Number of start-ups will increase 10 times in 5 years: Rajeev Chandrasekhar
He also highlighted the country’s progress in building unicorns and start-ups and how they have successfully entered areas in emerging technologies, such as AI, Web 3, and deep tech.
BENGALURU: In the next four-five years, there will be 10,000 unicorns from the present 108 unicorns and the number of start-ups will increase 10 times, said Minister of State for Skill Development & Entrepreneurship and Electronics & IT Rajeev Chandrasekhar.
Speaking at the JITO Incubation Innovation Foundation (JIIF) 6th Foundation Day and Investors/Startup Conclave in Hyderabad, Chandrasekhar said from being predominantly focused on IT and ITes, the next four to five years will witness substantial growth for start-ups and unicorns.
“In 2014, our nation’s tech landscape was limited to IT and ITes. However, since then, opportunities have emerged across various domains such as deep tech, AI, data economy, semiconductor design, microelectronics, and high-performance computing,” he said.
He added, “From 108 unicorns I am sure we will reach 10,000 in the next 4-5 years. Today we have over a lakh start-ups in India and it will increase by 10 times,” the minister said. He also highlighted the country’s progress in building unicorns and start-ups and how they have successfully entered areas in emerging technologies, such as AI, Web 3, and deep tech.
Chandrasekhar said that through strategic partnerships with both big and small companies, the government now works closely to identify necessary skills, creating a comprehensive framework with the active involvement of academia, communities and corporations. He added that community and corporate partnerships are very important elements to start-ups.