Startup India is the Government of India's flagship initiative to promote startup growth and innovation. This initiative will be used by the government to empower startup ventures in order to boost entrepreneurship, economic growth, and employment across India.
The Government's Action Plan will assist in accelerating the growth of Startups across India, in all critical sectors – in Tier 1, 2, and 3 cities, as well as semi-urban and rural areas – and will include promoting entrepreneurship among SC/ST and women communities.Over the last two years, professionals all over India have been forced to reconsider how they live and work in the aftermath of the Covid pandemic. Startups' growth and innovation This initiative will be used by the government to empower startup ventures in order to boost entrepreneurship, economic growth, and employment across India.
The Government's Action Plan will assist in accelerating the growth of Startups across India, in all critical sectors – in Tier 1, 2, and 3 cities, as well as semi-urban and rural areas – and will include promoting entrepreneurship among SC/ST and women communities. Over the last two years, professionals all over India have been forced to reconsider how they live and work in the aftermath of the Covid pandemic.
Top Startup Companies to Watch in 2022
Here are the top five companies that are expected to skyrocket in 2022
Byju’s
With a $21 billion valuation, the education technology industry has risen to the top of India's start-up list. Former teacher Byju Raveendran founded the Bangalore-based startup in 2008. It created Byju's learning app in 2015, which offers individualised learning programmes to students in grades 1 through 12. It also aids in the preparation of candidates for competitive examinations such as JEE, IAS, and others. According to the company, there are 50 million enrolled students and 3.5 million paying subscribers. During this pandemic, the rapid rise of online teaching-learning propelled Byju's to the forefront.
Paytm
Paytm, the pioneer in digital payments, was founded in 2021 by DTU alumnus Vijay Shekhar Sharma with a $2 million investment. It is valued at more than $16 billion. The parent company is One97 Communications Ltd. Paytm has grown in popularity in India, with over 300 million Indians using it to pay for a wide range of goods and services. The company has expanded into investing and online retail through Paytm Money and Paytm Mall, respectively.
Swiggy
In 2021, Indians ordered 115 plates of biryani every minute through the online food delivery service Swiggy, indicating that the country's appetite for food is only growing. According to the data, over 4.25 lakh new Swiggy users joined by purchasing chicken biryani, while samosa was the most popular snack of the year, with over 5 million orders on Swiggy, roughly equivalent to the population of New Zealand. In 2020, 90 biryanis were ordered per minute; by 2021, that figure had risen to 115, or 1.91 per second. Swiggy's search for healthy cuisine increased significantly in 2021, with orders for health-focused eateries on SwiggyHealthHub increasing by 200 percent.
Ola
Ola is a new Indian startup based in Kormangala. You might think they're just another Uber clone, but that couldn't be further from the truth. While cabs are one of the company's services, customers can also rent motorcycles, buses, and other vehicles. All of this is possible through the company's smartphone app, making it easier for customers to travel throughout India and other countries. Ola has been very active in courting investment and even making its own acquisitions. The company has raised a total of $3.8 billion in venture capital from 44 different investors over the course of several funding rounds. Six acquisitions have been made by the firm over the years, with various transportation and software start-ups becoming a part of the brand. Ola is one of the most appealing companies in India in 2021, owing to its high financing and current performance.
PharmEasy
PharmEasy is a healthcare technology company based in Mumbai, India that was founded in 2015. The company's services are focused on drug delivery, diagnostic sample collection, and remote healthcare consultations. It is a critical service in India right now, as the COVID-19 pandemic is still wreaking havoc. The firm has had tremendous success in attracting outside investment. So far, a total of $651.5 million has been raised from 25 investors. In addition, the company has been active in acquisitions, having completed a $235 million buyout of fellow Indian medical start-up Medlife in 2021.
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