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From Paytm to OYO, these Indian unicorns and soonicorns made the most news in 2019

New Delhi: The <keyword id="21833060" type="General" weightage="20" keywordseo="Fintech-ecosystem" source="keywords">Fintech ecosystem</keyword> of the country now cumulatively valued at over USD 100 billion, is at a pivotal stage of evolution, with the potential to create two to three times its current value over the next decade, as per a report by <keyword id="20058186" type="General" weightage="20" keywordseo="BCG" source="keywords" meta.keywordsubtype="org" meta.entityname="BCG" meta.hostid="269" meta.entityid="BCG">BCG</keyword> and Z47. The report highlighted that India remains one of the top three global Fintech destinations, with the ecosystem witnessing exponential growth across all levels. It added that over the past four years, the number of <keyword id="22974213" type="General" weightage="20" keywordseo="Minicorns" source="keywords">Minicorns</keyword> (valuation at least USD 1 million but less than USD 1 billion) in the country has increased by 3.5 times, while the number of <keyword id="19944451" type="General" weightage="100" keywordseo="Unicorns" source="keywords">Unicorns</keyword> and Soonicorns (startup that is growing quickly and has the potential to become a "unicorn" valued at USD 1 billion) has tripled. The report noted that in 2023, the country's Fintech market achieved a revenue size of USD 25 billion, marking a 56 per cent year-on-year growth which is a remarkable contrast to the global Fintech growth rate of just 13 per cent during the same period. However, the report also added that despite generating over USD 100 billion in value within the last decade, Indian Fintechs are still considered to be in the "middle" phase of their development, especially when compared to traditional incumbents who have created USD 600 billion+ in value over 30 to 50 years. The report mentioned that now the growth and the further expansion of the fintech ecosystem in the country is expected to come from the Tier 2 cities where majority of the Indian population resides. "With 63 per cent of the Indian population outside the top cities, huge opportunity exists to serve Bharat with next wave of penetration expected to come from Tier 2 cities" the report added. As Fintechs mature, profitability has become a central focus across the sector, with over 40 per cent of founders and CXOs (Chief Experience Officers) prioritizing unit economics alongside market expansion. Those preparing for or currently undergoing the IPO process are increasingly emphasizing governance, investment in infrastructure, and security. The report noted that in a recent survey of over 60 executives from top Fintechs, the majority cited market share expansion and growth as key priorities, especially for early and growth-stage companies. Post-IPO stage Fintechs, however, are placing greater emphasis on profitability and investments in technology, infrastructure, and security. "Mature Fintechs preparing for or in the IPO journey are emphasizing governance, investment in infrastructure, security Across survey of 60+ Executives of top Fintechs, market share expansion &amp; growth emerged as priorities for early and growth stage" added the report. Notably, the report stated that the profitability outlooks are improving year-on-year across all segments, with Neobank and InsurTech showing the most significant positive shifts since 2022. However, the industry is not without its challenges, particularly in the realm of cybersecurity. Over the past two decades, more than USD 20 billion has been lost to cyber and digital attacks.

Minicorns, Unicorns tripled in USD 100 billion Indian fintech ecosystem: BCG, Z47

<ul><li>Funds raised by startups fell sharply in H12023, across late-, early- and seed-stage startups. </li><li>However, 212 companies raised funds for the first time during the period. </li><li>EVs were the top-funded sector, raising as much as $774 million, followed by payments. </li></ul>Indian startups raised $5.5 billion in the first half of 2023 — that’s a 72% drop from the same period last year. The number of deals – at 536 – have also fallen to a third of what they were in H1 2022 – 1,586, according to a half yearly update by Tracxn. Amidst the fall, the startups that retained investor interest are those from environment tech – where funding went up 7% sequentially (as compared to H2 2022), while experiencing a 25% drop year-on-year. “The rise in this sector can be attributed to the growing electric vehicles (EVs) industry in the country, driven by rising EV adoption and favorable government policies promoting cleaner mobility,” the report said. Funds raised by startups in H1 2023 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding Round </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount raised </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Late-stage Rounds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.8 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Early-stage Rounds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seed-stage Rounds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$315 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Funding </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.5 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-72% </td></tr></tbody></table>Source: Tracxn EVs, payments &amp; edtech are top-funded sectors EVs were the top-funded sector, raising as much as $774 million, followed by the payments sector – which raised just as much at $773 million. The government’s efforts to establish a cashless economy has drawn investments into the sector. Next on the list are edtech companies – while K-12 edtech companies raised $727 million, the test preparation tech sector raised $708 million. In spite of the overall fall, India remains the third most-funded geography in H1 2023, after the US and the UK. “The investment environment has seen a plunge in funding, but there is a revolution in Tier 2 and Tier 3 cities with an increased rate in the number of startups being formed, which is fuelling the country’s economic growth,” said Abhishek Goyal, co-founder of Tracxn. No new companies became unicorns in H12023 but 60 companies joined the soonicorn club – consisting of companies that are set to become unicorns (startups with $1 billion valuation) soon. The startup space also saw 74 acquisitions during the period under review, while 212 companies received funds for the first time. SEE ALSO <a href="https://www.businessinsider.in/business/news/fmcg-q1fy24-preview-dilemma-between-price-cuts-and-volume-growth/articleshow/101519331.cms">FMCG sector Q1 preview — Caught between price cuts and volume growth</a> <a href="https://www.businessinsider.in/thelife/news/want-your-veggies-to-taste-like-chocolate-a-vr-glass-may-help-trick-your-mind/articleshow/101487079.cms">Want your veggies to taste like chocolate? A VR glass may help trick your mind</a>

