It is probably not more than a decade that the idea of successful startups emerged from small cities. They were less privileged and their landscape was narrow. Today, the scenario has changed dramatically. India is witnessing a new era of innovation and entrepreneurship. Union Minister Hardeep Singh Puri highlighted the transformation and said that the success initially was often determined by who you knew and not what you could create. Connections were key then. However, the case today is very different.
Innovation now is flourishing in small towns and cities. Startups are emerging from such places which were once overlooked. It is now proved that great ideas can sprout from anywhere. The shift has contributed to the impressive growth in the Indian startup ecosystem. Today, there are more than 100 unicorns and more than 125,000 startups in India.
Minister Puri said India is positioned in the third place in the world with respect to number of unicorns and simultaneously second in having total number of startups. India is also leading in the creation of new startups. All these demonstrate the potential India has and steps taken by the government in strengthening a supportive environment for innovation.
The new wave from small cities is about business success as well as creating opportunities in the regions. It reveals talent and creativity co-exist across India. The startups are to inspire more innovations and simultaneously contribute to the overall economic development in the country.
It won’t be wrong saying that the rise of startups in small cities is a testament to the changing dynamics of success in India. It of course is a promising sign for the future. It of course indicates India is on the right path of becoming a global leader in innovation and entrepreneurship.
