ADIF Vision Is To Bring The Indian Startup Ecosystem Among The Top 3 Globally By The Year 2030
- ByStartupStory | July 21, 2021
Digital startup think tank ADIF came up with its plans to make the Indian startup ecosystem among the top three globally by 2030, with focus on boosting knowledge base, driving collaboration and finding the right policy framework to drive growth, a senior official of the organization said on Wednesday. Alliance of Digital India Foundation (ADIF) executive director Sijo Kuruvila George said that they’ll find a solution for the issues that startups face with Google Play store and Apple’s App store. He further said, “We are now the third-largest startup market globally and are home to over 50 unicorn startups, only behind the US (122) and China (92). While we are third largest in terms of size, the Indian startup ecosystem hovers around the twenties in terms of rankings.
“If we are the third-largest in size, we should aim to be at least third in terms of ranking as well. Our mission is to transform the Indian startup ecosystem to be among the top three globally by the year 2030,” George said. He said that the ADIF will look at building a trust alliance of founders in the coming days where a lot of knowledge sharing can take place. At ADIF, we will compile this knowledge and take it to our young entrepreneurs and help fuel the next wave of entrepreneurs. “Furthermore, our ecosystem is still very nascent, so it’s understandable that the policies haven’t fully caught up. ADIF will thus also focus on advocating for favourable policies, figuring out solutions that are in the best interest of everyone and driving them,” George said.
Google has proposed to charge up to 30 percent on revenues earned by apps through its Play store in line with Apple’s policies. George said that most of the apps and startups in India don’t have high margins, therefore, there is a need for ADIF to discuss the matter with startups. He said that the state of Arizona has come up with guidelines on app store fees which is an early sign to start with. “Given the importance some of these issues have, I think it is a very interesting conversation to have. We completely acknowledge that it (30 per cent cut on apps earning) is a problem. All of us need to figure out the right way to go forward. Either by regulation or by way of collaboration,” George said.
He further added that there are issues around angel investors, cross border payments etc., where ADIF will work to bring in improvements. ADIF plans to adopt a three-pronged approach to transform the Indian startup ecosystem: Building an Alliance of Founders and Startups, Club ADIF and Policy Lab. These three pillars will form the backbone of ADIF’s mission to forge a joint roadmap for a strong vibrant Digital India. As part of the alliance, ADIF will bring together all individuals and organizations that are vested in the success and growth of India’s startup ecosystem.
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