Entrepreneurship wave in India

“The best way to predict the future is to create it.” with this thought, I harshil saluja is here
today to present my thoughts on "Entrepreneurship wave In India".

An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards through which Entrepreneurship is the creation or extraction of
value.
Gone are those days when India had the world’s lowest entrepreneurial activity, with just 5%
of Indians owning a business. Today the scenario is entirely different. According to The State of
Indian Startup Ecosystem Report 2021, India has over 5,694 active investors and 38K startups.
Hence, the trend of entrepreneurship and startup boom is increasing. The startup ecosystem
in India is changing, and SME’s or Small and Medium Enterprises are privileged today
compared to what it was a decade back. The government has taken various initiatives to
establish a favorable Indian Start-up ecosystem, and they have launched a new portal, Start-up
India, to promote the growth of Indian Start-ups. With the latest technology, customer-
friendly approach, new taxation policy, and relaxation in GST, ease of business registration, the
startups in India have become a significant player in the Indian economy.
India’s startup economy has been booming. The last decade has seen significant activity on
multiple fronts including the founding of new startups, amount of funding and number of
investment rounds, influx of global investors and startups, development of regulatory
infrastructure, global mergers and acquisitions, and internationalization. Entrepreneurial
success stories abound. At last count, India had 26 unicorns, with eight new entrants joining
the club in 2018 alone.
India’s current entrepreneurial ecosystem is a result of three waves of entrepreneurial activity
with distinct focus areas – Information Technology (IT), consumerism and innovation
The year 2021 has seen India make a mark for itself in the global entrepreneurial ecosystem.
While the entire country saw a challenging time during the second wave of COVID-19 in May
2021, Indian entrepreneurs continued building for the country. Rapid digital transformation
and adoption of tech during the lockdown led to unprecedented growth. From being one of
the emerging markets to consolidating its position as one of the fastest growing markets for
emerging tech companies, this year has set the tone for what the next decade would look like
for India. 2021 gave us nearly a decade’s worth of unicorns in one year alone and 15 debutant
IPOs with the likes of Zomato and Nazara Technologies that more than doubled from their
issue price.
Another segment that has seen rapid adoption in 2021 is healthtech. While the pandemic shut
billions in their homes, it also created health-related anxieties. People have started viewing
healthcare as an integrated part of their lifestyle with an increasing focus on physical and
mental wellness, as opposed to only curing the symptoms and illnesses at hand. This coupled
with the lack of access to hospitals during the lockdown led to increased usage of
teleconsultations, online pharmacies, and labs. Healthtech startups received a total funding of
~$2bn in 2021, 6x that of 2020.