About the summit
The Indian startup ecosystem continues to be the third largest in the world. Around 9,000 startups were incepted during 2014-19 with an overall base growing at 12-15% y-o-y out of which 1,300+ startups were added in 2019 only. With 18% of base being deep tech for startups, the convergence of technologies is at the highest level now. The increasing adoption is also reflective of the improving technology / engineering skills in the Indian startup ecosystem.
India policy changes, consumer demand, global potential, and maturing startup ecosystem is seeing good movement in engineering startups – though not as big as the growth in computer software-based startup. Indian government policy and support in the space, A&D has enabled India private sector including startup to innovate and contribute to the growth of these sectors. Electric mobility has enabled growth in many startups within the vehicle and component space. Challenges in fighting Covid-19 has enabled inception of many healthcare related startups. The progress in the technology manufacturing startup is not limited to above sectors but is also seen in other sectors such as consumer appliances, process industries, industrial to name a few.