EVs hold investor attention even as startup funding drops sharply in H1 2023

<ul><li>New hires are likely to be highest for entry level and junior positions in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. </li><li>Most jobs will likely be created in Bangalore, Chennai, Mumbai, <keyword id="66" type="General" weightage="20" keywordseo="delhi" source="Orion">Delhi</keyword> and Hyderabad. </li><li>Large companies show the highest intent to hire, while small businesses exhibit the highest growth in the intent to hire. </li></ul><keyword id="46431" type="General" weightage="50" keywordseo="india-inc" source="Orion">India Inc</keyword> may hire more people in the second quarter than it did in the first. According to a <keyword id="133742" type="General" weightage="100" keywordseo="teamlease" source="Orion">TeamLease</keyword> report, hiring intent – or the percentage of employers likely to hire employees – rose to 61% for the July-September quarter, from 54% in April-June 2022. However the new hires are likely to be for entry level and junior roles, where the intent to hire is highest. The hiring intent drops progressively for mid-level jobs, hitting the lowest for senior positions, according to TeamLease’s Q2 Employment Outlook <a href="https://group.teamlease.com/insights/employment-outlook-report-q2-july-september-2022/">Report</a>. “India’s GDP for FY 2021-22 touched 8.7% after contracting by 6.6% during the previous fiscal. This, and a slew of public investments in the PLI (production-linked incentive) schemes – in solar cells manufacturing and in bulk drugs for instance – are likely to provide a fillip to job creation in the coming quarter,” the report said. The <keyword id="6377129" type="General" weightage="50" keywordseo="government-of-india" source="Orion">Government of India</keyword>’s ₹2.65 lakh crore stimulus package to generate jobs and provide liquidity support across tourism, aviation, construction and housing, is also aiming to bring revenue and jobs in these sectors to the pre-pandemic levels, the report added. Hiring intent, however, was highest in the IT sector, followed by educational services, e-commerce and allied startups, healthcare and pharmaceuticals, and telecommunications. Most of these jobs are likely to be in the metros – Bangalore, Chennai, Mumbai, Delhi and Hyderabad, in that order. Pune, Ahmedabad, Kolkata have ‘moderate’ intent, the report added. “The bottomline is that, rural places and tier-3 cities do not have as much hiring intent as bigger cities, and the sluggish increase suggests it could take quite a while for opportunities to grow any further in these geographies,” the report said. The survey was conducted across 14 Indian cities and 23 sectors, covering 865 small and medium plus large enterprises. According to TeamLease, the IT sector had the highest attrition rate of 22% during April-June 2022. E-commerce and allied startups came a close second. The other sectors with high attrition rate were EVs, FMCG and the textile sector. The hiring intent for engineering roles saw a 13% increase. The job role that’s most in demand is marketing that jumped from 53% to 63% in the second quarter. Large companies show the highest intent to hire, and small businesses exhibit the highest growth in the intent to hire. The survey also discovered that unicorns and ‘Soonicorns’ (soon-to-be unicorns) showed the highest intent to hire followed by “mature” category businesses and startups. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/mumbai-indians-emirates-announces-the-squad-ahead-of-uaes-t20-league/articleshow/93523932.cms">Akash Ambani’s MI Emirates name squad for UAE’s inaugural ILT20 — Here are the team members</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/balaji-speciality-chemicals-files-draft-papers-for-ipo/articleshow/93517206.cms">Balaji Speciality Chemicals files draft papers for IPO</a>

India intends to hire people more in the July-September quarter: TeamLease

<ul><li>Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> today account for 430,000 jobs, and added 60,000 of them in 2019.</li><li>According to the latest Nasscom-Zinnov report, India now has the third highest number of unicorns in the world.</li><li>However, India’s 24 unicorns are nowhere compared to China’s 206 and US’ 203 unicorns. </li></ul>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 <keyword id="2023759" type="PERSON" weightage="20" keywordseo="startups-in-India">startups in India</keyword> 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, <keyword id="6372077" type="ORGANIZATION" weightage="20" keywordseo="nasscom">NASSCOM</keyword>. The report also adds that India will see 100 unicorns by 2025 and will create over 1.1 million direct jobs.

