Startup India Initiative: Oyo CEO shares journey of Indian entrepreneurship
2 min read . Updated: 19 Jan 2023, 08:04 AM IST
PremiumThe Oyo CEO took a moment and shared the journey of Indian entrepreneurship on his official Twitter handle.
Ritesh Agarwal, Founder and Group CEO, Oyo, remembers the day when the government took Startup India initiative in 2016. He was also a part of its inaugural ceremony which led India’s rise as the startup capital of the world.
The Oyo CEO took a moment and shared the journey of Indian entrepreneurship on his official Twitter handle.
“In 2016, I fondly remember being a part of the inaugural Startup India initiative which cemented India’s rise as the startup capital of the world. Recently as we celebrated National Startup Day, I took a moment to reflect upon the growth of Indian entrepreneurship," Agarwal tweeted.
“The last decade has been phenomenal for Indian startups. It took 18 years in 2000 for the startup ecosystem to reach $100 million in revenue. This has come down to 5 years in 2017, according to RedSeer," he further tweeted.
He also shared a chart showing the list of countries with their respective unicorn count. According to the data, India ranks third in Global Unicorn race.
“60% of Indian unicorns emerged during the tumultuous period of 2021 and 2022. The real story is yet to unfold! (@Inc42) I believe the next generation of unicorns will emerge from Tier 2 and 3 cities," the Oyo CEO said in a tweet post.
“A big enabler in India’s startup ecosystem success has been the resilient entrepreneurs, investors, an abundant talent pool, a supportive government, and the collaboration between public & private sectors," he added.
The world's eyes are on India and despite the challenges in the global economy, Oyo's Agarwal believe that “Build in India, for the world" would be the strongest driving force for founders across India.
He also expressed gratitude to Prime Minister Narendra Modi, Startup India Initiative, NITI Aayog, and the Government of India for making the country global epicentre of it.
“My gratitude to Shri@narendramodiji, @startupindia, @DPIITGoI, @NITIAayog, founders, media, investors, and every other stakeholder who has enabled entrepreneurship to flourish, making India the global epicentre of it!" he said.
India has celebrated ‘National Startup Day’ on January 16. The country is recognized as a startup hub and such government initiatives encourage innovation across sectors.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less