Delhi to dethrone Bengaluru as the startup capital of India
- ByStartupStory | February 21, 2022
According to the Economic Survey 2021-22 given in Parliament on Monday by Finance Minister Nirmala Sitharaman, Delhi has surpassed Bengaluru as India’s startup capital. According to the poll, nearly 5,000 recognized start-ups were established in Delhi between April 2019 and December 2021, while 4,514 start-ups were added in Bengaluru.
Maharashtra is the state with the most recognized startups, with 11,308 in total. In 2021, a record number of start-ups (44) in India achieved unicorn status. After the United States and China, who added 487 and 301 unicorns respectively in 2021, it surpassed the United Kingdom to become the third most populous country in terms of unicorns. India has 83 unicorns with a combined valuation of $ 277.77 billion as of January 14, 2022.
Furthermore, from 733 in 2016-17 to over 14,000 in 2021-22, the number of new recognized start-ups has surged. As a result, India has surpassed the United States and China to become the world’s third largest startup ecosystem.
According to the Economic Survey, the majority of India’s startups are in the IT/knowledge-based industry.
As per the Economic Survey, the number of space start-ups has grown in the previous three years, from 11 in 2019 to 47 in 2021. Providing a reliable, forward-looking, well-defined, and conducive regulatory system for space operations in the country was one of the key reasons in this. The SpaceCom and SpaceRS rules were the first to be modified, further liberalizing the conventional satellite communication and remote sensing sectors and allowing entrepreneurs to engage in end-to-end operations in these areas.
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