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

<ul><li>The year 2020 was an unprecedented one. It has been particularly difficult for smaller agencies to survive with the big sharks. </li><li><keyword id="4349638" type="PERSON" weightage="20" keywordseo="pooja-trehan">Pooja Trehan</keyword>, Co-Founder, <keyword id="10736859" type="UNKNOWN" weightage="20" keywordseo="PRPOI">PRPOI</keyword>, shares a few tips for professionals who are planning to start Public Relation agencies in a volatile environment. </li></ul>India and Singapore rank amongst the top 10 cities in Asia for best startups in various studies. Yes, you read that right! Media reports tell us that these two cities alone are home to 34 unicorns, and 52 soonicorns with a potential to become unicorns by 2022, the world’s second largest startup ecosystem is poised for disruption again. Home to over 40,000 startups, the city of Singapore houses six out of the 12 Southeast Asian unicorns. And is ranked #1 in Asia for innovation, and #8 globally. Whilst you let these impressive numbers sink-in, one invariably starts to believe, the immense rise of PR agencies catering to the startup ecosystem for these Asian Tigers. And as the PR industry was just about making a dent in the industry, along came 2020 and turned the industry upside down. And this led us to plan a panel with Jeremy Foo, Founder and CEO, Elliot &amp; Co, Singapore and Kunal Kishore, Founder, Value360 Communications, India. The panelists delved into the impact that 2020 bought upon the startup-ecosystem, making it critical for PR agencies to pivot their approach and ideas if they want to not just survive but thrive in 2021. The complexities of both the markets – Singapore and India – needed lots of tweaks to the rulebook with a quick adaptation of the constant changes. Picking out some disruptive and re-imaginative ideas from the wonderful conversation with the panel. Working closely with founders: Educating founders about PR and how the process of storytelling works is a learning in itself. Founders are extremely passionate about every innovation they do, and sometimes this becomes very challenging, when one has to tell them that everything might not be exciting for media. The attachment that founders have sometimes becomes challenging to explain them to let go. But this is when professionalism of a communicator becomes the core of beginning any PR campaign. Startup is a closed community, so the ecosystem quickly refers great talent to other portfolio companies, which makes it easier for PR agencies to establish their foothold (that is if you have delivered well). Engaging with prominent faces in the world of startups, and joining the journey of building unicorns, helps to learn a lot and get insights into their leadership style. Adept skills for a PR professional when servicing the Startup ecosystem: One needs to begin with understanding the sector you work for, so as to apply an integrated approach. However, 2020 bought a paradigm shift, where one now has to visualise a holistic approach to communications, plan better conversations through PESO, stay ahead to identify and learn about new – age tools. Importantly, a communicator needs to evaluate the consumption pattern of content digitally and accordingly build relevant content for consumers. One will have to work on sensitivity in the current volatile market, considering audiences have more than enough platforms available to express themselves. Today, PR is beyond just delivering stories, Unicorns want to see the impact and ROI communication campaigns are building. How pandemic has changed the Start Up PR industry now: Being a <keyword id="1272027" type="ORGANIZATION" weightage="20" keywordseo="PR-agency">PR agency</keyword> for the startup ecosystem is now pretty mainstream now. The entire ecosystem has been evolving and witnessed many changes at micro level as well as social level. Infact, previously the larger firms overlooked the potential of startup brands, which the pandemic changed, bringing increased interest for the startup PR system. Last year also saw a lot of young entrepreneurs emerging out of the PR industry catering to the startup fraternity. Big firms are building small focused teams for the same. Previously, #techology and #financial turned out to be huge categories for startups, but now every sector will see technology sprouting a startup business. Media advisory for brands beyond just funding news / pitch Focus on the storytelling, if it’s a good story, it will attract enough attention. One needs to look beyond designing narratives around the fund-raising initiatives. The funding process is once in 18 or 24 months, beyond that in the startup world one has to drive communication basis a good assessment to pick from the pool of stories lying with clients. In a marketplace, there are huge possibilities of different stories, an opportunity to look at different types of audiences and explore different regions. Track how these marketplaces are expanding the micro entrepreneurs and that is one way for you to build a new conversation. The above is by special arrangement via a collaboration with PRPOI Watch the video here: <div type="Youtube" id="JwA_y2eV7O0" title="Ep 34 : Start Up PR : The New Rulebook" thumbUrl="https://i.ytimg.com/vi/JwA_y2eV7O0/mqdefault.jpg"></div>

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From Paytm to OYO, these Indian unicorns and soonicorns made the most news in 2019

Minicorns, Unicorns tripled in USD 100 billion Indian fintech ecosystem: BCG, Z47

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

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