NAME:- SANIYA KAZI

CLASS:- M.COM II SEM (IV)

ROLL NO:-29

SUBJECT:- RECENT ADVANCES IN BUSINESS ADMINISTRATION

ASSIGNMENT:- 02-PPT

TOPIC:- START – UPs IN INDIA & ROLE OF GOVERNMENT IN PROMOTING

START-UPS
INTRODUCTION

Last year has been a year of ups and downs, especially due to the COVID-19 pandemic, which hit across the globe. A lot
many strong entrepreneurs in India have dived into business opportunities and tested their ideas. While some of them have
failed, others thrived like anything. India supports the rise of startups because it has low-cost skilled labor, funding from
national and international investors, and growth opportunities. According to Financial Express, start-up funding has reached a
new high in 2023. In addition to the huge venture capitalists, institutional investors and pension funds are also investing in
many new online businesses.  In the period of Jan-March 2021, investors have infused around $4.4 billion into Indian startups,
and this amount is 26% more than the investments made last year in the same quarter.  The top gainers in the funding deals are
the Fintech and Financial Services companies (123), followed by Retail and Ecommerce companies (99) and EdTech
companies (84).  This shows that startups have found a way to stay aloft even after the turbulence due to the COVID-19
pandemic in India.
Looking at the most significant deals between companies in India, e.g., Walmart and Flipkart (having Myntra and PhonePe), it
is not at all surprising to see that India is growing up as a hub of the biggest startups. One 97 Communications (PayTM), Ola
cabs, Dream 11, Swiggy, and Razorpay are a few of the rich valued Indian startups across the world. The country is now
getting more startup unicorns, including companies from the sectors like Healthtech, social commerce, finance, and more.
Unicorn companies in the business are those startups that value at more than $ 1 billion. As of April 2021, there are more than
600 unicorns across the globe. According to Inc42, India got its 10 startups listed in the list of Unicorns in 2023. In this blog,
we have compiled a list of a few companies that are among India’s top startups. These startups have survived incredibly over
the years and are looking to expand their reach further.
TOP STARTUPS IN INDIA
•CRED
•Vernacular.ai
•PharmEasy
•Digit Insurance
•Meesho
•Groww
•Nykaa
•Udaan
•Dream11
•Swiggy
•Instamojo
•PostMan
•Delhivery
•Slice
Top 10 Startups in India Founder Headquarters

CRED Kunal Shah Bangalore

Sourabh Gupta, Akshay

Vernacular.ai Deshraj, Prateek Gupta and Bangalore
Manoj Sarda

PharmEasy Siddharth Shah Mumbai

Digit Insurance Kamesh Goyal Bangalore

Meesho Vidit Atreya, Sanjeev Barnwal Bangalore

Groww Lalit Keshre Bangalore

Nykaa Falguni Nayar Mumbai

Udaan Vaibhav Gupta Bangalore

Dream11 Harsh Jain Mumbai

Sriharsha Majety, Nandan

Swiggy Bangalore
Reddy, Rahul Jaimini
1. CRED
Founded in 2018, CRED is a platform where you can pay your credit card bills and get rewarded for it. The platform has created a new model where
users get “CRED coins” when they pay their bills through the CRED app. These coins can later be redeemed for buying any product, entering a contest,
or joining any workshop. The startup is Bangalore based and provides a range of services like credit and a premium catalogue of products to the
customers. The startup believes to incentivise people in order to improve their financial behaviour. 
According to TechCrunch, CRED is the youngest Indian startup to be valued at around $2.2 billion. This 2-year-old startup has more than 6 million
customers and about 22% of all credit card holders. As per the founder and CEO, Kunal Shah, the company is targeting affluent customers and has
become one of the most talked-about startups.  
Very few companies focus on the high-end base and continue strong growth over the years. CRED is also planning to introduce a feature where CRED
coins can be used by over a thousand merchants. The startup is also planning to own an eCommerce store. It is clearly visible that the startup is
planning a lot more than just providing reward coins to its customers. 
2. Vernacular.ai

