With more than 60,000 registered startups, India's startup ecosystem has the potential to contribute 4-5 percent to the gross domestic product (GDP) in the next 3-5 years, according to report by StrideOne.
The report projects that the registration of new startups is likely to grow at an annualised rate of 25 percent in the next five years. That's not all, the report added that that job creation by startups will grow at 24 percent annually between 2022 and 2027.
According to StrideOne, more than 28 percent of micro, small and medium enterprises in the textile industry in India rely on startup platforms to source business opportunities registering a 29 percent uptick in their revenues after joining such platforms in 2022. Startup Street spoke to Ishpreet Singh Gandhi, Founder of StrideOne to decode this report.
WeWork India is looking to double its revenue and EBITDA in the next calendar year and expand to 6.5 million square feet of office space by March 2023. Speaking to CNBC-TV18’s Ritu Singh, WeWork’s India CEO Karan Virwani said footfalls are back to pre-pandemic levels, and claimed that the funding winter for startups will not impact business.
2022 will be remembered as the year Indian spacetech startups found the escape velocity to take off. Now with policy and capital providing the necessary thrust India's new-age rocketry took "The Giant Leap" in 2022. But will 2023 be the year India's young space farers turn on the after-burners? Watch the accompanying video of Akhil Vishwanth for more details.
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