What is the most successful startup to come out of India? What about the 10th most successful? How about the 100th? All of those are wrong. Or at least partially wrong. Because none of them are correct to describe the Indian “startup” market in 2017. Those companies aren’t entrepreneurial in how they start or grow in India, and instead resemble more closely what is actually a startup market in the developed world. So, which part is the real India? I’ll try to point that out, and it will be very narrow. Right now the line is not as obvious as the line between developed and undeveloped markets, but, the thing is, now, that can be addressed. What’s going on in India is more subtle than just a wild west mentality versus a model of good corporate citizenship, or an entrepreneurial versus a staid market. I’ll also not touch topics like where is the best place to do real estate or the best schools, because those are about my personal preferences. I want to take a deeper look at a different line in India. The line between the successful and the unsuccessful. Which startups have succeeded, and which haven’t? Yes, sometimes there’s an issue of bias, given I’m Indian. I’m not trying to hide that. But, I see the trends, I can make a conjecture, and I think it’s accurate.
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So, here it is, my attempt at an explanation of how the startup space seems to need to have two separate lineages: one that grows and is entrepreneurial, one that’s trying to be “profitable company” like a western firm. Which one is that? Well, without knowing any of the 10th or 20th most successful in India and what they do, how one would put them in order is extremely difficult. But, I think that’s the case. Yes. When something is really big in a market, then, most likely, they’re profiting on a scale which’s like those whereWhat is the most successful startup to come out of India? I would not be surprised to hear answers such as Flipkart, Snapdeal, Ola (ride-hailing), even IndusInd Bank. But I think something has been left unseen. Bajaj can be seen as a market leader in terms of manufacturing and selling auto-parts in India, Tata for a long time had been in selling tyres, but did that make its products more successful? Arvind has done an excellent article on this topic here. There’s one startup that does not get as much attention, not even close, but the type of company it is has massive potential, and even more potential to disrupt its sector – financial services industry in India. Current scenario: India started a new wave of banking revolution, when it got two of the top 3 ranked startups – Paytm and Muthoot Finance, to start providing micro-loans at doorstep directly into people’s hands. That brought in a new game – people in their sixties lent a younger crowd the money, with the hope of returning the money, while not being worried about their financial stability. Amitabh Basu, Co-founder of the FinTec Group talks about why people like to lend money to others and why it’s so successful in digital India I recently started investing in such startups and it seems that the opportunities are endless. If you look at the chart below, you will see that loanable money reaches millions of low-income Indians every month – something that could not be done in the 1960s. This statistic is for low-to-moderate income households, which do not participate in the formal banking system, and accounts for about $150 billion per year, which is 30-40% of total credit, including salary credit and home loans.
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Banks are still very picky about whom they lend money to, and even though the number of people has increased dramatically, risk is still a key factor for the bigWhat is the most successful startup to come out of India? We mean a startup that actually went from zero to one billion or three in less than 100 years. Do you have the answer? Our best answer of course is the unicorn Startup India. Or else these names would just give you a heart attack or a heartburn. A tech startup which you know in tech world would be more famous than a unicorn. For most would recall two unicorns that were in the news – WhatsApp and Uber. But have you ever heard of the third one – Voonik? And if you’re on social media, chances are that you’ve heard of Magzter too. They were all first-of-their-kinds, India-led unicorn startups. In this article, we also cover two other Indian startups that were part of this series. The reason? Most obviously they were view it the first to open their public trading with valuation of over $1 Billion. Along with these two names, we cover Inscriber’s VC-funded unicorn as well – it’s an Indian one-stop shop for all that you seek for digital printing services. (Click for Inscriber Whitepaper) Have a look at the table below (that’s our list of first Indian unicorn startups). The word unicorn has always baffled, astounded and amused us at first. The phrase unicorn is derived from the unicorn motif of a real horse in a fictional story and comes out of a mythic creature half-way between a unicorn and a horse.
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You probably want to know about many things these Indian unicorns above have been valued at. We are here to tell you all of them. Let’s get the ball rolling. 1. Uber Uber is the ride sharing app company that was founded by Travis Kalanick in 2009. In India, Uber is operating in 20 cities and serving 10.5 million customers.