More than 77 per cent of Indian startups now invest in advanced technologies such as artificial intelligence (AI), machine learning (ML), internet of things (IoT) and blockchain, a report showed on Thursday.
The trend underscores the rapid technological adoption and innovation across the Indian startup ecosystem, now ranked third globally, following the US and China, according to the report by SAP India, in collaboration with Dun & Bradstreet.
Another significant finding is the emergence of tier 2 and 3 cities as innovation hubs, where 40 per cent of tech startups originate, leveraging local talent and cost advantages.
Cities like Chandigarh, Jaipur, Madurai, Indore, Kochi, Warangal, Hubli, Raipur, Visakhapatnam and Guwahati, among others, host 15 per cent of the country's tech skill pool.
This tech-driven evolution solidifies India's global stature as a leading startup powerhouse, supported by robust corporate governance and a conducive regulatory environment, the report noted.
“As companies shift their focus from GMV (gross merchandise value) to GM (gross margin) and seek to forge more sustainable business models with the help of transparent, trusted financial data, technology remains a cornerstone and a key differentiator for startups to achieve these business goals,” said Sanket Deodhar, VP and Head of Digital Natives, SAP Indian Subcontinent.
Around 79 per cent of start-ups believe that adopting enterprise applications integrated with new-age technologies such as AI is essential for scaling and improving unit economics.
Nearly 72 per cent of startups surveyed said that they already have or are looking to invest in new-age technologies.
About 85 per cent of startups believe unit economics is a clear path to profitability and enhancing valuation, the report mentioned.
“India's startup ecosystem is thriving, fueled by a favourable regulatory environment, a growing middle class, and a tech-savvy youth population. With almost 3 lakh startups and 113 unicorns across diverse sectors, India ranks third globally in its startup ecosystem,” said Avinash Gupta, Managing Director and CEO–India, Dun & Bradstreet.
Indian stock market opens in red as Israel-Iran tensions rise
The Indian benchmark indices opened sharply lower on Friday as tensions escalated between Israel and Iran. Heaving selling was seen in the auto, IT, Financial service and PSU Bank sectors in the early trade.
Axion 04 mission postponed again after propulsion bay leak; ISRO, SpaceX begin repairs
The highly anticipated Axion 04 mission, which was set to launch on Wednesday after a series of earlier delays, has been postponed once again due to a leak detected in the propulsion bay during a pre-launch test, the Indian Space Research Organisation (ISRO) announced on Wednesday.
Bad weather delays Shubhanshu Shukla's flight to ISS to Wednesday: ISRO
Indian astronaut Shubhanshu Shukla's historic flight to the International Space Station (ISS) has yet again been delayed due to poor weather, the Indian Space Research Organisation (ISRO) said on Monday.
Stock market ends in green, Bank Nifty hits new all-time high of 57,000
The Indian stock markets closed in the green on the first trading day of the week, as Bank Nifty hit a new all-time high of 57,000 on Monday, reflecting strong sentiment and momentum in the banking sector.
World’s largest container ship MSC IRINA arrives at Adani’s Vizhinjam International Seaport
In a historic feat, the world’s largest container ship MSC IRINA arrived at Adani Group's Vizhinjam International Seaport on Monday, which will be berthed till Tuesday.
Indian stock market opens in green, IT and PSU banks lead
The Indian benchmark indices opened higher on Monday amid positive global cues, as buying was seen in the IT, PSU banks and auto sectors in the early trade.
Maharashtra: 12 hardcore Maoists surrender, lay down weapons in presence of CM Fadnavis
A total of 12 hardcore Maoists, carrying bounties worth crores of rupees, on Friday laid down arms and surrendered in the presence of the Chief Minister Devendra Fadnavis during his visit to Kawande -- a highly remote and LWE-affected village on the Maharashtra-Chhattisgarh border.
India now has 1.76 lakh registered startups, 118 unicorns: FM Sitharaman
The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns (startups with $1 billion valuation and above), thus fueling youth entrepreneurship, Finance Minister Nirmala Sitharaman said on Friday.