This startup is an AI-First SaaS business aiming to become the leading voice automation and AI platform globally. The company provides
Speech recognition and Voice assistants as a service to the banking, Food and Beverage and Hospitality industries. Their services have the least
human interference and can handle complex servicing issues as well.  Founded in 2016, the company has raised $5.1 million in funding in the
year 2020.
As per Economic Times, Vernacular.ai is preparing to hire 100 people in 2021 which could strengthen its leadership team. While there were
retrenchments and pay cuts in the last year, Vernacular.ai has strengthened its workforce by 4 times. The company is heading to become the
world’s most appealing Voice AI platform with employees having multifunctional expertise. Recently, the company announced the appointment
of Gangadhar Kodandaram as Chief revenue officer (former Microsoft employee) and Ankit Jain as Vice President for product management
(An alumnus of Amazon). Their experience and intelligence will definitely take Vernacular.ai to new heights. 
As Voice and Automation are two trending technologies expected to grow massively in the future, Vernacular.ai is also likely to scale up its
operations. 
3. PharmEasy

PharmEasy is an online pharmacy and medical store in India which specialises in OTC products, diagnostic tests, and
medical instruments. The company was founded in 2015 in Mumbai, Maharashtra and has seen incredible growth since
then.  It is an online pharmacy with every product you could ever imagine in an offline medical store. 
During the COVID-19 pandemic, the company has become an essential service that has contributed to its growth. The
competitors of PharmEasy in India are 1mg and Netmeds. This health tech startup has raised a massive $350 million,
becoming the first Epharmacy unicorn in India. The funding has been raised after the merger of PharmEasy with its rival
Medlife. PharmEasy has acquired a 100 per cent stake in Medlife, and the latter got a 19.95% stake in the merged entity.
Both the companies have joined hands and merged in order to beat off the competition from rival players like Netmeds
(Reliance Jio), Flipkart and Amazon Pharmacy who have just entered the pharmacy segment in India. 
4. Digit Insurance

Digit Insurance is an insurance company founded in 2016 and claims to simplify insurance products for everyone so that the view of insurance
products can change among people. Digital Insurance raised its first funding in the year 2020, in which Indian celebrity couple Virat Kohli and
Anushka Sharma have also infused their $340K. 
The reason is more than 20 lakh Indian population have bought illness insurance against COVID-19 and other diseases like malaria,
chikungunya, dengue, and others. Digit is a Bangalore-based startup which reached its break even in 2020 because of its lower operating costs
and excellent business metrics. . The Chairman, Kamesh Goyal confirmed that the company has managed to expand its business by 30% in
2020 when the entire insurance industry was struggling.  Digit has bagged many awards like “ Hottest Startups in India 2019”, “Asia’s Best
general Insurance Company of the Year 2019”, “Fintech 250 List” and more. Kamesh Goyal further ensured that the funding raised will be
used to grow business and technologies. 
5. Meesho

Founded in 2015 by IIT-Delhi Graduates, Meesho is the reseller platform that is all set to become the big e-commerce distribution channel
where the homepreneurs sell products through WhatsApp, Facebook, and Instagram. The company is valued at $2.1 billion after raising funds
of $300 million.
Meesho is the ecosystem that enables small businesses to perform on the online platform. This platform has raised $490 million till date, and
its investors include Facebook.  Meesho connects sellers with the customers in an online marketplace and offers management of logistics,
orders, and payments to the sellers. It is connected with more than 13 million entrepreneurs in Indian cities dealing in grocery, home and
kitchen appliances, apparel and more. As Indian social commerce is expected to grow at a rate of 55%-60%, Meesho has a massive potential to
upscale retailing to new heights in the future. It is competing with the companies like GlowRoad, Dealshare and CityMall who are also getting
attention from the investors. Dealshare which was founded in 2018, has raised $21 million in December 2020. 
Meesho has claimed that it has made deliveries from more than 100000 registered suppliers, generating more than 500 Cr i.e., $68 million in
income for the homepreneurs. 
6. Nykaa

