The Indian startup ecosystem was thriving until the pandemic hit the world. It had reached to become the world’s third-largest at the beginning of 2020. Unfortunately, the nationwide lockdown between March to June 2020 played a spoilsport, and we saw a dip in overall funding by 50% compared to pre-COVID levels. Around 40% startups were negatively impacted, and 15% of Indian startups were forced to discontinue operations due to COVID-19, says a report titled, ‘COVID-19 and the Antifragility of Indian Startup Ecosystem,’ published by TiE Delhi-NCR in partnership with Zinnov.
However, the report states that the recovery pace – both in demand and in investor sentiment – has been faster than expected when the economy opened. For instance, 75% of startups are gradually, but steadily, recovering post lockdown. Around 30% of startups have pivoted to newer markets for alternative revenue streams, while more than 55% of startups focus on profitability and reducing cash burn. Interestingly, four Indian startups have become unicorns amidst COVID-19. This shows young Indian entrepreneurs’ ability to survive and thrive by keeping pace with the dynamics of the changing world.
In this issue, we celebrate the success of such entrepreneurs and their startups, shining even in the cloudiest of weather. We have listed ’10 Most Innovative Startup to Watch-out in 2021′ and narrated some of their success stories to inspire the business aspirants. On the cover, we feature Dr Vivek, Bindra, a revolutionary entrepreneur, an internationally acclaimed motivational speaker and a business coach, who founder Bada Business that touched the Rs 100 crore revenue mark in January 2021.
Enjoy reading.