India to house 60,000 start-ups by 2025
According to TiE Global report, prepared in association with Zinnov, business recovery of start-ups is back on track after the lockdown. The study notes, however, that about 12-15% of start-ups are facing risk of survival and a similar percentage of start-ups have closed their business. But the study estimates India to house 60,000 start-ups and 100 companies with valuation of over US$ 1 billion by 2025.
“Despite being in the biggest pandemic we have had, India is going to create same numbers of unicorn in 2020 as we did in 2018 and 2019, which is a testament of our strong ecosystem,” TiE Delhi-NCR president Rajan Anandan said while releasing the report. The study also said that start-ups are expected to create 1.5 to 1.6 million jobs by 2025.
At present there are around 38,000 active start-ups in the country, out of which 26 are unicorns and in 2019, the start-up ecosystem in India had attracted US$ 14.5 billion investments. It adds that direct job creation in the start-up ecosystem will remain flat in 2020. This is because around 25,000 jobs in several sectors like hospitality, mobility, among others, have been lost; while a similar number of jobs have been created in some sectors like edutech, communications, online fitness, among others.