The Indian startup ecosystem originated with software services startups serving Indian software needs, and later expanding to exporting software services. The next generation of Indian product startups had founders who had worked in these services startups, or were moving back from the Silicon Valley, having worked in product startups in the US. Venture capital investments were kicked off by TDICI, a government entity, followed by other investors from Silicon Valley.

The third wave of startups were founded in the dot-com era, included marketplaces, e-commerce vendors, and portals. The fourth wave started around 2007–2008, and comprised e-commerce, logistics, marketplaces, and advertising startups. These startups are regularly covered by the online media platforms, which focus on start-up coverage like 'YourStory' and NextBigWhat'.[1]

In the 2010s, India saw a wave of SaaS companies being founded in India with products mainly sold to customers in the US and Europe. Notable examples include corover.ai, Zoho, SigTuple.ai, Exicom Telesystems, Qure.ai, Postman, Chargebee, BrowserStack, Capillary Technologies, TANLA, Indus OS, WiSig Networks, Haptik , ESDS Solutions, Pine Labs and Petpooja.[2]

List of notable events

DateKey eventSource
1968Tata Consultancy Services (TCS) started
1975CMC Limited started, CMC started to digitalize the stock market in 1980's
1981Infosys started
1982CyberMedia formed[3]
1985Karvy Fintech started, now known as K-Fin Tech for mutual fund & pension software services[4]
1986Tally Solutions started[5]
1988CAMS started as mutual fund transfer agency[6]
1988NASSCOM trade association founded[7]
1988First VC investment in India by TDICI[8]
1992i-Flex Solutions founded[9]
1995Protean eGov Technologies founded[10]
1995VSNL provides public Internet access[11]
1996Zoho Corporation founded
1999NSEIT founded
2006InMobi founded as mKhoj
2008Funding exceeds 1B in one year[12]
2010 Freshworks (formerly Freshdesk) founded [13]
2013Redbus.in acquisition
2013NASSCOM 10000 startups[14]
2015corover.ai Earliest AI based GPT
2018Flipkart acquired by Walmart[15]
2019 7 Startups became Unicorn [16][17]
2020 38 Startups became Unicorn [18]
2021 India Became 3rd Largest Startup Ecosystem in world [19]
2022 India had total of 90 Unicorn Startups [20]
2023 India has total of 108 Unicorn Startups [21]

See also

References

  1. ↑ "A beginner's guide to college internships in India". Quartz (publication). 2015-07-03. Retrieved 2020-06-28.
  2. ↑ "Swallow or Summer: Indian SaaS startups' $100m ARR dream". The Ken. 2019-07-24. Retrieved 2021-02-07.
  3. ↑ "Cyber Media (India) > Company History > Media & Entertainment > Company History of Cyber Media (India) - BSE: 532640, NSE: CYBERMEDIA". Moneycontrol.com. Retrieved 2015-11-12.
  4. ↑ https://www.sebi.gov.in/sebi_data/attachdocs/apr-2022/1649061896992.PDF
  5. ↑ "SS Goenka, founder of Tally Solutions, dies". CIOL. 23 October 2002. Retrieved 2015-11-12.
  6. ↑ "An old fintech learns new tricks: The CAMS story". 10 November 2022.
  7. ↑ Indo-American Chamber of Commerce (IACC) (12 October 2012). "THE SOFTWARE JOURNEY OF INDIA AND THE ROAD GOING FORWARD | Indo-American Chamber of Commerce (IACC)". Iaccindia.wordpress.com. Retrieved 2015-11-12.
  8. ↑ "The Venture Capital Funds in India". Indianmba.com. Retrieved 2015-11-12.
  9. ↑ "i-flex solutions' Rajesh Hukku: 'No One Dreamed That $400,000 Would Become Almost $600 Million in 13 Years' - Knowledge@Wharton". Knowledge.wharton.upenn.edu. 2007-03-23. Retrieved 2015-11-12.
  10. ↑ https://www.livemint.com/market/ipo/protean-egov-technologies-ipo-to-open-soon-heres-what-you-need-to-know-11697428827512.html
  11. ↑ "VSNL starts India's first Internet service today". dxm.org. Retrieved 12 November 2015.
  12. ↑ "Global venture capital insights and trends report 2011 - Venture capital perspectives - India - EY - Global". EY. Retrieved 2015-11-12.
  13. ↑ "Accel India: Decoding Founders' Mentality To Spin Success". Forbes India. Retrieved 2021-02-07.
  14. ↑ "10,000 Startups-NASSCOM Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2022-07-18.
  15. ↑ "Walmart acquires Flipkart for $16 billion in world's largest ecommerce deal". The Economic Times. 2018-05-09. Retrieved 2020-06-26.
  16. ↑ "2019 In Review: Key Milestones That Indian Startup Ecosystem Achieved This Year". Inc42 Media. 2019-12-31. Retrieved 2022-07-18.
  17. ↑ "The Annual Indian Tech Startup Funding Report 2019". Inc42 Media. Retrieved 2022-07-18.
  18. ↑ "What Economic Survey 2020-21 says about India's startup ecosystem". The Economic Times. Retrieved 2022-07-18.
  19. ↑ "Indian startups raised $42 billion in 2021: report". The Economic Times. Retrieved 2022-07-17.
  20. ↑ suraj (2023-02-08). "Startup Failure Rate And Statistics In India (Reasons) 2023". Retrieved 2023-02-21.
  21. ↑ https://www.facebook.com/InTheSpotlight94 (2022-09-29). "List of 108 Unicorn Startups in India | Top Unicorns in India". StartupTalky. Retrieved 2023-06-03. {{cite web}}: |last= has generic name (help); External link in |last= (help)CS1 maint: numeric names: authors list (link)
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