The Next Decade in Indian Technology Begins Now

Even though National Startup Day is only in its second year, there is one obvious hint that the businesses it honors are beginning to recognize its increasing importance. Although there was a lot of enthusiasm for the first National Startup Day in 2022, it became louder the following year, and in 2024 it reached a crescendo.Additionally, press releases requesting "quotes" surrounding National Startup Day are circulating like crazy this time around; it looks like the startup PR machine has found its calling.However, there's also a sense that, at least in our opinion, the 2024 National Startup Day will be a turning point for Indian technology.

This is as much an Inc42 day as it is a startup day, having witnessed this journey firsthand since the very beginning, even before Startup India entered the scene, and being at the center of it as a watchdog and voice of support.In 2014, when our course started, the term "startup" was unfamiliar and out of the ordinary. Ten years later, it's difficult to ignore or be unaffected by tech startups. As we commemorate our tenth anniversary this year, we can't help but feel a little serendipitous that our path somewhat parallels that of Indian companies.Ten Years Of Startups Coincidentally, the commencement of Startup India's tenth year coincides with its founding in 2015, which has significantly accelerated the tech and startup environment since then.

The young of India's hopes of becoming entrepreneurs were sparked in numerous ways by Startup India.In fact, there aren't many economies that can match India's in terms of sheer size when it comes to laws and regulations designed specifically with entrepreneurs in mind. For instance, although other European nations have attempted to adopt it in the past, no other nation has a high-profile "National Startup Day" with festivities and award shows scheduled like India.In the last ten years, startups have developed to the point where they are now a common topic of conversation at dinner parties in millions of homes and have significantly altered India's social and economic landscape. Examples include the widespread use of UPI applications on street corners and the gig economy that these apps are driving. Furthermore, being identified as a company founder naturally raises expectations of wealth and glamour.

Over the past ten years, startups have altered how Indians communicate, obtain services, and make purchases, spurring quicker economic growth and innovation. The Indian workforce's productivity has significantly grown because to the startup ecosystem, said Pai.But only through adversity has this maturity emerged. The last two years have arguably demonstrated to us what the difficult part entails: developing companies in an ethical, sustainable, and value-creating manner, rather than focusing solely on valuation.