India has added 1,600 new tech start-ups and a report 12 unicorns in 2020, in line with the National Association of Software and Services Companies ((*12*)) annual start-up report. Despite being a pandemic 12 months, 2020 did one higher than 2019 when simply over 1,300 new start-ups and seven unicorns have been added.
The report, ‘Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy’, mentioned that 2020 noticed the very best ever new start-ups added in a single calendar 12 months.
“The Indian tech start-up base is witnessing a gentle progress at a scale of 8-10 per cent year-on-year progress. Covid-19 has accelerated digital adoption and the shift to on-line in the nation. This has created new alternatives for tech start-ups which can be capitalising on this chance,” (*12*) mentioned. While the investments in 2020 have been considerably decrease than in 2019, a restoration in deal tempo and investments is anticipated to return to 2019 ranges, the report mentioned.
Deep-tech can also be getting deep-rooted into start-ups’ DNA with 19 per cent of tech start-ups leveraging deep-tech options to construct product competencies for market enlargement. This has given momentum in the deep-tech house with elevated curiosity from enterprise capital corporations. Around 14 per cent of whole investments in 2020 was in deep-tech start-ups, up from 11 per cent in 2019 and 87 per cent of all deep-tech investments was in AI or ML start-ups, in 2020, the report mentioned.
Debjani Ghosh, President, (*12*), mentioned, “The continued innovation, proper decision-making and powerful investor dedication have positioned the Indian start-up ecosystem as a key contributor in accelerating India’s digital financial progress. .”