The News Scroll 14 October 2020  Last Updated at 6:54 pm | Source: PTI

India to have 60,000 start-ups, 100 unicorns by 2025: TiE

India to have 60,000 start-ups, 100 unicorns by 2025: TiE
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Oct 14 (PTI) India is expected to have 60,000 start-ups and 100 companies with valuation of over USD 1 billion by 2025, a TiE Global report, in association with Zinnov, released on Wednesday said.

The report observed that business recovery of start-ups is back on track after the lockdown. However, 12-15 per cent of start-ups are facing risk of survival and a similar percentage of start-ups have closed their business.

"Despite being in the biggest pandemic we have had, India is going to create same numbers of unicorn in 2020 as we did in 2018 and 2019, which is a testament of our strong ecosystem," TiE Delhi-NCR president Rajan Anandan said while sharing the findings of the report.

"We do believe that India is on track to have 60,000 start-up by 2025. We are well on track to have 100 unicorns in India by 2025," he added.

He said investments are also on track for recovery.

TiE Global is a non-profit organization devoted to entrepreneurs in all industries.

There are around 38,000 active start-ups, out of which 26 are unicorns. The start-up ecosystem in India had attracted USD 14.5 billion of funding in 2019, the report titled ''Covid-19 and the antifragility of Indian startup ecosystem'' said.

The report said start-ups are expected to create 1.5 to 1.6 million jobs by 2025.

The study included most of the business data till the end of February and compared it with data till the end of September, Anandan said.

According to the report, direct job creation in the start-up ecosystem will remain flat in 2020 as about 25,000 jobs in several sectors like hospitality, mobility, among others, have been lost, while a similar number of jobs have been created in some sectors like edutech, communications, online fitness, among others, .

Online life insurance, over-the-top platforms, electronic e-commerce, online gaming, digital payments, online stock brokerages, online grocery have not only recovered by the end of September to pre-COVID period but also seen growth in the range of 10-50 per cent.

Education technology platforms and online health insurance have recovered up to 200 per cent, while online fitness and online telecommunication start-ups have seen up to 500 per cent recovery, the report said.

Automotive, travel and hospitality, mobility and logistics are among the worst hit segments and there has been a significant drop in their funding.

"There are 15 per cent of Indian start-ups that are at survival risk. We would love to see some program to help the start-ups that are in these sectors," Anandan said. PTI PRS RVK


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
Next Story : Trio arrested for obtaining Rs 2 crore loan with forged papers
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store