Tier 2, 3 cities now contribute 49% of Indian startups: Jitendra Singh

The startups from smaller cities are working in fields like IT, agriculture, aviation, education, energy, health and space sectors

PGurus Newsdesk

August 12, 2022

The startups from smaller cities are working in fields like IT, agriculture, aviation, education, energy, health and space sectors

Despite pandemic, more than 30 startups in India made it to the prestigious Unicorn list

While delivering a keynote address at “DST StartUp Utsav” Union Minister Dr. Jitendra Singh informed that while India ranks third globally in the startup ecosystem, after the US and China, the country now has close to 49 percent of startups coming from the tier 2 and 3 cities.

The startups from smaller cities are working in the fields like IT, agriculture, aviation, education, energy, health, and space sectors. As per the latest data, there are currently 105 unicorns, out of which 44 were born in 2021 and 19 in 2022.

Even as funding to the Indian startups in the April-June quarter slowed down significantly at about $7 billion compared to about $10 billion in the corresponding period in the previous year, most entrepreneurs in the country remain unfazed.

Despite the brutal impact of the pandemic last year, more than 30 startups in India made it to the prestigious Unicorn list.

Dr. Singh said, “India in its 75th year of Independence is now home to as many as 75,000 startups. The decade 2021-30 is expected to bring transformational changes for Indian science, technology, and innovation (STI).”

“Prime Minister Narendra Modi’s special focus on science, technology, and innovation has fired the imagination of the youth in the country to innovate and solve problems with new ideas,” said the Minister.

“India ranks third among the most attractive investment destinations for technology transactions in the world as it has a strong focus on science and technology,” he said, adding that the country is actively engaged in emerging technologies such as quantum technologies and Artificial Intelligence, etc.

[With Inputs from IANS]

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