NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, August 30, 2018

By Dilipkumar Khandelwal

In the early days, it was not easy for startups in India to get investment or the right mentorship. Startups often moved their businesses more than 14,000-km away, to Silicon Valley, to get better access to financing and mentorship.

At that time, American venture capital firms were hunting for the next unicorn in the region. The network of angel, VC and corporate investors was still nascent in India. Despite all these disadvantages, a growing number of Indian startups showed all the makings of the next global giant: brilliant minds, the latest technology skills, a keen understanding of market needs, and most importantly, the audacity to change the way business is done.

Today, India is the third-largest hub for technology startups. Indian startups such as online retailer FlipKart, ride-hailing app Ola and digital payments company Paytm have become global household names, attracting not only interest from financial institutions but also from Fortune 500 companies.

Photo courtesy of Andrew Magill.