New Delhi [India] Sep 2 (ANI): The year 2021 was the ‘Year of Unicorns’ for India, with 43 start-ups achieving a valuation of over USD 1 billion.
The start-up ecosystem in the country has evolved dynamically since 2016 with the launch of the ‘Start-up India’ initiative.
From a mere 417 start-ups in 2016, this number has grown exponentially with each passing year to 20,160 in 2021.
‘Bamboo India’ is a Pune based start-up by Ashwini Shinde and Yogesh Shinde.
Founded on 15th August 2016, this venture has changed the concept of bamboo from ‘poor man’s timber’ to ‘wise people’s timber’.
Bamboo India produces many innovative bamboo products as a replacement for plastic products, which further contributes to environmental protection.
Yogesh Shinde, Founder, Bamboo India, said, “Even though we are the second largest bamboo producer in the world, we are exporting only 4 per cent of the global market. So I thought, why not take up those things that are direct You can have many angles towards it like ‘Plastic Free India’, ‘Swachh Bharat Mission’ or ‘Self-reliant India’ or ‘Skilled India’. So, all these missions can be accomplished with this bamboo. So, that’s why I started this venture in bamboo.”
‘Bamboo India’ is one of the 13,519 start-ups operating in Maharashtra, which is also the state with the largest number of start-ups, followed by Karnataka, Delhi, Uttar Pradesh and Gujarat.
In today’s environment the start-up culture is attracting many young entrepreneurs. The boards of Indian companies are also increasingly inducting younger members.
According to data from the Ministry of Corporate Affairs, more than a third of the people who got the Direct Identification Number or DIN in the last financial year were 30 years of age or less. DIN is an eight digit unique identification number, which is allotted to a person who is a director of a company.
Already in the 2022 financial year, the Ministry of Corporate Affairs issued 420,000 DINs, of which 123,000 were below 30 years of age, while another 182,000 were between 31 and 45 years.
There has been an increase in funding opportunities, especially from private equity and venture capital firms, which is encouraging young people to opt for the entrepreneurship path.
The Start-up Summit 2022 held recently in Delhi also witnessed huge participation of young entrepreneurs from various industries.
The summit provided an opportunity for participants to learn from each other and exchange ideas, as well as access to funding and business resources.
Sneha Rathore, CEO, Senfort Group of Schools said, “The most important thing is that if someone wants to start something, it is the money they need. And getting these funds for start-ups is a bit difficult. So through all these government schemes, which are launching in India, it is becoming very helpful for entrepreneurs to start their own and it will give a huge push to the start-up industry in India. Going to do.
Among the many start-ups that made their presence felt at the summit, ‘Go Waterless’ stood out with its unique concept.
Founded by 36-year-old entrepreneur Nitin Sharma, the start-up provides door-to-door car wash services in Mumbai and Nagpur without using water.
Instead, it uses a plant-based high lubricating spray to capture dust particles from the surface of the automobile.
Nitin Sharma, Founder and CEO, Go Waterless said, “Our product is a very unique formulation. The first thing is that it is a plant extract. It is not a chemical based product. So, in a way, we clean vehicles. And the product we are using is also a non-hazardous product which will not harm the environment nor damage the surface of the vehicle.
Today, India is the world’s third largest ecosystem for start-ups, covering 56 diverse regions across the country.
As of July 2022, India was home to 105 unicorns with a total valuation of USD 338.50 billion.
Since 2016, the start-up industry in the country has registered a 15x growth in funding and a 9x increase in the number of investors, making it an amazing success story of ‘Brand India’. (ANI)
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