In a few short years, India’s startups have transformed the country into a modern digital economy. India will soon have 1 billion internet users and will be a $1 trillion digital economy in four years.
Startups UnleashedIt is India’s startups that have led from the front to bring this digital revolution to every home. Indian startups have created and scaled digital products and solutions that have been built keeping the unique needs of Indians in mind. In fact, made-for-India solutions, especially in areas like digital payments, are now being replicated in other international markets. Many times Indian entrepreneurs have been ahead of policy. To their credit, the government and policymakers have responded to the needs and requirements of Indian startups and have supported them with pragmatic and far-sighted policies. The results are for all to see. India, or what we like to call the Indus Valley Startup Ecosystem, has produced over 50 Unicorns and over 50 Soonicorns are waiting in the wings. We are the third largest startup ecosystem globally, in terms of number of startups.
But, our digital economy is still nascent and there is much we need to improve – the Indian startup ecosystem is ranked at 20 in the world.
The Road AheadMany more chapters of this intrepid startup tale remain to be written. But what will be written in those chapters? That Indian startups continued to innovate and flourish or that we let others take the lead? That we became inspiring leaders or became meek followers? India’s startup founders have a window of opportunity to author these next chapters.
There are real and deep problems that face India’s billion-plus population that can be solved with digital products and solutions. We have the opportunity to improve the lives of millions of Indians. However, complex issues linked to sovereignty of data of Indian users, real cost of usage, fair play, open markets, and many more remain. We need to mindfully and deliberately decide on these issues, which have a direct impact on billions, and for that we need enlightened policy leadership.
Today, we have seen the promise of a digital future that has the potential to benefit all Indians. It is still only a promise. For that promise to become a reality, we need to build a conducive environment, an ecosystem that truly supports innovation born in this country.
It is with this objective that we have audaciously imagined ADIF.
Our mission is to catapult the Indian startup ecosystem into the best in the world, while ensuring that we do not dilute the essence of the Indian startup playbook or the Indus Valley Playbook that has brought us this far. We will not only propagate this ideology, a strong alternative to the Silicon Valley Playbook, but also work towards supporting its further evolution.
We are here to support Indian digital startups to make the world better.
