National Association of Software and Service Companies (NASSCOM) which is an Indian non-governmental trade association and advocacy group has published a report with Zinnov that has highlighted that India in 2020 saw the addition of 1,600 new start-ups in the tech start-up ecosystem.
At the same time, a record 12 of the existing ones emerged as the new entrants into the coveted unicorn club, reports Business Standard.
The report titled “Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy” has noted that the nation’s technology start-up base is witnessing a steady growth at a rate of 8%-10% year-on-year.
Another important information published in this report is that as many as 2,100 start-ups leveraged deep-tech in 2020, which is up from 1,600 figure from 2019.
The NASSCOM report further states that India’s potential unicorn pipeline stays strong with 1.5x growth since 2019.
The report ends with a positive note that 2021 promises to be a very good year for Indian start-ups which not only managed to stay afloat amidst uncertainties after the pandemic outbreak but also strategically strengthened their playbook by converting the crisis into opportunity and India march towards becoming a trillion-dollar digital economy.