Description
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Picture Courtesy: TURBOSTART
Context:
India's startup ecosystem has grown rapidly in recent years, with more startups and funding than ever before. It has now become the third-largest startup ecosystem in the world.
Definition of a startup in India
A startup in India is an entity that meets the following criteria:
It is headquartered in India.
It has been in existence for less than 10 years.
It has an annual turnover of less than ₹100 crore.
Entities formed by splitting or reconstructing existing businesses are excluded from the definition of a startup.
Current status of startups
India ranks as the third-largest startup hub globally, behind the United States and China.
The country has over 100 unicorns, which are privately held startups valued at over $1 billion. India is followed by the UK and Germany in terms of the number of unicorns.
As of January 15, 2025, India has 1,59,157 startups recognized by the Department for Prom...
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