Nykaa is an online beauty store and a fashion e-commerce platform that was founded in 2012.  The company offers wellness
and beauty products to customers at reasonable prices. It is interesting to know that it raised $25 million in March 2020 and is
now valued at $1.2 billion. The company’s investors include Bollywood celebrities like Alia Bhatt and Katrina Kaif.
Falguni Nayar, the platform founder and a former investment banker, has visioned to create a platform with thousands of
product options. Now, the company has more than 55 retail stores and fulfils around 1.5 million orders every month. Nykaa has
more than 5 million monthly active users and deals with more than 500 brands through its website and the stores. The company
has also started its new venture Nykaa Fashion which offers apparel and accessories. It has introduced its own private label for
intimate wear named Nykd. According to RedSeer Consulting’s report, India’s online beauty market is expected to grow at a
CAGR of 9%. This is an opportunity for Nykaa to grow more in the Indian market and expand its business. The company is in
a run-up of IPO by 2022 and is expected to raise $3.5 billion in the public market. 
Startups in India FAQS
Which is India’s biggest startup?Byju’s is considered one of the biggest startups in the Edtech industry.
Which startups are profitable in India?Some of the profitable startups in India are
Zerodha.
Byju’s
Mu Sigma.
FirstCry.
Flipkart
Which is the fastest growing startups in India?Some of the fastest growing startups in India are:
CRED
Zomoto
Uddan
Meesho
Pharmeasy
Digital Insurance
Which startup company is best?CRED is considered one of the best and most unique startups of India.
Is zomato a startup?Yes, Zomata is a startup
Is Swiggy a startup?Yes, Swiggy is a startup

Which is the Unique startups?Some of the Unique startups are listed below: 
TradeX. 
AarogyaAI.
Unbox Robotics. 
OneDios.
What are the unsuccessful startups in India?Some of the Unscuessfull startups are:
Hike
Doodwala
Yummist
Pepper Tap

How many unicorn startups are in India?Collectively, the 104 Indian unicorns are there. ( Source Inc24)
List of Unicorn startups in IndiaSome of the Unicorn startups in India are:
Leadsquared
PhysicsWallah
Games24x7
CredAvenue
Livspace
DealShare
Darwinbox
IMPORTANCE OF START-Ups

Facilitate innovation .
It is not just new age businesses but even traditional industries could do wonders by adopting the innovative technology,
systems and processes that startups bring with them.

Move capital investments.

Investors too need startups to put their money to work. What’s more, they can even get fabulous ROI for investing in startups
with promising and sustainable ideas.  

Make life simpler

Everyone aspires to and needs a way to make life simpler and convenient. Things need to be done from the convenience of
home, travel needs to be planned on a handset, food delivered, all this is possible with the ideas startups have come up with.
 
Harness the intelligence capital that India possesses
India is considered to be the home to the best minds in IT, AI, VR, deep tech and more. A startup is the best way for the talent to
come up with path breaking technologies and innovations.
GOVERNMENT SCHEMES

