The $101 billion valuation Indian startup ecosystem made way for 60,000 jobs in 2019

• Indian startups today account for 430,000 jobs, and added 60,000 of them in 2019.
• According to the latest Nasscom-Zinnov report, India now has the third highest number of unicorns in the world.
• However, India’s 24 unicorns are nowhere compared to China’s 206 and US’ 203 unicorns.

Indian startups have been growing rapidly in the last few years and it has become the third largest startup ecosystem in the world.

India is also home to the third highest number of unicorns, according to the Nasscom-Zinnov report Indian Tech Start-up Ecosystem – Leading Tech in the 20s. In the first eight months of 2019, India added 7 unicorns, taking their number to 24.

Though India is at the third position— it is nowhere close to that of China’s 206 unicorns and US’ 203.

But startups in India are also solving its gravest problem — of unemployment. Startups account for 430,000 jobs, and added 60,000 of them in 2019 alone.

There are also 50 more startups with the potential to turn unicorns. As many as 35 of them might reach the $1 billion valuation in the next two months as they are a part of soonicorn list. The cumulative valuation of all Indian startups stands at a massive $101 billion.

Not just that, India now has about 9,300 tech startups alone, while 1,600 are deep tech startups. It also has 335 incubators and accelerators.

"The start-up landscape in the country is becoming the epitome of innovation, with companies bringing out solutions that are aimed at solving locally relevant issues. However, to simulate innovation, government and corporates need to focus on increasing their role as prominent stakeholders playing the part of venture capitalists and providing the appropriate market access, funding, and guidance to seed stage start-ups,” said Debjani Ghosh, President, NASSCOM.

The report also adds that India will see 100 unicorns by 2025 and will create over 1.1 million direct jobs.