The number of startups has been rising in the country amid the government’s various measures and incentives to promote the new-age enterprises. According to the LinkedIn Top Startups 2022 list, unified payment interface CRED has been ranked as the No. 1 startup, followed by online higher education firm upGrad, investment platform Groww, e-grocery company Zepto, and space-sector start-up Skyroot Aerospace.
Apart from these, MBA Chai Wala, Spinny, The Good Glamm Group, GrowthSchool, BluSmart, ShareChat, Ditto Insurance, Simpl, Rapido, Classplus, Park+, BlissClub, DealShare, Ultrahuman, Living Food, FamPay, AgniKul Cosmos, Stanza Living, Pocket FM, and Zypp Electric are other starups to list on the list of 25 startups.
Out of the total top 25 startups listed, 13 are based out of Bengaluru with 58 per cent of the jobs in these startups also listed for the same city. “Our 5th annual LinkedIn Top Startups list is the resource to find the startups to pay attention to right now, featuring 25 Indian companies that are rising to the challenges of the moment and continuing to innovate and gain attention in 2022,” LinkdIn said.
It added that India’s startup landscape has evolved to become the third largest in the world, after the US and China. In fact, Indian startups raised over $21 billion between January to August 2022, with one of LinkedIn Top Startups, upGrad, leading the way with a funding of $210 million in Series F funding. And this robust startup ecosystem is key to India realising its dream of becoming a $5 trillion economy by 2025.
The number of startups have been recognised in India and the startup ecosystem here continues to be fuelled by innovation, enthusiasm and entrepreneurial spirit. He added that India in its 75th year of independence is now home to 75,000 startups.
The number of recognised startups in India rose to 75,000 in 2022 till August, from 471 in 2016, which is a significant over 16,000 per cent jump. The new-age enterprises are spread across 56 diversified sectors, and over 4,500 start-ups have been recognised in sectors such as the internet of things (IoT), robotics, artificial intelligence and analytics.
“Startups and the entire technology ecosystem are the engines of growth for any country. Recognising this aspect, the government has launched Startup India initiative on January 16, 2016, with an aim to build a stronger ecosystem for nurturing India’s startup culture that would further drive our economic growth, support entrepreneurship, and enable large-scale employment opportunities,” the commerce and industry ministry has said in a statement.
The ministry said that out of the total recognised startups, around 12 per cent cater to IT services, 9 per cent to healthcare and life sciences, 7 per cent to education, 5 per cent to professional and commercial services and 5 per cent to agriculture.