Startup India is a flagship initiative of the Government of India with the agenda to actively support startups and entrepreneurs.
The primary objective of the program is to create a strong ecosystem that nurtures and protects innovation and startups in India,
ultimately generating large-scale employment opportunities and leading to the sustainable economic growth of the country.
Subsequently, the Indian government also launched the Aatmanirbhar Bharat mission and the ‘Make in India’ program, with
the aim of transforming India into a global manufacturing and design export hub.
Today, India boasts of being the third-largest startup ecosystem across the globe. The country has over 100 unicorns and more
than 60,000 startups operating within the territory. This success can be partly attributed to the active support provided by the
Indian government to startups and entrepreneurs through its various schemes and programs. All of the aforementioned programs
were accompanied by various government schemes and resources to provide financial assistance and working capital to startups.
For instance, startups are eligible for a variety of benefits under the Startup India Action Plan, including tax incentives and
exemptions, loans at reduced interest rates, skill development programs, prioritization of startups in public procurement, etc.
This article aims to cover few of the numerous schemes launched by the Indian government.
1. ASPIRE – A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship
This scheme was introduced to set up a network of technology centers and incubation centers across India with the objective to
accelerate entrepreneurship and encouraging innovations for unmet social needs in the agro-business industry. It provides
financial aid for setting up livelihood business incubators and/or technology business incubators, by way of one-time grant of
100% (hundred percent) cost of plant & machinery (apart from land and infrastructure) or a sum up to INR 100 (Indian rupee
hundred) lakhs, whichever is less.
In India, a large portion of the population is still dependent on agriculture for their livelihood and a substantial number of
Indians live in rural areas. As such, this scheme was launched with the purpose of generating employment and establishing
enterprises in the agriculture industry. It provides knowledge to entrepreneurs for establishing their own businesses, to emerge
as employers, and to ensure their self-sustainability. This program intends to foster district-level economic growth from the
ground up.
2. Pradhan Mantri Mudra Yojana
Under this scheme, Micro Units Development and Refinance Agency Ltd. (“MUDRA”) is an non-banking financial company
which supports development of micro enterprise sector in India. MUDRA provided refinance support to banks and/or
microfinance institution for lending to micro units who have loan requirement up to INR 10 (Indian rupee ten) lakhs. The loans
have been divided into categories of Tarun, Kishore, and Shishu, depending on the stage of development, funding needs and age
of the business and the amount of loan that can be availed by these businesses. There is no collateral security for these assets
and loans up to INR 10 (Indian rupee ten) lakhs can be provided to small businesses which are non-corporate and non-farm
micro or small enterprises. This loan is granted for a variety of activities which provide income generation and employment
creation. It is mostly offered to street vendors, store owners, traders, and other service providers. Additionally, working capital,
travel vehicle, and working capital loans are offered. Thus, it is a unique scheme that is devised to empower Indian
entrepreneurs.
3. Support for International Patent Protection in Electronics and Information Technology (SIP-EIT)
The SIP-EIT scheme was launched by the Department of Electronics and Information Technology (“DeiTY”) with the aim of
providing government funding to technology startups and Micro Small and Medium Enterprises (“MSME”) in India for filing
international patents. This encourages innovation, builds brand recognition, and recognizes the importance and potential of
having global intellectual property protection. The financial assistance is provided to the information communication
technologies and electronics sector. The eligible entities can apply for this scheme at any stage of the international patent filing
process. The reimbursement limit is set at either 50% (fifty percent) of the total expenses incurred during filing and processing
of the application, or INR 15 (Indian rupee fifteen) lakh for every invention, whichever is lesser.
4. Multiplier Grants Scheme (MGS)
This scheme was again launched by DeitY with the objective of encouraging industries to collaborate with premier academic
and government R&D institutions for the development of packages and products. This would strengthen the link between
industries and institutes, accelerate the development of indigenous products and packages, and bridge the gap between proof-of-
concept and globalization. Under this scheme, if an industry supports the R&D of products that are capable of
commercialization, the government would provide funding up to twice the amount provided by that industry. The grant amount
for an individual industry is restricted to 2 (two) crores per project and the preferred duration of each project is less than 2 (two)
years. For a consortium of industries, the granted limit is 4 (four) crores with the duration of 3 (three) years.
 Conclusion
This list can go on as numerous startups in India are doing very well in their industries. To name a few, Flipkart, Big basket, Ola
cabs, FirstCry, and CureFit are the names that need no introduction. The emergence of these startups is driven by the new force
in the global economy, millions of new customers, a new international presence of India and education. 
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THANK- YOU