The startup story's just starting
Startup India launched in 2016, over 1,12,000 startups and 115-plus unicorns have emerged, valued at $350 bn (2024). Yet, as the new government is sworn in, there's more to be done.
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Look within Self-regulation is critical for fostering a vibrant and creative environment among startups. Recent instances of corporate mismanagement, financial discrepancies and neglect of governance protocols have surfaced, raising concerns among investors and stakeholders.
It's essential for startups to adopt a self-regulating approach with a governance framework focused on fostering a culture of accountability, transparency and ethical conduct in business operations. Government or regulatory intervention resulting from consistent corporate governance lapses will stifle innovation in the long term.
Startup20 Engagement Group, formed under India's G20 presidency last year, put forward recommendations on corporate governance that startups would greatly benefit from adopting, in addition to complying with relevant regulations. Focusing on areas such as auditing, finance and financial management is a must for all founders.
Funds matter Access to patient capital remains a critical challenge for Indian startups, especially in deep tech sectors. India needs to create a substantial fund earmarked for deep tech startups, which will begin to bridge
