at large!